The global oligonucleotide synthesis market size is expected to reach USD 19.64 Billion by 2028 and register a CAGR of 17.9%, according to the latest report by Reports and Data. Key factors such as advancements in healthcare and biotechnology sectors, rising government funding, and expansion of manufacturing unit owing to increasing demand for oligonucleotides are driving global market revenue growth.
Oligonucleotide synthesis is a chemical synthesis process of short nucleic acid fragments, widely used in various laboratory procedures to develop customized oligonucleotides of desired sequence. Synthetic oligonucleotides are also used in clinical settings to detect autoimmune antibodies. Advancements in synthesis techniques, increasing cases of various neurological and infectious diseases, and rising demand for oligonucleotides in various application settings such as research, drug discovery, synthetic biology, and diagnosis is boosting global market growth. Increasing government investments for research projects in genomics and synthetic biology and rising focus on personalized medicine are also fueling global market growth. In addition, increasing investments by market players and high demand for oligonucleotide synthesis technologies by private and public firms for ongoing research is further fueling market growth.
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
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Some key highlights of the report:
- The reagents & consumables segment is expected to account for significant revenue growth over the forecast period. High demand for various reagents for each step during synthesis is boosting segment revenue growth.
- Among the application segments, the therapeutic segment is expected to register highest CAGR between 2021 and 2028. High revenue growth is attributable to growing adoption of oligonucleotides as therapeutic drugs to treat various infectious and rare genetic disorders.
- The hospital segment is expected to account for robust revenue growth throughout the forecast period owing to increasing demand for oligonucleotide drugs to treat various infectious, neurological, and rare genetic diseases along with rise in the number of inpatients and outpatient visits.
- North America accounted for largest market share in terms of revenue in 2020 and is expected to continue dominating other regional markets throughout the forecast period. Factors such as high use of oligonucleotides, well-developed healthcare infrastructure, rapid advancements in genomics, & diagnostic screening, and high investments in research and development activities are fueling market revenue growth.
- Asia Pacific is expected to register fastest CAGR of 14.8% over the forecast period owing to increasing government funding for research, growing adoption of therapeutics, and rising awareness about various oligonucleotide synthesis applications.
- Agilent Technologies, Inc, ATDBio Ltd., Bio-Synthesis, Inc., BioAutomation Corporation, Thermo Fischer, Scientific, Merck KGaA, LGC Biosearch Technologies, Biogen International, Sarepta Therapeutics, Eurofins Genomics, Eurogentec, GeneDesign, Inc., GE Healthcare, and GenScript, Inc. are leading players operating in the oligonucleotide synthesis market.
Key Players covered in this report are
In 2019, IDT expanded its courier zones of free next-day delivery service to the scientists in Cambridge, Oxford, and London. This will help IDT grow its customer base.
In 2019, GenScript introduced to the market the single-stranded DNA service for the CRISPR based gene editing.
In 2018, Danaher completed the acquisition of IDT.
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Product Outlook (Revenue, USD Billion, 2018 – 2028)
- Reagents & Consumables
- Synthesized oligonucleotides
- DNA oligonucleotides
- RNA oligonucleotides
Application Outlook (Revenue, USD Billion, 2018 – 2028)
- Polymerase Chain Reaction (PCR)
- Antisense Oligonucleotides
- Nucleic Acid Aptamers
End-Use Outlook (Revenue, USD Billion, 2018 – 2028)
- Academic Research Institutes
- Diagnostic Laboratories
- Pharmaceutical and Biotechnology Companies
- CROs and CMOs
Major Points covered in this report are as below:
The Oligonucleotide Synthesis Market industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
The Oligonucleotide Synthesis Market Market report provides key statistics on the market status of the Oligonucleotide Synthesis Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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