Oligonucleotide Synthesis Market is expected to grow at a CAGR of 9.1% by 2032 | insightSLICE
According to estimates, the size of the worldwide Oligonucleotide Synthesis market reached US$ 2.3 billion in 2021 and will increase at a CAGR of 9.1% through 2032.
Short nucleic acid fragments called oligonucleotides are created by genetically engineered and enzymatic biochemistry. These are mostly utilized in laboratories for pharmacological, medical, educational, and industrial purposes.
These are employed throughout the research and development process, from target validation to medication manufacture.
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Oligonucleotides can be created either professionally to serve a variety of end customers or privately using DNA synthesizers for personal consumption. Today, biological research has been fundamentally transformed by advancements in oligonucleotide synthesis, replication, and automation.
Additionally, it is possible to quickly and promptly order the necessary sequence online while performing changes. The price per base pair, margins of error, durations, capacity, etc. for these services vary significantly.
The key players of the Global Oligonucleotide Synthesis Market are:
Major companies involved in the global Oligonucleotide Synthesis market include Integrated DNA Technologies, Inc., PolyGen GmbH, GenScript Biotech Corporation, TriLink BioTechnologies, LLC, Eurofins Scientific SE, Biolegio B.V., Bioneer Corporation, LGC Biosearch Technologies, General Electric Co., Kaneka Corporation (Eurogentec), IBA GmbH, Eton Bioscience, Inc., Quintara Biosciences, Thermo Fisher Scientific, Inc., Biolytic Lab Performance Inc., TAG Copenhagen A/S, BioAutomation, and others.
Driving factors for the growth of Global Oligonucleotide Synthesis Market
The market estimates in the oligonucleotide synthesis market report cover the years 2019 to 2032. The industry for oligonucleotide synthesis is highly competitive and offers biomedical organizations significant growth potential.
The market’s expansion is primarily due to the growing use of synthetic oligonucleotides in therapeutic and diagnostic applications, rising R&D spending and government subsidies for biotechnology and pharmaceutical study, declining sequencing costs, rising public and private sector expenditure on genome sequencing, and soaring private equity assets.
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To diversify their product & business solutions and increase their position in the oligonucleotide synthesis market, the main players have acquired numerous small-scale oligonucleotide synthesis businesses in recent years.
The price of genome sequencing has significantly decreased as a result of recent breakthroughs in the field of gene sequencing. DNA sequencing is now much faster and less expensive thanks to NGS technology.
The price of sequencing a human genome has significantly fallen since 2008, when it cost around $5 million, according to data from the National Human Genome Research Institute (NHGRI), to below $1,000 in 2017.
In the realm of genomics research, sequencing is increasingly being utilized to comprehend the diversity of infertility treatment, cancer, and infectious illnesses as well as to build genomes and examine the genetic basis of human disorders.
Thus, it is anticipated that the fast-falling cost of sequencing will further encourage development, which will increase demand for oligonucleotide synthesizing equipment and solutions during the projection period.
The leading market segments of Global Oligonucleotide Synthesis Market
The oligonucleotide synthesis equipment category is anticipated to hold the biggest market share in 2019 for oligonucleotide synthesis. A higher percentage of synthesized products is indeed the result of the widespread usage of synthesizers and consumables in PCR investigations, such as PCR primers.
Due to its simplicity, fast response, and cost-effectiveness, PCR techniques are widely used in research and diagnostic domains, which is boosting the expansion of this market. According to applications, the research sector is anticipated to hold the greatest market share for oligonucleotide synthesis in 2019.
Nevertheless, due to the growing uses of molecular diagnostics (MDx) and genetic testing, the use of oligonucleotides for medical diagnostics is predicted to expand at the quickest CAGR during the projected period.
The end-user sector for diagnostic laboratories is anticipated to experience the quickest CAGR during the projected period due to the expanding use of oligonucleotides in medical diagnostics.
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Regional performance of Oligonucleotide Synthesis Market
The market for oligonucleotide synthesis is predicted to be dominated by North America in 2019 and then by Europe. Nevertheless, over the projection period, consumption from the Asia-Pacific region is anticipated to rise at the fastest CAGR.
Numerous reasons, including the expanding accessibility of synthesis oligonucleotides, the prominence of pharmaceutical and biotech firms, the increasing outsourced of research to CROs, and an expansion in R&D funding and activities, are driving the expansion of the oligonucleotides industry in the APAC region.
For different market participants in the oligonucleotide synthesis industry, industrialized nations like the United States and Europe have been the most important markets.
But low-penetration emerging markets are anticipated to experience significant growth over the next few years due to rising oligonucleotide demand and rising R&D spending, as well as increasing proteomics, genome sequencing, and biomolecular research, increasing healthcare costs, and ongoing improvements in the medical system.
Since the past several years, a number of market participants in the oligonucleotide synthesis industry have identified the Asia-Pacific region’s growing economies—including China, India, and Association of Southeast Asian Nations (ASEAN) members—as being hugely profitable.
Global Oligonucleotide Synthesis Market Key Segments:
By Product
- Oligonucleotide-based drugs
- Synthesized oligonucleotides
- Reagents
- Equipment
By Application
- Therapeutic applications
- Research applications
- Diagnostic applications
By End Use
- Hospitals
- Pharmaceutical & biotechnology companies
- Diagnostic laboratories
- CROs and CMOs
- Academic research institutes
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
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