The Oligonucleotide Synthesis Market Size is expected to gain a market value of USD 27.2619 billion by 2030 at a CAGR of 16.50 % over the forecast period of 2023-2030.
The Oligonucleotide Synthesis market has witnessed significant growth in recent years, driven by the increasing demand for custom oligo synthesis and the expanding applications of oligonucleotides in research, diagnostics, and therapeutics. Oligonucleotides, particularly RNA oligonucleotides, play a crucial role in various biological and molecular processes, making them essential tools in the fields of genomics, proteomics, and synthetic biology.
Oligonucleotide synthesis involves the chemical synthesis of short DNA or RNA sequences, commonly known as oligos. These oligos are crucial in various molecular biology applications, including polymerase chain reaction (PCR), DNA sequencing, gene synthesis, and antisense therapy. The market for oligonucleotide synthesis is driven by the increasing demand for customized oligos with specific sequences and modifications, allowing researchers to tailor oligos for their specific experimental needs.
The rise in genomic research, personalized medicine, and the development of novel therapeutics has fueled the growth of the oligonucleotide synthesis market. RNA oligonucleotides, in particular, have gained prominence due to their versatile applications in gene expression studies, RNA interference (RNAi), and mRNA-based therapeutics. The development of RNA-based drugs, such as mRNA vaccines, has further propelled the demand for high-quality RNA oligonucleotides.
Major Key Players:
The Oligonucleotide Synthesis Companies are GE Healthcare (U.S.), Integrated DNA Technologies, Inc (U.S), Eurogentec S.A (Belgium), Sigma-Aldrich Corporation (U.S.), Bioautomation Corporation (U.S.), Agilent Technologies Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Eurofins Genomics (Germany), L.G.C Biosearch Technologies (U.S.), Nitto Denko Avecia Inc. (Japan), and others.
Segment Analysis
MRFR, for a better understanding of the oligonucleotide synthesis market, segmented the market by product type, application, and end-users.
Based on the product type, the oligonucleotide synthesis market can be segmented into synthesized oligonucleotides, reagents and equipment. The synthesized oligonucleotides segment has a substantial hold over the market.
Based on the application, the oligonucleotide synthesis market can be segmented into library preparation, diagnostic, research, therapeutics, genetic testing, gene synthesis, drug target screening, and others. Drug target screening is quite popular as it gets substantial traction from the pharmaceutical sector.
Based on the end-users, the oligonucleotide synthesis market can be segmented into academic research institutes, diagnostic laboratories, and pharmaceutical & biotechnology companies. Diagnostic laboratories are expected to record considerable growth during the forecast period.
Regional Analysis
Region-specific segmentation of the oligonucleotide synthesis market, as discussed in the MRFR report, includes North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The rise of North America can be attributed to the constant search for better treatment. The robust healthcare structure and the infrastructure of the research centers are quite indicative of that. Regional endeavor for such things is getting mostly driven by chronic diseases such as cancer and diabetes. Governments and private investors are equally funding for innovation in the sector, and it can take the regional market further ahead.
Europe is getting driven by the same intents like that of North America and is getting amply backed by research centers and government initiatives. Funding for the regional market is not a big problem as many pharmaceutical companies from the region are investing substantially in understanding the gene sequence to develop better drugs. The APAC region is expected to rise significantly as many of the global titans are looking at the region as a possible investment opportunity. Infrastructural benefits and low cost of resources are some alluring factors that are controlling the market.
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