April 20, 2024
mRNA Synthesis Service Market

m-RNA Synthesis Service Market is driven by increasing adoption of mRNA-based vaccines

The m-RNA synthesis service market involves the production of mRNA strands that carry genetic codes for various therapeutics. Messenger RNA (mRNA) is used widely for manufacturing of vaccines and protein therapies. Key strategies adopted by market players include mRNA encapsulation and modifications to improve stability and delivery properties of mRNA molecules. The market is currently dominated by companies providing custom mRNA synthesis services for research and development purposes. The Global m-RNA synthesis service market is estimated to be valued at US$ 7417.27 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the m-RNA synthesis service market include Huzhou City Linghu Xinwang Chemical Co., Ltd., Rayonier Advanced Materials, DFE Pharma, Mingtai Chemical Co., Ltd, JRS Pharma, Asahi Kasei Corporation, Dupont, Avantor Inc., Sigachi Industries Pvt. Ltd, Foodchem International Corporation, Quadra Chemicals, Maple Biotech Pvt. Ltd., Anhui Sunhere Pharmaceutical Excipients Co., Ltd., Accent Microcell Pvt. Ltd., RanQ, and Chemfield Cellulose. These players are focusing on developing techniques to increase efficiency and scale of mRNA production.

The demand for Global mRNA Synthesis Service Market Demand is growing significantly owing to the increasing adoption of mRNA-based vaccines and therapies. Notable success of mRNA-based COVID-19 vaccines has accelerated research into other therapeutic areas like oncology and immunology. Several biotech and pharmaceutical companies are investing in mRNA technology development.

The market is witnessing increased globalization with key players expanding their presence across U.S., Europe, China and Asia Pacific regions. Companies are entering into strategic partnerships for technology transfers and collaborations in order to tap into growth opportunities in emerging markets.

Market drivers

The key driver for the m-RNA synthesis service market is increasing demand for customized and large-scale mRNA production. Growing R&D investment into development of novel mRNA drugs and vaccines is fueling the need for contract service providers. In addition, continuous technological advancements in mRNA engineering, such as novel delivery systems and modifications, are supporting the growth of outsourced mRNA manufacturing. The recent success of mRNA-based COVID vaccines has further accelerated the pace of innovation in this sector.

The current geopolitical situation is impacting the growth of the m-RNA Synthesis Service Market. Political instability and conflicts in various regions are disrupting supply chains and trade. This is affecting the availability of raw materials required for m-RNA synthesis. Stringent regulations and barriers on cross-border technology transfer are also restricting collaboration between research institutes and market players in different countries. The market is highly dependent on cooperation between academic labs and commercial entities for innovation.

Going forward, players in the m-RNA Synthesis Market will need to diversify their supplier networks and establish local partnerships to overcome geopolitical challenges. Adopting flexible manufacturing practices can help mitigate risks from volatile global trade dynamics. Market participants should explore opportunities in emerging hubs of scientific research to sustain momentum. Focusing on technology development alliances within politically stable regions can support new product pipelines. Continuous engagement with policymakers is important to advocate for open innovation and inclusive policy frameworks.

In terms of value, North America accounted for the largest share of over 40% in the global m-RNA Synthesis Service Market in 2024 owing to major drug development and biotech industries based in the United States. Asia Pacific excluding Japan is projected to witness the fastest growth during the forecast period with a CAGR exceeding 8%. This can be attributed to increasing investments by governments as well as multinational companies in life sciences sectors across China, India, South Korea and other Asian countries.

Europe currently represents around 30% of the total market value led by extensive R&D activities in the pharmaceutical and healthcare domains across countries like Germany, United Kingdom, France and Italy. The m-RNA Synthesis Service Market is expanding in the Middle East and Latin America supported by developing regional hubs for clinical research and manufacturing. However, economic uncertainties and infrastructure bottlenecks pose challenges to the growth prospects of these emerging markets.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it