The global m-RNA synthesis service market has been gaining prominence in recent years due to the increasing demand for customized m-RNA in biopharmaceutical and gene therapy applications. m-RNA acts as genetic instructions that directs cells to make proteins for specific functions. m-RNA synthesis services help in production of customized m-RNA strands as per client's need for research activities and therapies. Key players in the market synthesize and deliver high purity, capped and polyadenylated m-RNA to support drug discovery and translational research programs. 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 from 2024 to 2030.
Key Takeaways
Key players: Key players operating in the Global mRNA Synthesis Service Market Demand 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.
Key opportunities: Growing applications of m-RNA in cancer immunotherapy, protein replacement therapies, and infectious disease vaccines are expected to create lucrative opportunities for service players in the market. Furthermore, increasing R&D investments by biopharma companies in m-RNA drug development will boost demand.
Global expansion: Leading players are expanding their m-RNA synthesis capacities and capabilities through partnerships and acquisitions. They are also strengthening their global footprint to cater to the growing worldwide demand, especially from Asia Pacific and Middle East regions.
Market drivers: The rising prevalence of chronic diseases and growing biopharmaceutical industry spending on drug development are the major macro drivers propelling the m-RNA synthesis service market. m-RNA based vaccines have emerged as a key tool in the fight against COVID-19 pandemic, further fueling market growth.
PEST Analysis
Political: The market has been seeing increasing government funding in research and development activities related to mRNA therapeutics which is positively influencing the market growth. The governments are also focusing on reforms to streamline the approval process for new mRNA therapeutics and services.
Economic: The rising per capita healthcare expenditure globally and increasing research & development investments by pharmaceutical and biotechnology companies are fueling the demand for mRNA synthesis services. Further, increasing prevalence of chronic diseases is another major factor boosting the market.
Social: With the increasing awareness regarding benefits of gene therapies and cell regeneration therapeutics, the acceptance of new treatment options using mRNA is increasing among patients. The social factors are positively impacting the market.
Technological: Over the years, there have been significant technological advancements in gene synthesis and RNA engineering capabilities. Development of novel techniques like synthetic mRNA platforms, advances in DNA microarray technologies are allowing researchers to design customized mRNA sequences efficiently and rapidly. This is supporting the market growth.
In terms of value, the mRNA synthesis service market in North America is currently the most concentrated geographical region, accounting for over 40% of the global market share. This can be attributed to presence of major biopharma companies and research organizations in countries like US and Canada.
The Asia Pacific region is identified as the fastest growing regional market owing to factors like rising healthcare expenditure, increasing government focus on clinical research, expanding biotech industry and presence of numerous contract research and manufacturing organizations in China, Japan and India.
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