Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "mRNA Vaccine and Therapeutics - Market Insights, Competitive Landscape, and Market Forecast - 2027" report has been added to ResearchAndMarkets.com's offering.
The global mRNA Vaccines and Therapeutics market was valued at USD 71,263 million in 2022, growing at a CAGR of -34.01% during the forecast period from 2023 to 2028.
The demand for mRNA vaccines and therapeutics is primarily being boosted due to the rising demand for protection against sudden pandemic outbreaks, the increasing patient pool associated with infectious diseases across the globe, the rise in the number of ongoing clinical trials for various indications among others, leading to a positive impact on the market growth during the forecast period from 2023-2028.
mRNA Vaccines And Therapeutics Market Dynamics:
The rising demand for vaccines to protect against sudden pandemic outbreaks such as COVID-19 and to induce immunity among the global population is one of the key factors driving the overall growth of the mRNA vaccine and therapeutics market.
COVID-19 vaccines are highly effective at protecting people from getting seriously ill, being hospitalized, and even dying. The mRNA vaccines, owing to their new technology are deemed to be safe and help to create immunity against infectious agents such as viruses, creating an antibody response without experiencing any potentially severe illness.
The viruses constantly change over time, which can lead to the emergence of variants that might have newer characteristics. The vaccines thereby continue to immunize people from developing serious illnesses.
In August 2021, the U.S. Food and Drug Administration (FDA) approved the mRNA COVID-19 vaccine by Pfizer-BioNTech. It was marketed under the name of Comirnaty for the prevention of COVID-19 disease in individuals aged 12 years or older.
In addition, the increasing adoption of mRNA vaccines and therapeutics, owing to the growing awareness, research activities, and funding has allowed big firms to potentially increase their innovative approach, to protect against future disease outbreaks, which is thereby anticipated to propel the overall growth of the mRNA vaccines and therapeutics market in the upcoming years.
However, strict regulatory approvals and the presence of pre-existing vaccines with alternative technologies in the market among others may restrict the mRNA vaccines and therapeutics market growth during the given forecast period.
The COVID-19 pandemic had a positive impact on the market growth of mRNA vaccines and therapeutics as during the peak corona period when coronavirus cases were surging drastically, health institutions and companies were intensely involved in research activities for the development of mRNA vaccines as soon as possible, also receiving funding from various multinational firms and governments to facilitate the vaccine development process.
mRNA Vaccines And Therapeutics Market Segment Analysis:
mRNA Vaccines and Therapeutics market by Vaccine Type (Self-Amplifying mRNA Based Vaccines and Conventional Non-Amplifying mRNA Based Vaccines), End-User (Hospitals and Clinics, Research and Development Organizations, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)
In the vaccine type segment of the mRNA vaccines and therapeutics market, the self-amplifying mRNA-based vaccines category is expected to amass significant revenue share in the year 2022. This is primarily owing to the wide number of advantages and the increasing number of research and development activities in the sector on self-amplifying mRNA-based vaccines.
Self-amplifying mRNA-based vaccines help in easy storage, along with lower costs because its "self-amplifying" design allows them for smaller doses. A self-amplifying mRNA vaccine ideally would replace the two primary doses given during the time of pandemics, giving it an even clearer benefit over its conventional relatives. A booster dose, months later might still be warranted, as is encouraged now for the current mRNA vaccines. The self-amplifying mRNAs could also lead to more durable immune responses.
In June 2022, Gennova Biopharmaceuticals launched its mRNA vaccine for COVID-19 named, Gemcovac-19 which can be stored at temperatures between 2C and 8C, and uses the mechanism of self-amplification.
Therefore, owing to the above-mentioned factors, the self-amplifying mRNA-based vaccines category is expected to witness considerable growth, eventually contributing to the overall growth of the global mRNA vaccines and therapeutics market during the forecast period from 2023-2028.
A selection of companies mentioned in this report includes
- Pfizer Inc.
- BioNTech SE
- Moderna, Inc.
- Gennova Biopharmaceuticals Limited
- GSK plc.
- Daiichi Sankyo
- Arcturus
- Boehringer Ingelheim International GmbH
- Ethris GmbH
- CureVac SE
- AIM Vaccine Corporation
- Charoen Pokphand Group
- Argos Therapeutics Inc.
- Sanofi
- Kernal Biologics Inc
Key Topics Covered:
1. mRNA Vaccines and Therapeutics Market Report Introduction
2. mRNA Vaccines and Therapeutics Market Executive Summary
2.1. Scope of the Study
2.2. Market at Glance
2.3. Competitive Assessment
3. Regulatory Analysis
3.1. The United States
3.2. Europe
3.3. Japan
3.4. China
4. mRNA Vaccines and Therapeutics Market Key Factors Analysis
4.1. mRNA Vaccines and Therapeutics Market Drivers
4.1.1. Rising demand for protection against sudden pandemic outbreaks
4.1.2. Increasing patient pool associated with infectious diseases across the globe
4.1.3. Rise in the number of ongoing clinical trials for various indications
4.2. mRNA Vaccines and Therapeutics Market Restraints and Challenges
4.2.1. Strict regulatory approvals
4.2.2. Presence of pre-existing vaccines with alternative technologies in the market
4.3. mRNA Vaccines and Therapeutics Market Opportunities
4.3.1. Increasing research and development activities on mRNA vaccines
4.3.2. The increasing number of investments and funding by governments and market players
5. mRNA Vaccines and Therapeutics Market Porter's Five Forces Analysis
5.1. Bargaining Power of Suppliers
5.2. Bargaining Power of Consumers
5.3. Threat of New Entrants
5.4. Threat of Substitutes
5.5. Competitive Rivalry
6. COVID-19 Impact Analysis on mRNA Vaccines and Therapeutics Market
7. mRNA Vaccines and Therapeutics Market Layout
7.1. By Vaccine Type
7.1.1. Self-amplifying mRNA-Based Vaccines
7.1.2. Conventional Non-Amplifying mRNA-Based Vaccines
7.2. By End-User
7.2.1. Hospitals and Clinics
7.2.2. Research and Development Organizations
7.2.3. Others
7.3. By Geography
8. mRNA Vaccines and Therapeutics Market Company and Product Profiles
8.1. Company Overview
8.2. Company Snapshot
8.3. Financial Overview
8.4. Product Listing
8.5. Entropy
For more information about this report visit https://www.researchandmarkets.com/r/6piop8
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