The Oligonucleotides Market is expected to be valued at USD 9.91 Billion by 2027 from USD 3.98 Billion in 2019, registering a CAGR of 12.8% through the forecast period. The growth of the industry can be accredited to the growing demand for advanced therapeutic procedures and the expanding application of synthesized oligonucleotides. Moreover, the escalating research activities in the biotechnology and pharmaceutical industry are expected to further add traction to the market growth. The significant rise in the investment and funding for the development of synthetic biology is projected to fuel the industry expansion in the estimated timeframe.
The growing focus on the research and the augmenting need for precision medicine or customized medicine is one of the significant factors driving the demand for oligonucleotide synthesis, thereby contributing to the market’s progress. The emergence of the COVID-19 pandemic has also bolstered the growth of the market. This can be attributed to the growing need for rapid and accurate diagnosis and treatment for the COVID-19 infected patients. Drug manufacturers and healthcare experts are engaged in developing solutions to effectively diagnose SARS-CoV-2 infection using oligonucleotide combinations. Oligo-based testing kits have been in use extensively since the outbreak of the COVID-19 pandemic. The growing need for these kits is projected to generate an augmented demand for the oligonucleotide synthesis market.
However, the lack of implementation of standardized regulation for the safe use of synthesized oligonucleotides and a dearth of expert practitioners are predicted to be the restraining factors of market growth in the projected timeframe.
Grab Your Free Sample PDF Copy Now
Key Highlights from the Report:
- The research sub-segment is projected to account for a sizeable share of the market, registering a CAGR of 13% in the estimated timeframe. The growing number of genome research undertaken by the academic research institutes has added traction to the segment’s growth.
- The hospital sub-segment is predicted to occupy the largest share of the industry in the projected timeframe. This can be ascribed to the growing number of inpatient and outpatient hospital admissions and the rising need for oligonucleotide drugs to cater to the unmet medical needs of a vast population suffering from chronic disorders.
- North America commanded the market growth in 2019 and is projected to retain its dominant market position during the estimated timeframe. This can be accredited to the expanding research and development activities and the escalating number of FDA approvals for oligo-based diagnoses and therapeutic approaches.
- Major companies of the market include GenScript, Inc., Sarepta Therapeutics, Inc., GeneDesign, Inc., Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Bio-Synthesis, Inc., Nitto Denko Avecia, Inc., ATDBio Ltd, Biogen Idec International GmbH, and Integrated DNA Technologies, Inc., among others.
- Integrated DNA Technologies, Inc., in May 2020, announced the inauguration of a new production facility in the Research Triangle Park, North Carolina. The plant will expand the production capacity of IDT and will offer the east coast of the United States with excellent turnaround times for the product range. The company had planned the development of this North Carolina plant primarily for the development of the goods for the COVID-19 pandemic as a means to assist its clients in COVID-19-related analysis and testing.
For the purpose of this report, Emergen Research has segmented the Global Oligonucleotide Synthesis Market on the basis of product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Linkers
- Equipment
- Synthesized Oligonucleotides
- Probe
- Reagent
- Adaptor
Application Outlook (Revenue, USD Billion; 2017-2027)
- Therapeutic
- Diagnostics
- Research
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Biotechnology
- Pharmaceutical
- Laboratories
- Hospitals
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
To get leading market solutions, visit the link below:
https://www.emergenresearch.com/industry-report/oligonucleotide-synthesis-market