The global mRNA Cancer Vaccines and Therapeutics Market is expected to reach USD 108.94 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 17.00% from 2022 to 2028. mRNA cancer vaccines are considered a relatively new type of vaccine, which has the potential of combining mRNA to encode any protein with a high safety standard and a flexible production process. The most straightforward approach to mRNA vaccines in cancer is expected to show positive results for patients with mRNA vaccines. The high production of personalized vaccines is another advantage of mRNA vaccines. This is possible because they are produced by a generic process and can be used in cellular therapies.
- The cancer vaccine sub-segment is anticipated to dominate the segment for mRNA Cancer Vaccines and Therapeutics Market and growing at a substantial Compound Annual Growth Rate (CAGR). The rise in adoption is due to the increase in cancer patients is likely to generate demand for this segment in coming years.
- The Hospitals & Clinics sub-segment held a market significant share in 2021. This is due to the growing investments in hospitals & clinics for mRNA vaccines.
- North America is the largest regional segment. This surge is attributed to the rising demand for mRNA vaccines & therapeutics in developed economies such as U.S. and Canada.
Some of key players in mRNA Cancer Vaccines and Therapeutics Market includes, 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)..
In recent years, many major pharmaceutical players are creating tailored made mRNA-based cancer vaccines that can deliver single medicine to a single patient at a time. As it is injected into the patient, the vaccine has high potential that directs the patient cells to express the selected neoepitopes, which in turn, helps the patient’s immune system to better recognize cancer cells and destroy them. Many clinical trials are currently being tested with mRNA treatment vaccines in patients prone to various types of cancer such as pancreatic cancer, colorectal cancer, and melanoma. Some vaccines are being evaluated in combination with drugs that enhance the body’s immune response to tumors. All these benefits of mRNA vaccines & therapeutics which is expected to generate revenue in the coming years.
North America is expected to dominate the global mRNA Cancer Vaccines and Therapeutics Market in 2021 and is likely to continue the same trend during the forecast period. The growing need for getting acquainted with and integrating mRNA cancer vaccines in this region is likely to provide cost-effective and qualitative data on patients’ health. As a result, many global pharmaceutical companies are investing in the mRNA Cancer Vaccines and Therapeutics Market to capitalize on the growing opportunities. In addition, the COVID-19 outbreak has resulted in an increased patient pool in the region, especially in countries such as China and India. The growing patient volume, along with the rising need for accurate & timely diagnosis will fuel the growth of the mRNA Cancer Vaccines and Therapeutics Market.
COVID-19 Impact Analysis
The coronavirus pandemic has thrown a spotlight on mRNA vaccines. Millions of people across the globe have received mRNA vaccines that have provided successful results against COVID-19. mRNA vaccines are showing stunning results, as researchers during the pandemic are continuously working to develop mRNA vaccines for the COVID-19 virus. Recently, scientists working in Pfizer-BioNTech and Moderna are developing mRNA cancer vaccines to create COVID-19 vaccines. Recent investigations believe the success of the mRNA COVID-19 vaccines could help accelerate clinical research on mRNA vaccines to treat cancer.