mRNA Sequencing Market Growth, Size, Share, Trends by 2030

The mRNA sequencing market is projected to grow from US$ 1,356.94 million in 2022 to US$ 3,662.50 million by 2030; it is estimated to record a CAGR of 13.2% during 2022–2030.

Market Insights and Analyst View:

Factors such as mRNA sequencing accelerates diagnostic rate for rare diseases and innovative product launches propel the mRNA sequencing market growth.

Growth Drivers:

mRNA Sequencing Accelerates Diagnostic Rate for Rare Diseases

The Swedish Orphan Biovitrum AB publication state statistics revealed that, currently, more than 7,000 estimated rare/orphan diseases have been identified globally. Among these, only 5% have approved medicines globally. Therefore, there is a huge burden of healthcare costs associated with the treatment of rare diseases. The healthcare cost is approx. 10 times higher than other diseases. For example, in the US, the cost of 373 rare diseases accounts for US$2.2 trillion annually. Based on estimates, the healthcare cost for all known rare diseases may be in the range of US$ 7.2–8.6 trillion annually. Thus, rare diseases associated with difficulties and delays in diagnosis, lack of treatment availability, development of new treatment, and favorable regulatory and accessibility will result in the development of innovative technologies. Illumina's "Whole-Genome Sequencing (WGS)" is one such example that improves diagnosis for rare genetic diseases. WGS offers three key advantages over other genetic testing methods, i.e.,  improvement in operational efficiency, low manufacturing, and low diagnostic cost . Also, WGS is the most comprehensive test to detect multiple variant types in a single assay, proving important for rare diseases.

Thus, the increasing demand for mRNA sequencing to identify rare diseases is contributing to the growing mRNA sequencing market size.

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mRNA Sequencing Market: Strategic Insights

Market Size Value in	US$ 1,356.94 million in 2022
Market Size Value by	US$ 3,662.50 million by 2030
Growth rate	CAGR of 13.2% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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Report Segmentation and Scope:

The “mRNA sequencing market analysis” has been carried out by considering the following segments: type, method, and end user.

Segmental Analysis:

By type, the mRNA sequencing market is bifurcated into products and services. The type segment is further classified into products and services. The consumables segment held the largest mRNA sequencing market share in 2022. The service segment is anticipated to register the highest CAGR of 13.9% for the forecast period. 

High-throughput mRNA sequencing is a standard technique for transcriptome discovery and identifying differential gene expression analysis in life science laboratories. Therefore, innovative product launches by the manufacturers will enhance consumables segment growth. PacBio's "SMRTbell prep kit 3.0 and binding kits 3.1 and 3.2" are examples of innovative consumables used for mRNA sequencing. Additionally, in October 2023, PacBio announced new product launches for the development of high-quality and accurate sequencing solutions, "Kinnex RNA kits." The Kinnex RNA kits increase throughput for full-length RNA, single-cell RNA, and 16S rRNA sequencing. These Kinnex kits are based on the “MAS-seq methods” where customers can transcript long chain libraries to short, increase throughput, and make the sequencing process more cost-effective.

mRNA Sequencing Market, by Method – 2022 and 2030

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Technological Advancements: A New Trend in mRNA Sequencing Market

With the technology influx, mRNA vaccines and therapeutics have an influential impact on meeting unmet medical needs. For example, the emerging mRNA sequencing technology will contribute to cancer research. Illumina's mRNA sequencing for cancer transcriptome is one such example that provides functional information about cancer gene expression and gene fusion that aids scientists in understanding tumor classification and progression. Therefore, cancer mRNA sequence can help scientists to:

·         Determine variants expression in cancer samples

·         Identify gene expression signatures and mutational profiles associated with the type of tumors, individual tumors, and single cells

·         Finding novel small RNA's that regulate gene expression

·         Identify gene fusions arising from chromosomal translocations

Likewise, the development of SARS-CoV-2 vaccines involves mRNA technology. Therefore, sequence confirmation is a critical activity during mRNA therapeutic and vaccine manufacturing. Therefore, Thermo Fisher Scientific "Sanger Sequencing" is one such technology used to develop mRNA vaccine. With mRNA vaccine manufacturing, accuracy is required at many stages of production where DNA and RNA intermediates are manipulated, wherein Sanger sequencing offers the key attributes. These attributes include simple workflow, short clinical time, and scalable workflow. Also, Thermo Fisher Scientific, using Sanger Sequencing technology, has developed a streamlined protocol for the sequencing of mRNA without the need for PCR amplification prior to cycle sequencing, shortening clinical result time and minimizing errors. Therefore, technological advancements in mRNA sequencing will ultimately open new avenues for the market growth.

Regional Analysis:

The scope of the report focuses on North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest mRNA sequencing market share. The market in this region is driven by the presence of key market players. In addition, extensive R&D by various pharmaceutical and biotechnology companies and academic & research institutes is expected to stimulate the North America mRNA sequencing market growth. The US is the largest contributor to the market in North America. It is mainly driven by the growing biotechnology sector, characterized by technological advancements. Furthermore, increasing R&D investments by US-based pharmaceutical and biotechnology companies to improve outcomes of clinical trials and ensure patient safety stimulate the market growth.

Industry Developments and Future Opportunities:

The mRNA sequencing market forecast can help stakeholders in this marketplace plan their growth strategies. A few strategic developments by leading players operating in the mRNA sequencing market are listed below:

·         In November 2023, Lexogen, announced the product launch of "LUTHOR High-Definition single Cell 3 mRNA-Seq Kit". LUTHOR HD can detect single gene copy within a cell, enabling researchers to get visuals of each cell's complete transcriptome, capturing 95% of expressed genes with high magnification.

·         In November 2023, PacBio, announced the expansion of "Multiplexed Arrays Sequencing (MAS-Seq) for new assays. This development is developed on the successful "MAS-Seq" concatenation technology that enables cost-effective single-cell isoform sequencing. The technology possesses key applications such as bulk RNA sequencing and 16 S rRNA, ultimately providing customers with cost-effective kit solutions and end-to-end software.

Competitive Landscape and Key Companies:

Takara Bio Inc.; Illumina, Inc.; QIAGEN; F. Hoffmann-La Roche Ltd; Quantabio; Zymo Research Corporation; baseclick GmbH; Paragon Genomics, Inc.; Yeasen Biotechnology (Shanghai) Co., Ltd.; Novogene Co, Ltd; and Norgen Biotek Corp are among the prominent companies profiled in the mRNA sequencing market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.