Global m-RNA Synthesis Service Market- Regional Analysis
Among regions, North America is expected to dominate the market over the forecast period, due to North Americas’ 39.5% market share and increasing government initiatives for advancements in mRNA vaccine technology in the region that will enhance the synthesis services for mRNA. For instance, in October 2022, government of Canada announced funding for advancements in mRNA vaccine technology at the University of British Columbia. The Honorable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced the funding of US$ 11.1 million, through PacifiCan, for the University of British Columbia (UBC) in order to undertake two new projects to enhance the delivery and efficacy of mRNA vaccines.
Europe region is expected to have a lucrative growth over the forecast period, due to European Commission approval for mRNA in the region. For instance, in November 2022, Pfizer Inc., a pharmaceutical and Biotechnology Company, in collaboration with BioNTech SE, a Germany based biotechnology company announced that the European Commission (EC) had granted a conditional marketing authorization (CMA) for COMIRNATY, an mRNA based vaccine. This approval will increase the demand for mRNA synthesis and services in Europe.
North America: U.S. and Canada
m-RNA Synthesis Service Market Report Snapshots
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