The global Oligonucleotide Synthesis Market is estimated to be valued at US$ 2,874.1 Mn in 2020 and is expected to exhibit a CAGR of 11.3% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Oligonucleotide synthesis involves the production of short DNA or RNA molecules with specific sequences. These synthetic oligonucleotides have various applications in molecular biology research, genetic engineering, diagnostics, therapeutics, and others. The key advantages of synthetic oligonucleotides include their high specificity, stability, and ease of modification, making them valuable tools in the life sciences industry.
Market Key Trends:
One key trend observed in the oligonucleotide synthesis market is the increasing demand for synthetic oligonucleotides in therapeutic applications. Synthetic oligonucleotides are widely used in the development of therapeutic drugs, including antisense oligonucleotides, siRNA, aptamers, and others. These molecules have the potential to target specific disease-associated genes and inhibit their expression, offering promising opportunities for precision medicine and targeted therapy.
For instance, Ionis Pharmaceuticals, an industry leader in RNA-targeted therapeutics, has successfully developed various oligonucleotide-based drugs for diseases such as spinal muscular atrophy (SMA), familial hypercholesterolemia, and amyotrophic lateral sclerosis (ALS). These advancements in therapeutic applications are driving the demand for oligonucleotide synthesis.
PEST Analysis:
Political: The regulatory environment plays a crucial role in the oligonucleotide synthesis market. Government regulations related to drug development, intellectual property, and ethical considerations impact the growth of the market.
Economic: The economic factors influencing the market include the cost of oligonucleotide synthesis, availability of funding for research and development activities, and reimbursement policies for oligonucleotide-based therapeutics.
Social: The growing awareness about precision medicine and personalized therapeutics among healthcare professionals and patients is driving the demand for oligonucleotide synthesis.
Technological: Technological advancements in oligonucleotide synthesis platforms, such as high-throughput synthesizers, automation, and solid-phase synthesis techniques, are improving the efficiency and scalability of the process.
Key Takeaways:
– The global oligonucleotide synthesis market is expected to witness high growth, exhibiting a CAGR of 11.3% over the forecast period, due to increasing demand for synthetic oligonucleotides.
– North America is expected to be the fastest-growing and dominating region in the oligonucleotide synthesis market due to the presence of major players, well-established healthcare infrastructure, and continuous advancements in genomics and molecular biology research.
– Key players operating in the global oligonucleotide synthesis market include Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies', 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. These companies are focusing on strategic collaborations, product launches, and mergers and acquisitions to strengthen their market presence and expand their product offerings.
In conclusion, the oligonucleotide synthesis market is witnessing high growth due to the increasing demand for synthetic oligonucleotides in various applications. The market is expected to continue growing at a significant rate over the forecast period, driven by advancements in therapeutic applications, favorable government regulations, growing awareness about precision medicine, and technological advancements. North America is expected to be the fastest-growing region in the market, while key players are actively involved in strategic initiatives to maintain their competitive position.
