mRNA Vaccines: Introduction
- Vaccine is nothing but a biological preparation that provides active acquired immunity to a particular disease. They stimulate the body's immune system to recognize the disease-causing microorganism as a threat and destroy it. Its administration is known as vaccination, the most effective method of preventing infectious diseases.
- mRNA vaccines and therapies are used for prevention and treatment of serious health conditions such as cancer, infectious diseases such as acquired immunodeficiency syndrome (AIDS) and respiratory diseases
- mRNA vaccines have ability to mimic natural viral infections by entering cells and are used to produce viral antigen proteins from within the cell
- Multiple mRNAs that are encoded for various viral proteins can be used as a single vaccine, thereby helping production of complex multimeric antigens
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Key Drivers and Restraints of Global mRNA Vaccines Market
- Rise in prevalence of cancer, genetic disorders, and viral infections; and increase in awareness about vaccination drive the global mRNA vaccines market
- Outbreak of COVID-19 and rise in number of prominent market players conducting clinical trials for vaccine development are projected to drive the global market during the forecast period
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Cancer Segment to Account for Major Share of Global mRNA Vaccines Market
- In terms of indication, the global mRNA vaccines market can be classified into cancer, HIV AIDS, respiratory diseases, and others
- The cancer segment is anticipated to dominate the global market during the forecast period, due to significant demand for mRNA vaccines for cancer and strengthening product pipeline
- According to the National Cancer Institute (NCI), cancer is among the leading causes of death worldwide and the number of new cases per year is expected to rise to 23.6 million by 2030
- According to the World Health Organization (WHO) currently, 10,000 of human diseases are known to be monogenic, caused by modifications in a single gene in human DNA. The global prevalence of all single gene diseases at birth is approximately 10/1000.
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Hospitals & Clinics to Account for Major Share of Global mRNA Vaccines Market
- Based on end-user, the global mRNA vaccines market can be categorized into hospitals & clinics, ambulatory surgical centers, research institutes, and others
- The hospitals & clinics segment is likely to account for major share of the global mRNA vaccines market by 2027, owing to increase in number of patients with respiratory diseases, cancer, and infectious diseases
North America to Dominate Global mRNA Vaccines Market
- In terms of region, the global mRNA vaccines market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global mRNA vaccines market during the forecast period.
- 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
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Key Players Operating in Global mRNA Vaccines Market
The global mRNA vaccines market is highly fragmented, with a large number of domestic players accounting for major market share.
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