Oligonucleotide Synthesis Market Outlook
Oligonucleotide synthesis is the chemical synthesis of little fragments of nucleic acids that are produced through enzymatic chemistry and genetic engineering. It is used in laboratories for diagnostics, academic, industrial, and therapeutic applications. Oligonucleotide synthesis helps in building monoclonal antibody primers and probes in recombinant deoxyribonucleic acid (DNA) technologies. It is majorly utilized in medical, biological, forensic, and clinical applications for gene cloning, expression, molecular diagnostics and genetic disease screening.
What is the expected growth rate of the global oligonucleotide synthesis market during 2022-2027?
The global oligonucleotide synthesis market reached a value of US$ 2.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2027, exhibiting a CAGR of 12.71% during 2022-2027.
What are the key factors driving the global oligonucleotide synthesis market?
The rapid spread of coronavirus disease (COVID-19) has led to the emergent need for a potential treatment, including DNA and Ribonucleic acid (RNA) vaccines. This represents one of the primary factors driving the global oligonucleotide synthesis market toward growth. In line with this, an increasing focus on providing personalized medical care is contributing to the market growth.
The rising prevalence of cancer and other chronic illnesses has positively influenced the demand for novel diagnostics, which is acting as another major growth-inducing factor. Increasing investments by governments of various nations in the research and development (RD) of advanced genomic technologies are further creating a positive outlook for the market.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Who are the key players/companies in the global oligonucleotide synthesis market?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Agilent Technologies Inc.
- Biolegio B.V.
- Bio-Synthesis Inc
- Eurofins Genomics
- GenScript
- Horizon Discovery Ltd
- Integrated DNA Technologies Inc (Danaher Corporation)
- Kaneka Eurogentec S.A. (Kaneka Corporation)
- LGC Limited
- Nitto Denko Avecia Inc (Nitto Denko Corporation)
- Thermo Fisher Scientific Inc.
What is the breakup of the global oligonucleotide synthesis market based on?
The report has categorized the market based on product, application and end use.
A Breakup by Product:
- Synthesized Oligonucleotide Products
- Reagents
- Equipment
- Services
Breakup by Application:
- PCR Primers
- PCR Assays and Panels
- Sequencing
- DNA Microarrays
- Fluorescence In-Situ Hybridization (FISH)
- Antisense Oligonucleotides
- Others
Breakup by End Use:
- Pharmaceutical and Biotechnology Companies
- Hospital and Diagnostic Laboratories
- Academic Research Institutes
What are the key regions in the global oligonucleotide synthesis market?
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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