The new report by Expert Market Research titled, ‘Global Oligonucleotide Synthesis Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global oligonucleotide synthesis market, assessing the market based on its segments like product, application, end-use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 2.69 billion
- Forecast CAGR (2023-2028): 13.1%
- Forecast Market Size (2028): USD 5.63 billion
North America was a major geographic market for oligonucleotide synthesis in the past, and it is projected to remain so in the future. The market for oligonucleotide synthesis has been catalysed by the growing importance of life sciences research and development, which can be attributed to this region’s increased focus on improving the safety and quality of healthcare, the growing demand for high-quality research tools for data reproducibility, and the growing focus on developing personalised therapeutics.
In the future years, the oligonucleotide synthesis sector in the Asia Pacific is predicted to increase at a healthy rate. Some of the primary drivers supporting the expansion of the oligonucleotides synthesis business in the Asia Pacific area include the expanding availability of synthesised oligonucleotides, the strong presence of pharma and biotech enterprises, and the growing research outsourcing to CROs. The presence of improved healthcare infrastructure, increased use of oligonucleotides by regional pharmaceutical businesses, and numerous strategic alliances among the market’s main players are projected to propel the oligonucleotide synthesis industry forward in the region.
Industry Definition and Major Segments
Single-stranded DNA fragments that have been chemically synthesised into short segments are known as synthetic oligonucleotides. The approach is particularly beneficial in the lab since it allows researchers to obtain custom-made oligonucleotides of the appropriate sequence quickly and at a low cost. It can also be used for molecular diagnosis in a variety of disorders, including the identification of infectious diseases like hepatitis and SARS-COV2, as well as a cancer diagnosis.
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By product, the market can be segmented into:
- Oligonucleotides
- Breakup by type:
- Column-Based Oligos
- Array-Based Oligos
- Breakup by Nucleic Acid Type
- DNA Oligos
- RNA Oligos
- Breakup by type:
- Equipment/Synthesiser
- Reagents
- Services
- Based on type:
- Oligo Synthesis
- Based on quantity:
- 25 nmol
- 50 nmol
- 200 nmol
- 1,000 nmol
- 10,000 nmol
- Based on type:
- Purification
- Modification
Based on application, the oligonucleotide synthesis industry is segmented into:
- PCR Primers
- PCR Assays-Panels
- Sequencing
- DNA Microarrays
- Fluorescence in Situ Hybridisation (FISH)
- Antisense Oligonucleotides
- Others
On the basis of end use, the market is classified into:
- Academic Research Institutes
- Diagnostic Laboratories
- Pharmaceutical–Biotechnology Companies
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The regional markets for oligonucleotide synthesis can be divided into:
- North America
- Europe
- the Asia Pacific
- Latin America
- the Middle East and Africa
Market Trends
One of the factors driving the market’s growth is an increase in research and development spending by pharmaceutical and biotechnology companies to develop oligonucleotide products with greater therapeutic potential and fewer adverse effects. The market is likely to grow even faster as government financing for synthetic biology and genome projects grows, as well as through rigorous research. Government investments have boosted the development of new technology significantly. Increased investment and development in these sectors are projected to fuel oligonucleotide synthesis market growth. These ongoing, government-funded studies are expected to advance genomic technologies such as DNA sequencing, DNA amplification, next-generation sequencing (NGS), and gene expression.
Growing demand for high-end tailored oligonucleotides and improvements in the purification of synthetic oligonucleotides are also helping the oligonucleotide synthesis industry’s growth. In recent years, major players have been acquiring different small-scale oligonucleotide synthesis companies to widen their product and service offerings and expand their footprint in the oligonucleotide synthesis sector, which has aided market growth. Advances in enzyme failure repair technology have also reduced the occurrence of synthesis faults, which is projected to boost market expansion in the coming years.
Key Market Players
The major players in the market are Thermo Fisher Scientific Inc., Eurofins Scientific SE, Merck KGaA, Agilent Technologies, Inc., Bio-Synthesis Inc., and LGC Biosearch Technologies. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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