70 CHEMICALS KNOWLEDGE HUB Issue 2 / October 2025 LIFE SCIENCES The mRNA synthesis & manufacturing market is projected to reach USD 2,958.3 million by 2029 from USD 2,231.4 million in 2023, at a CAGR of 5.8% during the forecast period. Growth in the mRNA synthesis & manufacturing market is mainly driven by the rise in clinical trials for mRNA vaccines, continuous improvements in design, delivery systems, and manufacturing processes, and increased outsourcing of mRNA synthesis and production. However, high production costs and stringent regulations are the major factors expected to restrain the growth of this market to a certain extent. The mRNA synthesis & manufacturing market has grown significantly in recent years, owing to the success of mRNA-based COVID-19 vaccines produced by Pfizer Inc. (US), BioNTech SE (Germany), and Moderna, Inc. (Germany). The rapid development and higher efficiency of these vaccinations revealed the ability of mRNA technology to respond quickly to pandemics and established it as a promising platform for future vaccine developments. As of December 2023, more than 13 billion doses of mRNA vaccines have been administered worldwide (Source: WHO), indicating the scalability of mRNA technology. This accomplishment has initiated attention toward developing mRNA-based vaccines for other infectious diseases such as influenza, Zika, and HIV, resulting in strong market demand for mRNA synthesis technology. Besides infectious diseases, mRNA technology is being explored to treat cancer and rare genetic disorders. There has been a significant increase in clinical trials involving mRNA therapies. As of 2024, over 250 clinical trials were registered for mRNAbased therapies, covering a wide range of diseases from cancer to infectious diseases. As of 2023, the clinical trials database shows that ~70% of all ongoing mRNA vaccine clinical trials are focused on infectious diseases, followed by oncology (~12%). In March 2023, BioNTech advanced its mRNA-based cancer vaccine, BNT111, into Phase 3 clinical trials targeting melanoma, a form of skin cancer. This vaccine is designed to stimulate an immune response against tumor-associated antigens. Additionally, the personalized cancer vaccine, mRNA-4157, developed by Moderna, Inc. (Germany) in collaboration with Merck KGaA (Germany), has been in clinical trials since 2022 and continues to show promising results in early-phase studies, aiming to offer tailored treatment based on individual tumor mutations. Below is the indicative list of mRNA vaccines for various diseases in the development phase. Advancements in mRNA technology have been one of the most significant drivers of growth in the mRNA synthesis & manufacturing market. Continuous improvements in mRNA design, delivery systems, and manufacturing processes have expanded the potential of mRNA-based
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