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 translating protein-encoding DNA and making proteins by ribosomes in the cytoplasm. Currently, virally derived, self-amplifying RNA and non-replicating mRNA are the two types of RNA being studied as vaccines. mRNA vaccines have been a promising alternative to conventional vaccine methodologies owing to their safe administration, the potential for low-cost manufacture, capacity for rapid development, and high potency. Over the last few decades, there has been a focus on RNA-based technologies for developing therapeutic vaccines, as mRNA vaccines are highly beneficial in fighting 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 consists of the elements that can act as challenges and opportunities in the global market.

The 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 volatile, with the enzyme RNases ready to degrade extracellular RNA. The expression effect is guaranteed by stabilizing the mRNA existence, which requires designing the delivery methods to protect the mRNA from degradation and facilitate its uptake in the cells. In addition, the mRNA vaccines need to be stored at ultracold storage conditions to avoid degradation leading to less effective immunity.

North America to dominate the global market.

The global mRNA Vaccine and Therapeutics market Regionally encompasses six regions covering all important markets. Credence Research provides a complete vision of noticeable areas of the 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 offer 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 diseases remain in the 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 an increase in funds from government and non-government organizations for the development of mRNA vaccines and therapeutics. In addition, the current covid-19 pandemic situation has tremendously boosted 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 primary factor boosting the growth of the global market in this region is the rapidly spreading infection caused by a coronavirus. In addition to this, the growing use of standardized therapeutic cancer mRNA vaccines due to the 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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