Global Oligonucleotide Synthesis Market - 2024 - 2031

Report Overview

Global Oligonucleotide Synthesis Market reached US$ 7.5 billion in 2023 and is expected to reach US$ 15.2 billion by 2031, growing at a CAGR of 9.0% during the forecast period 2024-2031

Oligonucleotide synthesis is the chemical process of creating short nucleotide sequences, known as oligonucleotides, for molecular biology, biotechnology, and therapeutic applications. These synthetic DNA or RNA strands are used in genetic analysis, diagnostics, and therapeutics. Advancements in this technology have led to personalized medicine, RNA-based vaccines, and targeted therapies for genetic diseases. The market for synthetic oligonucleotides continues to expand due to innovations in genomics, biopharmaceuticals, and diagnostics.

Market Dynamics: Drivers & Restraints

Increased investment in pharmaceutical and biotechnology companies

The oligonucleotide synthesis market is boosted by substantial investment from government funds and research, promoting innovation and therapeutic exploration. However, challenges like cost erosion and lack of standardized guidelines pose potential hindrances. Therefore, stakeholders must navigate these market dynamics to fully capitalize on the market's growth potential in the near future.

For instance, in June 2024, GSK plc announced that it had acquired Elsie Biotechnologies, a San Diego-based private biotechnology company dedicated to unlocking the full potential of oligonucleotide therapeutics, for up to $50 million (approximately £39 million). Oligonucleotides have a unique ability to modulate gene expression, making them an attractive modality to address a significant proportion of therapeutic targets that are not amenable to traditional small molecules or biologics.

Erosion of costs

The oligonucleotide synthesis market faces challenges due to cost erosion, uncertainty in therapeutic oligo guidelines, and a lack of unified guidelines. These factors could impact profit margins and market sustainability, hindering the seamless progression of oligonucleotide synthesis technologies. It is crucial for industry stakeholders to effectively address these challenges for sustained growth in molecular diagnostics and clinical applications.

Market Segment Analysis

The global oligonucleotide synthesis market is segmented based on product type, application, end-user, and region.

The reagents from the product type segment accounted for approximately 41.3% of the oligonucleotide synthesis market share

The reagents from the product type segment accounted for approximately 41.3%. The global oligonucleotide synthesis market relies heavily on reagents, including phosphoramidites, solvents, catalysts, and capping agents, which control the efficiency, accuracy, and yield of the synthesis process. High-quality reagents ensure the fidelity of oligonucleotide chains and minimize errors. The market for synthesis reagents has expanded significantly due to the growing demand for precise and reliable oligonucleotides in gene editing, diagnostics, and therapeutics. The success of oligonucleotide-based research and the development of novel therapeutics are directly linked to reagent quality advancements.

For instance, in September 2024, Emp Biotech partnered with Atom Scientific to distribute its high-quality oligonucleotide synthesis reagents in the UK and Ireland, marking an exclusive distribution partnership for the company's oligonucleotide synthesis products.

Market Geographical Share

North America is estimated to hold about 38.4% of the total market share throughout the forecast period

North America is estimated to hold about 38.4% of the total market share throughout the forecast period due to increasing R&D investments in the field of life sciences and healthcare and the growing focus on developing personalized therapeutics for various diseases are major factors supporting the large share of this market.

For instance, in May 2024, Codexis, Inc. a leading enzyme engineering company, announced it successfully synthesized an oligonucleotide via an enzymatic route to support RNA-based therapeutics manufacturing. Codexis has achieved the first enzymatic synthesis of a full-length oligonucleotide from starting material through the attachment of a conjugation moiety, providing a significant proof of process for alternative manufacturing methods in the RNAi therapeutics industry.

Moreover, the American Cancer Society predicts that in the year 2024, there will be 2,001,140 new cancer cases and 611,720 cancer-related deaths in the U.S. As the demand for new and improved cancer treatments increases, the requirement for synthetic oligonucleotides is growing. The synthetic oligonucleotides are used in a variety of research and diagnostic applications.

Market Segmentation

By Product Type

Reagents

Equipment

Synthesized Oligonucleotides

Oligonucleotide-based drugs

Primers

Probes

Large-scale synthesized oligonucleotides

Others

By Application

Research

PCR

QPCR

Sequencing

Gene Synthesis

Others

Diagnostics

Therapeutics

DNA & Oligonucleotide-based therapies

RNAi Oligonucleotide-based therapies

CpG Oligonucleotide-based therapies

By End User

Hospitals

Academic & Research Institutes

Pharmaceutical & Biotechnology companies

Diagnostic Laboratories

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Rest of Europe

South America

Brazil

Argentina

Rest of South America

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Middle East and Africa

Market Competitive Landscape

The major global players in the market include Thermo Fisher Scientific Inc., Agilent Technologies Inc., Integrated DNA Technologies (IDT), LGC Biosearch Technologies, Bio-Synthesis Inc., GE Healthcare (Cytiva), Eurofins Genomics, TriLink BioTechnologies (a Maravai LifeSciences company), Merck KGaA (Sigma-Aldrich), ATDBio Ltd among others.

Key Developments

In May 2024, Molecular Assemblies, Inc. a pioneer and leader in the field of enzymatic DNA synthesis, announced the launch of its Partnering Program to license Molecular Assemblies' Fully Enzymatic SynthesisTM (FESTM) technology for onsite synthesis. FES technology accelerates the production of long, pure, and accurate DNA to power a new rapidly emerging generation of therapeutics and diagnostics.

In March 2023, Ansa successfully synthesized a 1005-base-long oligonucleotide with industry-leading accuracy, marking a significant advancement in oligonucleotide synthesis. The company launched an Early Access Program for clonal synthetic genes in April 2023 to assist researchers in obtaining challenging sequences, such as the 1005 base sequence for gene therapy development, which is highly complex and requires the assembly of shorter oligonucleotides.

Why Purchase the Report?

To visualize the global oligonucleotide synthesis market segmentation based on product type, application, end-user, and region as well as understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel data sheet with numerous data points of the oligonucleotide synthesis market level with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping available as excel consisting of key products of all the major players.

The global oligonucleotide synthesis market report would provide approximately 64 tables, 61 figures, and 186 pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies