Synthetic mRNA Market for Cancer Treatment size to grow at a CAGR of 13.4% by 2029: Growth opportunities led by BioNTech SE, Moderna Inc., CureVac AG, eTheRNA immunotherapies NV - Brandessence Market Research

LONDON, March 29, 2023 /PRNewswire/ -- The Global Synthetic mRNA Market for Cancer Treatment is expected to witness a significant CAGR of 13.4% over the assessment timeline of 2022-2029.

Synthetic mRNA refers to an artificial genetic material which is created using various chemical processes inside the laboratory. It is equipped with the ability to imitate natural mRNA which is usually produced by human cell. Synthetic mRNA aids in the protein-making machinery by carrying genetic information from DNA into an individual's cells. In cancer treatment, synthetic mRNA can be used to stimulate the immune system to attack cancer cells. This is done by creating a vaccine using the patient's own cancer cells, which are then modified to produce specific proteins called antigens. These antigens are then used to make synthetic mRNA, which is injected into the patient's body. The synthetic mRNA instructs the patient's immune system to recognize and attack the cancer cells that produce these antigens.

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Global Synthetic mRNA Market for Cancer Treatment Market Outlook (2022-2029)

The growing prevalence of cancer, increased demand for personalized therapeutics, and rising healthcare expenditure are primarily augmenting the outlook of this business vertical.

Furthermore, rising R&D activities in the field, surge in the elderly population base, along with prompt technological advancements are creating lucrative opportunities for this industry sphere to prosper.

Alongside, rapidly developing healthcare infrastructure across numerous nations, growing cancer awareness, and increasing medical expenditure are adding momentum to the progression of this marketplace.

Moreover, favorable regulatory environment and expedited approval processes for mRNA-based cancer treatments together with the strong potential for synthetic mRNA to be used in combination with other cancer treatments, such as immune checkpoint inhibitors are aiding market expansion.

Additionally, growing investment and partnerships from public and private sources are paving profitable development prospects for the Global Synthetic mRNA Market for Cancer Treatment.

On the contrary, manufacturing complexities pertaining to synthetic mRNA are hindering the remuneration scope of this marketplace.    

Competitive Hierarchy

The prominent players defining the competitive landscape of Global Synthetic mRNA Market for Cancer Treatment are BioNTech SE, Moderna Inc., CureVac AG, eTheRNA immunotherapies NV, Argos Therapeutics Inc., Ethris GmbH, GenScript Biotech Corporation, Kernal Biologics AG, TriLink BioTechnologies, and AstraZeneca PLC.

Segmental Outlook

By Application:

• Mucinous Carcinomas
• Adeno Carcinomas
• Adenosquamous Carcinomas

By End User:

• Ambulatory Surgical Centers
• Hospitals & Clinics
• Research Institutes
• Others

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Region-Wise Outlook

North America is one of the most rapidly evolving regions in this industry owing to the rising pervasiveness of cancer, growing awareness about the benefits of synthetic mRNA, and presence of prime players.

Asia Pacific is reckoned to lead the marketplace in terms of revenue share. This is ascribed to the escalating demand for personalized cancer therapeutics, surge in the geriatric population base, and technological advancements in the field.

Category-Wise Insights

The research institutes segment has emerged as one of the fastest growing end user segments in this market. Research institutes typically have the resources and expertise to conduct preclinical and clinical trials, which are necessary for the development and approval of new therapies. Additionally, these institutes often have collaborations with pharmaceutical companies and other stakeholders in the healthcare industry, which can facilitate the translation of research findings into clinical practice.

Comparing the historical outlook and ongoing trends of this market

This business sphere has been garnering significant momentum to the progression of this industry due to the emergence of numerous growth stimulants.

Widespread advancements in the mRNA technology is acting as one of the prominent growth propellants for this market. The development of more efficient mRNA delivery systems, such as lipid nanoparticles, has made it possible to target cancer cells with greater specificity and efficacy. Additionally, improvements in manufacturing processes have allowed for the production of mRNA at a larger scale and lower cost, making it more accessible to patients.

There has been an escalating demand for personalized cancer treatment across the globe. As cancer is a complex and heterogeneous disease, there is a growing need for personalized treatment options that can address the unique genetic and molecular characteristics of individual tumors. Synthetic mRNA has the potential to be customized to produce specific proteins or antigens that can trigger an immune response against cancer cells, making it an attractive option for personalized cancer therapies. These factors together are stimulating the overall dynamics of this industry sphere.

Apart from that, the synthetic mRNA market has attracted significant investment from both public and private sources, including venture capital firms, pharmaceutical companies, and government agencies. This has led to a proliferation of partnerships and collaborations aimed at developing new mRNA-based cancer therapies and accelerating their commercialization.

On Special Requirement Synthetic mRNA Market for Cancer Treatment Market Report is also available for below region:

• U.S, Canada

• Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

• South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

• Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

• Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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Major Developments

In May 2021, Boehringer Ingelheim acquired Northern Biologics, a biotechnology company developing cancer immunotherapies based on synthetic mRNA. Northern Biologics' lead program is a synthetic mRNA-based immuno-oncology treatment for solid tumors, and the acquisition is expected to complement Boehringer Ingelheim's existing oncology portfolio.

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