mRNA Vaccine Market Size to Achieve USD 9.6 Billion Revenue by 2034, Real-World Efficacy and Infrastructure Investments Boost Market Dynamics - Exclusive Report by Transparency Market Research, Inc.
Wilmington, Delaware, United States, Transparency Market Research, Inc., Sept. 09, 2024 (GLOBE NEWSWIRE) -- The global mRNA vaccine market (mRNA 백신 시장) is estimated to decline at a CAGR of -4.3% from 2024 to 2034. Transparency Market Research projects that the overall sales revenue for mRNA vaccine is estimated to reach US$ 9.6 billion by the end of 2034.
Streamlined approval processes and regulatory reforms aimed at accelerating vaccine development and deployment contribute to market growth. Innovations in logistics, cold chain management, and manufacturing processes optimize vaccine distribution, ensuring timely access and reducing wastage.
Increasing public trust and acceptance of mRNA vaccines, driven by real-world efficacy data and education campaigns, influence market dynamics and demand. Investments in healthcare infrastructure, including vaccination centers, storage facilities, and digital vaccination passports, bolster vaccine delivery capabilities and market penetration.
Ongoing research into the long-term efficacy and durability of mRNA vaccines, including booster doses and vaccine modifications, shapes future market trends and demand patterns.
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Key Findings of the Market Report
- COVID-19 leads the mRNA vaccine market due to urgent global demand for effective vaccination against the pandemic.
- Private hospitals & clinics lead the mRNA vaccine market due to their role in vaccine administration and distribution to the public.
- North America leads the mRNA vaccine market, driven by robust research infrastructure, extensive clinical trials, and rapid vaccination campaigns.
mRNA Vaccine Market Growth Drivers & Trends
- Heightened global focus on pandemic preparedness and rapid vaccine development drives demand for mRNA vaccines, offering a flexible and scalable platform for response.
- Continued innovation in mRNA technology enhances vaccine efficacy, safety, and manufacturing efficiency, fostering market growth.
- Beyond infectious diseases, mRNA vaccines show promise in cancer immunotherapy and other therapeutic areas, expanding market opportunities.
- Government-led immunization campaigns and initiatives to address vaccine inequities fuel demand for mRNA vaccines, particularly in developing regions.
- Collaborations between biotech firms, pharmaceutical companies, and government agencies drive research, development, and distribution of mRNA vaccines, shaping market dynamics.
Global mRNA Vaccine Market: Regional Profile
- In North America, stringent regulatory frameworks and robust vaccination campaigns drive market growth. Key players like Pfizer-BioNTech and Moderna spearhead mRNA vaccine development, leveraging advanced research facilities and extensive clinical trials. Government support and public-private partnerships accelerate vaccine deployment, ensuring widespread immunization coverage.
- Europe boasts a well-established healthcare system and a strong emphasis on preventive medicine. Leading pharmaceutical companies like AstraZeneca and CureVac contribute to the region's mRNA vaccine market, catering to diverse healthcare needs across EU member states. The European Medicines Agency's (EMA) approval process facilitates market access for innovative vaccine candidates.
- In the Asia Pacific, rapid population growth, urbanization, and infectious disease outbreaks fuel demand for mRNA vaccines. Countries like China and India invest in domestic vaccine manufacturing capabilities, fostering regional vaccine production hubs. Collaborations with international biotech firms and technology transfer agreements drive market expansion, addressing the region's evolving healthcare challenges.
mRNA Vaccine Market: Competitive Landscape
The mRNA vaccine market showcases substantial competition driven by the urgent global demand for effective vaccination against infectious diseases.
Pfizer-BioNTech and Moderna dominate, pioneering mRNA technology with their COVID-19 vaccines. Emerging players like CureVac and Translate Bio aim to carve their niche with novel mRNA vaccine candidates.
Established pharmaceutical giants such as Novavax and Johnson & Johnson enter the fray, diversifying the market landscape. Collaborations between biotech firms and government agencies fuel innovation, while manufacturing scalability and distribution efficiency become critical factors in gaining competitive advantage.
This dynamic landscape underscores the pivotal role of mRNA vaccines in shaping the future of global immunization strategies. Some prominent players are as follows:
- Pfizer Inc.
- Moderna Inc.
- Novartis AG
- Sanofi
- Arcturus
- Gennova Biopharmaceuticals Ltd
- Aimei Vaccine Co. Ltd
Product Portfolio
- Moderna Inc. pioneers mRNA technology to develop transformative medicines and vaccines. Their innovative mRNA platform accelerates drug discovery and enables rapid response to global health challenges. With a commitment to revolutionizing healthcare, Moderna leads the way in delivering next-generation therapeutics.
- Novartis AG is a global healthcare company dedicated to reimagining medicine through innovative therapies and technologies. From pharmaceuticals to advanced therapies and generics, Novartis addresses unmet medical needs and improves patient outcomes worldwide with a focus on precision medicine and breakthrough research.
- Sanofi is a leading global pharmaceutical company committed to advancing healthcare for all. With a diverse portfolio spanning vaccines, specialty care, and consumer healthcare, Sanofi delivers innovative solutions to prevent and treat diseases, improve access to healthcare, and enhance quality of life for millions of people globally.
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mRNA Vaccine Market: Key Segments
By Application
- COVID-19
- Others
By End User
- Government Entities
- Private Hospitals & Clinics
- Others (Pharmacies etc.)
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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