Oligonucleotide Synthesis Market is estimated to be US$ 12.09 billion by 2030 with a CAGR of 9.0% during the forecast period
Oligonucleotides are synthesized either commercially for a variety of end users or individually for self-consumption using DNA synthesizers. Improvements in oligonucleotide synthesis, amplification, and automation have dramatically transformed biological research in recent years. It is also possible to make adjustments and obtain the required sequence quickly and easily online. The cost per base pair, error rates, lengths, throughput, and other factors all affect the price of these services. The global oligonucleotide synthesis industry is fiercely competitive, yet it offers biotechnology businesses plenty of room to grow. The rising adoption of synthesized oligonucleotides in diagnostic and clinical applications, rising R&D expenditure and government investment in pharmaceutical and biotechnology research, falling sequencing costs, increasing public and private spending on genomics, and rising venture capital investments/funding are all contributing to the market's growth. In recent years, major key players have acquired a number of small-scale oligonucleotide synthesis companies in order to enhance their product and service offerings and grow their presence in the oligonucleotide synthesis industry.
The global oligonucleotide synthesis market is expected to be dominated by North America in 2020, followed by Europe. During the projection period, however, demand from the Asia-Pacific region is predicted to expand at the quickest CAGR. Some of the primary reasons supporting the growth of the oligonucleotides market in the APAC region include increasing availability of synthesized oligonucleotides, strong presence of pharma and biotech businesses, expanding research outsourcing to CROs, and increased R&D funding and activities.
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Key Market Insights from the report:
Global Oligonucleotide Synthesis Market accounted for US$ 5.17 billion in 2020 and is estimated to be US$ 12.09 billion by 2030 and is anticipated to register a CAGR of 9.0%. The Global Oligonucleotide Synthesis Market report segments the market on the basis of product and service, application, end-user and region.
- Based on Service, Global Oligonucleotide Synthesis Market is segmented into Synthesizer, Custom Oligonucleotide Synthesis, Probes, Premiers, Linkers & Adaptors and Reagents & Consumables.
- Based on Application, Global Oligonucleotide Synthesis Market is segmented into Research, Therapeutics and Diagnostics.
- Based on End-User, Global Oligonucleotide Synthesis Market is segmented into Pharmaceutical & Biotechnology Companies, Academic Research Institutes, Diagnostic Laboratories and Others.
- By Region, the Global Oligonucleotide Synthesis Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Oligonucleotide Synthesis Market:
The key players operating in the Global Oligonucleotide Synthesis Market includes Integrated DNA Technologies, Inc. (U.S.) (Part of Danaher Corporation), Merck KGaA (Germany), Eurofins Scientific SE (Luxembourg), Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies, Inc. (U.S.), GE Healthcare (U.S.), GeneDesign, Inc. (Japan) (Part of Ajinomoto Co.,Inc.), Kaneka Eurogentec (Belgium) (Part of Kaneka Corporation), LGC Biosearch Technologies (U.S.), Bio-synthesis Inc. (U.S.), TriLink BioTechnologies, LLC (U.S.) (Part of Maravai LifeSciences), and ATDBio Ltd. (U.K.) among others.