June 13, 2024

US mRNA Therapeutics Market Size to Cross USD 38.21 Bn By 2033

The US mRNA therapeutics market size reached  USD 11.07 billion in 2023 and is projected to hit around USD 38.21 billion by 2033 with a CAGR of 13.21% from 2024 to 2033.

Key Points

  • By type, the prophylactic vaccines segment held the largest share of the market in 2023.
  • By application, the infectious disease segment led the market in 2023. The segment is observed to sustain the growth rate during the forecast period.
  • By end-use, the hospital and clinics segment held the largest share of the market in 2023. The segment is expected to sustain its position throughout the forecast period.

mRNA Therapeutics Market Size in the US 2024 to 2033

The US mRNA therapeutics market is experiencing significant growth driven by advancements in biotechnology and molecular biology. Messenger RNA (mRNA) therapeutics represent a promising approach in the field of medicine, offering potential treatments for a wide range of diseases, including cancer, infectious diseases, and genetic disorders. The market is characterized by intense research and development activities, strategic collaborations between biopharmaceutical companies, and increasing investments from both public and private sectors. Key players in the market are striving to develop innovative mRNA-based therapies to address unmet medical needs and capitalize on the growing demand for personalized medicine.

Growth Factors: https://www.precedenceresearch.com/sample/3862

Several factors contribute to the growth of the US mRNA therapeutics market. Firstly, the rapid evolution of mRNA technology has enabled the development of novel therapeutic approaches with the potential to revolutionize the treatment of various diseases. mRNA vaccines, in particular, have gained widespread attention and acceptance following their successful application in combating the COVID-19 pandemic. Additionally, the versatility of mRNA as a platform for drug delivery allows for the development of highly specific and customizable therapies tailored to individual patient profiles. Furthermore, favorable regulatory policies and increasing investments in biotechnology research further fuel the growth of the market.

US mRNA Therapeutics Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 13.21%
U.S. Market Size in 2023 USD 11.07 Billion
U.S. Market Size by 2033 USD 38.21 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Type, By Application, and By End User

US mRNA Therapeutics Market Dynamics

Drivers:

Several drivers are propelling the growth of the US mRNA therapeutics market. One of the primary drivers is the rising prevalence of chronic diseases such as cancer, cardiovascular disorders, and autoimmune conditions, driving the demand for effective and targeted treatment options. Moreover, the growing aging population and increasing healthcare expenditure contribute to the expansion of the market. Additionally, the success of mRNA-based COVID-19 vaccines has boosted confidence in mRNA technology, leading to increased investment and research in this field. Furthermore, advancements in drug delivery systems and manufacturing technologies enhance the feasibility and scalability of mRNA therapeutics, driving market growth.

Opportunities:

The US mRNA therapeutics market presents several opportunities for growth and innovation. Firstly, there is significant potential for the development of mRNA vaccines targeting infectious diseases beyond COVID-19, including influenza, Zika virus, and respiratory syncytial virus (RSV). Moreover, mRNA technology holds promise for the treatment of rare genetic disorders by enabling the delivery of functional proteins to restore cellular function. Furthermore, expanding applications of mRNA therapeutics in oncology, immunology, and regenerative medicine offer lucrative opportunities for market players. Additionally, partnerships and collaborations between academia, industry, and regulatory bodies facilitate the translation of research findings into clinical applications, driving market expansion.

Restraints:

Despite the promising outlook, the US mRNA therapeutics market faces certain restraints that may impede growth. One of the primary challenges is the complexity and cost associated with mRNA manufacturing and formulation, limiting scalability and affordability of therapies. Additionally, the inherent instability of mRNA molecules presents challenges in terms of storage, delivery, and immunogenicity, which may hinder the development and commercialization of mRNA-based drugs. Moreover, regulatory hurdles and uncertainties surrounding the long-term safety and efficacy of mRNA therapeutics pose risks to market growth. Furthermore, competition from alternative therapeutic modalities such as gene editing and small molecule drugs adds to the competitive landscape.

Read Also: Telecom Electronic Manufacturing Services Market Size, Share, Report By 2033

Recent Developments:

  • In July 2023, MIT scientists are leading a three-year research study financed by the U.S. Food and Drug Administration (FDA) Center for Biologics Evaluation and Research that intends to build the first fully integrated, continuous mRNA production platform in history. The project is valued at $82 million. In addition to accelerating the development and production of mRNA technologies—which businesses are investing in at previously unheard-of levels in the hopes of creating novel vaccines and treatments for cancer, metabolic disorders, genetic diseases, and other conditions—the resulting pilot-scale system is meant to strengthen society’s capacity to respond to pandemics in the future.

Competitive Landscape:

The US mRNA therapeutics market is characterized by intense competition among biopharmaceutical companies striving to establish leadership positions and gain market share. Key players in the market include Moderna Therapeutics, BioNTech SE, CureVac AG, Translate Bio, and Arcturus Therapeutics, among others. These companies are engaged in strategic collaborations, licensing agreements, and acquisitions to expand their product portfolios and accelerate the development of mRNA-based therapies. Moreover, partnerships with academic institutions and research organizations enable access to cutting-edge technologies and expertise. Additionally, ongoing clinical trials and regulatory approvals play a crucial role in shaping the competitive landscape by validating the safety and efficacy of mRNA therapeutics and facilitating market penetration. Overall, the US mRNA therapeutics market is poised for robust growth driven by technological innovation, increasing investment, and evolving healthcare needs.

US mRNA Therapeutics Market Companies

  • GSK plc.
  • BioNTech SE
  • CureVac N.V.
  • Sangamo Therapeutics, Inc.
  • Translate Bio, Inc.
  • Moderna, Inc.
  • Argos Therapeutics Inc.
  • Arcturus Therapeutics
  • AstraZeneca plc.
  • Pfizer Inc.
  • CRISPR Therapeutics AG

Segments Covered in the Report

By Type

  • Therapeutic Vaccines
  • Prophylactic Vaccines
  • Therapeutic Drugs

By Application

  • Respiratory Diseases
  • Oncology
  • Rare Genetic Diseases
  • Infectious Diseases
  • Others

By End-use

  • Research Organizations
  • Hospitals & Clinics
  • Others

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/


Prathamesh

Leave a Reply

Your email address will not be published. Required fields are marked *