by Market Overview:
The m-RNA synthesis service market deals in contract development and manufacturing services for different types of messenger RNA. It involves synthesis, purification and quality testing of in vitro transcribed mRNA for applications in gene therapy, protein replacement therapy, and vaccine development. Main customers include biotech and pharmaceutical companies engaged in drug discovery and clinical development of mRNA therapeutics.
Market Dynamics:
The growing R&D spending in gene therapy and drug development is a major driver for this market. According to the report published by Global Industry Analysts Inc, the global gene therapy market is projected to grow at a CAGR of over 25% during 2022-2027. Additionally, increasing investments from government organizations and private players to develop mRNA vaccines and therapeutics against emerging diseases is also boosting the demand for specialized mRNA synthesis services. However, high costs associated with manufacturing and purifying mRNA along with complexity of mRNA stabilisation techniques could hamper the market growth during the forecast period.
Segment Analysis
The m-RNA synthesis service market is dominated by the non-clinical segment which accounts for over 60% of the total market share. This segment involves research activities related to drug discovery and development of various therapeutic molecules. The non-clinical segment is growing at a faster rate compared to the clinical segment due to rising investments in pre-clinical research by biopharmaceutical companies and research institutes.
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.
PEST Analysis
Political: Regulations regarding genetic engineering and clinical trials are favorable in various regions which is encouraging research activities. However, regulations differ across countries.
Economic: Rising investments in biotechnology sector and growing demand for personalized medicines is fueling market growth. However, high costs associated may hamper widespread adoption.
Social: Increasing awareness about personalized therapy and demand for new treatment options is positively impacting the market.
Technological: Advancements in mRNA technologies, synthesis techniques and analytics tools is expanding applications and driving innovation. Development of scalable manufacturing is key.
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 demand for customized therapeutics. The market size for 2023 is US$ 6,438.6 Mn.
North America dominates the global market with over 40% share owing to presence of majority of key players and growing R&D spending on drug discovery. Asia Pacific is expected to exhibit fastest growth during the analysis period attributed to rising investments, expanding biotech industry and growing geriatric population.
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. The market is fragmented in nature with these players competing in terms of service portfolio, manufacturing capabilities, geographic reach and industry expertise.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
