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How has the mrna therapeutics market grown in recent years?
The market size for mRNA therapeutics has been on a steady rise over the recent years. The market, which will amount to $34.76 billion in 2024, is projected to increase to $36.25 billion in 2025, displaying a compound annual growth rate (CAGR) of 4.3%. The significant growth observed in the historical period can be credited to various factors such as increased financial backing for developing effective drugs and vaccines, growth in government initiatives focusing on the promotion of RNA-based medicines, heightened knowledge about rare genetic disorders, and an upsurge in clinical trials.
How is the mrna therapeutics market size expected to evolve during the forecast period?
Expectations are high for the mRNA therapeutics market to enjoy solid growth in the approaching years, reaching $42.23 billion by 2029, and exhibiting a compound annual growth rate (CAGR) of 3.9%. The factors contributing to this projection in the forecast period include a rise in infectious diseases, an increase in hospital and clinic attendance, broader uses for mRNA therapeutics, a growing preference for personalized and precision medicine, encouraging regulatory landscapes, and fast-tracked approval processes. The forecast period will also be marked by progress in mRNA delivery technologies, swift advances and integration of mRNA vaccines, the introduction of self-amplifying mRNA (saRNA) platforms, the ability to scale and adapt mRNA production, and the genesis of new mRNA modifications.
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Which key drivers are propelling the mrna therapeutics market’s growth?
The rise in persistent and transmittable diseases is anticipated to boost the expansion of the mRNA therapeutics market. Persistent and transmittable diseases, such as tuberculosis, HIV/AIDS, and hepatitis, linger for prolonged periods and may be passed from one person to another. Factors like increased global travelling and inadequate healthcare systems are leading to the growth of these illnesses, as they promote the spread and obstruct the efficient management of these diseases. mRNA therapeutics can be beneficial for these persistent and contagious diseases by swiftly allowing the body to generate proteins that enhance immune responses, thus leading to faster creation of vaccines and treatments. For instance, a UK government website, GOV.UK, in October 2023 noted that there were 94,397 people in England living with diagnosed HIV and receiving care in 2022. This is a 3% rise from the 91,368 individuals in 2021. Consequently, the growing prevalence of persistent and transmittable diseases is the driving force behind the expansion of the mRNA therapeutics market.
What are the market segments in the mrna therapeutics industry?
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
Subsegments:
1) By Vaccines: Infectious Disease Vaccines, Cancer Vaccines, Other Therapeutic Vaccines
2) By Drugs: Oncology Drugs, Cardiovascular Drugs, Autoimmune Disease Drugs, Other mRNA-Based Drugs
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Which leading companies are shaping the growth of the mrna therapeutics market?
Major companies operating in the mRNA therapeutics market are Pfizer Inc., Novartis AG, Sanofi AG, AstraZeneca plc, GlaxoSmithKline plc, Hoffmann-La Roche AG, Moderna Therapeutics Inc, BioNTech SE, Vertex Pharmaceuticals Incorporated, Catalent Inc, Alnylam Pharmaceuticals Inc, Sarepta Therapeutics Inc, Arcturus Therapeutics Holdings Inc, CureVac N.V, Ethris GMBH, eTheRNA immunotherapies NV, In-Cell-Art S.A.S., Nutcracker Therapeutics Inc, SCM LifeScience Co Ltd, Suzhou Abogen Biosciences Co Ltd, Tiba Biotech LLC, CSPC Pharmaceutical Group, CRISPR Therapeutics AG
What are the key trends shaping the future of the mrna therapeutics market?
Key players in the mRNA therapeutics market are channeling their efforts towards the creation of innovative remedies, including mRNA-based booster vaccines, aiming to reinforce immunity against emerging viral strains. The term ‘mRNA-based booster vaccine’ implies a vaccine employing messenger RNA (mRNA) technology to augment and sustain immunity against a particular pathogen, often subsequent to the primary series of vaccination. To illustrate, Gennova Biopharmaceuticals Ltd., a pharmaceutical firm based in India, in June 2023, introduced GEMCOVAC-OM; this is India’s premier indigenous mRNA-based booster vaccine targeting the Omicron variant of SARS-CoV-2. GEMCOVAC-OM is thermostable and does not necessitate ultra-cold chain infrastructure. It is designed for administration without the need for a needle injection, facilitated through the use of a needle-free device system, making its distribution, even at the remotest locations in India, convenient. The vaccine, in clinical trials, manifested significantly better immune responses than its counterparts, highlighting the requirement for variant-specific vaccines that can induce the required immune responses.
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Which geographic areas are influencing the growth of the mrna therapeutics market?
North America was the largest region in the mRNA therapeutics market in 2024. 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.
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