Global Vaccine Market Growth: The Key Role of mRNA Technology
Global Vaccine Market Growth: The Key Role of mRNA Technology
I have often been asked about COVID-19 vaccines, the technology behind them, and their real effectiveness. In this excerpt published by Dr. Santosh P., you will understand the science behind mRNA vaccines and the thriving market built around this technology.
Have you ever wondered how mRNA vaccines work? Here is a simple breakdown:
◼ Scientists extract the genetic code (mRNA) of the SARS-CoV-2 spike protein.
◼ The mRNA is coated with lipids, allowing it to enter human cells.
◼ Once inside, cells produce spike proteins, triggering the immune system to generate antibodies.
◼ These antibodies target the virus, preventing its replication.
This innovative technology has revolutionized the vaccine market, contributing to its remarkable growth.
Market Insights:
The global vaccine market is steadily increasing, reaching a value of $78.5 billion in 2023 and projected to grow to $94.9 billion by 2029, with a CAGR of 4.0%.
Excluding COVID-19 vaccines, the market is expected to grow from $53.0 billion in 2024 to $80.3 billion by 2029, showing an even stronger CAGR of 8.7%.
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