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According to SNS Insider, the mRNA Therapeutics market will be reaching USD 45.85 billion by 2031 and will be growing at a CAGR of 1.7% over the forecast period of 2024-2031.
Market Scope
The messenger ribonucleic acid (mRNA) therapeutics market is an expanding field with the potential to revolutionize modern medicine. Unlike traditional drugs that target specific proteins or enzymes, mRNA therapies deliver genetic instructions directly to cells, instructing them to produce the desired therapeutic proteins. This opens doors for treating a wide range of diseases, from infectious diseases like COVID-19 to chronic illnesses like cancer and heart disease.
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List of mRNA Therapeutics Companies Profiled in Report:
- BioNtech AG
- Translate Bio Inc
- Aros Therapeutics
- AstraZeneca
- Pfizer plc
- Sangamo therapeutics
- CureVac NV
- Ethris GMBh
- Etherna Immunotherapies.
- Crisper Therapeutics
Demand Analysis:
Demand for mRNA therapeutics is driven by several factors. The success of mRNA vaccines against COVID-19 has fuelled public and investor confidence in this technology. Additionally, the rising prevalence of chronic diseases globally creates a significant market for novel therapeutic options. However, the market will be facing several challenges. An external recession could dampen investor enthusiasm and hinder funding for research and development (R&D). Manufacturing scalability and cost-effectiveness need improvement for broader accessibility of these therapies. Regulatory pathways for mRNA therapeutics are still evolving, and navigating them can be complex and time-consuming.
mRNA Therapeutics Industry Segmentation as Follows:
By Application:
- Rare genetic disease
- Respiratory disease
- Infectious disease
By Type:
- Prophylactic vaccines
- Therapeutic Vaccines
- Therapeutic Drugs
By End User:
- Hospitals and clinics
- Research Organizations
Regional Analysis:
North America currently holds the largest market share of 55% due to strong research infrastructure, government funding for R&D, and the presence of major pharmaceutical companies. APAC region holds the maximum hopes for the companies, the current growth rate of the major economies of APAC region will be the driving factors for the market. Along with the growth rate the developments in the overall eco systems will be making market grow at an intense level despite of the economic slowdown. The CAGR predicted by SNS Insider for APAC region is 1.92% for the forecast period.
Revenue Analysis:
- Overview:
Key players in the market are actively involved in advancing mRNA technology. Companies like Moderna, BioNTech, Pfizer, and CureVac are at the forefront of developing mRNA vaccines and therapeutics. These players are engaged in strategic partnerships and collaborations to leverage expertise and accelerate R&D efforts. Recent developments include the exploration of self-amplifying mRNA platforms for enhanced therapeutic efficacy and the development of mRNA therapies targeting various oncological and rare disease indications.
- Quantitative Data
The mRNA Therapeutics Market is witnessing a push, driven by the success of COVID-19 vaccines. Leading the charge is Moderna, whose mRNA-1273 vaccine for COVID-19 generated $18.4 billion in revenue for 2022. Pfizer, partnered with BioNTech for their mRNA vaccine Comirnaty, isn’t far behind, with estimated 2022 revenue from this vaccine exceeding $17 billion. These figures highlight the immense commercial potential of mRNA therapeutics, and with a growing pipeline targeting various diseases, revenue trends for key players are expected to maintain an upward path in the coming years.
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Recent Developments:
- Moderna (August 2023): Entered a collaboration with CARsgen Therapeutics to combine their mRNA-based cancer vaccine with CAR-T cell therapy for treating various cancers.
- Moderna: Received Breakthrough Therapy Designation for its melanoma vaccine (mRNA-4157/V940) currently in a Phase II clinical trial, showing promise in combination with Merck’s Keytruda (cancer immunotherapy).
- Providence Therapeutics (June 2023): Announced a collaboration with University Health Network (UHN) to develop mRNA-based vaccines and therapeutics for cancer and infectious diseases.
Key Giveaways:
- The mRNA therapeutics market holds immense potential for revolutionizing medicine.
- The market is driven by the success of mRNA vaccines, rising chronic disease burden, and personalized medicine possibilities.
- Challenges include potential economic downturns, manufacturing limitations, and evolving regulations.
- North America leads the market, with Europe and Asia poised for significant growth.
- Key players are actively developing mRNA vaccines and therapeutics through partnerships and collaborations.
- The future of the mRNA therapeutics market is bright. Overcoming current challenges and continued advancements in technology hold the promise of a new era in healthcare, offering patients with a wider range of effective and personalized treatment options.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 mRNA Therapeutics Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 mRNA Therapeutics Market Segmentation, By Application
Chapter 9 mRNA Therapeutics Market Segmentation, By Type
Chapter 10 mRNA Therapeutics Market Segmentation, By End User
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
Continued…
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