What is Global mRNA Vaccine And Therapeutics Market?
The Global mRNA Vaccine And Therapeutics Market is a rapidly evolving sector that has gained significant attention in recent years. This market revolves around the development and distribution of mRNA vaccines and therapeutics, which are a new class of drugs that use messenger RNA (mRNA) to produce an immune response. mRNA vaccines work by teaching our cells how to make a protein that triggers an immune response. This immune response, which produces antibodies, is what protects us from getting infected if the real virus enters our bodies. The market's value was estimated at US$ 36680 million in 2023 and is projected to reach US$ 51630 million by 2030, demonstrating the immense potential and growth in this field.
Infectious Disease, Cancer, Others in the Global mRNA Vaccine And Therapeutics Market:
The Global mRNA Vaccine And Therapeutics Market is segmented into various categories based on the diseases they target, such as infectious diseases, cancer, and others. Infectious diseases are caused by pathogenic microorganisms, such as bacteria, viruses, parasites, or fungi. mRNA vaccines for infectious diseases work by introducing a small piece of genetic material from the pathogen to stimulate an immune response. On the other hand, cancer is a group of diseases characterized by the uncontrolled growth and spread of abnormal cells. mRNA vaccines for cancer aim to stimulate the immune system to attack and destroy cancer cells. The 'others' category includes various other diseases and conditions that mRNA vaccines and therapeutics can potentially target.
Hospital, Research Institual in the Global mRNA Vaccine And Therapeutics Market:
The Global mRNA Vaccine And Therapeutics Market finds its application in various areas such as hospitals and research institutes. In hospitals, mRNA vaccines are used to prevent or treat various diseases. They are administered to patients as part of their treatment plan. On the other hand, research institutes use mRNA technology for the development of new vaccines and therapeutics. They conduct extensive research and trials to understand the efficacy and safety of these vaccines. The use of mRNA technology in these areas is crucial as it contributes to the advancement of medical science and the improvement of public health.
Global mRNA Vaccine And Therapeutics Market Outlook:
Looking at the market outlook, the Global mRNA Vaccine And Therapeutics Market is showing promising growth. In 2023, the market was valued at US$ 36680 million and is expected to reach US$ 51630 million by 2030. This indicates a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period from 2024 to 2030. When compared to the global pharmaceutical market, which is projected to grow at a CAGR of 5% over the next six years, reaching 1475 billion USD in 2022, the mRNA Vaccine And Therapeutics Market is holding its own. Furthermore, the chemical drug market is estimated to grow from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022. These figures highlight the significant potential and growth of the mRNA Vaccine And Therapeutics Market.
| Report Metric | Details |
| Report Name | mRNA Vaccine And Therapeutics Market |
| Accounted market size in 2023 | US$ 36680 million |
| Forecasted market size in 2030 | US$ 51630 million |
| CAGR | 4.9% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Argos Therapeutics, BioNTech, CureVac, eTheRNA, Ethris, In-Cell-Art, Moderna Therapeutics, Sangamo Therapeutics, Tiba Biotechnology, Translate Bio |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
