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mRNA Vaccine Market Size

Report ID: GMI6076
Published Date: Jun 2023
Report Format: PDF

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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.

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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 Vaccine Market Report Attributes
Report Attribute	Details
Base Year:	2022
mRNA Vaccine Market Size in 2022:	USD 11.3 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	9.6%
2032 Value Projection:	USD 27.7 Billion
Historical Data for:	2018 to 2022
No. of Pages:	90
Tables, Charts & Figures:	147
Segments covered:	Type, End-use, and Region
Growth Drivers:	Rising prevalence of infectious disease Increasing focus on preventive healthcare Growing R&D investments for developing mRNA based vaccines Increasing government initiatives and policies to promote vaccination
Pitfalls & Challenges:	High price associated with mRNA-based vaccines Stringent regulations for the approval of mRNA vaccine

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

mRNA vaccine industry size was worth USD 11.3 billion in 2022 and is projected to expand at 9.6% CAGR to reach USD 27.7 billion by the end of 2032 driven by the high prevalence of infectious diseases and genetic disorders worldwide.

Demand for self-amplifying mRNA vaccines reached 50.9% of the market share in 2022 and is estimated to grow at a notable CAGR from 2023-2032 attributed to their increasing adoption to achieve dose-sparing effects.

North America held more than 42.4% share of the mRNA vaccine market in 2022 and is anticipated to exhibit considerable growth through 2032 attributed to the presence of well-established healthcare infrastructure and the increasing R&D investments by led key market players.

Some of the mRNA vaccine firms include AstraZeneca, Pfizer Inc., Moderna, Inc., and GlaxoSmithKline among others.