m-RNA Synthesis Service Market Is Estimated To Witness High Growth...

m-RNA Synthesis Service Market Is Estimated To Witness High Growth

Posted 2023-11-23 13:03:38

Market Overview:
The m-RNA synthesis service market involves contract manufacturing and process development services for messenger RNA (mRNA) by companies specialized in oligonucleotide and gene synthesis. Key services include mRNA vaccine and therapeutic design, synthesis, purification and quality testing. The market has gained significant traction due to the success of COVID-19 mRNA vaccines and growing interest in mRNA-based cancer immunotherapies and gene therapies.

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.

Market Dynamics:
The m-RNA synthesis service market is driven by growing demand for contract manufacturing of mRNA vaccines and immunotherapies. Major pharmaceutical companies are outsourcing mRNA manufacturing due to high capital investment and expertise requirements. For example, BioNTech SE outsources mRNA production for its COVID-19 vaccine to various contract manufacturers. Furthermore, increasing R&D activities for novel mRNA therapeutics in areas of genetic disorders, cardiovascular diseases and infectious diseases is expected to provide new opportunities for service providers. The significant complexity and costs associated with in-house mRNA manufacturing also promotes outsourcing to specialized service providers. However, technical challenges in mRNA synthesis such as ensuring stability and purity require continued advancements.