Oligonucleotide Synthesis Market By Product (Oligonucleotide-Based Drugs, Synthesized Oligonucleotides, Reagents, and Equipment), By Application (Therapeutic Applications, Research Applications, and Diagnostic Applications), By End User (Hospitals, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, CROs and CMOs, Academic Research Institutes) And By Geographic Regions (North America, Europe, Asia Pacific, Latin America, Middle East and Africa): Industry Trends and Global Forecasts, 2023-2032
Market Size and Overview: The oligonucleotide synthesis market size is poised to reach USD 36.0 billion by the end of 2032, growing at a CAGR of 16.7% during the forecast period, i.e., 2023 – 2032. In the year 2022, the industry size of oligonucleotide synthesis market was USD 7.7 billion. The reason behind the growth can be attributed to the increasing demand in fields such as research, diagnostics and therapeutics, Advancements in synthesis technologies, The expanding biotechnology and pharmaceutical industries in developing regions And The application of oligonucleotides in gene editing. The marketplace incorporates a wide range of products. The market is highly competitive with key players striving to meet evolving customer demands.
Oligonucleotide Synthesis Market: Report Scope
Base Year Market Size
Forecast Year Market Size
- Oligonucleotide-Based Drugs
- Synthesized Oligonucleotides
- Therapeutic Applications
- Research Applications
- Diagnostic Applications
- Pharmaceutical & Biotechnology Companies
- Diagnostic Laboratories
- CROs and CMOs
- Academic Research Institutes
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
On the basis of product in the oligonucleotide synthesis market the oligonucleotide-based drugs segment accounted the highest market share in 2022. Oligonucleotide-based totally drugs are used to treat an extensive range of conditions, which include cancer, genetic issues, and infectious sicknesses. The demand for oligonucleotide-primarily based medications is growing due to the growing occurrence of those illnesses and the development of recent oligonucleotide-based totally drugs. Oligonucleotide-based totally tablets are more powerful and have fewer side effects than conventional medicines.
North America stands as one of the major markets for Oligonucleotide Synthesis, driven through the emphasis on research and development activities in the biotechnology and pharmaceutical industries make contributions to the region’s dominance. The United States, primarily, is a key contributor on this marketplace. Europe is one of the leading marketplaces for Oligonucleotide Synthesis because of the region’s mix of research, diagnostic, and therapeutic users. The European market showcases a developing interest in personalized medicine and gene therapies. The Asia Pacific Oligonucleotide Synthesis market is estimated to witness significant growth, during the forecast timeframe led by, rapid economic growth, increasing healthcare expenditure, and a growing focus on research and development activities. The demand for Oligonucleotide Synthesis is anticipated to rise in countries like China and India, in which expanding biotechnology and pharmaceutical industries and rising prevalence of genetic disorders. Latin America and the Middle East and Africa display steady growth inside the Oligonucleotide Synthesis market, fueled via increasing adoption of personalized medicine and the growing demand for diagnostic and therapeutic applications in these regions. Key participants to the market's growth in these areas encompass Brazil, Mexico, the United Arab Emirates, and South Africa.
The market, for oligonucleotides is experiencing growth due to the increasing demand in fields such as research, diagnostics and therapeutics. Moreover, the prevalence of disorders and the focus on medicine are also contributing to the rising need for oligonucleotide synthesis. Researchers and clinicians are attracted to modified oligonucleotides because of advancements in synthesis technologies. These modified versions offer stability, specificity and efficacy compared to their counterparts presenting significant growth potential. The demand for oligonucleotide synthesis is driven by the expanding biotechnology and pharmaceutical industries in developing regions. The use of oligonucleotides is essential in gene therapies and personalized medicine approaches that are gaining momentum. The introduction of CRISPR Cas9 gene editing technology has revolutionized the market. The application of oligonucleotides in gene editing has witnessed an increase thereby boosting the demand, for oligonucleotide synthesis.
High cost of Oligonucleotide Synthesis and limited availability of skilled professionals are hindering the growth of market. In developing regions, this factor has resulted in limited demand for product. Moreover, the regulatory challenges are also restricting the growth of market.
Key Companies: The Oligonucleotide Synthesis market is poised by several main corporations, each making big contributions to the industry through their sturdy market presence and progressive product offerings. Among these principal players are Danaher Corporation, Thermo Fisher Scientific, Inc., Merck KGaA, LGC Limited, Maravai Life Sciences, Agilent Technologies, Inc., Eurofins Scientific, Kaneka Corporation, Biolegio B.V., Biolytic Lab Performance Inc., Microsynth AG, and ATDBio Ltd. And other players. These essential players constantly try and revamp their marketplace percentage and meet the desires of a diverse investor base. Their competitive techniques encompass product innovation, forging strategic partnerships, undertaking mergers and acquisitions, and increasing their distribution networks.
In January, 2023, Danaher Corporation announced that it has acquired Integrated DNA Technologies (IDT), a leading provider of oligonucleotide synthesis products and services.
In March 8, 2023, Merck KGaA announced that it has launched a new automated oligonucleotide synthesis platform.