by The oligonucleotide synthesis market is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Oligonucleotides are short DNA or RNA molecules that are widely used in various research activities including disease diagnosis, drug discovery and development. They find applications in polymerase chain reaction, gene expression studies, molecular diagnostics and therapeutics. Increasing research spending on chronic diseases and rising government funding for R&D efforts are fueling the demand for oligonucleotides.
Market Dynamics:
The growth of the oligonucleotide synthesis market is majorly driven by increasing research activities for developing treatment options against various diseases. For instance, as per estimates stated by Global Burden of Disease Cancer Collaboration, cancer burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. This is propelling participants to focus on research for developing innovative diagnostics and therapeutics using oligonucleotides.
Furthermore, growing demand of synthesized oligonucleotides from biotechnology and pharmaceutical companies for conducting clinical trials is also boosting the market growth. However, high costs associated with oligonucleotide synthesis methods may hamper the market growth over the forecast period.
SWOT Analysis
Strength: Oligonucleotide synthesis market has strong growth prospects due to the increasing applications in diagnostic and therapeutics, personalized medicine, gene therapies and genetic testing. Advancements in synthesis techniques have improved the yield and reduced the cost of oligonucleotide production. Availability of automation and high-throughput synthesis platforms allow large-scale oligonucleotide production.
Weakness: Higher startup and maintenance costs of oligonucleotide synthesis instruments limit their adoption, especially in emerging markets and academic laboratories. Challenges remain in synthesizing long oligonucleotides of more than 200 bases due to decreased coupling efficiencies.
Opportunity: Growing R&D investments and clinical trials in gene therapies and therapeutics will drive the demand for custom oligonucleotides. Rising prevalence of chronic diseases and cancer is propelling the development of diagnostics and personalized medicine relying on oligo synthesis. Increasing focus on direct-to-consumer genetic testing presents an opportunity.
Threats: Stringent regulations for the approval of oligo-based therapies may delay their commercialization. Emergence of alternative technologies like gene editing and RNA interference-based therapeutics can divert focus from oligonucleotide therapies.
Key Takeaways
The Global Oligonucleotide Synthesis Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing R&D investments in drug discovery and precision medicine. In 2023, the market size was valued at US$ 3962.67 Mn and is projected to reach over US$ 10 Bn by 2030.
Regional analysis
North America holds the largest share in the oligonucleotide synthesis market owing to availability of advanced research infrastructure and presence of key market players. However, Asia Pacific is poised to experience highest growth rate during the forecast period driven by rising healthcare expenditure, technological advancements, and growing biotechnology industry in countries like China and India. Growing collaborations between regional and international companies are further promoting market expansion.
Key players
Key players operating in the oligonucleotide synthesis market are Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies€TM, Inc, BioAutomation Corporation, Twist Bioscience, Shanghai SynTheAll Pharmaceutical Co., CUSABIO Technology LLC, Synbio Technologies, GENEWIZ, Eurofins Scientific, Agilent Technologies, Kaneka Eurogentec S.A., and LGC, Biosearch Technologies. Market leaders are focusing on launching innovative products, expanding manufacturing facilities, and acquisitions to strengthen their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
