PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1886899
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1886899
mRNA Vaccines Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of mRNA vaccines Market
The global mRNA vaccines market continues to evolve rapidly as pharmaceutical innovations and infectious disease management strategies transform global vaccine development. The market was valued at USD 8.91 billion in 2024, supported by advances in genetic technologies, strong R&D pipelines, and sustained demand following the COVID-19 pandemic. In 2025, the market size is expected to adjust to USD 6.01 billion, reflecting normalization in COVID-19 vaccine demand; however, long-term prospects remain promising. By 2032, the mRNA vaccines market is projected to grow significantly, reaching USD 20.43 billion, driven by increasing applications across infectious diseases, oncology, autoimmune disorders, and personalized medicine.
North America dominated the global market in 2024 with 35.13% share, backed by strong healthcare infrastructure, high vaccine adoption, major biopharmaceutical manufacturers, and substantial government investment. Key players such as Moderna, Pfizer-BioNTech, and CureVac have strengthened their competitive positioning through continual R&D investments and the expansion of next-generation vaccine portfolios.
Market Dynamics
Market Drivers
A primary growth driver is the increase in research and development activities focused on expanding mRNA vaccine applications beyond COVID-19. The success of mRNA-based COVID-19 vaccines accelerated global interest in developing similar vaccines for influenza, RSV, HIV, and various emerging infectious diseases. Companies such as Moderna and BioNTech are expanding their investment commitments-Moderna, for instance, announced plans to invest USD 25 billion in R&D between 2024 and 2028. Such investments ensure robust pipelines and continued innovation.
Moreover, organizations are leveraging artificial intelligence for faster clinical development. Pfizer's adoption of the AI-driven Smart Data Query (SDQ) system accelerated clinical data review during the pandemic, highlighting the potential of AI-enabled vaccine development.
Market Restraints
Regulatory challenges continue to restrain market growth. Despite accelerated approvals during the pandemic, mRNA vaccines for other diseases face lengthy validation processes, particularly in the U.S. FDA's IND and BLA pathways. Complexities in standardizing manufacturing protocols, ensuring cold-chain requirements, and maintaining mRNA stability add further regulatory pressure.
Market Opportunities
Expanding applications of mRNA vaccines present substantial opportunities. Beyond infectious diseases, mRNA technology is being explored for cancer vaccines, autoimmune diseases, and rare genetic disorders. With strong pipeline momentum and increasing clinical trials globally, the non-COVID-19 segment is expected to accelerate over the next decade. The World Health Organization's 2024 initiative to develop an advanced mRNA vaccine for avian influenza (H5N1) further strengthens future opportunities.
Market Challenges
Public vaccine hesitancy remains a major challenge, particularly in regions with misinformation, low awareness, or weaker healthcare access. Intellectual property conflicts-such as disputes involving Moderna and Arbutus-also impact competitive dynamics. Additionally, the complexity of large-scale mRNA vaccine production, involving sensitive cold storage and advanced lipid nanoparticle delivery systems, poses manufacturing challenges for emerging markets.
Market Trends
Technological Advancements
Key trends include the development of self-amplifying mRNA, improved lipid nanoparticle (LNP) delivery systems, and AI-guided clinical research. These innovations enhance vaccine efficacy, reduce dosing frequency, and lower production costs. Continuous regulatory support from agencies such as the U.S. FDA and EMA is also contributing to faster vaccine innovation cycles.
Strategic Collaborations
Collaborations are rising across the sector. BioNTech's partnership with CEPI in 2023 to develop vaccines for Mpox and malaria reflects strategic global interest in emerging infectious diseases.
Segmentation Insights
By Type:
The COVID-19 vaccines segment dominated in 2024 due to global vaccination campaigns. Meanwhile, the non-COVID-19 vaccine segment is expanding rapidly with RSV, influenza, rabies, and cancer vaccine pipelines growing in clinical significance.
By Indication:
COVID-19 infection held the largest share in 2024 owing to booster requirements and evolving variants. RSV vaccines, including Moderna's FDA-approved mRESVIA (2024), show strong growth potential.
By Distribution Channel:
Hospital and retail pharmacies led the market in 2024 due to large-scale vaccination infrastructure established during the pandemic. Government suppliers also contributed significantly through mass immunization programs.
Regional Outlook
North America dominated with USD 3.13 billion in 2024 due to robust research capabilities, strong regulatory frameworks, and large-scale manufacturing.
Europe ranked second, supported by favorable vaccination policies and high acceptance rates.
Asia Pacific is expected to see the fastest future growth, driven by rising infectious disease prevalence and expanding biotech investments.
Rest of the World continues to benefit from new manufacturing facilities, such as BioNTech's mRNA plant in Rwanda (2023).
Conclusion
The global mRNA vaccines market is on a dynamic growth trajectory from USD 8.91 billion (2024) to USD 20.43 billion (2032). With expanding applications, technological breakthroughs, and rising global investment, mRNA vaccines are positioned to remain a transformative force in modern medicine.
Segmentation By Type
- COVID-19 Vaccines
- Non-COVID-19 Vaccines
By Indication
- COVID-19 Infection
- Respiratory Syncytial Virus (RSV) Infection
- Others
By Distribution Channel
- Hospital & Retail Pharmacies
- Government Suppliers
- Others
By Region
- North America (By Type, Indication, Distribution Channel, and Country)
- U.S.
- Canada
- Europe (By Type, Indication, Distribution Channel, and Country/Sub-region)
- Germany
- U.K.
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
- Asia Pacific (By Type, Indication, Distribution Channel, and Country/Sub-region)
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Rest of the World (By Type, Indication, and Distribution Channel)
Table of Content
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
4. Key Insights
- 4.1. New Product Launches, By Key Players
- 4.2. Pipeline Analysis, By Key Players
- 4.3. Technological Advancements in the mRNA Vaccines Market
- 4.4. Incidence/Prevalence of Key Diseases, 2024
- 4.5. Key Industry Developments (Mergers, Acquisitions, and Partnerships, etc.)
5. Global mRNA Vaccines Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast - By Type
- 5.1.1. COVID-19 Vaccines
- 5.1.2. Non-COVID-19 Vaccines
- 5.2. Market Analysis, Insights and Forecast - By Indication
- 5.2.1. COVID-19 Infection
- 5.2.2. Respiratory syncytial virus (RSV) Infection
- 5.2.3. Others
- 5.3. Market Analysis, Insights and Forecast - By Distribution Channel
- 5.3.1. Hospital & Retail Pharmacies
- 5.3.2. Government Suppliers
- 5.3.3. Others
- 5.4. Market Analysis, Insights and Forecast - By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Rest of the World
6. North America mRNA Vaccines Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast - By Type
- 6.1.1. COVID-19 Vaccines
- 6.1.2. Non-COVID-19 Vaccines
- 6.2. Market Analysis, Insights and Forecast - By Indication
- 6.2.1. COVID-19 Infection
- 6.2.2. Respiratory syncytial virus (RSV) Infection
- 6.2.3. Others
- 6.3. Market Analysis, Insights and Forecast - By Distribution Channel
- 6.3.1. Hospital & Retail Pharmacies
- 6.3.2. Government Suppliers
- 6.3.3. Others
- 6.4. Market Analysis, Insights and Forecast - By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe mRNA Vaccines Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast - By Type
- 7.1.1. COVID-19 Vaccines
- 7.1.2. Non-COVID-19 Vaccines
- 7.2. Market Analysis, Insights and Forecast - By Indication
- 7.2.1. COVID-19 Infection
- 7.2.2. Respiratory syncytial virus (RSV) Infection
- 7.2.3. Others
- 7.3. Market Analysis, Insights and Forecast - By Distribution Channel
- 7.3.1. Hospital & Retail Pharmacies
- 7.3.2. Government Suppliers
- 7.3.3. Others
- 7.4. Market Analysis, Insights and Forecast - By Country/Sub-region
- 7.4.1. U.K.
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Spain
- 7.4.5. Italy
- 7.4.6. Scandinavia
- 7.4.7. Rest of Europe
8. Asia Pacific mRNA Vaccines Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast - By Type
- 8.1.1. COVID-19 Vaccines
- 8.1.2. Non-COVID-19 Vaccines
- 8.2. Market Analysis, Insights and Forecast - By Indication
- 8.2.1. COVID-19 Infection
- 8.2.2. Respiratory syncytial virus (RSV) Infection
- 8.2.3. Others
- 8.3. Market Analysis, Insights and Forecast - By Distribution Channel
- 8.3.1. Hospital & Retail Pharmacies
- 8.3.2. Government Suppliers
- 8.3.3. Others
- 8.4. Market Analysis, Insights and Forecast - By Country/Sub-region
- 8.4.1. Japan
- 8.4.2. China
- 8.4.3. India
- 8.4.4. Australia
- 8.4.5. Southeast Asia
- 8.4.6. Rest of Asia Pacific
9. Rest of the World mRNA Vaccines Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast - By Type
- 9.1.1. COVID-19 Vaccines
- 9.1.2. Non-COVID-19 Vaccines
- 9.2. Market Analysis, Insights and Forecast - By Indication
- 9.2.1. COVID-19 Infection
- 9.2.2. Respiratory syncytial virus (RSV) Infection
- 9.2.3. Others
- 9.3. Market Analysis, Insights and Forecast - By Distribution Channel
- 9.3.1. Hospital & Retail Pharmacies
- 9.3.2. Government Suppliers
- 9.3.3. Others
10. Competitive Analysis
- 10.1. Global Market Share Analysis (2024)
- 10.2. Company Profiles (Overview, Products, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 10.2.1. Moderna Inc.
- 10.2.1.1. Overview
- 10.2.1.2. Products & services
- 10.2.1.3. SWOT Analysis
- 10.2.1.4. Recent Developments
- 10.2.1.5. Strategies
- 10.2.1.6. Financials (Based on Availability)
- 10.2.2. BioNTech
- 10.2.2.1. Overview
- 10.2.2.2. Products & services
- 10.2.2.3. SWOT Analysis
- 10.2.2.4. Recent Developments
- 10.2.2.5. Strategies
- 10.2.2.6. Financials (Based on Availability)
- 10.2.3. CureVac SE
- 10.2.3.1. Overview
- 10.2.3.2. Products & services
- 10.2.3.3. SWOT Analysis
- 10.2.3.4. Recent Developments
- 10.2.3.5. Strategies
- 10.2.3.6. Financials (Based on Availability)
- 10.2.4. GSK plc
- 10.2.4.1. Overview
- 10.2.4.2. Products & services
- 10.2.4.3. SWOT Analysis
- 10.2.4.4. Recent Developments
- 10.2.4.5. Strategies
- 10.2.4.6. Financials (Based on Availability)
- 10.2.5. Sanofi
- 10.2.5.1. Overview
- 10.2.5.2. Products & services
- 10.2.5.3. SWOT Analysis
- 10.2.5.4. Recent Developments
- 10.2.5.5. Strategies
- 10.2.5.6. Financials (Based on Availability)
- 10.2.6. Pfizer Inc.
- 10.2.6.1. Overview
- 10.2.6.2. Products & services
- 10.2.6.3. SWOT Analysis
- 10.2.6.4. Recent Developments
- 10.2.6.5. Strategies
- 10.2.6.6. Financials (Based on Availability)
- 10.2.7. Gennova Biopharmaceuticals Limited
- 10.2.7.1. Overview
- 10.2.7.2. Products & services
- 10.2.7.3. SWOT Analysis
- 10.2.7.4. Recent Developments
- 10.2.7.5. Strategies
- 10.2.7.6. Financials (Based on Availability)
- 10.2.8. Walvax Biotechnology Co., Ltd.
- 10.2.8.1. Overview
- 10.2.8.2. Products & services
- 10.2.8.3. SWOT Analysis
- 10.2.8.4. Recent Developments
- 10.2.8.5. Strategies
- 10.2.8.6. Financials (Based on Availability)
- 10.2.9. Arcturus Therapeutics
- 10.2.9.1. Overview
- 10.2.9.2. Products & services
- 10.2.9.3. SWOT Analysis
- 10.2.9.4. Recent Developments
- 10.2.9.5. Strategies
- 10.2.9.6. Financials (Based on Availability)
- 10.2.1. Moderna Inc.
List of Tables
- Table 1: Global mRNA Vaccines Market Revenue (USD billion) Forecast, by Type, 2019-2032
- Table 2: Global mRNA Vaccines Market Revenue (USD billion) Forecast, by Indication, 2019-2032
- Table 3: Global mRNA Vaccines Market Revenue (USD billion) Forecast, by Distribution Channel, 2019-2032
- Table 4: Global mRNA Vaccines Market Revenue (USD billion) Forecast, by Region, 2019-2032
- Table 5: North America mRNA Vaccines Market Revenue (USD billion) Forecast, by Type, 2019-2032
- Table 6: North America mRNA Vaccines Market Revenue (USD billion) Forecast, by Indication, 2019-2032
- Table 7: North America mRNA Vaccines Market Revenue (USD billion) Forecast, by Distribution Channel, 2019-2032
- Table 8: North America mRNA Vaccines Market Revenue (USD billion) Forecast, By Country, 2019-2032
- Table 9: Europe mRNA Vaccines Market Revenue (USD billion) Forecast, by Type, 2019-2032
- Table 10: Europe mRNA Vaccines Market Revenue (USD billion) Forecast, by Indication, 2019-2032
- Table 11: Europe mRNA Vaccines Market Revenue (USD billion) Forecast, by Distribution Channel, 2019-2032
- Table 12: Europe mRNA Vaccines Market Revenue (USD billion) Forecast, By Country/ Sub-region, 2019-2032
- Table 13: Asia Pacific mRNA Vaccines Market Revenue (USD billion) Forecast, by Type, 2019-2032
- Table 14: Asia Pacific mRNA Vaccines Market Revenue (USD billion) Forecast, by Indication, 2019-2032
- Table 15: Asia Pacific mRNA Vaccines Market Revenue (USD billion) Forecast, by Distribution Channel, 2019-2032
- Table 16: Asia Pacific mRNA Vaccines Market Revenue (USD billion) Forecast, By Country/ Sub-region, 2019-2032
- Table 17: Rest of the World mRNA Vaccines Market Revenue (USD billion) Forecast, by Type, 2019-2032
- Table 18: Rest of the World mRNA Vaccines Market Revenue (USD billion) Forecast, by Indication, 2019-2032
- Table 19: Rest of the World mRNA Vaccines Market Revenue (USD billion) Forecast, by Distribution Channel, 2019-2032a
List of Figures
- Figure 1: Global mRNA Vaccines Market Revenue Breakdown (USD billion, %) by Region, 2024 & 2032
- Figure 2: Global mRNA Vaccines Market Value Share (%), by Type, 2024 & 2032
- Figure 3: Global mRNA Vaccines Market Value Share (%), by Indication, 2024 & 2032
- Figure 4: Global mRNA Vaccines Market Value Share (%), by Distribution Channel, 2024 & 2032
- Figure 5: Global mRNA Vaccines Market Value Share (%), by Region, 2024 & 2032
- Figure 6: North America mRNA Vaccines Market Value (USD billion), by Type, 2024 & 2032
- Figure 7: North America mRNA Vaccines Market Value Share (%), by Type, 2024
- Figure 8: North America mRNA Vaccines Market Value (USD billion), by Indication, 2024 & 2032
- Figure 9: North America mRNA Vaccines Market Value Share (%), by Indication, 2024
- Figure 10: North America mRNA Vaccines Market Value (USD billion), by Distribution Channel, 2024 & 2032
- Figure 11: North America mRNA Vaccines Market Value Share (%), by Distribution Channel, 2024
- Figure 12: North America mRNA Vaccines Market Value (USD billion), By Country, 2024 & 2032
- Figure 13: North America mRNA Vaccines Market Value Share (%), By Country, 2024
- Figure 14: Europe mRNA Vaccines Market Value (USD billion), by Type, 2024 & 2032
- Figure 15: Europe mRNA Vaccines Market Value Share (%), by Type, 2024
- Figure 16: Europe mRNA Vaccines Market Value (USD billion), by Indication, 2024 & 2032
- Figure 17: Europe mRNA Vaccines Market Value Share (%), by Indication, 2024
- Figure 18: Europe mRNA Vaccines Market Value (USD billion), by Distribution Channel, 2024 & 2032
- Figure 19: Europe mRNA Vaccines Market Value Share (%), by Distribution Channel, 2024
- Figure 20: Europe mRNA Vaccines Market Value (USD billion), By Country/ Sub-region, 2024 & 2032
- Figure 21: Europe mRNA Vaccines Market Value Share (%), By Country/ Sub-region, 2024
- Figure 22: Asia Pacific mRNA Vaccines Market Value (USD billion), by Type, 2024 & 2032
- Figure 23: Asia Pacific mRNA Vaccines Market Value Share (%), by Type, 2024
- Figure 24: Asia Pacific mRNA Vaccines Market Value (USD billion), by Indication, 2024 & 2032
- Figure 25: Asia Pacific mRNA Vaccines Market Value Share (%), by Indication, 2024
- Figure 26: Asia Pacific mRNA Vaccines Market Value (USD billion), by Distribution Channel, 2024 & 2032
- Figure 27: Asia Pacific mRNA Vaccines Market Value Share (%), by Distribution Channel, 2024
- Figure 28: Asia Pacific mRNA Vaccines Market Value (USD billion), By Country/ Sub-region, 2024 & 2032
- Figure 29: Asia Pacific mRNA Vaccines Market Value Share (%), By Country/ Sub-region, 2024
- Figure 30: Rest of the World mRNA Vaccines Market Value (USD billion), by Type, 2024 & 2032
- Figure 31: Rest of the World mRNA Vaccines Market Value Share (%), by Type, 2024
- Figure 32: Rest of the World mRNA Vaccines Market Value (USD billion), by Indication, 2024 & 2032
- Figure 33: Rest of the World mRNA Vaccines Market Value Share (%), by Indication, 2024
- Figure 34: Rest of the World mRNA Vaccines Market Value (USD billion), by Distribution Channel, 2024 & 2032
- Figure 35: Rest of the World mRNA Vaccines Market Value Share (%), by Distribution Channel, 2024
- Figure 36: Global mRNA Vaccines Market Share (%), By Company, 2024
