The mRNA Vaccine & Therapeutics Market is expected to grow at a CAGR of 31.41% during the forecasted period of 2020-2030. The growth of the market over the forecast timeline is attributed to growing occurrences of chronic and infectious diseases, such as diabetes, HIV, cancer and CVDs. The growing demand for therapeutic medicines and vaccines for Ebola, influenza, Human Immunodeficiency Virus (HIV) and other viral infections as well as inability of traditional vaccine approach to find vaccines at the critical time will boost the market trends. Additionally, developments in the lipid nanoparticle formulations for in-vivo systemic delivery of mRNA are also creating a positive outlook for the market growth. The increase in research and development activities coupled with advanced technology is expected to create ample opportunities on a long run. However, high cost involved in the development of mRNA vaccine and therapeutic market is expected to hinder the growth of mRNA vaccines and therapeutics market in the near future.
North America holds the highest market about 43% of total market share in 2019. Increase in demand for mRNA vaccines for COVID-19, presence of prominent players operating in the U.S., and exponential rise in number of COVID-19 cases in the U.S. are anticipated to drive the market in North America. Moreover, according to the American Heart Association, Coronary heart condition is that the leading cause (45.1 percent) of deaths due to disorder within the US. The U.S. accounted for the majority of the market revenue by 2030 due to presence of major players, growing research & development activity on mRNA vaccine.
The mRNA Vaccine & Therapeutics Market is segmented on the basis of Vaccine Types, End User Type, Product Types, Treatment Types, Vaccine Manufacturing Type, Application Type and by Countries.
The Conventional Non-Amplifying mRNA-Based Vaccines Type holds the 75% of market share in 2019. And is expected to be growing at a CAGR of 30.72% in the forecasted period.
The mRNA Vaccine & Therapeutics Market by End User Type is segmented into Hospitals, Research Institutes and Others. Hospital Segment dominated the market valued at USD 337.08 Million in 2019.
By Application Type, Infectious Diseases segment holds 68% of market share and is estimated to grow at a CAGR of 31.06% in the forecasted period.
By Product Type, Standardization of Cancer Treatment mRNA Vaccine holds the substantial market share and valued at USD 249.06 Million in 2019.
Key companies profiled in the report are Arcturus Therapeutics Inc., BioNTech SE, CureVac AG, Etherna, ethris GmbH, GlaxoSmithKline PLC, Moderna Therapeutics Inc, Translate Bio Inc. Argos Therapeutics, Inc., Sangamo Therapeutics Inc., and Pfizer.
Scope:
Report Data Market Forecast 2022 XX million/billion (2022-2032) CAGR 2022 - 2032 % Analysis Period 2022 - 2032 Base Year 2021 Forecast Data 2022 - 2032 Segments Covered By Type, By Application, And by Regions Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa Key Companies Profiled . Key Segments By Type
By Applications
Report Coverage Market Drivers, Market Trends, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
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