Oligonucleotides are short strands of nucleic acids that are manufactured synthetically and are widely used in research, diagnosis, and therapies. They are used for applications including gene synthesis, site-directed mutagenesis, probe construction, DNA sequencing and fragment analysis, library construction, and nucleic acid amplification. Technological advancements have enabled the large-scale synthesis of oligonucleotides of varying lengths and nucleotide compositions. Continuous oligonucleotide fragments of over 200 bases in length can now be routinely generated for applications such as antisense therapeutics and molecular diagnostics.
The global oligonucleotide synthesis market is estimated to be valued at US$ 4565 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Market Dynamics
Synthetic genes and genome engineering are revolutionizing biotechnology industries. Moreover, increasing demand for oligonucleotides as molecular probes is fueling market growth. For example, short synthetic DNA fragments are used as sequence-specific probes to detect complementary DNA or RNA sequences in molecular diagnostics and research. Oligonucleotides also serve as the foundation for molecular assays like polymerase chain reaction (PCR) that are frequently employed in clinical diagnostics and forensic analysis. The emergence of new diseases has also boosted the diagnostic applications of oligonucleotides. Advancements in oligonucleotide-based therapies for cancer, genetic diseases, and infectious diseases further present an opportunity for market players. However, high costs associated with oligonucleotide synthesis compared to conventional small-molecule drugs pose a major challenge to market growth. Continued R&D towards improving yields and reducing synthesis costs can help overcome this barrier.
Segment Analysis
The global oligonucleotide synthesis Companies is segmented by products and services, application, end user, and region. By products and services, the market is divided into equipment, reagents, and consumables & software. The equipment segment dominates the market owing to the high cost of oligonucleotide synthesizers and the need for periodic maintenance and upgradation of products.
PEST Analysis
Political: The market is positively impacted by government funding and initiatives for research activities involving oligonucleotides. However, stringent regulations may impact market growth.
Economic: Rising investments by biotechnology and pharmaceutical companies in R&D is fueling market growth. However, the high cost of oligonucleotide synthesis equipment poses a challenge.
Social: Increasing prevalence of chronic diseases and focus on personalized medicine is driving demand for oligonucleotides in diagnostics and therapeutics.
Technological: Advancements in oligonucleotide synthesis techniques such as phase-arrayed DNA synthesis and DMD-based oligo synthesis are improving synthesis efficiency and quality. Automation is also enhancing productivity.
Key Takeaways
The Global Oligonucleotide Synthesis Market Size is expected to witness high growth over the forecast period. The global oligonucleotide synthesis market is estimated to be valued at US$ 3,962.67 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Regional analysis: North America accounts for the largest share of the global market owing to the presence of major players and advanced research infrastructure in the region. Asia Pacific is expected to witness the fastest growth due to rising government investments and expanding healthcare infrastructure.
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. Thermo Fisher Scientific and Integrated DNA Technologies Inc. together account for over 50% market share.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it