Oligonucleotide synthesis is the chemical synthesis of relatively short fragments of nucleic acids with defined chemical structure (sequence). The technique is extremely useful in current laboratory practice because it provides a rapid and inexpensive access to custom-made oligonucleotides of the desired sequence.
What the Market Looks Like?
The global oligonucleotide synthesis market is projected to reach USD 8.2 billion by 2024 from USD 4.3 billion in 2019, at a CAGR of 13.7% during the forecast period. North America was the largest regional market for oligonucleotide synthesis in 2018
On the basis of products and services, the Oligonucleotide Synthesis Market is segmented into synthesized oligonucleotides, reagents, and equipment.
On the basis of application, the Oligonucleotide Synthesis Market is further segmented into research, diagnostic and therapeutic.
On the basis of end-user, the Oligonucleotide Synthesis Market is categorized into academic research institutes, diagnostic laboratories, pharmaceutical and biotechnology companies, and other end users (private research institutes and hospitals). In 2016, the academic research institutes segment is expected to be the major end-user segment in the Oligonucleotide Synthesis Market.
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What Drives the Market?
The growth of the global market for Oligonucleotide synthesis is primarily influenced by the following factors:
· Increasing Use of Synthesized Oligos in Molecular Diagnostics and Clinical Applications
· Increasing Government Investments and R&D Expenditure in Pharmaceutical and Biotechnology Companies
· Rise in Venture Capital Investments
Geographical growth scenario of Oligonucleotide Synthesis Market
The global oligonucleotide synthesis industry is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America was the largest market for share, followed by Europe. Moreover, North America is estimated to register the highest CAGR during the forecast period primarily due to the increasing R&D activities and the growing number of oligonucleotide-based drugs/therapies being approved by the FDA.
Leading market players and strategies adopted
The prominent players operating in this market include Agilent Technologies, Inc. (US), ATDBio Ltd. (UK), Bio-Synthesis, Inc. (US), BioAutomation Corporation (US), LGC Biosearch Technologies (US), Biogen International (US), Sarepta Therapeutics (US), EurofinsGenomics (Germany), Eurogentec (Belgium), GeneDesign, Inc. (Japan), GE Healthcare (US), GenScript, Inc. (US), Integrated DNA Technologies (IDT, US), Nitto Denko Avecia, Inc. (US), Sarepta Therapeutics (US), Thermo Fisher Scientific, Inc. (US), TriLink BioTechnologies (US), and Sigma-Aldrich Corporation (US) (a part of Merck KGAA).
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