Jersey City, NJ, Jan. 29, 2024 (GLOBE NEWSWIRE) -- “Global mRNA Synthesis Raw Materials Market” in terms of revenue was estimated to be worth $3.47 billion in 2023 and is poised to reach $14.91 billion by 2031, growing at a CAGR of 20.48% from 2024 to 2031 according to a new report by InsightAce Analytic.
Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global mRNA synthesis raw materials Market are:
- Growing the Pharmaceutical Sector
- Better service quality and efficiency
- Increasing fresh ideas developed by pharma firms
The following are the primary obstacles to the global mRNA synthesis raw materials market 's expansion:
- long-lasting process
- Problems with Costs
- Strict regulation
Future expansion opportunities for the global mRNA synthesis raw materials market include:
- Increasing awareness about health
- Improved healthcare technology
- Increasing personalization of services
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Market Analysis:
Main factor propelling the RNA synthesis raw material market is the introduction of high-quality new products by prominent pharmaceutical companies. The search for gene therapies has intensified due to the increasing prevalence of cancer and chronic diseases.
List of Prominent Players in the Global mRNA Synthesis Raw Materials Market:
- F. Hoffmann-La Roche Ltd.
- Jena Bioscience GmbH
- Merck KGaA
- Yeasen Biotechnology (Shanghai) Co., Ltd.
- BOC Sciences
- Thermo Fisher Scientific, Inc.
- Maravai LifeSciences
- New England Biolabs
- Creative Biogene
- HONGENE
mRNA Synthesis Raw Materials Market Report Scope
| Report Attribute | Specifications |
| Market size value in 2023 | USD 3.47 Bn |
| Revenue forecast in 2031 | USD 14.91 Bn |
| Growth rate CAGR | CAGR of 20.48% from 2024 to 2031 |
| Quantitative units | Representation of revenue in US$ Bn, and CAGR from 2024 to 2031 |
| Historic Year | 2019 to 2023 |
| Forecast Year | 2024-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments covered | By Type, Application, End-user |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Recent Developments:
- In January 2024, Merck and Inspirna, Inc. (New York, NY) joined forces to utilize ompenaclid (RGX-202), an oral inhibitor of the creatine transport channel SLC6A8, together with future drugs created by Merck that target SLC6A8. For advanced mCRC caused by RAS mutations (RASmut), ompenaclid is being investigated in a current Phase II trial as a potential second-line therapy.
- In June 2023, Roche announced that it had entered into a definitive agreement to buy certain assets from the LumiraDx group connected to LumiraDx's groundbreaking Point of Care technology. The acquisition will be subject to certain conditions. Roche Diagnostics will completely integrate the acquired firms after the transaction closes.
- In January 2024, Thermo Fisher Scientific's arrays, the recently released AxiomTM PangenomiX Array, stands out for its extensiveness and ethnic diversity. It offers perfect genetic coverage for studies of disease or pharmacogenomics at the population level.
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Global mRNA Synthesis Raw Materials Market Dynamics:
Market Drivers: Better service quality and efficiency
The need for high-quality raw materials for efficient mRNA synthesis is driven by the relentless pursuit of better quality and more effective items by the main market competitors. The necessity of early detection and treatment of chronic diseases is becoming more acknowledged by the general population and healthcare providers, which is driving demand in the market. Producing pharma items, such as vaccines, medications, and other health-related products is necessary. Boosting the supply of raw materials is another factor driving the market, as key rivals form alliances, acquire each other, and form partnerships. Various factors contribute to expanding the pharmaceutical market, including innovative products, enhanced service quality and effectiveness, increased facility customization, and advancements in medical technology.
Challenges: Problems with Costs
Raw materials for mRNA synthesis are limited in their potential for expansion due to the absence of flexible, durable, and cost-effective production methods. The high price of raw materials is the main obstacle to expansion. More public knowledge is also a limitation on the market's growth. In addition, the approval procedure regulatory framework has also long been the biotech, pharmaceutical, and medical tech industry's biggest bottleneck. Market expansion in developing nations, where a big patient base and the mRNA synthesis raw materials market have significant potential, is expected to be hindered in the coming years by the lack of an appropriate regulatory framework and rules for the therapeutic sector.
North America is Expected to Grow with the Highest CAGR During the Forecast Period
The North America Global mRNA Synthesis Raw Materials Market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is because of the rapid adoption of innovative technology, an upsurge in the frequency of contagious diseases, and higher investments in R&D. The COVID-19 pandemic has had a favorable impact on the North American market, leading to an increase in clinical trials, new research funding opportunities, and the expansion of federal programs aimed at RNA-based therapeutics in the region.
Segmentation of Global mRNA Synthesis Raw Materials Market-
By Type-
- Capping Enzymes
- DNA template
- Nucleotides
- Polymerase
By Application-
- Therapeutics Production
- Vaccine Production
- Drug Discovery
By End-user-
- Biopharmaceutical & Pharmaceutical Companies
- CROs & CMOs
- Academic & Research Institutions
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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InsighAce Analytic is a specializing in market research and consulting services that helps in building business strategies. Our mission is to provide high quality insights with using data analytics techniques and visualization tools that drives the disruption and innovation in market research industry. Our expertise is in providing syndicated and custom market intelligence reports with in-depth analysis and key market insights in a timely and cost-effective manner.
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