The mRNA synthesis service market has gained significant traction owing to increasing demand for mRNA for various applications such as vaccines and therapeutics. Messenger RNA (mRNA) provides instructions for producing proteins in human cells. The global mRNA 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.
mRNA synthesis technology allows for the rapid development of disease-targeted treatments. mRNA is considered a promising platform for developing novel vaccines and therapeutics due to its ability to program cellular machinery to transiently produce therapeutic proteins. The technology further facilitates efficient, customized and scalable synthesis of mRNA for direct therapeutic applications and screening purposes. Growing pharmaceutical R&D activities focused on mRNA drugs and vaccines are driving significant demand for custom synthesis of mRNA. Additionally, continued efforts towards the development of effective mRNA-based Covid-19 vaccines are propelling the market growth.
Key Takeaways
Key players: Key players operating in the mRNA synthesis service market are 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 capacity expansion and new service launches to consolidate their market position.
Key opportunities: The emergence of innovative applications of mRNA such as protein replacement therapy, cancer immunotherapy and mRNA printing presents lucrative growth opportunities for market players. Additionally, development of personalized mRNA medicines offers opportunities for customized synthesis services.
Global expansion: Key Global mRNA Synthesis Service Market Demand providers are strategically expanding their global footprint through acquisitions and partnerships to cater to the growing global demand for mRNA. They are also establishing manufacturing facilities in different geographies to ensure reliable services and supply across the world.
Market drivers: Rising adoption of mRNA therapeutics for various chronic diseases is a major market driver. Additionally, increasing funding for R&D activities focused on novel mRNA drugs and vaccines is positively impacting market growth. Continued clinical success of mRNA-based vaccines and ongoing efforts towards development of mRNA vaccines for other diseases will further fuel the market in the coming years.
Market restrain: High costs associated with development and production of customized mRNA remains a key challenge for wider commercialization of mRNA-based drugs. Additionally, maintaining mRNA stability during manufacturing and storage is an area of concern.
Segment Analysis:
The m-RNA synthesis service market is dominated by the clinical segment. Due to the recent Covid-19 pandemic and development of mRNA vaccines, there is a huge demand for contract manufacturing services for clinical scale production of mRNA material for vaccines and therapeutics. The clinical segment accounts for over 60% of the global market share as many pharmaceutical companies outsource their mRNA synthesis requirements to specialized service providers for clinical trials.
The research segment is the second largest sub-segment in the m-RNA synthesis service market. Rising research activities in areas of gene therapy, cancer immunotherapy and other therapeutic applications is driving demand for research grade mRNA material. Service providers help academic and industrial research organizations by undertaking mRNA synthesis on a smaller scale for research applications.
Global Analysis:
North America dominates the global m-RNA synthesis service market with the largest regional market share of 40%. Factors such as presence of major service providers, pharmaceutical companies and research institutions driving clinical research in the US and Canada have made North America the top revenue generating region. Europe is the second largest regional market supported by increasing government funding for healthcare research in countries like Germany, UK and France.
The Asia Pacific region is projected to be the fastest growing market during the forecast period from 2024 to 2030. This is mainly due to expanding pharmaceutical industry in India and China. Additionally, rising biotech and biopharma research in China, Japan and South Korea is augmenting market growth. Countries in Asia represent lucrative business opportunities for established m-RNA synthesis service providers looking to grow their geographical footprint.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
