Canada mRNA Therapeutics Market Insights Forecasts to 2033

• The Canada mRNA Therapeutics Market Size was valued at USD 790.5 Million in 2023.
• The Market Size is growing at a CAGR of 14.35% from 2023 to 2033
• The Canada mRNA Therapeutics Market Size is expected to reach USD 3020.5 Million by 2033

The Canada mRNA Therapeutics Market Size is anticipated to exceed USD 3020.5 Million by 2033, growing at a CAGR of 14.35% from 2023 to 2033. The increasing prevalence of chronic & communicable diseases and the adoption of mRNA vaccinations are driving the growth of the mRNA therapeutics market in Canada. 

Market Overview

mRNA therapeutics is a new class of medications that are based on messenger RNA (mRNA), particularly useful in vaccine development. In mRNA therapy, protein synthesis is triggered within the cells. Because of the simplicity of the manufacturing and research of RNA therapeutics, as well as the flexibility to change RNA sequences to create tailored RNA therapy, mRNA therapeutics is expected to acquire enormous traction in a number of treatment modalities, including immunization and replacement therapy. Novel techniques like mRNA-based pluripotent stem cell induction, mRNA-assisted delivery of designer nucleases for genome engineering, and in vivo delivery of mRNA to replace or supplement proteins quickly emerged and entered pharmaceutical development in addition to cancer immunotherapies and infectious disease vaccines. Further, the integration of mRNA vaccine technology for tumor therapy and its potential for personalized cancer treatment strategies are expected to offer lucrative market growth opportunities for mRNA therapeutics. 

Report Coverage

This research report categorizes the market for the Canada mRNA therapeutics market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada mRNA therapeutics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada mRNA therapeutics market.  

Driving Factors

The expanding application of mRNA vaccines due to their huge superiority in efficacy, safety, and large-scale manufacture leads to drive the market demand for treating infectious diseases like life-threatening COVID-19. Further, the increased product approval is responsible for driving the market growth. For instance, mRESVIA (Respiratory Syncytial Virus mRNA vaccine) by Moderna, Inc. approved by Health Canada for treating lower respiratory tract disease caused by RSV.

Restraining Factors

mRNA therapeutics require enormous testing, experimentation, and analysis efforts owing to safety concerns including unintended consequences and immunological reactions that are challenging the mRNA therapeutics market.

Market Segmentation

The Canada mRNA Therapeutics Market share is classified into type, application, and end-use.

• The prophylactic segment dominated the market with the largest market share in 2023.

The Canada mRNA therapeutics market is segmented by type into prophylactic and therapeutic. Among these, the prophylactic segment dominated the market with the largest market share in 2023. mRNA is the only type of vaccine that fulfills the stringent safety requirements for vaccination of healthy children to prevent allergic sensitization. The increasing prevalence of diseases such as measles, mumps, and rubella (MMR), pneumococcal disease, poliovirus, hepatitis, and influenza along with increasing government initiatives are responsible for augmenting the market demand in the prophylactic segment.

• The infectious diseases segment accounted for the largest revenue share of the Canada mRNA therapeutics market in 2023.

The Canada mRNA therapeutics market is segmented by application into infectious diseases, oncology, rare genetic diseases, respiratory diseases, and others. Among these, the infectious diseases segment accounted for the largest revenue share of the Canada mRNA therapeutics market in 2023. The versatility and simplicity of antigen design have made it possible for mRNA vaccines to be developed against a variety of bacteria, parasites, and viruses. Successful immunization efforts have also almost eradicated polio and eliminated life-threatening diseases like smallpox. The increasing awareness about vaccination for preventing infectious diseases leads to driving the market demand.

• The hospitals & clinics segment is anticipated to register the fastest CAGR growth during the forecast period.

Based on the end-use, the Canada mRNA therapeutics market is divided into hospitals & clinics, research organizations, and others. Among these, the hospitals & clinics segment is anticipated to register the fastest CAGR growth during the forecast period. In Canada, immunization is an important part of acute and long-term healthcare institutions with clear accountability for program planning, implementation, and evaluation. The increasing number of hospital-visiting patients and the application of mRNA-based vaccines & therapeutic are driving the market in the hospitals & clinics segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada mRNA therapeutics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Sanofi SA
• Moderna Inc
• AstraZeneca PLC
• Merck & Co Inc
• GSK Canada
• Pfizer Inc
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2024, TriLink BioTechnologies (TriLink), a Maravai LifeSciences company and global provider of life science reagents and services, was granted patents by the China National Intellectual Property Administration (CNIPA) and the Canadian Intellectual Property Office (CIPO).  

• In June 2023, Providence Therapeutics Holdings Inc., a biopharmaceutical company developing messenger RNA (mRNA) vaccines and therapeutics, announced its mRNA drug discovery partnership with University Health Network (UHN), ranked first on a list of Canada's top 40 research hospitals by Research Infosource Inc.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada MRNA Therapeutics Market based on the below-mentioned segments:

Canada mRNA Therapeutics Market, By Type

• Prophylactic
• Therapeutic

Canada mRNA Therapeutics Market, By Application

• Infectious Diseases
• Oncology
• Rare Genetic Diseases
• Respiratory Diseases
• Others

Canada mRNA Therapeutics Market, By End-use

• Hospitals & Clinics
• Research Organizations
• Others