mRNA Therapeutics Market (By Application: Infectious Diseases, Oncology; By Type: Prophylactic Vaccines, Therapeutic Drugs; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global mRNA therapeutics market size was estimated at USD 33.3 billion in 2023 and it is expected to surpass around USD 39.49 billion by 2033, poised to grow at a CAGR of 1.72% from 2024 to 2033. The mRNA therapeutics market is driven by advancements in vaccine development, widespread clinical applications, and rising prevalence of chronic diseases.

Key Pointers

• North America dominated the market with the largest market share of 37% in 2023.
• Europe secured the second-largest revenue share in 2023.
• By Application, the infectious disease segment held the largest revenue share in 2023.
• By Type, the prophylactic vaccines segment generated the maximum market share in 2023.
• By End-use, the hospitals and clinics segment contributed the largest market share 62% in 2023.

mRNA Therapeutics Market Growth

The growth of the mRNA therapeutics market can be attributed to several key factors driving its upward trajectory. Firstly, the successful deployment of mRNA-based vaccines for infectious diseases, exemplified by the response to the COVID-19 pandemic, has bolstered confidence in the efficacy and adaptability of mRNA technology. Additionally, strategic collaborations between prominent pharmaceutical entities and innovative biotech firms have played a pivotal role. These partnerships bring together diverse expertise and resources, accelerating the development and commercialization of mRNA therapies. The expanding clinical landscape, with ongoing trials spanning various therapeutic areas, further contributes to market growth, signifying increased acceptance of mRNA as a viable therapeutic modality. Despite existing challenges, including delivery optimization and potential immune responses, the continuous commitment to overcoming these obstacles underscores the resilience and potential of mRNA therapeutics. As research and development efforts persist, the future of the mRNA therapeutics market appears poised for sustained expansion, offering innovative solutions for a wide array of medical conditions.

mRNA Therapeutics Market Trends:

• Expanding Clinical Applications: The mRNA therapeutics market is witnessing a diversification of clinical applications beyond vaccines. Ongoing research is exploring the potential of mRNA in treating various conditions such as oncology, infectious diseases, and rare genetic disorders, showcasing the versatility of this therapeutic approach.
  
  
• Advancements in Delivery Technologies: Addressing one of the key challenges in mRNA therapeutics, there is a notable focus on advancing delivery mechanisms. Innovations in nanoparticle-based delivery systems and lipid nanoparticles are enhancing the efficiency and targeted delivery of mRNA, overcoming obstacles related to stability and cellular uptake.
  
  
• Increasing Investment and Funding: The growing confidence in mRNA as a therapeutic modality has attracted significant investment and funding. Both established companies and emerging biotech firms are securing substantial financial backing, enabling them to expand their research and development efforts, accelerate clinical trials, and bring novel mRNA therapies to market.
  
  
• Rising Interest in Personalized Medicine: mRNA therapeutics align well with the concept of personalized medicine. The ability to tailor treatments based on individual genetic profiles has sparked increased interest. As the understanding of personalized medicine grows, mRNA therapeutics are poised to play a significant role in providing targeted and patient-specific treatment solutions.
  
  
• Global Pandemic Response Impact: The successful development and deployment of mRNA-based vaccines in response to global pandemics, such as COVID-19, have elevated the visibility and acceptance of mRNA technology. This unprecedented success has not only demonstrated the adaptability of mRNA but has also increased public and investor confidence in its potential across various therapeutic areas.

Application Insights

The infectious disease segment dominated the market with the highest revenue share in 2023. The market's momentum is fueled by the widespread adoption of mRNA-based vaccines, a substantial number of candidates entering clinical trials for various infectious diseases, and the impact of the COVID-19 outbreak in late 2019. These factors are expected to continue propelling market growth throughout the forecast period.

Meanwhile, the oncology segment is poised for significant expansion at an attractive rate. According to estimates from the World Health Organization (WHO), cancer was responsible for approximately 10 million deaths in 2020, establishing it as the primary global cause of death. Notably, lung, colon, rectum, liver, stomach, and breast cancers are prevalent and contribute significantly to mortality rates. The increasing incidence of chronic illnesses underscores the growing demand for mRNA cancer vaccines and therapies, acting as a key driver for market expansion.

Furthermore, the absence of precise cancer therapy medications has intensified the focus on research and development (R&D). Governments and major industry players are feeling the pressure to make substantial investments in R&D efforts. This concerted push is in response to the rising demand for effective cancer vaccines and treatments, creating a positive trajectory for the industry over the forecast period.

Type Insights

The prophylactic vaccines segment emerged as the market leader with largest revenue share in 2023. According to a Nature opinion article, ongoing research and development (R&D) efforts are predominantly centered around prophylactic vaccines, with 77% of mRNA businesses actively engaged in the development of at least one preventive vaccine. Notably, the article emphasizes the substantial contribution of COVID-19 products to the prophylactic vaccine revenues in the immediate future. Additionally, the segment's growth is bolstered by vaccines addressing other illnesses like influenza and respiratory syncytial virus.

The market landscape is further influenced by an increase in mergers, alliances, and intensified R&D initiatives undertaken by pharmaceutical companies, all aimed at enhancing various types of preventative vaccinations. An illustrative example is the collaborative effort between Pfizer and Valneva, as they announced in June 2022 the successful closure of an equity investment dedicated to the development and commercialization of prophylactic vaccines for infectious diseases. This strategic partnership reflects the industry's commitment to advancing preventative measures and contributes significantly to the overall growth of the prophylactic vaccines segment.

End-use Insights

The hospitals and clinics segment dominated the market, securing a substantial revenue share of over 62% in 2023, and is projected to exhibit the highest growth rate throughout the forecast period. The pervasive utilization of vaccines and therapeutics in managing various chronic diseases is propelling the market for personalized pharmaceuticals. Notably, the segment's advancement is further driven by the escalating number of patients seeking medical attention at hospitals and clinics.

Moreover, the anticipated rise in the prevalence of diseases such as cancer, influenza, infectious diseases, and respiratory illnesses is set to contribute significantly to the expansion of this market segment. For instance, a report from the National Center for Biotechnology Information (NCBI) highlights that, according to the World Health Organization (WHO) estimates in 2019, up to 500,000 individuals worldwide succumb to influenza annually, with approximately one billion people falling ill. This alarming statistic is a contributing factor to the sustained growth of hospitals and healthcare clinics as vital hubs in addressing these health challenges.

Regional Insights

In 2023, North America asserted its dominance, capturing a significant market share of over 37%, and is poised to emerge as the fastest-growing region in the forecast period. The region's leadership is attributed to the availability of substantial research funding, the expansion of federal programs dedicated to RNA-based medicines, and a growing number of clinical trials. Notably, in November 2020, pivotal research support from entities like The National Institutes of Health (NIH), the Defense Department, and federally funded academic laboratories played a crucial role in the rapid development of COVID-19 vaccinations. The government's additional investment of $10.5 billion in vaccine manufacturers during the pandemic further accelerates product delivery.

Meanwhile, Europe secured the second-largest revenue share in 2023, driven by an increasing patient population and heightened awareness regarding rare genetic diseases. The presence of major industry players and a rising demand for mRNA vaccines and therapeutics underscore the region's need for transformative treatments. For instance, as part of its expansion strategy to facilitate the local delivery of mRNA vaccines and therapies, Moderna is extending its footprint across Europe, encompassing Denmark, Belgium, the Netherlands, Poland, Norway, and Sweden. This strategic move is anticipated to intensify the demand for mRNA vaccines, contributing to the market's growth in the forecast period.

mRNA Therapeutics Market Key Companies

• Moderna, Inc.
• BioNTech SE
• CureVac N.V.
• Arcturus Therapeutics
• Translate Bio, Inc.
• GSK plc.
• Argos Therapeutics Inc.
• Sangamo Therapeutics, Inc.
• Pfizer Inc.
• AstraZeneca plc.
• CRISPR Therapeutics AG 

mRNA Therapeutics Market Segmentations:

By Application

• Rare Genetic Diseases
• Oncology
• Respiratory Diseases
• Infectious Diseases
• Others

By Type

• Prophylactic Vaccines
• Therapeutic Vaccines
• Therapeutic Drugs

By End-use

• Hospitals & Clinics
• Research Organizations
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa