by The m-RNA synthesis service market offers a range of products like DNA templates that are essential for synthesizing messenger RNA (mRNA) with customized sequence suitable for research, diagnostic, and therapeutic applications. mRNA offers advantages like controlled expression of selected proteins, easy production compared to viral vectors, and enabling localized and transient expression of therapeutic proteins.
The global m-RNA synthesis service Market is estimated to be valued at US$ 6,438.6 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing research activities in mRNA therapeutics: The COVID-19 pandemic highlighted the potential of mRNA vaccines and therapeutics. This has immensely boosted research activities worldwide in developing various mRNA therapies for cardiovascular diseases, cancer, genetic disorders, and infectious diseases. For the development of customized mRNA sequences needed in such research, the demand for reliable m-RNA synthesis services from market players is increasing significantly. Companies are launching new mRNA libraries, DNA templates, and other products to provide tools for mRNA research and therapeutics development to pharmaceutical and biotech companies. This increasing focus on mRNA research will be a major driver of growth of the global m-RNA synthesis service market during the forecast period.
SWOT Analysis
Strength: The m-RNA Synthesis Service Market has high growth potential due to rising investments by pharmaceutical companies in development of mRNA based therapeutics and vaccines.
Weakness: High costs associated with custom synthesis of mRNA constructs limits the adoption of mRNA therapies currently.
Opportunity: Growing need for personalized medicine is opening up new growth avenues as mRNA therapeutics allow for designing patient-specific treatments. Increased funding towards mRNA research also presents new opportunities.
Threats: Technological challenges in mRNA stability and delivery remain key roadblocks in commercialization of various applications. Intense competition from other drug delivery technologies can also threaten the market.
Key Takeaways
The Global M-RNA Synthesis Service Market Size is expected to witness high growth over the forecast period driven by increasing R&D in mRNA therapeutics.Regional analysis: North America dominates currently due to presence of major players and high healthcare investments. Growing mRNA research spending is driving the market in the US and Canada. Europe and Asia Pacific are also lucrative markets with presence of emerging players focusing on innovations.
Key players: Key players operating in the m-RNA Synthesis Service market are Maravai LifeSciences, Azenta US, Inc., Creative Biolabs, Becton, Dickinson And Company, Creative Biogene, Kaneka Corporation, Danaher, eTheRNA, Biomay AG, ApexBio Technology, RiboPro, F. Hoffmann-La Roche Ltd, System Biosciences, LLC., Aurigene Pharmaceutical Services Ltd., OZ Biosciences, Aldevron and GenScript. These players are focusing on partnerships and new product launches to gain shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
