m-RNA Synthesis Service Market is Estimated to Witness High Growth Owing to Opportunity in Vaccine Development
The m-RNA synthesis service market involves companies that offer synthesis of in vitro transcribed messenger RNA (mRNA) for research and clinical applications. mRNA vaccines and therapeutics have gained immense importance in recent years after the success of COVID-19 vaccines. mRNA technology allows for the development of vaccines and therapeutics against diverse pathogenic organisms and complex diseases in a short timeframe.
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 Opportunity
Based on the success of mRNA COVID-19 vaccines, there is massive investment and R&D taking place in development of mRNA vaccines and therapeutics for other infectious diseases and complex diseases. The opportunity lies in developing mRNA vaccines and therapies for diseases like influenza, HIV/AIDS, cancer etc. with customized mRNA synthesized by companies. As success of mRNA technology spreads, investments in mRNA vaccine/ drug development will continue to rise thereby driving demand for customized mRNA synthesis services from companies operating in this market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up an m-RNA synthesis facility requires significant capital investments and expertise. However, partnerships with established players can help lower these barriers.
Bargaining power of buyers: The bargaining power of buyers is high as the market has several options for outsourcing m-RNA synthesis needs. Buyers can negotiate on price and quality standards.
Bargaining power of suppliers: Suppliers of raw materials and equipment have moderate bargaining power given the specialized nature of inputs for m-RNA synthesis. Established relationships and long-term contracts help balance this.
Threat of new substitutes: Currently there are no cost-effective substitutes for m-RNA in gene therapy and vaccine applications.
Competitive rivalry: The market has several mid-sized players competing on technology, quality, turnaround time and pricing. Collaboration is also common to cater to industry needs.
SWOT Analysis
Strengths: Growing m-RNA therapy pipelines, increasing R&D investments of pharmaceutical companies.
Weaknesses: High capital costs, specialty expertise requirements, stringent regulatory norms.
Opportunities: Expanding into contract development and manufacturing, emerging applications in agriculture and beyond medicines.
Threats: Supply chain disruptions, pricing pressures, technological obsolescence.
Key Takeaways
The Global M-Rna Synthesis Service Market Size is expected to witness high growth. North America currently dominates the market due to presence of leading service providers and extensive government funding for pharmaceutical research. Growing incidence of chronic diseases is driving clinical research utilizing mRNA technology in the region.
Regional analysis: North America is the fastest growing regional market for m-RNA Synthesis Services. The U.S. holds the major share due to availability of state-of-the-art research infrastructure and presence of prominent players like Maravai LifeSciences and Azenta US. Significant investments by national institutes are promoting development of novel mRNA therapeutics.
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.
Get more insights on this topic:
The m-RNA synthesis service market involves companies that offer synthesis of in vitro transcribed messenger RNA (mRNA) for research and clinical applications. mRNA vaccines and therapeutics have gained immense importance in recent years after the success of COVID-19 vaccines. mRNA technology allows for the development of vaccines and therapeutics against diverse pathogenic organisms and complex diseases in a short timeframe.
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 Opportunity
Based on the success of mRNA COVID-19 vaccines, there is massive investment and R&D taking place in development of mRNA vaccines and therapeutics for other infectious diseases and complex diseases. The opportunity lies in developing mRNA vaccines and therapies for diseases like influenza, HIV/AIDS, cancer etc. with customized mRNA synthesized by companies. As success of mRNA technology spreads, investments in mRNA vaccine/ drug development will continue to rise thereby driving demand for customized mRNA synthesis services from companies operating in this market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up an m-RNA synthesis facility requires significant capital investments and expertise. However, partnerships with established players can help lower these barriers.
Bargaining power of buyers: The bargaining power of buyers is high as the market has several options for outsourcing m-RNA synthesis needs. Buyers can negotiate on price and quality standards.
Bargaining power of suppliers: Suppliers of raw materials and equipment have moderate bargaining power given the specialized nature of inputs for m-RNA synthesis. Established relationships and long-term contracts help balance this.
Threat of new substitutes: Currently there are no cost-effective substitutes for m-RNA in gene therapy and vaccine applications.
Competitive rivalry: The market has several mid-sized players competing on technology, quality, turnaround time and pricing. Collaboration is also common to cater to industry needs.
SWOT Analysis
Strengths: Growing m-RNA therapy pipelines, increasing R&D investments of pharmaceutical companies.
Weaknesses: High capital costs, specialty expertise requirements, stringent regulatory norms.
Opportunities: Expanding into contract development and manufacturing, emerging applications in agriculture and beyond medicines.
Threats: Supply chain disruptions, pricing pressures, technological obsolescence.
Key Takeaways
The Global M-Rna Synthesis Service Market Size is expected to witness high growth. North America currently dominates the market due to presence of leading service providers and extensive government funding for pharmaceutical research. Growing incidence of chronic diseases is driving clinical research utilizing mRNA technology in the region.
Regional analysis: North America is the fastest growing regional market for m-RNA Synthesis Services. The U.S. holds the major share due to availability of state-of-the-art research infrastructure and presence of prominent players like Maravai LifeSciences and Azenta US. Significant investments by national institutes are promoting development of novel mRNA therapeutics.
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.
Get more insights on this topic:
The m-RNA synthesis service market involves companies that offer synthesis of in vitro transcribed messenger RNA (mRNA) for research and clinical applications. mRNA vaccines and therapeutics have gained immense importance in recent years after the success of COVID-19 vaccines. mRNA technology allows for the development of vaccines and therapeutics against diverse pathogenic organisms and complex diseases in a short timeframe.
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 Opportunity
Based on the success of mRNA COVID-19 vaccines, there is massive investment and R&D taking place in development of mRNA vaccines and therapeutics for other infectious diseases and complex diseases. The opportunity lies in developing mRNA vaccines and therapies for diseases like influenza, HIV/AIDS, cancer etc. with customized mRNA synthesized by companies. As success of mRNA technology spreads, investments in mRNA vaccine/ drug development will continue to rise thereby driving demand for customized mRNA synthesis services from companies operating in this market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up an m-RNA synthesis facility requires significant capital investments and expertise. However, partnerships with established players can help lower these barriers.
Bargaining power of buyers: The bargaining power of buyers is high as the market has several options for outsourcing m-RNA synthesis needs. Buyers can negotiate on price and quality standards.
Bargaining power of suppliers: Suppliers of raw materials and equipment have moderate bargaining power given the specialized nature of inputs for m-RNA synthesis. Established relationships and long-term contracts help balance this.
Threat of new substitutes: Currently there are no cost-effective substitutes for m-RNA in gene therapy and vaccine applications.
Competitive rivalry: The market has several mid-sized players competing on technology, quality, turnaround time and pricing. Collaboration is also common to cater to industry needs.
SWOT Analysis
Strengths: Growing m-RNA therapy pipelines, increasing R&D investments of pharmaceutical companies.
Weaknesses: High capital costs, specialty expertise requirements, stringent regulatory norms.
Opportunities: Expanding into contract development and manufacturing, emerging applications in agriculture and beyond medicines.
Threats: Supply chain disruptions, pricing pressures, technological obsolescence.
Key Takeaways
The Global M-Rna Synthesis Service Market Size is expected to witness high growth. North America currently dominates the market due to presence of leading service providers and extensive government funding for pharmaceutical research. Growing incidence of chronic diseases is driving clinical research utilizing mRNA technology in the region.
Regional analysis: North America is the fastest growing regional market for m-RNA Synthesis Services. The U.S. holds the major share due to availability of state-of-the-art research infrastructure and presence of prominent players like Maravai LifeSciences and Azenta US. Significant investments by national institutes are promoting development of novel mRNA therapeutics.
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.
Get more insights on this topic:
https://www.zupyak.com/p/3957711/t/the-m-rna-synthesis-service-market-growth-is-accelerated-by-increased-clinical-trials
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