by Market Overview:
m-RNA Synthesis Service involves production and custom synthesis of messenger RNA (mRNA) for research, therapeutic and industrial applications. mRNA plays a vital role in protein synthesis as it transfers information from DNA to the ribosome, facilitating translation of genetic code into proteins by cells.
Market key trends:
One of the major trends driving the growth of m-RNA Synthesis Service Market is the increasing development and production of novel mRNA therapeutics and vaccines especially for cancer immunotherapy and infectious diseases like COVID-19. Several biotech and pharmaceutical companies are actively investing in mRNA research to exploit its potential in the treatment of various medical conditions. For instance, mRNA-based COVID-19 vaccines developed by Moderna and Pfizer have been hugely successful commercially.
The m-RNA synthesis service market is seeing increased demand due to the development and success of COVID-19 mRNA vaccines from Pfizer and Moderna. This has validated mRNA technology and encouraged further research and development in areas such as cancer vaccines. The effectiveness of mRNA therapy is also driving medical research into other disease applications of mRNA such as influenza, cardiovascular diseases and genetic disorders. Companies are investing more in custom mRNA design and delivery solutions to realize the full potential of personalized medicine.
SWOT Analysis
Strengths: mRNA offers better programmability and flexibility compared to DNA for biomedical applications. Successful COVID-19 vaccines have validated this technology.
Weaknesses: Challenges remain in optimizing mRNA design, delivery methods and ensuring stability. More research is needed to fully understand mRNA pharmacokinetics in humans.
Opportunities: Growing R&D spending on mRNA therapies for cancer, rare diseases, metabolic disorders provide commercial opportunities. Demand is expected to increase for personalized medicine and vaccine research.
Threats: Intense competition from existing and new market players. Regulatory delays or failures in clinical trials could affect market growth.
The global m-RNA Synthesis Service Market Growth 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.
Key Takeaways
The global m-RNA synthesis service market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing R&D investment in mRNA therapeutics, vaccines and tissue engineering applications.
Regional analysis
North America dominates the global m-RNA synthesis service market currently owing to presence of major companies and research institutions involved in mRNA research. Increased government and private funding for pharmaceutical and biotechnology research in the US and Canada is driving market growth. Asia Pacific is expected to exhibit highest growth during the forecast period with China and India emerging as focus areas for outsourcing mRNA synthesis and manufacturing.
Key players operating in the m-RNA synthesis service market include 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.
*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.
