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mRNA Vaccine and Therapeutics Market

mRNA Vaccine and Therapeutics Market (3rd Edition): Industry Trends and Global Forecasts, till 2035 - Distribution by Application Area (Covid-19 and Other Indications), Target Disease Indication (Influenza, Respiratory Syncytial Virus Infection and Cytomegalovirus Diseases) and Geographical Regions (North America, Europe, Asia-Pacific, Latin America and Rest of the World)

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mRNA Vaccine and Therapeutics Market Size

The global mRNA vaccine and therapeutics market size for Covid-19 is estimated to be worth US$9 billion in 2024. Further, mRNA vaccine and therapeutics market size for other indications is projected to be US$1.99 billion by 2035, representing a CAGR of 16% during the forecast period from 2026 to 2035. The new research study consists of industry trends, detailed market analysis, company competitiveness analysis, partnership and collaboration, funding and investments analysis, clinical trials analysis, patent analysis, big pharma initiatives and start-up health indexing.

mRNA Vaccine and Therapeutics Market Distribution by Application Area, 2024-2035 (USD Billion)

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In addition, we have provided mRNA vaccine and therapeutics market forecast along with sales forecast of drugs which are marketed or being evaluated in late stage of clinical development. Driven by the availability of encouraging clinical trial results, along with continuous research and development efforts, several product candidates are expected to receive marketing approval in the coming decade.

Messenger ribonucleic acid (mRNA) is a type of single-stranded ribonucleic acid (RNA), which helps in transferring genetic information in order to produce proteins. The mRNA encoding instructions for protein synthesis are transferred from a strand of DNA to the ribosomes, where these instructions are translated and processed into functional proteins. mRNA therapeutics and mRNA vaccines have emerged as a promising alternative to conventional treatment approaches. Post the onset of the COVID-19 pandemic, mRNA therapeutics and mRNA vaccines have garnered significant attention as they have evolved as a revolutionary drug class for the treatment of COVID-19, as well as several other diseases, such as infectious diseases, cancer, genetic disorders and other disorders.

Till date, four mRNA-based vaccines have received approval for the treatment of COVID-19, while a number of such candidates are being evaluated as potential therapies. Moreover, the overall success of the mRNA-based therapies and vaccines against COVID-19 has attracted the interest of several investors, specifically towards small and emerging mRNA focused biotechnology companies.

The success of mRNA-based therapeutics and vaccines has increased the research activity in novel / next generation RNA therapeutics market. The rich pipeline of mRNA based therapeutics and vaccines are also driving growth in the mRNA synthesis and manufacturing market, as the drug developers are seeking contract services to scale-up the manufacturing of mRNA-based drugs.

mRNA Vaccine and Therapeutics Market Segmentation Insights

The market research report presents an in-depth analysis of the various companies that are engaged in the global mRNA vaccine and therapeutics market, across different segments, as defined in the table below:

mRNA Vaccine and Therapeutics Market: Report Attributes / Market Segmentations

Key Report Attributes Details
Historical Trend 2020-2023
Base Year 2023
Forecast Period 2024-2035
Market Size 2024 (for Covid-19) $9 Billion
Market Size 2035 (for Other Indications) $1.99 Billion
Growth rate of Other Indications CAGR of 16% from 2026 to 2035
Application Area
  • Covid-19
  • Other Indications
Target Disease Indication
  • Influenza 
  • Respiratory Syncytial Virus Infection
  • Cytomegalovirus Diseases
Geographical Regions
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Rest of the World
Key Companies Profiled
  • Arcturus Therapeutics
  • BioNTech
  • CureVac
  • Ethris
  • IMMORNA
  • Moderna
  • Providence Therapeutics
  • RNACure
  • Suzhou Abogen Biosciences
  • Turn Biotechnologies
  • Gennova
  • Innovac Therapeutics
  • Kernal Biologics
  • Pantherna Therapeutics
  • pHion Therapeutics
  • Recode Therapeutics
  • Rejuvenation Technologies
  • RNAimmune
  • Strand Therapeutics
  • Walvax
  • Ziphius Vaccines
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  • Market Landscape Analysis
  • Company Competitiveness Analysis
  • Big Pharma Initiatives Analysis
  • Start-up Health Indexing
  • Clinical Trial Analysis
  • Partnerships and Collaborations
  • Funding and Investment Analysis
  • Patent Analysis
  • Market Forecast and Opportunity Analysis

One of the key objectives of this market report was to estimate the current mRNA vaccine and therapeutics market size, opportunity and the future growth potential over the forecast period. Based on multiple parameters, likely adoption trends and through primary validations, we have provided an informed estimate on the market evolution during the forecast period, 2024-2035. 

The market report also features the likely distribution of the current and forecasted opportunity within the mRNA vaccine and therapeutics market across various segments, such as application area (Covid-19 and Other Indications), target disease indication (Influenza, Respiratory Syncytial Virus Infection and Cytomegalovirus Diseases) and geographical regions (North America, Europe, Asia-Pacific, Latin America and Rest of the World). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market report are in USD, unless otherwise specified.

mRNA Vaccine and Therapeutics Market Share Insights

Market Share by Application Area

Based on the application area, the mRNA vaccine and therapeutics market is categorized into Covid-19 and other indications. The vaccines and therapeutics developed for Covid-19 captures the majority share of the mRNA vaccine market in 2024. However, vaccines and therapeutics developed for other indications are expected to witness substantial growth in the coming years. 

Market Share by Target Disease Indication

Based on the target disease indication, the mRNA vaccine and therapeutics market is segmented into influenza, respiratory syncytial virus infection and cytomegalovirus diseases. The market is likely to be driven by vaccines and therapeutics developed for influenza. This can be attributed to the increase in investment on the research and development of influenza vaccines and increasing awareness among governments and non-profit organizations regarding the significance of influenza prevention and control.

Market Share by Geographical Regions

This segment highlights the distribution of mRNA vaccine and therapeutics market across various geographies, such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. According to our projections, the mRNA vaccine and therapeutics market in North America is likely to capture the majority (51%) share, and this trend is unlikely to change in the future as well.

mRNA Vaccine and Therapeutics Market: Key Insights

The “mRNA Vaccine and Therapeutics Market (3rd Edition): Industry Trends and Global Forecasts, till 2035” market report features an extensive study of the current market landscape, mRNA vaccine market size, mRNA therapeutics market size, market forecast and future opportunities for the companies involved in the mRNA vaccines & therapeutics market. The study also features an in-depth analysis, highlighting the capabilities of various industry stakeholders engaged in this field. Key takeaways of the market report are briefly discussed below.

New Drug Modality: mRNA Therapeutics and mRNA Vaccines

The ongoing research and development efforts being undertaken in the mRNA vaccine and mRNA therapeutic market are primarily being driven by the various advantages offered by these molecules, including higher biological efficacy, enhanced immunogenicity, versatile delivery platforms and reduced toxicity levels compared to other therapeutic modalities. Recent reports highlight the potential benefits related to the use of mRNA; for instance, such products pose no undesirable risk of inadvertent infection and insertional mutagenesis. Additionally, the in vivo half-life of mRNA can be regulated by incorporating modifications and using different delivery techniques to make the drugs more stable and highly translatable. This is necessary as mRNA is usually degraded by typical cellular activities. Moreover, owing to the high yields of in vitro transcription processes, the manufacturing of mRNA vaccine candidates is believed to be cost-effective, rapid and scalable.

Technological Advancements in Vaccine Development

mRNA vaccine technology has revolutionized the field of vaccinology by using messenger ribonucleic acid (mRNA) to develop an immune response against specific pathogens or cancer cells within the host. This approach involves delivering mRNA encoding antigen into immune cells, which then use the mRNA to generate proteins that stimulate an adaptive immune response. In addition to this, mRNA vaccines offers several advantages, including ease of design, rapid production and the ability to induce both cellular and humoral immunity, without interfering with genomic DNA. 

Recent advancements in mRNA vaccines have focused on enhancing protein translation, modulating immunogenicity, and improving delivery systems, paving the way for potent immunity against various infectious diseases and cancers. The success of mRNA vaccines against COVID-19 has accelerated research to identify the application of mRNA-based drugs against several diseases such as HIV, Zika, rabies, malaria, cystic fibrosis, tuberculosis, hepatitis B, and certain types of cancer, with ongoing human trials demonstrating promising results.

Pipeline Analysis: More Than 230 mRNA Therapeutic and mRNA Vaccines in Various Stages of Development

With the approval of the first mRNA vaccine under Emergency Use Authorization (EUA), Comirnaty®, in 2020, the field has witnessed a further surge in research and development activity. Since then, two more mRNA-based therapies under EUA have been approved by regulatory authorities, which includes (in chronological order of approval year) Spikevax® (December 2020) and GEMCOVAC™-19 (June 2022). 

In addition, over 230 mRNA therapeutics and mRNA vaccines are being evaluated in various stages of clinical trials for the treatment of multitude of disease indications. While the primary focus lies on mRNA vaccines, mRNA therapeutic companies such as Moderna, BioNTech and Arcturus Therapeutics, are also engaged in actively developing mRNA therapeutics. Additionally, the companies are evaluating various mRNA delivery technologies in order to ensure efficient and safe delivery of mRNA-based drugs.

mRNA Companies Analysis: Big Pharma Companies Partnering to Enter the mRNA Therapeutics Market

Presently, over 45 companies are engaged in the evaluation of more than 230 mRNA therapeutics and mRNA vaccines, across various stages of development, for a myriad of disease indications. Further, over the coming decade, several promising leads, specifically those exhibiting enhanced efficacy, are anticipated to be commercially launched. 

Big pharmaceutical companies, such as Merck, Sanofi and Daiichi Sankyo have partnered with smaller, dedicated mRNA-based therapeutic and vaccines developers to expand their respective capabilities in this upcoming field of therapy. In September 2021, Sanofi became the first big pharma to acquire a mRNA therapeutics company, Translate Bio. The active involvement of big pharma players, as well as the presence of new entrants, will drive the market growth during the forecast period.

Regional Analysis: North America Holds the Largest Share of the mRNA Vaccine and Therapeutics Market

The global market for mRNA therapeutics is currently dominated by North America and this trend is unlikely to change during the forecast period. National Institutes of Health (NIH) has been supporting mRNA therapeutics research through provision of grants even before the COVID-19 pandemic. mRNA vaccine development not only requires support for the clinical development of the vaccines, but also development of delivery technologies and expansion of the manufacturing capabilities. Governments of the US and Canada are actively supporting the domestic manufacturing projects. In April 2022, Moderna announced its plan to set up a mRNA vaccine manufacturing facility in Quebec under a strategic partnership with the Government of Canada. Additionally, in September 2022, the US President signed an Executive Order to launch National Biotechnology and Biomanufacturing Initiative, supporting domestic manufacturing. Such initiatives will continue to ensure government support for mRNA technologies and sustain the North American market share during the forecast period.

Trends Analysis: Partnerships, Funding, Clinical Trials and More

It is worth highlighting that close to 150 collaborations have been inked between industry / academic stakeholders to advance the development of their proprietary pipeline candidates. A number of big pharma companies have established the partnerships and have acted as active investors in emerging mRNA vaccine companies. The mRNA vaccine and therapeutics market has drawn huge investments, specifically in 2020, when over USD 5 billion was invested in mRNA therapeutics companies. The raised funds are not solely focused on the development of mRNA therapeutics for infectious diseases, but cancer focused mRNA drug development efforts have also generated interest amongst the venture community.

Since 2017, the number of clinical trials registered for evaluation of mRNA-based products increased at a compounded annual growth rate (CAGR) of more than 60%. This growth is driven by the development of COVID-19 vaccine and the entry of new mRNA therapeutics and mRNA vaccines into the clinical phase. Considering the growing interest of various stakeholders and encouraging clinical research results, the overall mRNA therapeutics and mRNA vaccines market is anticipated to witness consistent market growth during the forecast period.

Leading Players in mRNA Vaccine and Therapeutics Market 

Examples of key companies engaged in the development of mRNA vaccine and mRNA therapeutics (which have also been profiled in this market report; the complete list of companies is available in the full report) include Arcturus Therapeutics, BioNTech, CureVac, Ethris, IMMORNA, Moderna, Providence Therapeutics, RNACure, Suzhou Abogen Biosciences and Turn Biotechnologies. This market report includes an easily searchable excel database of all the companies developing mRNA vaccine and mRNA therapeutics.

mRNA Vaccine and Therapeutics Market Report Coverage

The market report presents an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this industry, across different geographies. Amongst other elements, the market research report includes:

  • A preface providing an introduction to the full report, mRNA Vaccine and Therapeutics Market (3rd Edition): Industry Trends and Global Forecasts, till 2035. 
  • An outline of the systematic research methodology adopted to conduct the study on mRNA vaccine and therapeutics, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
  • An overview of economic factors that impact the mRNA vaccines & therapeutics market outlook, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
  • An executive summary of the key insights captured during our research, offering a high-level view of the current landscape of mRNA vaccine and therapeutics industry and its likely evolution in the short to mid and long term.
  • A general introduction to mRNA, featuring insights on the historical evolution of mRNA therapeutics and vaccines. It also presents elaborate description on advantages associated with mRNA therapeutics and vaccines. It also features some of the key applications of both mRNA therapeutics and mRNA vaccines. Additionally, the chapter includes details on the various types of delivery routes and delivery strategies for mRNA drugs. Further, the chapter discusses the challenges associated with large scale adoption of mRNA therapeutics and vaccines and the associated future perspectives.
  • A detailed overview of the overall market landscape of mRNA therapeutics and vaccines, based on several relevant parameters, such as phase of development (marketed, phase III, phase II, phase I, preclinical and discovery), type of drug candidate (mRNA vaccine and mRNA therapeutic), therapeutic area (infectious diseases, oncological disorders, genetic disorders, neurological disorders, autoimmune disorders, pulmonary disorders and other therapeutic area), type of delivery system (lipid nanoparticles, lipopolyplex, liposomes, direct transfer, self-amplifying RNA platform and other delivery system), type of molecule encoded (spike protein, glycoprotein, protein coding gene, tumor neoantigen, cytokine, enzyme, tumor antigen, surface protein and other type of molecules) and route of administration (intramuscular, intravenous, intranasal and other routes of administration).
  • A detailed overview of the current market of players engaged in the development of mRNA vaccine and therapeutics, along with information on their year of establishment, company size (in terms of number of employees), location of headquarters, regional landscape and key players engaged in this domain.
  • An in-depth company competitiveness analysis of players in mRNA vaccine and therapeutics domain, based on their developer strength (in terms of year of establishment and company size), pipeline strength (in terms of its pipeline maturity and drug administration route) and number of therapeutic areas targeted.
  • Elaborate profiles of key companies engaged in mRNA vaccine and therapeutics market. Each profile features a brief overview of the company (including information on its year of establishment, number of employees, location of headquarters and leadership team), financial information, mRNA vaccines and therapeutics pipeline, recent developments and an informed future outlook.
  • A review of the various mRNA-focused initiatives undertaken by big pharma players (shortlisted on the basis of the revenues generated in 2021), featuring a heat map representation that highlights mRNA therapeutics and vaccines under development (in partnership with core mRNA-focused entities), along with information on funding amount raised, partnership activity, and diversity of product portfolio (in terms of disease indication being treated and focus therapeutic area), as well as a spider web representation, comparing the initiatives of big pharmaceutical players on the basis of multiple relevant parameters.
  • An analysis of start-ups (established since 2016) in this domain, based on several relevant parameters, such as number of candidates in discovery, preclinical and clinical phases of development. This chapter also provides details on amount raised, number of investors and number of deals inked.
  • An analysis of completed, ongoing and planned clinical studies of mRNA therapeutics and vaccines, based on several relevant parameters, such as trial registration year, trial status, trial phase, therapeutic area, study design, type of sponsor / collaborator, leading industry players (in terms of number of trials conducted), enrolled patient population and geography.
  • An analysis of recent collaborations and partnerships within the mRNA therapeutics and vaccines industry, based on several relevant parameters, such as year of partnership, type of partnership, therapeutic area, most active players (in terms of number of deals inked) and regional distribution of partnership activity that have been undertaken in this domain, since 2013.
  • A detailed analysis of various investments made by players in this domain, since 2013, based on several relevant parameters, such as year of funding, type of funding (seed financing, venture capital, IPOs, secondary offerings, debt, grants and other offerings), amount invested, therapeutic area, most active players (in terms of number of funding instances and amount invested) and key investors (in terms of number of funding instances). 
  • An in-depth analysis of the various patents that have been filed / granted related to mRNA therapeutics and vaccines domain, since 2016, based on several relevant parameters, such as type of patent (granted patents, patent applications and others), publication year, geographical region, CPC symbols, leading industry players (in terms of the number of patents filed / granted) and patent valuation.
  • An in-depth analysis of the factors that can impact the growth of the market. It also features information on key drivers, potential restraints, emerging opportunities, and existing challenges within the mRNA vaccine and therapeutics market.
  • A detailed mRNA vaccine and therapeutics market forecast analysis with our estimates of the existing market size, market value and future opportunity for mRNA vaccine and therapeutics companies over the next 11 years. Based on multiple parameters, likely adoption trends and through primary validations, we have provided an informed estimate on the market size during the forecast period 2024-2035. 
  • Detailed projections of the current and future opportunity within the mRNA vaccine and therapeutics market across different application area, such as Covid-19 and other indications.
  • Detailed projections of the current and future opportunity within the mRNA vaccines & therapeutics market across different target disease indication, such as influenza, respiratory syncytial virus infection and cytomegalovirus diseases.
  • Detailed projections of the current and future opportunity within the mRNA vaccine and therapeutics market across different geographical regions, such as North America, Europe, Asia-Pacific, Latin America and Rest of the World.

Recent Developments in mRNA Vaccines and Therapeutics Market

Several recent developments have taken place in the field of mRNA vaccine and therapeutics. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall trends that have been outlined in our mRNA vaccine and therapeutics market analysis.

  • In April 2024, CureVac signed an agreement with MD Anderson to develop mRNA-based cancer vaccines for haematological and solid cancers.
  • In December 2023, BioNTech established a clinical scale mRNA manufacturing facility in Victoria, Australia to manufacture investigational mRNA-based medicines.
  • In January 2023, Moderna’s mRNA vaccine mRNA-1345 demonstrated 83.7% efficacy in a Phase III trial targeting respiratory syncytial virus (RSV) in older adults.

Author(s): Pemba Lahmo, Vaibhav Singh

Frequently Asked Questions

Question 1: What are mRNA therapeutics and mRNA vaccines?

Answer: mRNA therapeutics and mRNA vaccines deliver mRNA coding for specific proteins or antigens into the cells of a patient either directly or using a delivery system.

Question 2: How big is the mRNA vaccine and therapeutics market?

Answer: The mRNA vaccine and therapeutics market size is estimated to be worth $9 billion in 2024.

Question 3: What is the growth rate (CAGR) of the mRNA vaccine and therapeutics market for non-COVID-19 indications?

Answer: The mRNA vaccine and therapeutics market for non-COVID-19 indications is expected to witness the compounded annual growth rate (CAGR) of 16% during the forecast period, 2026-2035.

Question 4: What is the outlook for mRNA vaccine and therapeutics?

Answer: The mRNA vaccine and therapeutics market size is estimated to reach $1.99 billion by 2035.

Question 5: Which region has the highest share of the mRNA vaccine and therapeutics industry?

Answer: Currently, North America and Europe collectively capture around 80% of the market share.

Question 6: What are the key growth drivers in the mRNA vaccine and therapeutics industry?

Answer: The key value drivers in the mRNA therapeutics and mRNA vaccines market include a significant rise in the overall healthcare expenditure, increased R&D spending, a surge in mRNA-focused research initiatives and a plethora of mRNA technological advancements in the recent past.

Question 7: Who are the leading players in the mRNA vaccine and therapeutics market?

Answer: Arcturus Therapeutics, BioNTech, CureVac, Ethris, IMMORNA, Moderna, Providence Therapeutics, RNACure, Suzhou Abogen Biosciences and Turn Biotechnologies.

Question 8: Which mRNA vaccine and therapeutics are approved by FDA?

Answer: The FDA has approved several mRNA-based therapeutics, including Onpattro (for hATTR), COVID-19 vaccines (Pfizer-BioNTech and Moderna), and gene therapies for sickle cell disease (Casgevy and Lyfgenia).

Question 9: What is mRNA technology for therapeutics?

Answer: mRNA technology enables rapid and potent expression of therapeutic proteins without altering the genome, offering an effective approach to treat various diseases.

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