mRNA Vaccine Market - By Type (Self-Amplifying mRNA Vaccines, Conventional Non-Amplifying mRNA Vaccines), End-use (Hospitals & Clinics, Research Laboratories) & Forecast 2023 - 2032

mRNA Vaccine Market Size

mRNA Vaccine Market size accounted for USD 11.3 billion in 2022 and is estimated to grow at 9.6% to reach USD 27.7 billion by 2032. Rising prevalence of infectious disease, genetic disorders coupled with increasing awareness for vaccination is expected to boost the market growth.
 

For instance, according to World Health Organization (WHO), the COVID-19 pandemic lead to 4.5 million of deaths in 2020. Thus, evolution of viral and microbial variants and increasing R&D to combat drug-resistant infections is projected to foster the market expansion. Furthermore, growing awareness for vaccination among the population and availability of effective preventive vaccines offering immunity against infectious diseases will offer unprecedented growth opportunities to the market.
 

mRNA vaccines use messenger RNA (mRNA) molecules to deliver genetic instructions to cells in the body and produce an immune response. mRNA vaccines have gained significant attention and success during/post the COVID-19 pandemic. These vaccines offer several advantages including rapid development timelines, potential scalability, and the ability to induce strong immune responses. Additionally, mRNA vaccines holds promising potential for addressing various infectious diseases as well as applications in cancer immunotherapy and the treatment of genetic disorders has also been studied from several years.
 

COVID-19 Impact

The COVID-19 pandemic has shredded a limelight on the development of mRNA vaccines owing to unprecedented demand for COVID-19 vaccine. The need to curb the spread of the virus has prompted swift development and regulatory approvals for mRNA-based COVID-19 vaccines. For instance, in 2021, Pfizer-BioNTech vaccine received approval for the prevention of COVID-19 disease and showcased the immense potential of mRNA technology that helped to contain the spread of COVID-19 infection. This has led to increased investment and research in mRNA vaccine platforms, driving innovation and expanding the capabilities of the mRNA vaccine.
 

Moreover, the safety and efficacy of mRNA vaccines has led to collaborations and partnerships between pharmaceutical companies, governments and research institutions to ramp up development and production of mRNA vaccines, thereby positively influencing the market trends.  
 

mRNA Vaccine Market Trends

The rising awareness and demand for vaccination coupled with the efficacy and potential of mRNA vaccines will significantly drive the market share. Growing awareness regarding vaccination for preventing infectious diseases and avoid epidemics and pandemics has led to a significant surge in mRNA-based vaccines. Also, mRNA vaccines offer high efficacy rates and have proven its potential to stimulate robust immune responses, providing enhanced protection against targeted pathogens. Further, rising government initiative and R&D activities to develop novel vaccines for various genetic disorders, autoimmune disease and various types of cancer is anticipated to fuel the industry outlook.
 

mRNA Vaccine Market Restraint

Stringent regulatory approval of mRNA vaccines can significantly hinder the market demand. The complex and rigorous regulatory requirements leads to delay the introduction of new vaccines and limit the entry of new players into the market. The unique nature of mRNA technology and its relatively recent entry into the market necessitates thorough evaluation and stringent regulatory oversight. Also, lengthy approval processes increase the time and costs associated with regulatory agencies with comprehensive data on safety, efficacy and manufacturing quality to ensure that mRNA vaccines meet the required standards.
 

mRNA Vaccine Market Analysis

By type, the mRNA vaccine market is classified into self-amplifying mRNA vaccines and conventional non-amplifying mRNA vaccines. The self-amplifying mRNA vaccines segment accounted for 50.9% of the business share in 2022 and is projected to witness robust growth over the analysis timeframe. The self-amplifying mRNA vaccines replicate within cells and enable to attain higher antigen production resulting in a more potent immune response and improved vaccine efficacy. Additionally, self-amplifying mRNA vaccines can achieve a dose-sparing effect requiring lower vaccine doses while still eliciting robust immune responses.
 

Furthermore, they offer flexibility in targeting various infectious diseases and can be adapted to express antigens from different pathogens, making it applicable to a range of viral, bacterial, parasitic diseases. Such advantages associated with self-amplifying mRNA vaccines is predictable to propel the market expansion.
 

The end-use in mRNA vaccine market is categorized into hospitals & clinics, research laboratories and other end-users. Hospitals & clinics segment accounted for USD 7.1 billion in 2022. Availability of skilled medical professionals and advanced healthcare infrastructure has propelled the hospitals & clinics segment progress. Also, hospitals offer accessibility and convenience for individuals seeking vaccination during their regular visits for healthcare needs. Furthermore, developed infrastructure and well-established storage facilities contributes to streamlined operations and reduces the risk of vaccine shortage as well as wastage in the hospital & clinics.
 

North America mRNA vaccine market accounted for over 42.4% revenue share in 2022 and is anticipated to grow at considerable growth rate during the forecast timeframe. The increasing prevalence of infectious diseases and rising adoption of advanced medical technologies is estimated to drive the market forecasts. Furthermore, presence of well-established healthcare infrastructure, key market players and research activities contribute to the growth of mRNA vaccine research & development. Moreover, growing demand for preventive healthcare, rising government investments in R&D will further support the of market growth in the North America region.
 

mRNA Vaccine Market Share

Major market players operating in the mRNA vaccine market include

• AstraZeneca
• Pfizer Inc.
• Moderna, Inc.
• GlaxoSmithKline

These industry players majorly adopt various strategies including collaborations, acquisitions, mergers, and partnerships to create a global footprint and sustain market competition.
 

mRNA Vaccine Industry News:

• In January 2023, Daiichi Sankyo submitted application for marketing approval of DS-5670 to the regulatory authorities in Japan. DS-5670 is an mRNA vaccine, being developed against the novel coronavirus infectious disease (COVID-19) and is proposed to be used as a booster vaccine for the prevention of COVID-19. This product approval will help the company to enhance its product portfolio and drive revenue growth.
   
• In August 2021, Pfizer-BioNTech COVID-19 vaccine received U.S. Food and Drug Administration approval as the first COVID-19 vaccine. The Pfizer-BioNTech COVID-19 vaccine is marketed as Comirnaty used for the prevention of COVID-19 disease in individuals 16 years of age and older. This strategy helped the company to enhance its product offering in infectious disease and strengthen its business position in emerging mRNA vaccines market.
   

The mRNA vaccine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

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By Type

• Self-Amplifying mRNA Vaccines
• Conventional Non-Amplifying mRNA Vaccines

End-use

• Hospitals and Clinics
• Research Laboratories
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA