Global mRNA Synthesis Raw Materials Market Report 2023: Increasing Funding For mRNA Research Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "mRNA Synthesis Raw Materials Market Size, Share & Trends Analysis Report By Type (Capping Agents, Nucleotides, Plasmid DNA), By Application, By End-user, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global mRNA synthesis raw materials market size is projected to reach USD 3.3 billion by 2030. The market is expected to expand at a CAGR of 2.1% from 2023 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.

mRNA Synthesis Raw Materials Market Report Highlights

• The capping agents segment held the largest share of 40.6% in 2022 owing to the advancements in the capping technology and their applications in the biopharma industry and research
• By application, the vaccine production segment captured the highest share of 85.30% in 2022. This can be attributed to the rapid production of mRNA vaccines compared to the conventional vaccines that use cell-culture-based production routes, which are often prone to failure
• North America held the highest revenue share of 35.5% in 2022, due to the presence of key players, the availability of an established commercial infrastructure for biotechnology and pharmaceutical companies, and high research and development investments in the region
• By end-user, the biopharmaceutical and pharmaceutical companies segment dominated the market in 2022 due to the increasing investments in the biopharmaceutical sector and the rising pipeline, which has boosted the need for mRNA synthesis raw materials

Market Dynamics

Drivers

• Growing Academic And Industrial Interest In mRNA Technology
• Advantages Of mRNA Vaccines
• Increasing Funding For mRNA Research

Restraints

• Nonexistence Of Effective Government Regulations For mRNA - Based Product Approvals
• High Cost Of mRNA Synthesis Raw Materials

Challenges

• Lack Of Long - Lasting And Affordable Manufacturing Processes

Companies Mentioned

• 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

For more information about this report visit https://www.researchandmarkets.com/r/bjm183

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