Global mRNA Cancer Vaccines and Therapeutics Market Expected to Grow and Reach a Revenue of USD 108.94 Billion in 2028
Cancer immunotherapies help modify the suppressive tumor microenvironment, activate the host anti-tumor immunity, and further result in tumor reduction along with an increased overall patients survival rate. mRNA vaccines are considered to be one of the promising platforms for cancer immunotherapy. The naked or vehicle-loaded mRNA vaccines during vaccination, efficiently express tumor antigens in antigen-presenting cells (APCs), innate/adaptive immune stimulation, and facilitate APC activation. mRNA cancer vaccine performs better than the other conventional vaccine platforms due to safe administration, high potency, rapid development potential, and cost-effective manufacturing. However, mRNA vaccine applications are limited by innate immunogenicity, instability, and ineffective in vivo delivery.
The increase in the prevalence of cancer across the globe is anticipated to augment the growth of the mRNA Cancer Vaccines and Therapeutics Market during the forecast period. Cancer is considered to be the leading cause of death attributable to the increase in alcohol consumption, tobacco intake, unhealthy diet, physical inactivity, air pollution, and ultraviolet radiation exposure, among others. As per World Health Organization estimations, nearly 10 million died due to cancer in 2020, which is nearly one in six deaths, and the most common cancers cases were breast with 2.26 million cases, lung with 2.21 million cases, colon and rectum with 1.93 million cases and prostate cancers with 1.41 million cases whereas the most common causes of cancer death in 2020 were lung with 1.80 million deaths, colon, and rectum with 916 000 deaths and liver with 830 000 deaths. As a result, the demand for mRNA cancer vaccines and therapeutics is also expected to increase in near future. Furthermore, the rising genetic disorders are also expected to support the growth of the market in the years to come.
However, the high cost of treatment along with the complexity of cancer limiting the immune response may hamper the growth of the market in the years to come. Moreover, the rise in Research and Development (R&D) activities in the field of biotechnology are expected to create immense opportunities for the growth of the market within the forecast period. Additionally, an increase in awareness about vaccination globally is also expected to create demand for mRNA vaccines in near future.
North America held the largest market share in 2021. This is attributable to the presence of prominent players operating in the region. Furthermore, the rising number of cancer cases owing to the changing lifestyles of the people is also expected to fuel the regional growth of the market. Additionally, an increase in Research and Development (R&D) activities in the field of cancer treatment are also expected to support the growth of the market in the region.
Some of the prominent players operating in the global mRNA Cancer Vaccines and Therapeutics Market include, Moderna Therapeutics (US), eTheRNA (Belgium), BioNTech (Germany), CureVac (Netherlands), In-Cell-Art (France), Translate Bio (US), Tiba Biotechnology (US), Argos Therapeutics (US), Sangamo Therapeutics (US), and Ethris (Germany)..
Browse the full Report - mRNA Cancer Vaccines and Therapeutics Market Size, Share & Trends Analysis Report by Application (Adeno Carcinomas, Mucinous Carcinomas, Adenosquamous Carcinomas), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, Research Institutes, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)