Global mRNA Therapeutics Market By Type (Prophylactic Vaccines and Therapeutic Vaccines), By Application (Oncology, Infectious Diseases, Respiratory Diseases, and Others), By End-user (Hospitals & Clinics, Research Organizations, and Others), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

Global mRNA Therapeutics Market size is expected to be worth around US$ 40.3 Billion by 2033 from US$ 18.5 Billion in 2023, growing at a CAGR of 8.1% during the forecast period 2024 to 2033.

Growing interest in mRNA therapeutics is transforming the landscape of modern medicine, driven by the success of mRNA-based vaccines and the potential to treat a wide range of diseases, including cancer, infectious diseases, and rare genetic disorders. The ability of mRNA therapies to instruct cells to produce specific proteins makes them a versatile platform for therapeutic development.

In 2024, Moderna received $176 million in federal funding to develop mRNA vaccines targeting bird flu, signaling strong governmental support for pandemic preparedness. The expanding application of mRNA in oncology is also evident, as CureVac partnered with MD Anderson in 2024 to advance mRNA-based cancer vaccines. BioNTech SE’s acquisition of InstaDeep Ltd. in early 2023, aimed at integrating AI-driven drug discovery into mRNA therapeutic development, underscores the growing importance of artificial intelligence in this market.

Furthermore, Moderna’s establishment of a new mRNA manufacturing facility in early 2024 demonstrates the industry’s commitment to scaling production capacity. Opportunities for personalized medicine, rapid vaccine development, and novel treatments continue to drive innovation and investment in the mRNA therapeutics sector.

Key Takeaways

• Market Size: Global mRNA Therapeutics Market size is expected to be worth around US$ 40.3 Billion by 2033 from US$ 18.5 Billion in 2023.
• Market Growth: The market growing at a CAGR of 8.1% during the forecast period 2024 to 2033.
• Type Analysis: The prophylactic vaccines held a significant share of 61.4% due to the increasing incidence of cancer globally and the need for more targeted therapies.
• Application Analysis: The oncology segment led in 2023, claiming a market share of 42.7% owing to its effectiveness in preventing infectious diseases.
• End-Use Analysis: The hospitals & clinics segment had a tremendous growth rate, with a revenue share of 54.5% owing to the increasing demand for specialized treatment options.
• Regional Analysis: In 2023, North America dominated the market with the highest revenue share of 40.4%

By Type Analysis

The prophylactic vaccines held a significant share of 61.4% due to the increasing incidence of cancer globally and the need for more targeted therapies. mRNA-based treatments offer a promising approach for developing personalized cancer vaccines, which are expected to significantly enhance immune responses against tumor cells. Ongoing advancements in mRNA technology, including its ability to encode for specific antigens and promote precise immune modulation, are likely to drive the adoption of these therapies in oncology.

Furthermore, the growing investment in cancer research and clinical trials involving mRNA-based approaches is anticipated to accelerate progress. The ability to rapidly develop treatments in response to specific cancer types, alongside the potential for fewer side effects compared to conventional chemotherapy, is estimated to further support growth in this segment.

By Application Analysis

The oncology segment led in 2023, claiming a market share of 42.7% owing to its effectiveness in preventing infectious diseases. The success of mRNA vaccines in addressing the COVID-19 pandemic has highlighted their potential for rapid development and scalability. This breakthrough has prompted further research into vaccines for a range of other infectious diseases, including influenza, HIV, and Zika virus, which are likely to drive demand for prophylactic mRNA vaccines.

Additionally, mRNA technology allows for faster adaptation to emerging viral strains, enhancing the speed of vaccine development. The growing emphasis on pandemic preparedness and global immunization programs is projected to further support the expansion of this segment.

By End-user Analysis

The hospitals & clinics segment had a tremendous growth rate, with a revenue share of 54.5% owing to the increasing demand for specialized treatment options. Hospitals and clinics are likely to play a crucial role in the administration of mRNA-based therapies, particularly in oncology and infectious diseases, where personalized and precision treatments are essential.

The growing availability of clinical trial programs and advanced healthcare infrastructure in hospitals is anticipated to support the widespread adoption of these therapies. Additionally, the need for professional oversight in administering mRNA vaccines and therapies, along with post-treatment care, is likely to drive the reliance on hospitals and clinics as the primary healthcare providers for these innovative treatments.

Key Market Segments

By Application

• Oncology
• Infectious Diseases
• Respiratory Diseases
• Others

By Type

• Prophylactic Vaccines
• Therapeutic Vaccines

By End-user

• Hospitals & Clinics
• Research Organizations
• Others

Drivers

Increasing vaccine development drives the mRNA therapeutics market

Increasing vaccine development initiatives significantly propel the growth of the mRNA therapeutics market. Companies continue to expand their research efforts to address a broader range of diseases. For instance, in September 2023, Moderna, Inc. advanced its mRNA research into oncology, respiratory conditions, and rare diseases, a move expected to enhance its revenue streams.

Moreover, in August 2023, CureVac began dosing participants in a Phase 2 study of modified COVID-19 mRNA vaccine candidates in collaboration with GSK Plc. The growing demand for vaccines to combat emerging diseases has led to substantial investment in the mRNA field. This rise in research and development activities is anticipated to accelerate breakthroughs in vaccine technology, particularly for infectious diseases and cancer.

Restraints

High manufacturing cost restrains the mRNA therapeutics market

High manufacturing costs are anticipated to hamper the growth of the mRNA therapeutics market. The production process for mRNA-based therapies involves complex steps that require advanced technology, specialized equipment, and rigorous quality control, all of which contribute to increased operational expenses. These high costs often translate into expensive treatment options, making them less accessible, particularly in low-income regions.

Additionally, maintaining the cold chain logistics for mRNA products further inflates overall expenses, as these therapies typically require ultra-cold storage conditions. The financial burden associated with producing and distributing these therapies is expected to impede broader market adoption and limit affordability for many patients, thereby restricting market expansion.

Opportunities

Increasing R&D activities create opportunities for the mRNA therapeutics market

Growing research and development (R&D) activities present significant opportunities for the mRNA therapeutics market. In November 2023, Sanofi inaugurated a new mRNA research facility at Griffith University, projected to drive innovation in developing novel therapeutics. These R&D initiatives aim to explore the potential of mRNA technology in addressing a wide array of diseases, including cancer, infectious diseases, and genetic disorders.

Increased investment in developing next-generation mRNA-based therapies has opened new avenues for treating previously untreatable conditions. The rapid advancements in mRNA technology, coupled with expanding clinical trials, are anticipated to support the market’s long-term growth. Rising collaboration between pharmaceutical companies and research institutions further strengthens this opportunity, fostering breakthroughs in personalized medicine and targeted therapies.

Impact of Macroeconomic / Geopolitical Factors

Global economic and geopolitical conditions significantly influence the mRNA therapeutics industry. Economic downturns, such as inflation and rising interest rates, increase the cost of research and development, potentially slowing down innovation and clinical trials. Trade restrictions and regulatory hurdles, especially in politically unstable regions, further complicate the global supply chain, limiting access to critical raw materials and technology.

Conversely, increased government investment in healthcare, particularly in response to pandemics, has positively impacted the development of mRNA-based vaccines and treatments. Additionally, favorable public health policies and strategic partnerships with international regulatory bodies create a more conducive environment for faster product approvals. As healthcare systems prioritize innovative therapies, the market for mRNA-based treatments is expected to experience sustained growth.

Latest Trends

Rising Collaborations and Partnerships Driving mRNA Therapeutics Market Growth

Increasing collaborations and partnerships among biotech companies and research organizations are projected to drive the growth of the mRNA therapeutics market. In August 2023, Gritstone bio, Inc. and Genevant Sciences entered an agreement that leverages Genevant’s advanced lipid nanoparticle platform to enhance delivery of nucleic acids.

Similarly, in September 2023, BioNTech SE partnered with the Coalition for Epidemic Preparedness Innovations (CEPI) to accelerate the development of an mRNA-based Mpox vaccine. These partnerships aim to advance the efficacy and delivery of mRNA-based treatments and vaccines. As more companies collaborate to share technology and expertise, the pace of innovation is expected to accelerate, creating a competitive market landscape and contributing to the long-term growth of the industry.

Regional Analysis

North America is leading the MRNA Therapeutics Market

North America dominated the market with the highest revenue share of 40.4% owing to advancements in COVID-19 vaccines and expanding applications of mRNA technology in other therapeutic areas. One significant milestone occurred in September 2023, when BioNTech and Pfizer received U.S. FDA approval for a new formulation of their mRNA-based COVID-19 vaccine, COMIRNATY, for the 2023-2024 season, approved for individuals aged 12 and older.

This regulatory achievement has further reinforced the potential of mRNA technology in preventive medicine. Additionally, increased investment in research and development, as well as growing public and healthcare professional acceptance of mRNA therapies for various conditions beyond COVID-19, have played a crucial role in driving market expansion in North America.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Asia Pacific is expected to grow with the fastest CAGR owing to increasing collaborations and investment in biotechnology. In November 2023, Moderna, Inc., in partnership with several Australian organizations, launched a new mRNA platform aimed at advancing messenger RNA-based medicines. This initiative is expected to accelerate research and development in the field, particularly in areas such as cancer therapies and rare diseases.

The region’s expanding healthcare infrastructure, coupled with growing interest in innovative treatments, is likely to support the broader adoption of mRNA-based therapies. Additionally, government initiatives to strengthen biotech capabilities are projected to further stimulate growth, making Asia Pacific a key region for mRNA advancements.

Key Regions and Countries

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• Australia
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Key Players Analysis

The major players in the mRNA therapeutics market are actively engaged in the development and introduction of innovative products, as well as implementing strategic initiatives aimed at enhancing their competitive positioning. Key players in the mRNA therapeutics market drive growth by advancing innovative research and development initiatives, particularly in areas like oncology and infectious diseases.

They form strategic partnerships with pharmaceutical companies and research institutions to enhance their technological capabilities and accelerate product pipelines. Expanding manufacturing capacities ensures they meet the increasing demand for these therapies.

Additionally, companies focus on securing regulatory approvals and launching clinical trials to demonstrate efficacy and safety. They also invest in expanding their global reach, targeting both established and emerging markets for greater market penetration.

Top Key Players

• Moderna, Inc.
• Ethris GMBH
• Etherna Immunotherapies
• Curevac AG
• CSL Limited
• CRISPR Therapeutics AG
• BioNTech SE
• AstraZeneca plc.
• Argos Therapeutics Inc.
• Arcturus Therapeutics

Recent Developments

• In January 2023, BioNTech SE entered into a strategic collaboration with the UK government to provide personalized mRNA cancer immunotherapies for up to 10,000 patients by 2030. This collaboration has had a positive impact on the company’s revenue and demonstrates the expanding application of mRNA technology beyond infectious diseases, supporting the growth of the mRNA therapeutics market.
• In December 2022, CSL Limited announced that its subsidiary, CSL Seqirus, finalized a global collaboration and license agreement with Arcturus Therapeutics Holdings Inc. The agreement grants access to Arcturus’ late-stage self-amplifying mRNA (sa-mRNA) vaccine platform, which recently reported positive results in a Phase III COVID-19 vaccine efficacy study. This collaboration enhances CSL’s position in the mRNA therapeutics market, leveraging new technology that has shown effectiveness in preventing infection and severe disease, contributing to market growth.
• In December 2022, Moderna, Inc. received emergency use authorization (EUA) from the U.S. FDA for its BA.4/BA.5 Omicron-targeting bivalent COVID-19 booster vaccine, mRNA-1273.222, for children aged six months to five years. This authorization, based on a booster dose containing mRNA encoding for both the BA.4/BA.5 variant and the original SARS-CoV-2 strain, highlights the ongoing advancements in mRNA vaccine development, reinforcing the role of mRNA technology in responding to emerging health threats and contributing to the growth of the mRNA therapeutics market.

Report Scope