Oligonucleotides are short, single-stranded polymers of DNA or RNA, typically less than 100 nucleobases in length. They are synthesized chemically in vitro from nucleotide precursors using solid-phase synthesis techniques developed by agencies like Merck, Glen Research, and others. Oligonucleotides have applications in diagnostics, therapeutics, research and forensic science. For example, they are used as DNA primers in polymerase chain reaction for selective amplification of specific DNA fragments. Antisense oligonucleotides bind to target mRNA molecules and prevent translation into proteins.
The global oligonucleotide synthesis market is estimated to be valued at US$ 3962.67 million in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global oligonucleotide synthesis market is driven by expanding applications of oligonucleotides in medical research. Researchers are exploring customized oligonucleotides as probes for genetic disorders, diagnostics of infectious diseases, and therapeutics. For instance, antisense therapy involves administration of synthetic oligos to downregulate gene expression by binding to target RNA transcripts. Several clinical trials evaluating antisense oligos for Duchenne muscular dystrophy, spinal muscular atrophy, and familial transthyretin amyloidosis are ongoing. Oligos are also utilized for primer design in next-generation DNA sequencing techniques. Increasing R&D investments by pharmaceutical firms and growing focus on precision medicine will boost demand for oligonucleotide synthesis in the coming years.
Driver 1: Expanding applications in medical research. Researchers are exploring customized oligonucleotides as probes for genetic disorders, diagnostics of infectious diseases, and therapeutics. For instance, antisense therapy involves administration of synthetic oligos to downregulate gene expression by binding to target RNA transcripts. This is driving growth of the oligonucleotide synthesis market.
Driver 2: Increasing R&D investments by pharmaceutical firms and growing focus on precision medicine will boost demand for oligonucleotide synthesis in the coming years. Precision medicine requires comprehensive genomic profiling for customized treatment strategies, thus fueling consumption of oligonucleotides in research.
The global oligonucleotide synthesis market is segmented into three categories based on technology, application and end user. Based on technology, the market is segmented into DNA synthesis, RNA synthesis, custom DNA/RNA synthesis and oligonucleotide-based products. The custom DNA/RNA synthesis segment is dominating the market currently owing to the increasing research and development activities involving synthesis of custom oligonucleotides for various applications.
Political: Governments across various countries are increasing their funding for life science research which is supporting research activities requiring oligonucleotides. Various regulations have also been established regarding the use of oligonucleotides.
Economic: Rising investments in pharmaceutical and biotechnology sectors along with growing academic and government research is fueling market growth. Developing regions with growing economies are potential markets.
Social: Increasing prevalence of chronic diseases and growing elderly population is raising demand for advanced therapeutics driving market growth. Growing awareness about personalized medicine is also supporting market demand.
Technological: Continuous innovations in oligonucleotide synthesis technologies are enabling improved efficiency, accuracy and scale of production. Automation incorporated in synthesis equipment is further enhancing output. Developments in therapeutic applications like antisense oligonucleotides are also expanding market scope.
Global Oligonucleotide Synthesis Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is US$ 3962.67 Mn.
North America currently captures the largest share in the global market owing to presence of major players and increasing research expenditure. Asia Pacific is predicted emerge as the fastest growing regional market due to growing economies, improving healthcare infrastructure and increasing government support for life science research.
Key players operating in the oligonucleotide synthesis market are Finish Line, White Lightning, Tri-Flow, Pedro’s, Park Tool, Muc-Off, Shimano, WD-40 Bike, Motorex, Rock N Roll, Maxima, Boeshield, Squirt, Morgan Blue, Mazola, Castrol, Weldtite, Phil Wood, ProGold. Key players are focusing on new product launches, expansions and collaborations to strengthen their market position.