by m-RNA Synthesis Services enables scientists to generate custom m-RNA molecules for various applications in research, drug discovery and therapeutic development. The demand for m-RNA based therapies and vaccines is growing owing to its safer gene delivery mechanism without the risks of permanent gene modifications. m-RNA acts as instructions for protein production inside cells and has emerged as a promising platform for developing DNA-based therapeutics like gene therapies, cancer vaccines.
The global m-RNA Synthesis Market is estimated to be valued at US$ 6438.6 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for DNA-based therapies like personalized cancer vaccines is a major driver propelling the growth of m-RNA synthesis market. As m-RNA offers a safe and non-integrating approach for therapeutic development, its application in developing targeted and personalized therapies has increased manifolds. Recent advancements have enabled synthesis of m-RNA molecules for specific disease conditions with reduced risk of adverse effects. This is expected to support the development of more m-RNA based drugs in future, accelerating the growth of m-RNA synthesis market during the forecast period.
SWOT Analysis
Strength: m-RNA Synthesis Service market has strong growth potential due to increasing demand for mRNA based therapies and vaccines. The market is also driven by increasing prevalence of infectious and lifestyle diseases.
Weakness: High R&D costs associated with the development of mRNA therapies. Regulatory approval process is long and stringent.
Opportunity: Significant opportunities in developing customized mRNA therapies for cancer and rare diseases. Growing geriatric population and rising healthcare expenditure in emerging economies offer growth prospects.
Threats: Safety issues related to mRNA therapies. Dominance of few players increases threat from new entrants. Stringent regulations can delay market approvals.
Key Takeaways
The Global M-RNA Synthesis Service Market Demand is expected to witness high growth. The market size for the m-RNA Synthesis Service is estimated to reach US$ 6438.6 Mn by 2024, growing at an anticipated CAGR of 6.7% during the forecast period of 2023 to 2030.
Regional analysis – North America currently dominates the market and is expected to continue its dominance during the forecast period. This is attributed to presence of key players and growing R&D expenditure in the United States and Canada. Asia Pacific is projected to witness fastest growth due to increasing healthcare expenditure, rising geriatric population, and growing penetration of key market players in regions like China and India.
Key players – Key players operating in the m-RNA Synthesis Service include Huzhou City Linghu Xinwang Chemical Co., Ltd., Rayonier Advanced Materials, DFE Pharma, Mingtai Chemical Co., Ltd, JRS Pharma, and Asahi Kasei. These players are focusing on collaborations and strategic acquisitions to strengthen their geographical footprint. For instance, DFE Pharma provides customized mRNA manufacturing solutions to various biopharmaceutical companies globally.
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Source: Coherent Market Insights, Public sources, Desk research
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