Global mRNA Vaccines and Therapeutics Market
DELTA, BC, CANADA, August 20, 2021 /EINPresswire.com/ — The Global mRNA Vaccines and Therapeutics Market is anticipated to grow at a CAGR of around 13% during 2021-26, says MarkNtel Advisors in their research report. The market is undergoing a significant change concerning the developments taking place, which are currently invading the market space. With the emergence of SARS-CoV-2 resulting in a COVID-19 pandemic, the mRNA vaccines and therapeutics ecosystem has become highly dynamic. Additionally, with highly opportunistic trends along with the incorporation of effective vaccination strategies for curbing the spread of the virus, there is immense potential for market growth.
The emergence of mRNA-based vaccines and therapies is becoming a promising platform for non-COVID-19 applications, owing to the various underlying advantages, including initiation of an adaptive immune response and inability of the traditional vaccine approaches to perform at a critical time. Hence, the market is expected to become highly lucrative in the forthcoming years.
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Key Questions Answered:
1. Which are the most prominent driving & roadblock factors of the “Global MRNA Vaccines and Therapeutics Market?”
2. What are the new opportunities by which the “Global MRNA Vaccines and Therapeutics Market” will grow in the coming years?
3. How vast is the “Global MRNA Vaccines and Therapeutics Market” in revenue, sales, and production?
4. What are the market shares of each region in 2021, and which one of them is dominating the “Global MRNA Vaccines and Therapeutics Market?”
COVID-19 Impact on the Global MRNA Vaccines and Therapeutics Market
Due to the highly contagious nature of the SARS-CoV-2 virus, the infection rate is massive, surging the number of COVID-19 cases worldwide. With a steep rise in the COVID-19 patients, the requirement for efficacious vaccines increased, which boosted the demand for mRNA-based vaccines. The mRNA-based COVID-19 vaccines increase protein translation, innate modulation and offer adaptive immunogenicity to patients suffering COVID-19.
Due to the advantages offered by the mRNA-based COVID-19 vaccines coupled with the growing cases of COVID-19 worldwide, the demand for these vaccines has massively increased in the last couple of months, thereby positively influencing the market growth.
Immuno- Oncology to Attain the Largest Market Share of the Global MRNA Vaccines and Therapeutics Market
The Global mRNA Vaccines and Therapeutics Market (by Non-COVID-19 mRNA Applications) will be dominated by Immuno-Oncology during 2021-26, accounting for more than 60% of the market share. The segment growth attributes to the increasing focus on research about the development of mRNA-based vaccines and therapeutics for cancer, increasing external funding, and the growing adoption of precision medicine.
Given the fact that mRNA-based cancer treatment modalities have the potential to offer transformative care to cancer patients, companies are actively incorporating business synergies to decipher mRNA’s potential to provide precision care.
For instance, Moderna, Inc. collaborated with Merck & Co. in May 2018 to expand their collaboration for the development & commercialization of personalized mRNA cancer vaccines. It included mRNA-5671 vaccine candidates for the treatment of cancers having KRAS mutations.
Nucleoside-Modified mRNA (modRNA) Acquired the Largest Market Share
Among all the mRNA types, nucleoside-modified mRNA accounted for the largest share of the Global mRNA Vaccines and Therapeutics Market and is expected to dominate the market throughout the forecast period. It attributes to the underlying specifications, which made it one of the important types of mRNA for the development of mRNA vaccines for the prevention of COVID-19.
Moreover, the utility offered by the nucleoside-modified mRNA to prevent diseases for a longer timeframe, higher efficacy, and growing emphasis on research are other crucial factors driving the segment growth.
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North America Dominated the Market with the Largest Share
North America acquired the largest share of the Global mRNA Vaccines and Therapeutics Market in the previous few years. It owes to the high biopharmaceutical R&D expenditure in the region, mainly in the U.S. In addition, significantly rising COVID-19 cases and massively increasing external funding for COVID-19 vaccines development are other factors contributing to the market growth in the region.
Further, Europe is the second-largest region in the market due to the Presence of major bio manufacturing juggernauts and increasing focus on collaborative R&D for advancing the development of mRNA-based COVID-19 vaccines.
Market Drivers:
• Growing Cases of COVID-19 Globally.
• Favorable Regulatory Environment.
• Significant External Funding for the Development of mRNA-Based COVID-19 Vaccines
Market Challenge:
• Logistical Challenges Associated with mRNA-Based COVID-19 Vaccines
• High Price Associated with mRNA-Based COVID-19 Vaccines
Market Opportunities
• Growing Emphasis on Research and Development for Non-COVID-19 Applications.
• Extensive research & development activities performed on mRNA-based vaccines and therapies for offering cancer immunotherapy
Market Segmentation:
1. By mRNA Type (Nucleoside-Modified mRNA (modRNA), Unmodified mRNA, Self-Amplifying mRNA)
2. By Application Type (COVID mRNA Application [Commercialised Vaccine {mRNA-1273, BNT162b2}, Pipeline Vaccines {CVnCoV, LUNAR-COV19, MRT5500, DS-5670}] Non-COVID mRNA Application [Immuno-Oncology, Cardiology, Endocrinology, Haematology, Other infectious & rare diseases])
3. By End-User (Hospitals & healthcare Clinics, Research Organisation & Institutions, Others)
4. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa)
5. By Country (U.S, Canada, Brazil, Argentina, Mexico, Germany, France, The U.K, Spain, Italy, China, India, Japan, Australia, South Korea, Saudi Arabia, UAE, South Africa)
6. By Competitors (Arcturus Therapeutics Holdings Inc., BioNTech, CureVac N.V., ethris GmbH, Gennova Biopharmaceuticals Ltd, GlaxoSmithKline plc, Moderna, Pantherna Therapeutics GmbH, Pfizer, Providence Therapeutics, Providence Therapeutics, Silence Therapeutics, Translate Bio, Versameb AG, Verve Therapeutics, Inc.)
Related Research Reports by MarkNtel Advisors:
• Global Reproductive Genetics Market Research Report: Forecast (2021-2026):
https://www.marknteladvisors.com/research-library/global-reproductive-genetics-market.html
• Global Hematology Diagnostics Market Research Report: Forecast (2021-2026)
https://www.marknteladvisors.com/research-library/global-hematology-diagnostics-market.html
• Global Precision Medicine Market Analysis, 2020
https://www.marknteladvisors.com/research-library/global-precision-medicine-market.html
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