mRNA Vaccine and Therapeutics Market by Vaccine Type (Self-amplifying mRNA-based Vaccines, Conventional Non-Amplifying mRNA-Based Vaccines) by Application (Cancer, Infectious Disease, Others) by End User (Hospitals and Clinics, Research Organizations, Other): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

The global mRNA Vaccine and Therapeutics market is expected to reach USD 2911.8 million in 2027 from USD 587.5 million in 2020 and is projected to grow at a CAGR value of over 28.4% during the forecast period.

 mRNA is the intermediary stage between the translation of protein-encoding DNA and the making of proteins by ribosomes in the cytoplasm. Currently virally derived, self-amplifying RNA and non-replicating mRNA are the two types of RNA that are being studied as vaccines. mRNA vaccines have been a hopeful alternative to conventional vaccine methodologies owing to their safe administration, the potential for low-cost manufacture, capacity for rapid development, and high potency. Since the last few decades, there is rise in focus on RNA-based technologies for the development of therapeutic vaccines as mRNA vaccines are highly beneficial to fight against viral diseases, infections, and cancer.

Key Market Drivers and Restraints

Key factors comprising drivers and restraints of the global mRNA Vaccine and Therapeutics market are included here. It also includes the factors that can act as challenges and opportunities in the global market.

Lack of stability of RNA molecules may hamper the growth of the market

mRNA is highly prone to degradation. In vivo, naked RNA molecules are extremely unstable, with the enzyme RNases ready to degrade extracellular RNA.  The expression effect is guaranteed by stabilizing the mRNA existence and this requires designing the delivery methods to protect the mRNA from the process of degradation and facilitate its uptake in the cells. In addition to this, the mRNA vaccines needs to be stored at ultracold storage conditions to avoid degradation leading to offer less effective immunity.

North America to dominate the global market

Regionally, the global mRNA Vaccine and Therapeutics market encompasses six regions covering all important markets concerning to it. Credence Research provides complete vision on noticeable regions of global market. Based on the region, North America accounted for the largest share in the global market with over 40% share in 2020.

Self-amplifying mRNA-based Vaccines to lead mRNA vaccine and therapeutics market

Self-amplifying mRNA-based vaccines offers potential advantages as in the cell, before producing proteins they generate several copies of it as they contain viral replicase enzyme. Owing to this property, self-amplifying mRNA vaccines express more antigens and are more immunogenic. This causes tremendously vigorous immune responses making it more efficient than other mRNA vaccines.

Infectious disease remain on top position in the global market in terms of Application

The growing prevalence of infectious diseases is leading to a huge socioeconomic burden on countries across the world. To overcome such a burden, there is increase in funds from government and non-government organizations for the development of mRNA vaccines and therapeutics. In addition to this, the current covid-19 pandemic situation has tremendously boomed the demand for mRNA based vaccines and the demand is expected to surge during the forecast period.

Growing demand from Hospitals and Clinics to boost the market growth

The major factor boosting the growth of the global market in this region is the rapidly spreading infection caused by coronavirus. In addition to this, growing use of standardized therapeutic cancer mRNA vaccines due to rise in healthcare expenditure, growing prevalence of cancer, and growing awareness regarding the mRNA vaccines are fueling the overall market growth across hospitals and clinics end-user.

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