CHICAGO, April 26,
2024 /PRNewswire/ -- Oligonucleotide Synthesis
Market in terms of revenue was estimated to be worth
$8.8 billion in 2024 and is poised to
reach $19.7 billion by 2029, growing
at a CAGR of 17.5% from 2024 to 2029 according to a new report by
MarketsandMarkets™.
One of the key factors driving the market growth is the growing
acceptance of alternate therapies such as oligonucleotide-based
therapies for the treatment of neurological and rare diseases. The incorporation of
synthesized oligonucleotides to treat various diseases also
supports market growth.
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Browse in-depth TOC on "Oligonucleotide Synthesis
Market"
546 - Tables
67 - Figures
454-
Pages
Oligonucleotide Synthesis Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$8.8 billion
|
Estimated Value by
2029
|
$19.7
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 17.5%
|
Market Size Available
for
|
2022–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Product, Application,
End User, and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, Middle East and Africa
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Increasing R&D
investments by key players in emerging economies
|
Key Market
Drivers
|
Increasing use of
synthesized oligos in therapeutic and diagnostic
applications
|
Probes accounted for the second-largest segment of the
synthesized oligos product segment in 2023.
Probes are an important subsegment in the market for synthesized
oligonucleotides. The segment accounted for the second-largest
market share of the synthesized oligonucleotide market. This is due
to high specificity and sensitivity of probes allowing their use in
genetic research, pathogen detection, clinical diagnostics, and the
study of gene expression patterns, offering insights into diverse
biological processes and disease mechanisms. Techniques such as
fluorescence in situ hybridization (FISH) utilize these probes for
the detection of various genetic abnormalities that the root cause
of several birth defects, neurological conditions and cancers among
others.
Hospitals accounted for the largest share of the end-user
segment in the oligonucleotide synthesis market in 2023.
By end user, hospitals accounted for the largest share of the
oligonucleotide synthesis market in 2023. Growth in this market is
largely driven by the significant number of FDA-approvals for
oligonucleotide-based drugs especially antisense oligonucleotide
drugs for rare and neurological diseases, increasing awareness
towards alternative therapies and growing health-care spending.
Ongoing research to develop oligonucleotide-based drugs for more
common diseases such as cardiovascular diseases, supported by
availability of reimbursement
policies in developed economies are aiding this segment's
growth.
The PCR subsegment accounted for the largest share of the
research applications segment in the oligonucleotide synthesis
market in 2023.
In 2023, PCR accounted for the largest share of the research
application subsegment of the oligonucleotide synthesis market. PCR
technologies such as real-time PCR or quantitative PCR
(qPCR) used for both qualitative and quantitative analysis in
the fields of molecular diagnostics, medicine, microbiology, and
forensic biology are driving end-user demand. These PCR
applications utilize sequence-specific primers, thus boosting the
market for oligos (which are used as probes and primers) in the PCR
market.
North America to register
the highest CAGR in the oligonucleotide synthesis market.
The North America region is
expected to show the highest CAGR of the oligonucleotide synthesis
market. The growing investments in research and development by
major pharmaceutical & biotechnology companies, increasing
application of oligonucleotides in pharmaceutical drug research,
and growing public & private sector investments in genomics and
related technologies are expected to aid market growth in the
North America.
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Oligonucleotide Synthesis Market Dynamics:
Drivers:
- Increasing use of synthesized oligos in therapeutic and
diagnostic applications
- Technological advancements
- Growing government investments in life science research and
synthetic biology
- Growing focus on precision/personalized medicine
Restraints:
- Complexities associated with therapeutic oligonucleotides
Opportunities:
- Increasing R&D investments by key players in emerging
economies
Challenge:
- Lack of standard regulations
- Delivery of oligonucleotide drugs to specific targets
Key Market Players of Oligonucleotide Synthesis
Industry:
Some leading players operating in the oligonucleotide synthesis
market are Danaher Corporation (US), Thermo Fisher Scientific Inc.
(US), Merck KGaA (Germany),
Eurofins Scientific (Luxembourg),
LGC Limited (UK), Agilent Technologies, Inc. (US), Kaneka
Corporation (Japan), Maravai
Lifesciences holdings, Inc. (US), Azenta, Inc. (US), Twist
Bioscience Corporation (US) and Genscript Biotech Corporation (US).
Major players in the oligonucleotide therapeutics market are Biogen
Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta
Therapeutics, Inc. (US), Astrazeneca (UK), Astellas Pharma Inc.
(Japan), Jazz Pharmaceuticals Plc
(Ireland), Nippon Shinyaku, Co.
Ltd. (Japan), Ionis
Pharmaceuticals, Inc. (US) and Novartis AG (Switzerland).
The primary interviews conducted for this report can be
categorized as follows:
- By Respondent: Supply Side- 70% and Demand Side - 30%
- By Designation: Managers- 45%, CXOs, and Director level - 30%,
and Executives - 25%
- By Region: North America -35%,
Europe - 25%, Asia-Pacific -15%, Latin America -10%, Middle East- 10%, Africa- 5%
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Recent Developments of Oligonucleotide Synthesis
Industry:
- In November 2023, LCG Biosearch
Technologies, a business unit of LGC Limited, acquired PolyDesign
to enhance its oligonucleotide synthesis capabilities using
PolyDesign's frit technology.
- In October 2023, Integrated DNA
Technologies (IDT), a subsidiary of Danaher Corporation, opened its
therapeutic oligonucleotide manufacturing facility in Coralville, Iowa. This facility will produce
reagents for cGMP cell & gene therapy, including single-guide
RNAs and HDR donor oligos.
Oligonucleotide Synthesis Market - Key Benefits of Buying the
Report:
The report will help market leaders/new entrants by providing
them with the closest approximations of the revenue numbers for the
overall oligonucleotide synthesis market and its subsegments. It
will also help stakeholders better understand the competitive
landscape and gain more insights to position their business and
make suitable go-to-market strategies. This report will enable
stakeholders to understand the market's pulse and provide
information on the key market drivers, restraints, challenges,
trends, and opportunities.
The report provides insights on the following
pointers:
- Analysis of key drivers (e.g., Increasing use of synthesized
oligos in therapeutic and diagnostic applications, Technological
advancements), restraints (e.g., complexities associated with
oligonucleotide-based drugs), opportunities (e.g., increasing
pharma R&D investments in emerging economies), and challenges
(e.g., lack of standard regulations) are influencing the growth of
the oligonucleotide synthesis market.
- Product Approvals: Detailed insights on newly approved products
of the oligonucleotide synthesis market.
- Market Development: Comprehensive information about lucrative
markets – the report analyses the oligonucleotide synthesis market
across varied regions.
- Market Diversification: Exhaustive information about new
products, recent developments, and investments in the
oligonucleotide synthesis market.
- Pipeline Analysis: Comprehensive information about products
under clinical trials.
- Competitive Assessment: In-depth assessment of market shares,
growth strategies, and product offerings of leading players
including Danaher Corporation (US), Thermo Fisher Scientific Inc.
(US), Merck KGaA (Germany), among
others offering products for research & diagnostic applications
and Biogen Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta
Therapeutics, Inc. (US) among others offering products for
therapeutic applications.
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Companies and Oligonucleotide Synthesis Industry Growth
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