PUBLISHER: Grand View Research | PRODUCT CODE: 1511904
PUBLISHER: Grand View Research | PRODUCT CODE: 1511904
The global phosphoramidite market size is expected to reach USD 1.76 billion by 2030, growing at a CAGR of 7.37% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for phosphoramidite in pharmaceuticals and advancements in biotechnology and life sciences are the factors anticipated to drive the market growth. The growing demand for customized DNA and RNA synthesis is also expected to boost the growth.Moreover, the rising investments in healthcare and life sciences research are projected to propel the growth.
Governments, academic institutions, and private organizations are investing significantly in healthcare and life sciences research. This investment fosters innovation and drives the development of new applications for phosphoramidites, fueling market growth. For instance, in January 2024, The Development Bank of Japan (DBJ) is providing financial support to a life science investment firm, 4BIO Partners LLP, in the UK. This investment is expected to be between USD 200 million and USD 300 million in size. 4BIO Partners LLP is focusing on private companies involved in the development of advanced cell and gene therapy, RNA-based therapy, microbiome support, and other emerging technologies within the health tech sector.
The COVID-19 pandemic has had a significant impact on the industry. The pandemic has boosted research efforts across the globe, particularly in virology, immunology, and molecular biology, leading to a surge in demand for oligonucleotides synthesized using phosphoramidites. This increased demand for research purposes has positively impacted on the market. The urgency to develop treatments and vaccines for COVID-19 has accelerated drug development processes.
Phosphoramidites are crucial in the synthesis of nucleic acid-based therapeutics, including mRNA vaccines and antisense oligonucleotide drugs, driving the demand for phosphoramidites. While COVID-19 research has increased demand for certain applications, research in other areas has been deprioritized or postponed during the pandemic. This shift in research priorities has implications for the demand for phosphoramidites in specific applications, affecting market dynamics.
The manufacture and use of phosphoramidites are subject to regulatory oversight regarding safety, environmental impact, and intellectual property rights. Compliance with evolving regulations and obtaining necessary approvals can take time and effort, posing challenges for market players. Phosphoramidite synthesis and oligonucleotide production require specialized equipment, expertise, and stringent quality control measures. Developing and maintaining the infrastructure and technical capabilities necessary for phosphoramidite manufacturing can be challenging for smaller companies and new entrants.