Market Overview:
The m-RNA synthesis service market involves services that focus on customized mRNA synthesis as per customer requirements. This customizable mRNA is synthesized enzymatically from a DNA template and can be precisely designed with desired codons and regulatory sequences. mRNA synthesis services provide flexibility, quality, and speed to research and development of cutting-edge therapies and vaccines including gene therapy, protein engineering, and RNA therapeutics. These mRNA service providers offer design, optimization, synthesis, purification, and quality testing of customized sequences.
Market key trends:
One of the major trends in the m-RNA synthesis service market is the growing demand for customized mRNA sequences from pharmaceutical and biotechnology companies. Customization enables designing of mRNA sequences with desired therapeutic properties for specific disease targets. It has enabled development of precision therapies and efficient vaccines. Furthermore, continuous technological advancements have improved customization ability and lowered costs. New error correction and sequence optimization techniques coupled with automated synthesis platforms allow design and production of diverse mRNA sequences suitable for various research applications. This growing customization requirement is expected to drive significant growth of the m-RNA synthesis service market over the forecast period.
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.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the market is highly capital intensive and regulated requiring specialized manufacturing capabilities and infrastructure.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market faces demand from Pharma companies conducting clinical trials. However, the availability of substitutes acts as a counterbalance.
Bargaining power of suppliers: The bargaining power of suppliers is low as the key materials used in m-RNA synthesis such as primers, substrates and enzymes have many substitutes available.
Threat of new substitutes: The threat of substitutes is moderate as newer technologies such as DNA can be used for certain clinical trial purposes. However, m-RNA has advantages for other therapeutic areas.
Competitive rivalry: High as the market is dominated by a few global players and pricing pressure exists.
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 funding for research on RNA-based therapeutics and rising clinical trial activity.
Regional analysis: North America dominates the global market and is estimated to account for around 40% market share owing to presence of leading pharma companies and CROs conducting clinical trials in the region. Asia Pacific is anticipated to be the fastest growing region due to increasing research spending and expanding manufacturing capabilities in countries like China and India.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
