April 17, 2024
mRNA Synthesis Service Market

The m-RNA Synthesis Service Market will grow at highest pace owing to increasing R&D activities in novel drug development

The m-RNA synthesis service market involves the synthesis of messenger RNA which is used for a wide range of medical and research applications. m-RNA plays a crucial role in directing the protein synthesis process in cells. It serves as an intermediary between DNA genes and ribosomes to help synthesize proteins using genetic instructions present in DNA. The m-RNA synthesis service providers help organizations synthesize customized m-RNA for research and clinical purposes. Compared to DNA, m-RNA is more labile and not prone to the integration of its sequences into the host genome. This makes m-RNA an attractive tool for the development of vaccines and novel therapeutics. 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 2024 to 2030.

Key Takeaways

Key players operating in the m-RNA 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. Increased R&D spending on developing m-RNA based therapeutics like vaccines is boosting the demand for m-RNA synthesis services. Major players are focusing on developing advanced technologies to produce customized, potent, and scalable m-RNA.

Market trends

The pandemic has accelerated the adoption of Global mRNA Synthesis Service Market Demand and vaccine development is one of the major growth drivers. Many companies are actively involved in developing m-RNA based COVID vaccines which is propelling the market growth. Another trend is the increasing development of personalized m-RNA therapies and medicines. Researchers are exploring ways to synthesize patient-specific m-RNA sequences to develop personalized treatments.

Market Opportunities

One of the key opportunity for m-RNA synthesis service providers is to cater to the growing demand from biotech and pharmaceutical companies involved in novel drug development. With more players investing in m-RNA research, the need for outsourcing m-RNA synthesis will increase significantly. Developing single-use bioprocessing capabilities can help companies capture more demand from end-users. Entering partnerships with drug developers and medical technology firms working on m-RNA projects will also open up new prospects.

Impact of COVID-19 on m-RNA Synthesis Service Market Growth
The COVID-19 pandemic has significantly impacted the growth of the mRNA synthesis service market. In the initial months of the pandemic, when there was no vaccine available, the demand for mRNA synthesis surged massively. Several pharmaceutical companies partnered with mRNA synthesis service providers to develop mRNA-based vaccines to tackle the novel coronavirus. However, due to the lockdowns imposed worldwide, there were restrictions on movements and operations. This led to disruptions in the supply chain and logistics systems of the market players. It hampered production and service delivery capabilities. With delayed shipping and limited human resources, projects faced delays and setbacks. The manufacturers had to revamp their processes and establish new protocols to ensure safety of employees and operations. Now, as vaccination programs are underway globally, the demand continues to remain high. However, the companies have streamlined their functions to handle large volumes smoothly. In the coming years, continuous Research & Development is expected to create new opportunities for market players.

In North America, the United States holds the major share of the mRNA synthesis service market in terms of value. This is attributed to heavy investments in life sciences Research & Development by both public and private institutions in the country. Additionally, the presence of leading pharmaceutical companies engaged in drug development using mRNA technology has further augmented demand. The Asia Pacific region is poised to be the fastest growing market during the forecast period. This is driven by rising expenditure on healthcare research along with increasing set up of contract service providers in China and India. Governments are supporting local manufacturers through funding and incentives to reduce dependence on other nations. The market is also primed for strong growth in countries like Japan, South Korea, and Australia.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it