mRNA Synthesis & Manufacturing Market

The report "mRNA Synthesis & Manufacturing Market by Product (Consumables [Transcription, Purification, Analysis & Characterization], Instrument), Service (Synthesis, Purification, Manufacturing & Scale-up), Application (CGT, Vaccines) - Global Forecast to 2029", is projected to reach USD 2,958.3 million by 2029 from an estimated USD 2,231.4 million in 2024, at a CAGR of 5.8% during the forecast period.

Browse 474 market data Tables and 60 Figures spread through 343 Pages and in-depth TOC on "mRNA Synthesis & Manufacturing Market by Product (Consumables [Transcription, Purification, Analysis & Characterization], Instrument), Service (Synthesis, Purification, Manufacturing & Scale-up), Application (CGT, Vaccines) - Global Forecast to 2029"
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The major factors contributing to the growth of the global mRNA synthesis & manufacturing market include a growing focus on the development of mRNA-based vaccines, expanded applications of mRNA technologies in cancer immunotherapies, advancement in mRNA synthesis technology, increased outsourcing for mRNA synthesis and modification, and collaboration among industry players to develop mRNA therapeutics. However, the high cost of production and strict regulations for mRNA product approvals is expected to hinder market growth. There is an increase in mRNA vaccine development for infectious diseases, cancer, and rare genetic disorders post the success of mRNA vaccines during the COVID-19 pandemic. This has created a robust market demand for mRNA synthesis technologies.

The consumables segment accounted for the largest share of the segment in the mRNA synthesis & manufacturing products market in 2023.

Based on the product type, the mRNA synthesis & manufacturing market is segmented into two categories, namely, consumables, and instruments. The consumables segment covers a broad range of products such as reagents, kits, assays, enzymes, and other consumables used for transcription, purification, and analysis and characterization during mRNA synthesis & manufacturing. The consumable segment dominated the market in 2023 with the largest share owing to the continuous demand for nucleotides, enzymes (such as RNA polymerase and reverse transcriptase), buffers, and reagents and their frequent purchase as compared to a one-time purchase of instruments.

The pharmaceutical and biotechnology segment is estimated to register the highest growth rate during the forecast period in the mRNA synthesis & manufacturing market.

Based on end users, the mRNA synthesis & manufacturing market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and CROs & CDMOs. The pharmaceutical & biotechnology companies segment is estimated to register the largest share and grow at the highest CAGR during the forecast period. The increasing investments and strategic focus on mRNA therapeutics development, increase in demand for cell and gene therapy, and rising clinical pipeline of mRNA therapeutics are anticipated to promote the growth of this segment in the coming years.

Asia Pacific is estimated to register the highest growth rate during the forecast period in the mRNA synthesis & manufacturing market

Based on the region, the mRNA synthesis & manufacturing market is segmented into six major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is anticipated to register the fastest growth in the mRNA synthesis & manufacturing market owing to the rising healthcare expenditure, growing expansions in key markets such as  China, Japan, India,   increasing prevalence of cancer, significant investments by biopharmaceutical companies, growing funding for R&D. India and China are expected to be the key growth hotspots in the Asia Pacific market due to cost efficiency and favorable regulatory environment.

The report profiles key players in the mRNA synthesis & manufacturing market such as Thermo Fisher Scientific Inc. (US); Merck KGaA (Germany); Danaher Corporation (US); TriLink BioTechnologies (US); Genscript (US); Takara Bio Inc. (Japan); Lonza (Switzerland); WuXi Biologics (Cayman) Inc. (China).

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