m-RNA synthesis service plays a crucial role in drug discovery processes by providing modified nucleotides and related services to researchers. It helps accelerate the drug development cycle by enabling rapid screening of potential drug targets. With growing emphasis on precision medicine, the demand for m-RNA synthesis services is increasing from biotech and pharmaceutical companies.

The global m-RNA synthesis service 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:

One of the key trends driving the growth of m-RNA synthesis service market is the rising research and development (R&D) expenditure in the pharmaceutical sector. Pharmaceutical companies are increasing their spending on R&D activities year-over-year to develop new precision drugs. As m-RNA technology allows developing targeted drugs in a cost-effective manner, more pharmaceutical giants are outsourcing m-RNA synthesis services to academic research laboratories and specialized service providers. This has boosted the demand for modified nucleotides and associated services over the last few years. Increased collaboration between biotech startups and m-RNA synthesis service players is also a major trend in this industry.

Segment Analysis

The global m-RNA synthesis service market is dominated by the contract manufacturing organization (CMO) segment. Majority of pharmaceutical and biotech companies outsource their m-RNA production requirements due to the capital-intensive nature and infrastructure requirement for m-RNA manufacturing. CMOs provide turnkey solutions and technical expertise for manufacturing scaled up and GMP-grade m-RNA, thereby saving significant cost of in-house manufacturing for end-users.

Key Takeaways

The Global M-RNA Synthesis Service Market Demand is expected to witness high growth over the forecast period. Rapid advancement in m-RNA vaccine development and adoption of contract manufacturing model is expected to drive the market expansion. The global m-RNA synthesis service 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.

Regional analysis

North America currently dominates the global market and is expected to maintain its leading position during the forecast period. Presence of majority of pharmaceutical companies and major CMOs in the US is a key factor supplementing the region's large market share. Asia Pacific is projected to witness the fastest growth over the next few years attributed to increasing research funding and growing outsourcing of m-RNA production to domestic CMOs by global drug developers.

Key players

Key players operating in the m-RNA synthesis service market are Huzhou City Linghu Xinwang Chemical Co., Ltd., Rayonier Advanced Materials, DFE Pharma, Mingtai Chemical Co., Ltd, JRS Pharma, Asahi Kasei. Majority of these players are focusing on capacity expansion through new facility additions or partnerships to meet the rising demand for m-RNA synthesis services from biopharma industry.

For more details on the report, Read- https://www.insightprobing.com/m-rna-synthesis-service-market-demand-share-analysis/

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