mRNA Vaccines Market Report, By Product Type (Monovalent mRNA Vaccines, Multivalent mRNA Vaccines), Vaccine Type (COVID-19 mRNA Vaccines, Influenza mRNA Vaccines, Other Infectious Disease mRNA Vaccines), End-Use (Hospitals & Clinics, Research Institutes, Others), Application (Infectious Diseases, Cancer, Other Therapeutic Areas), Age Group (Pediatrics, Adults), and Regions 2024-2032

Market Brief:

"The m-RNA vaccines market size reached US$ 12.1 Billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 23.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.4% during 2024-2032."

Messenger Ribonucleic Acid (mRNA) vaccines represent a revolutionary approach to vaccination. These vaccines utilize a small piece of genetic material such as mRNA to instruct cells to produce a harmless part of the target pathogen, triggering an immune response. mRNA vaccines offer various advantages, including rapid development, reduced manufacturing timelines, and potential for customization against various diseases. In the market, currently available mRNA vaccines include those for COVID-19, demonstrating efficacy in controlling pandemics. Researchers are also exploring mRNA vaccines for other infectious diseases and even cancer immunotherapy, showcasing potential to revolutionize preventive medicine and therapeutic approaches.

The global messenger Ribonucleic Acid (mRNA) vaccines market is registering steady revenue growth due to innovative approach in disease prevention. Market revenue growth is boosted by increasing adoption, especially evident with the rapid development and deployment of mRNA COVID-19 vaccines. These vaccines have transformed the vaccination landscape, offering advantages such as accelerated production, flexibility in addressing variants, and strong immune responses. Initiatives from governments and organizations have supported research and production, further boosting market revenue growth. The mRNA vaccines market is expected to expand beyond infectious diseases, potentially covering cancer and other conditions. In-depth analysis indicates a paradigm shift in vaccine development, driving advancements in preventive healthcare.

Extensive analysis and insights are available to help businesses make informed decisions in this evolving industry. 

Clarity and understanding of market trends help companies tailor products to meet customer demands more effectively.

Messenger Ribonucleic Acid (mRNA) Vaccines Market Report Overview:

The global messenger Ribonucleic Acid (mRNA) vaccines market research report provides comprehensive insights into driving factors, restraints, opportunities, and trends, with provision of in-depth supporting information, data, and statistics and actionable insights.

Though covered and provided extensively across the report, the data and information format are simple, yet dynamic in order to ensure ease of reading and understanding, as well as presenting and maximizing leverage and use.

Revenues and market share are provided in detail for previous years in order to showcase the evidence upon which our estimations and forecasts are based.

Revenue growth rates and differences, as well as comparisons and relatable data are provided to further support all findings. Data points are provided for each year – from historical to end of forecast period – and this format is followed for each segment region and respective countries, as well as sub-segments and others.

Vital details of major companies in the market are provided in the company profile section of the report. Cover includes financials, recent developments, research & development, strategies, product launches, agreements, expansion, mergers & acquisitions, and others.  

The global messenger Ribonucleic Acid (mRNA) vaccines market research report is segmented on basis of product type, vaccine type, end-use, application, age group and regions and countries. Regional segmentation includes North America (United States and Canada); Europe (Germany, United Kingdom, France, Italy, Spain, Russia, Poland, BENELUX, NORDIC, and Rest of Europe); Asia Pacific (China, India, Japan, South Korea, ASEAN, Australia & New Zealand, & Rest of Asia Pacific); Latin America (Brazil, Mexico, Argentina, & Rest of Latin America); Middle East & Africa (Saudi Arabia, South Africa, United Arab Emirates, Egypt, Israel, and Rest of Middle East & Africa).

Messenger Ribonucleic Acid (mRNA) Vaccines Market Research and Insights:

Global messenger Ribonucleic Acid (mRNA) vaccines market research is comprehensive and the report provides in-depth details of the various factors, trends, patterns, and scenarios and aspects that have a direct or indirect impact, near-term or far-term on the market and products and services etc.

Some more detailed insights on the market are provided below: 

Innovative Vaccine Technology: Utilization of mRNA in vaccine development represents a revolutionary breakthrough, allowing rapid design and production of vaccines against various diseases. This innovation accelerates the development timeline, leading to quicker response to emerging threats.

COVID-19 Pandemic Acceleration: The global pandemic highlighted agility of mRNA technology. Swift creation and approval of COVID-19 mRNA vaccines demonstrated the potential for addressing urgent health crises, leading to an increase in investment and research for broader applications.

Flexible Vaccine Platforms: mRNA vaccines offer a versatile platform that can be adapted for different pathogens. This adaptability reduces the time and resources required to design and manufacture vaccines for new diseases, leading to increased revenue through more rapid product development.

Strong Immune Responses: mRNA vaccines induce robust immune responses, including both humoral and cellular immunity. This high immune reaction enhances the efficacy of these vaccines, contributing to popularity and demand.

Broader Therapeutic Potential: Beyond infectious diseases, mRNA technology is being explored for potential in treating cancer, autoimmune disorders, and other medical conditions. This expansion into therapeutics opens new revenue streams and widens the market scope.

Supportive Regulatory Environment: Regulatory agencies' responsiveness and collaboration during the COVID-19 pandemic paved the way for expedited vaccine approvals. This positive regulatory stance encourages investment and innovation in the mRNA vaccines market, supporting market revenue growth.

What Factors Are Restraining Growth of Messenger Ribonucleic Acid (mRNA) Vaccines Market?

Despite the various positive factors and growth prospects in the global market, some restraints and factors are having negative impacts on revenue growth. Some key factors include:

Production Complexities: mRNA vaccines require specialized manufacturing processes, including cold storage and precise synthesis techniques. These complexities can lead to production challenges, limiting scalability and availability of vaccines and affecting market revenue growth.

Supply Chain Vulnerabilities: Intricate supply chain for mRNA vaccines is susceptible to disruptions, impacting timely distribution. Supply chain issues can cause delays in vaccine delivery, hampering revenue generation and vaccine accessibility.

Distribution and Storage Challenges: Need for ultra-cold storage for some mRNA vaccines poses logistical challenges, particularly in regions with limited infrastructure. This can limit reach and hamper revenue growth in certain markets.

High Costs: Developing and manufacturing mRNA vaccines can be costly due to the advanced technology and specialized equipment required. High production costs can lead to pricing challenges and affect revenue potential.

Regulatory Hurdles: Despite the accelerated approvals during the COVID-19 pandemic, regulatory requirements for mRNA vaccines can still pose barriers to market entry. Stringent regulatory processes can delay product launches and impact revenue generation.

Public Acceptance and Misinformation: Vaccine hesitancy and misinformation about mRNA technology can lead to lower public acceptance rates. This affects demand for mRNA vaccines and subsequently impacts revenue potential for manufacturers.

What are the Opportunities for Leading Messenger Ribonucleic Acid (mRNA) Vaccines Manufacturers? 

Companies operating in the global messenger Ribonucleic Acid (mRNA) vaccines market can leverage various opportunities and revenue streams to drive growth and profitability. Below are some avenues and insights:

Global Vaccination Campaigns: mRNA vaccine manufacturers have an opportunity to supply vaccines for ongoing and future global vaccination campaigns against infectious diseases. Collaborating with governments, international organizations, and NGOs can ensure a consistent revenue stream while contributing to public health.

Research and Development: Investing in research to expand the application of mRNA technology beyond COVID-19 vaccines can open new revenue streams. Developing mRNA vaccines for other diseases or therapeutic areas can diversify product portfolios and tap into unexplored markets.

Strategic Partnerships: Collaborating with pharmaceutical companies, research institutions, and universities can lead to mutually beneficial partnerships. Joint ventures can expedite research, development, and manufacturing, resulting in increased revenue through shared expertise and resources.

Technology Licensing: mRNA technology has applications beyond vaccines, such as in personalized medicine and cancer therapies. Licensing the technology to other industries can generate revenue streams while leveraging the core technology's potential.

Capacity Building: Expanding manufacturing capabilities and enhancing production efficiency can enable mRNA vaccine manufacturers to meet global demand more effectively. Providing contract manufacturing services to other vaccine developers can be a lucrative revenue opportunity.

Education and Outreach: Educating healthcare professionals, regulators, and the public about mRNA vaccines' benefits and safety can support greater acceptance and demand. Companies can invest in comprehensive educational campaigns to build trust and drive revenue growth.

Region-wise Analysis of Messenger Ribonucleic Acid (mRNA) Vaccines Market:

Regional analysis of the global messenger Ribonucleic Acid (mRNA) vaccines market reveals key regions and countries with significant potential. The global mRNA vaccines market registers varying potential across regions. North America, driven by advanced healthcare infrastructure and strong research capabilities, holds a significant market share. Europe, with robust regulatory framework and vaccine acceptance, contributes substantially. Emerging economies such as China and India register immense potential due to large populations and increasing healthcare investments. The Middle East and Africa are progressively adopting mRNA vaccines, driven by government initiatives and rising awareness. Latin America holds promise, with increasing vaccine access and partnerships for production. As global demand for mRNA vaccines continues, regions with proactive healthcare policies, manufacturing capacity, and public trust are expected for higher revenue and demand.

North America:

North America holds a significant share in the global mRNA vaccines market due to advanced research capabilities, robust regulatory frameworks, and high healthcare expenditure. The US, a leader in mRNA vaccine development, registers strong revenue growth boosted by vaccine acceptance and government support. Canada follows suit, driven by an increasing elderly population and emphasis on vaccination.

Europe:

Europe accounts for a considerable market share attributed to strong healthcare infrastructure and regulatory standards. Countries such as Germany and the UK register substantial revenue growth due to high vaccine adoption rates. The European Medicines Agency's endorsement of mRNA vaccines further boosts growth. Initiatives promoting vaccine availability and partnerships with manufacturers contribute to the region's positive outlook.

Asia Pacific:

The Asia Pacific market registers substantial revenue growth driven by large population base and increasing healthcare investments. China, a frontrunner in vaccine manufacturing, registers significant demand. India's proactive vaccination campaigns and government partnerships accelerate revenue growth. Emerging markets such as South Korea and Japan show potential as these countries adopt mRNA vaccine technologies and expand healthcare facilities.

Latin America:

Latin America registers an increasing preference for mRNA vaccines due to rising awareness and increasing vaccine availability. Brazil, with comprehensive immunization programs, contributes to regional revenue growth. Mexico follows suit with vaccine campaigns and government initiatives. Partnerships with pharmaceutical companies and regional vaccine distribution efforts support market prospects.

Middle East & Africa:

The Middle East & Africa are adopting mRNA vaccines through government-driven campaigns and initiatives. The UAE and Saudi Arabia lead in revenue growth due to swift vaccination rollout and investments in healthcare infrastructure. African countries such as South Africa show increasing vaccine demand, supported by collaborations with vaccine manufacturers and global health organizations. The region's commitment to vaccine equity and distribution contributes to market development.

Why is US the Largest Market for North America Messenger Ribonucleic Acid (mRNA) Vaccines Market? 

The United States holds the largest market share in North America due to various key factors. The US possesses a robust healthcare infrastructure, advanced research capabilities, and a well-established pharmaceutical industry. This foundation enables the rapid development, production, and distribution of mRNA vaccines. In addition, the US has been at the forefront of mRNA vaccine innovation, with companies such as Pfizer and Moderna originating from shores. These pioneering efforts have led to the successful development and emergency use authorization of COVID-19 mRNA vaccines. Moreover, the country has a strong regulatory framework, including the Food and Drug Administration (FDA), known for rigorous review processes, which instills confidence in the safety and efficacy of mRNA vaccines. Moreover, the US has a convention of high vaccine acceptance rates and a well-organized healthcare system that facilitates mass vaccination campaigns. The federal government's initiatives and investments in securing vaccine doses and coordinating distribution have further supported the US market revenue growth. Proactive approach of the US in addressing health crises, coupled with public-private partnerships, has created a favorable environment for adoption of mRNA vaccines. The country’s leadership in research, development, manufacturing, and regulatory processes has positioned it as a frontrunner in the global mRNA vaccine market, contributing significantly to position as the largest market for such vaccines.

Which Key Trends Drive the Messenger Ribonucleic Acid (mRNA) Vaccines Sales in Europe?

Various key trends are expected to drive Messenger Ribonucleic Acid (mRNA) vaccines sales in Europe. The ongoing COVID-19 pandemic has emphasized the importance of swift vaccine development and deployment. Success of mRNA vaccines in combating the virus has boosted credibility and trust among the public, paving the way for increased acceptance and demand. In addition, advancements in biotechnology and molecular medicine have enabled faster and more efficient mRNA vaccine production processes. This is expected to lead to the development of vaccines for other diseases beyond COVID-19, driving revenue growth of the market in this region.

Governments and healthcare authorities across Europe are investing in vaccine manufacturing capabilities and distribution infrastructure to enhance preparedness for future pandemics. This proactive approach is expected to support the availability and accessibility of mRNA vaccines. Also, collaborative efforts between pharmaceutical companies, research institutions, and public health agencies are supporting innovation in vaccine development and production techniques. These partnerships can lead to more effective and targeted mRNA vaccines for various diseases. Moreover, rising awareness among the population about the potential benefits of mRNA vaccines, along with favorable regulatory environments, are expected to encourage adoption of these vaccines in routine immunization programs. As Europe continues to address health challenges and seeks sustainable solutions, these trends are expected to play a crucial role in driving the sales and widespread use of Messenger Ribonucleic Acid (mRNA) vaccines across the continent.

Why is Investment in China and India Key to Growth of the Asia Pacific Messenger Ribonucleic Acid (mRNA) Vaccines Market?

Investing in China and India holds significant importance for revenue growth of the global Messenger Ribonucleic Acid (mRNA) vaccines market. These countries possess vast populations, making them potential epicenters for disease outbreaks. As such, demand for effective and rapid vaccine solutions, such as mRNA vaccines, is substantial. In addition, both China and India have been actively investing in biotechnology and pharmaceutical research, leading to an increase in vaccine development capabilities. Growing infrastructure, manufacturing capacities, and research expertise position them as key players in the mRNA vaccine production ecosystem. Moreover, these countries are becoming attractive destinations for clinical trials and research collaborations, providing access to diverse patient populations and accelerating vaccine testing and validation. Furthermore, the economic and logistical advantages these countries offer can contribute to cost-effective vaccine production and distribution on a global scale. Collaborations between local research institutions, pharmaceutical companies, and international partners are further driving advancements in mRNA vaccine development. By investing in these markets, global stakeholders can tap into the potential of immense vaccine demand, accelerated research, cost-effective production, and strategic partnerships, which collectively contribute to revenue growth and sustainability of the global Messenger Ribonucleic Acid (mRNA) vaccines market

Which Countries in Latin America will be at the Forefront of Growth for Messenger Ribonucleic Acid (mRNA) Vaccines Manufacturers? 

Various countries in Latin America present lucrative opportunities for Messenger Ribonucleic Acid (mRNA) Vaccines providers due to evolving healthcare systems and increasing demand for advanced vaccine solutions. Brazil, as the largest economy in the region, holds significant potential with a large population and an increasing emphasis on healthcare infrastructure. Mexico, another major player, which is a robust pharmaceutical industry and a diverse population that requires a variety of vaccines. Argentina, with well-established biotech sector and scientific expertise, is also an attractive destination for mRNA vaccine development and production. In addition, countries such as Chile and Colombia are focusing on improving healthcare access, creating a favorable environment for innovative vaccine technologies. These countries are increasingly collaborating with international pharmaceutical companies and research institutions to strengthen vaccine capabilities. The region's vulnerability to infectious diseases and the need for effective preventive measures, combined with supportive government policies, provide a conducive environment for mRNA vaccine providers. As these countries continue to invest in healthcare, research, and technological advancements, these open doors for partnerships and market entry for Messenger Ribonucleic Acid (mRNA) Vaccines providers to cater to populations' health needs.

What is the Outlook on Messenger Ribonucleic Acid (mRNA) Vaccines Sales in Middle East & Africa? 

The outlook for Messenger Ribonucleic Acid (mRNA) Vaccines providers in the Middle East and Africa (MEA) region is marked by a combination of challenges and opportunities. While the region has historically faced health disparities and infectious disease burdens, recent advancements in healthcare infrastructure, research, and development have opened doors for innovative vaccine solutions such as mRNA vaccines. The MEA region is showing increasing interest in adopting advanced healthcare technologies, driven by the need to address health crises and improve overall public health. Countries such as the United Arab Emirates (UAE), Saudi Arabia, and Israel are investing heavily in healthcare innovation and have the resources to support adoption of cutting-edge vaccines. Furthermore, the ongoing global pandemic has underscored the importance of vaccine development and production capabilities within the region. Governments in the Middle East and Africa are recognizing the significance of self-reliance in vaccine supply and are thus seeking to support domestic manufacturing capacities, including for mRNA vaccines. International collaborations and partnerships are also on the rise, as these countries work with global pharmaceutical companies and research institutions to secure access to advanced vaccine technologies.

However, challenges such as vaccine distribution, regulatory frameworks, and vaccine acceptance among diverse populations remain areas of focus. Socioeconomic disparities, political instability, and varying healthcare infrastructures across the region create complexity for vaccine distribution and implementation. In addition, addressing vaccine hesitancy and ensuring equitable access to mRNA vaccines are essential for successful adoption.

Leading Messenger Ribonucleic Acid (mRNA) Vaccines Manufacturers & Competitive Landscape:

The global messenger Ribonucleic Acid (mRNA) vaccines market is registering intense competition as demand for innovative vaccine solutions grows rapidly. Leading pharmaceutical and biotechnology companies are actively involved in the development, manufacturing, and distribution of mRNA vaccines, resulting in a dynamic competitive landscape.

Among the frontrunners in this arena are Pfizer-BioNTech and Moderna, which have garnered significant attention and market share due to pioneering COVID-19 mRNA vaccines. Pfizer-BioNTech's BNT162b2 and Moderna's mRNA-1273 vaccines were among the first to receive emergency use authorization during the pandemic. Their success has not only positioned them as market leaders but has also demonstrated the effectiveness and potential of mRNA vaccine technology.

Both companies have established strong partnerships, invested in advanced manufacturing capabilities, and demonstrated ability to scale up production quickly. This agility allowed them to respond to the urgent global demand for COVID-19 vaccines. Their success has driven them to the forefront of the mRNA vaccines market, with a competitive advantage in terms of research expertise, manufacturing capacity, and regulatory approvals.

While Pfizer-BioNTech and Moderna have taken the lead, other prominent players in the market include CureVac, BioNTech's partner for mRNA vaccine development, as well as smaller biotechnology firms such as Arcturus Therapeutics and Translate Bio. These companies are actively engaged in developing mRNA vaccines not only for COVID-19 but also for a range of other infectious diseases and therapeutic applications.

The competitive landscape is marked by ongoing research and development, as companies explore the potential of mRNA technology beyond infectious diseases to treat cancers, rare genetic disorders, and autoimmune conditions. As a result, the market is expected to witness new entrants and collaborations, further intensifying the competition.

Company List:

• Pfizer-BioNTech
• Moderna
• CureVac
• Arcturus Therapeutics
• Translate Bio
• Novartis
• Sanofi
• Gritstone Oncology
• BioNTech
• Ethris
• eTheRNA Immunotherapies
• Acuitas Therapeutics
• In-Cell-Art
• Code Biotherapeutics
• Biontech AG

Research Scope

Report Metric	Report Details
Market size available for the years	2021-2032
Base Year	2023
Forecast Period	2024-2032
Compound Annual Growth Rate (CAGR)	7.4%
Segment covered	Product Type, Vaccine Type, End-Use, Application, Age Group, and Region
Regions Covered	North America: The U.S. & Canada Europe: Germany, The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe Asia Pacific: China, India, Japan, Australia & New Zealand, ASEAN, & Rest of Asia Pacific Latin America: Brazil, Mexico, Argentina, & Rest of Latin America The Middle East & Africa: Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, and Rest of MEA
Fastest Growing Country in Europe	Germany
Largest Market	North America
Key Players	Pfizer-BioNTech, Moderna, CureVac, Arcturus Therapeutics, Translate Bio, Novartis, Sanofi, Gritstone Oncology, BioNTech, Ethris, eTheRNA Immunotherapies, Acuitas Therapeutics, In-Cell-Art, Code Biotherapeutics, Biontech AG

Market Segmentation:

By Product Type:

• Monovalent mRNA Vaccines
• Multivalent mRNA Vaccines

By Vaccine Type:

• COVID-19 mRNA Vaccines
• Influenza mRNA Vaccines
• Other Infectious Disease mRNA Vaccines

By End-Use:

• Hospitals & Clinics
• Research Institutes
• Others

By Application:

• Infectious Diseases
• Cancer
• Other Therapeutic Areas

By Age Group:

• Pediatrics
• Adults

Segmentation By Region:

North America:

• United States
• Canada

Asia Pacific:

• China
• India
• Japan
• Australia & New Zealand
• Association of Southeast Asian Nations (ASEAN)
• Rest of Asia Pacific

Europe:

• Germany
• The U.K.
• France
• Spain
• Italy
• Russia
• Poland
• BENELUX (Belgium, the Netherlands, Luxembourg)
• NORDIC (Norway, Sweden, Finland, Denmark)
• Rest of Europe

Latin America:

• Brazil
• Mexico
• Argentina
• Rest of Latin America

The Middle East & Africa:

• Saudi Arabia
• United Arab Emirates
• South Africa
• Egypt
• Israel
• Rest of MEA (Middle East & Africa)