mRNA synthesis services aid in production of mRNA for various applications like therapeutics, research, protein production etc. mRNA plays a vital role in protein synthesis by acting as an intermediate between DNA and protein production. mRNA synthesis service providers offer end-to-end services ranging from design and sequence creation to purification and delivery. They help biotech and pharma companies accelerate scientific discovery and development of novel mRNA therapeutics. The global mRNA synthesis service market is experiencing strong growth due to increasing R&D in areas like gene therapy, cell therapy and mRNA vaccines.
The global m-RNA Synthesis Service Market 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.
Market key trends:
One of the key trends in the market is growing innovation in gene therapy. Companies are investing heavily in development of novel gene therapies using mRNA. For instance, Moderna’s mRNA-1273 vaccine for COVID-19 pandemic demonstrated huge potential of mRNA technology. Several other companies are developing mRNA therapies for diseases like cancer, genetic disorders etc. This is increasing demand for specialized mRNA synthesis services. Another major trend is outsourcing of mRNA manufacturing by biotech firms to mRNA synthesis service providers. This helps them focus on drug development while experts handle complex mRNA production process.
Threat of new entrants: Low cost of entry for startups specialized in specific processes. However, high costs associated with compliance, expertise and complex infrastructure required for full-fledged service act as barriers.
Bargaining power of buyers: Moderate to high bargaining power due to availability of substitutes and competitive differentiation factors. buyers have option to choose from a diverse set of providers.
Bargaining power of suppliers: Low to moderate bargaining power due to availability of substitute raw materials and reagents. However, suppliers leverage their expertise and capabilities to some extent.
Threat of new substitutes: Threat remains moderate as new innovative technologies can disrupt existing processes. However, regulatory approvals and adoption timelines favor existing players.
Competitive rivalry: Intense competition due to capability overlap between players. Focus remains on customization, quality, turnaround times, compliance and expanding service portfolios to gain competitive edge.
The GLOBAL M-Rna Synthesis Service Market SIZE is expected to witness high growth during the forecast period. North America is expected to dominate the market owing to presence of major players and high R&D investments. The Asia Pacific region is anticipated to grow at the fastest pace attributed to increasing research activities and growing biopharmaceutical industry.
Regional analysis: North America holds the major share of the global market and is expected to grow at a moderate rate owing to maturity. Asia Pacific is anticipated to witness highest growth on account of increasing government support for life sciences research and expansion of regional and global players into emerging countries of the region.
Key players: 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. These players are focusing on portfolio expansion and collaborations to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it