Global mRNA Therapeutics Market Analysis: Size, Drivers, Trends, Opportunities, And Strategies
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At What Rate is the mRNA Therapeutics Market Predicted to Expand Between 2024 and 2033?
The mRNA therapeutics market size has steadily increased in recent years. It is anticipated to grow from $33.50 billion in 2023 to $34.76 billion in 2024, with a CAGR of 3.8%. This growth is fueled by heightened financial investment in developing effective pharmaceuticals and vaccines, the expansion of federal programs promoting RNA-based medicines, increased awareness of rare genetic disorders, and a rise in clinical trials.
The mRNA therapeutics market size is anticipated to experience consistent growth in the coming years, reaching $40.69 billion by 2028, with a compound annual growth rate (CAGR) of 4.0%. This growth is driven by the rising incidence of infectious diseases, more patients seeking care at hospitals and clinics, the expanding use of mRNA therapeutics, increasing demand for personalized and precision medicine, favorable regulatory frameworks, and expedited approval processes. Key trends during this period include improvements in mRNA delivery technologies, swift development and adoption of mRNA vaccines, the rise of self-amplifying mRNA (saRNA) platforms, flexible and scalable mRNA manufacturing, and new mRNA modifications.
What Forces Are Boosting the mRNA Therapeutics Market’s Growth?
The rising prevalence of long-lasting and communicable diseases is expected to boost the mRNA therapeutics market. These diseases persist over long periods and can be transmitted between individuals, such as tuberculosis, HIV/AIDS, and hepatitis. The rise in these illnesses is attributed to increased global travel and inadequate healthcare infrastructure, which facilitate their spread and impede effective management. mRNA therapeutics play a vital role by rapidly enabling the production of proteins that enhance immune responses, leading to faster development of vaccines and treatments. For instance, according to GOV.UK, in 2022, there were 94,397 diagnosed individuals with HIV receiving care in England, marking a 3% increase from 91,368 in 2021. Therefore, the growing prevalence of long-lasting and communicable diseases is driving the mRNA therapeutics market.
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What Key Segments Make Up the mRNA Therapeutics Market?
The mRNA therapeutics market covered in this report is segmented –
1) By Product: Vaccines, Drugs
2) By Application: Infectious Diseases, Oncology, Rare Genetic Diseases, Respiratory Diseases, Other Applications
3) By End Use: Hospitals And Clinics, Research Organizations, Other End Uses
What Are the Latest Trends Impacting the mRNA Therapeutics Market?
Major companies in the mRNA therapeutics market are working on innovative solutions such as mRNA-based booster vaccines to strengthen immunity against evolving viral variants. In June 2023, Gennova Biopharmaceuticals Ltd., an Indian pharmaceutical company, introduced India’s first mRNA-based Omicron-specific booster vaccine, GEMCOVAC-OM. This vaccine is thermostable and can be administered without needles, facilitating easier deployment.
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What Regions Are Dominating the mRNA Therapeutics Market Growth?
North America was the largest region in the mRNA therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mRNA therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The mRNA Therapeutics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the mrna therapeutics market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The mRNA Therapeutics Market Include
1. mRNA Therapeutics Market Executive Summary
2. mRNA Therapeutics Market Segments
3. mRNA Therapeutics Market Size And Template Market Growth Rate
4. Key mRNA Therapeutics Market Trends
5. Major mRNA Therapeutics Market Drivers
……
25. Key Mergers And Acquisitions In The mRNA Therapeutics Market
26. Top mRNA Therapeutics Companies
27. mRNA Therapeutics Market Opportunities And Strategies
28. mRNA Therapeutics Market, Conclusions And Recommendations
29. Appendix
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