The global mRNA Synthesis Raw Materials Market size is projected to reach USD 1.99 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.85% from 2024 to 2030. The major factors driving the market growth include growing academic and industrial interest in mRNA technology, the advantages of mRNA vaccines, and increasing funding for research. In addition, the increasing therapeutic applications of RNA technology are projected to offer lucrative opportunities for the mRNA synthesis raw materials market during the forecast period.
The
COVID-19 pandemic has increased the demand for mRNA synthesis raw materials for
developing an efficient vaccine to battle infectious diseases. mRNA vaccines
are a safe and efficient method for preventing COVID-19. In addition, the
advantages associated with the mRNA COVID-19 vaccines have sparked the
attention of pharmaceutical businesses in delivering vaccines swiftly across
the globe. For instance, the National Institute of Allergy and Infectious
Diseases and Moderna, Inc. mutually developed the mRNA-1273 (NIAID) in March
2020. As a result, the usage of mRNA vaccines increased significantly during
the COVID-19 pandemic.
Furthermore,
many major pharmaceutical firms have started working on mRNA-based
therapeutics, including Novartis, Alexion, AstraZeneca, Pfizer, Sanofi Pasteur,
and Shire. For instance, in January 2022, according to a development and option
agreement between Pfizer Inc. and Acuitas Therapeutics, Pfizer will have the
option to license Acuitas' LNP technology for up to 10 targets for the
development of mRNA therapeutics & vaccines. Therefore, the adoption rate
of mRNA synthesis raw materials has increased among pharma & biotech companies,
which further fuels the market growth.
Moreover,
due to the temporary nature of mRNA translation and lack of integration of the
foreign material into the cell's genome, the resulting cellular therapeutic
product has a number of benefits over the one obtained by a more conventional
approach. Some of the advantages include easier production under acceptable
manufacturing procedures, reduced cytotoxicity from on-target off-tumor
effects, and better clinical validation and regulatory treatment. Thus, such advantages
are expected to increase the demand for mRNA therapeutics and further boost market growth.
Additionally,
regarding the treatment and prevention of several diseases, mRNA-based
technologies have been proven to be incredibly promising. Tremendous advances
in technology and scientific study over the past ten years have made mRNA a
feasible therapeutic option, eliminating some of the problems with its use,
such as its brief half-life and innate immunogenicity. For instance, as mRNA
technology advances, its fusion with new adoptive immunotherapies may result in
safer and more efficient methods, such as the creation of cutting-edge chimeric
antigen receptor T-cells. Therefore, advancements in mRNA technology are
projected to open new avenues for market growth.
However,
the high cost of raw materials may impede the market during the study period.
For instance, the purchase price of raw materials, such as CleanCap AG,
accounts for around 45% of the total raw material costs incurred while
producing both vaccines. In addition, the regulatory framework pertaining to
approval processes has always been the most critical restraining factor in the
biotechnology, pharmaceutical, and medical technology industry. The absence of
effective regulatory framework/guidelines for the therapeutic sector in
developing countries such as China and India, where the mRNA synthesis raw
materials market holds great growth potential due to the presence of a large
patient base, is anticipated to impede the market growth in the coming years.
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Materials Market Report
mRNA
Synthesis Raw Materials Market Report Highlights
- The capping
agents segment held the largest share of 39.17% in 2023 owing to the
advancements in the capping technology and their applications in the
biopharma industry and research
- By
application, The vaccine production segment dominated the global industry
with the largest revenue share in 2023. This can be attributed to the
rapid production of mRNA vaccines compared to the conventional vaccines
that utilize cell-culture-based production paths, which are often prone to
failure.
- North America
dominated the global industry in 2023 and accounted for the largest share
of more than 36.77% of the overall revenue in 2023, and is expected to
grow at the highest CAGR over the forecast period.
- The
biopharmaceutical and pharmaceutical companies segment dominated the
market with the highest revenue share in 2023, due to the high commercial
success of biopharmaceuticals and rapid growth in demand for therapeutics.
List
of Key Players of mRNA Synthesis Raw Materials Market
- F.
Hoffmann-La Roche Ltd.
- Jena
Bioscience GmbH
- Merck KGaA
- Yeasen
Biotechnology (Shanghai) Co., Ltd.
- BOC Sciences
- Thermo Fisher
Scientific, Inc.
- Maravai
LifeSciences
- New England
Biolabs
- Creative
Biogene
- HONGENE.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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