Global m-RNA Synthesis Service Market, By Application (Therapeutic Development, Vaccine Production, Drug Discovery, and Others), By Scale of Operation (Research and Commercial), By End User (Biopharmaceutical Companies, Contract research organizations (CROs), and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,438.6 Million in 2023 and is expected to exhibit a CAGR of 5.57% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing number of government initiatives for m-RNA vaccine manufacturing is expected to drive market growth over the forecast period. For instance, in July 2020, The Department of Biotechnology-Biotechnology Industry Research Assistance Council (DBT-BIRAC), a branch of India's Ministry of Science and Technology, announced the sponsorship for the construction of India's 'first-of-its-kind' mRNA-based vaccine manufacturing platform. DBT has granted a seed financing for the development of Gennova's innovative self-amplifying mRNA-based vaccination candidate for COVID19. Gennova is a India based Pharmaceutical company.
Global m-RNA Synthesis Service Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019," or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
However, the COVID-19 had positive impact on global m-RNA synthesis service market, owing to increasing investments for research and development of mRNA vaccine. For instance, in June 2021, Sanofi, a France-based multinational pharmaceutical and healthcare company, announced that the company will to around 400 million euros (US$ 476.4 million) in research and development of next-generation vaccines using mRNA technologies that proved its efficiency in the Pfizer and Moderna COVID-19 vaccines that is used for prevention of COVID-19. Since then, Sanofi has committed to assist Pfizer and Moderna in the manufacturing of COVID-19 shots and caters to increasing demand for U.S. drug maker’s doses.
Global m-RNA Synthesis Service Market: Key Developments
In June 2022, Evonik Industries AG, a specialty chemicals company, invested US$ 220 million in partnership with the U.S. Government to build a new lipid production facility for mRNA-based therapies in the U.S.
For instance, in August 2021, Moderna, Inc., a biotechnology company that has pioneered messenger RNA (mRNA) medicines and vaccines, signed a Memorandum of Understanding (MoU) with the government of Canada to build a state-of-the-art messenger RNA (mRNA) vaccine manufacturing facility in Canada that will include an access to Moderna's mRNA development engine. The objectives of this MoU are to help people in Canada to have direct access to quick pandemic response capabilities and to make Moderna's respiratory virus vaccines available to people in Canada.
In July 2021, Codex DNA, Inc., a company specialized in automated benchtop synthetic biology systems, signed licensing and supply agreement with TriLink Biotechnologies, a subsidiary of Maravai LifeSciences, for its CleanCap technology. This agreement will increase the productivity and yields for mRNA synthesis workflows, for a broader range of downstream vaccine and therapeutic applications.
Browse 35 Market Data Tables and 30 Figures spread through 177 Pages and in-depth TOC on “Global m-RNA Synthesis Service Market”- Forecast to 2030, By Application (Therapeutic Development, Vaccine Production, Drug Discovery, and Others), By Scale of Operation (Research and Commercial), By End User (Biopharmaceutical Companies, Contract research organizations (CROs), and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/mrna-synthesis-service-market-5537
Key Takeaways of the Global m-RNA Synthesis Service Market:
- TGlobal m-RNA Synthesis Service Market is expected to exhibit a CAGR of 5.57% during the forecast period. Increasing product launches of m-RNA solutions by key players in the market is expected to drive the segment growth over the forecast period. For instance, in January 2022, Curia Global, Inc., a contract research and manufacturing organization, unveiled its messenger RNA (mRNA) solution that included discovery, process development, and mRNA drug substance production through large-scale lipid manufacturing, lipid nanoparticle (LNP) formulation, and development for full-scale sterile fill-finish services.
- Among Application, Vaccine Production segment is estimated to hold a dominant position in the global m-RNA synthesis service market over the forecast period, owing to the key players in the market are involved in inorganic strategies such as partnerships to expand their product portfolio. For instance, on August 01, 2022, GreenLight Biosciences, a biotechnology company, in a partnership with Samsung Biologics, global CDMO providing fully integrated end-to-end contract development and manufacturing services, announced the successful completion of the first commercial-scale engineering run for the companies' mRNA production partnership.
- Among region, North America is expected to be the most dominant region in the global m-RNA synthesis Service Market, owing to key players in the market are adopting strategies such as collaborations to expand their product portfolio. For instance, in July 2020, Pfizer Inc., a U.S.-based pharmaceutical and Biotechnology Company, in collaboration with BioNTech US, a biotechnology company, announced that both companies had signed an agreement with the U.S. Department of Health and Human Services and the Department of Defense to deliver up to 600 Million doses of mRNA-based vaccine candidate against SARS-CoV-2. This collaboration will enhance the development portfolio of mRNA synthesis service in the region.
- Major players operating in the global m-RNA synthesis service market includes 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
