mRNA Therapeutics Market worth $~35 billion by 2027
The report "mRNA Therapeutics Market by Product (Vaccines, Drugs), Application (Oncology, Rare Diseases, Infectious Diseases, Other Applications), End User (Hospitals & Clinics, Research Settings) - Global Forecast to 2027", is projected to reach USD ~35 billion by 2027 from USD 32 billion in 2022, at a CAGR of ~2% between 2022 and 2027.
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mRNA therapeutics have gained significant traction in recent years attributed to their potential therapeutic capabiltities, particularly for chronic ailments. Convenient manufacturing and distribution of RNA vaccines as compared to DNA vaccines is another attributive factor of the market growth. Increase in the number of patients suffering from SARS-CoV-2 infection has propelled vaccines manufacturers to shift their focus on mRNA-based vaccines. mRNA is a promising technology with enhanced delivery techniques, stability, and translation, further making it an attractive therapeutic modality to develop vaccines.
Oncology has emerged as a lucrative application segment in the mRNA therapeutics market.
By application, the market is segmented into infectious diseases, rare genetic diseases, respiratory diseases, and other applications. mRNA therapy integrates in vitro transcription (IVT) to treat malignant tumors, serving as a novel anticancer treatment. In addition, increase in research activites targeted towards exploring the therapeutic potential of mRNA in cancer treatment contributes to the growth of oncology segment. mRNA cancer vaccines have the ability to stimulate both cellular and humoral immunity, strengthning the adaptability of mRNA vaccines to different indications.
The North America region is estimated to dominate the mRNA therapeutics market in 2022.
North America dominated the mRNA therapeutics market in 2021. Key factors attributed to the market growth in this region include, robust research funding, exapnding clinical trials, and strong support from regulatory authorities toward RNA-based medicines.
Some of the major players in the global mRNA therapeutics market are Crispr Therapeutics AG, Astrazeneca PLC, Pfizer Inc., Sangamo Therapeutics, Inc., Moderna, Inc., Curevac N.V., Arcturus Therapeutics, Translate Bio, Inc., GSK PLC., and Argos Therapeutics Inc
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