PUBLISHER: 360iResearch | PRODUCT CODE: 1500426
PUBLISHER: 360iResearch | PRODUCT CODE: 1500426
[192 Pages Report] The Oligonucleotide Synthesis Market size was estimated at USD 10.29 billion in 2023 and expected to reach USD 12.24 billion in 2024, at a CAGR 20.24% to reach USD 37.41 billion by 2030.
Oligonucleotide synthesis is a chemical process that involves the automated assembly of single-stranded DNA or RNA molecules, referred to as oligonucleotides. This process is used in various applications, including research and development, drug discovery, gene therapy, and forensic science. The rising prevalence of chronic diseases worldwide is resulting in increased drug discovery and research activities and is facilitating the use of the oligonucleotide synthesis process to develop efficient drugs and therapeutics. The increasing investments in pharmaceutical and biotechnology research are expanding oligonucleotide synthesis processes to create custom nucleic acid sequences that can be used for targeted gene expression, diagnostic testing, and therapeutic agents. However, the high cost of production and issues in large-scale oligonucleotide synthesis may adversely impact the end-use sectors' use of the oligonucleotide synthesis process. Moreover, the ongoing improvements and collaboration to expand the development of oligonucleotides are expected to encourage the use of the oligonucleotide synthesis processes by end-use industries worldwide.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 10.29 billion |
Estimated Year [2024] | USD 12.24 billion |
Forecast Year [2030] | USD 37.41 billion |
CAGR (%) | 20.24% |
Regional Insights
The oligonucleotide synthesis market is evolving in the Americas owing to a well-established healthcare sector, increasing drug and therapeutic research activities, and a growing need for improved diagnostic testing solutions. The rising prevalence of chronic diseases, government initiatives and investments in modernizing healthcare infrastructure, and increasing drug discovery and research are facilitating the use of the oligo synthesis process across the end-use sectors in the region. The Asia-Pacific oligonucleotide synthesis market is experiencing significant growth due to increasing investments in biotechnology and pharmaceutical research, rising demand for synthetic oligonucleotides in diagnostics and therapeutics, and the expansion of genomic studies across the region. The growing need for early and efficient disease diagnosis, expanding life-science and medical research, and growing focus on developing improved diagnostic solutions are accelerating the use of the oligonucleotide synthesis processes by the research institutes and diagnostic laboratories in the EMEA region. Additionally, the ongoing research to minimize errors and enhance the quality and efficiency of the oligonucleotide synthesis process is anticipated to propel the growth of the oligonucleotide synthesis market worldwide.
Market Insights
The market dynamics represent an ever-changing landscape of the Oligonucleotide Synthesis Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Oligonucleotide Synthesis Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Oligonucleotide Synthesis Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Codexis Introduces Eco Synthesis Platform for Enhanced Oligonucleotide Manufacturing
Codexis unveiled their new Eco Synthesis Platform for large-scale protein synthesis. This innovative platform is designed to enable high-throughput production of oligonucleotide sequences at an industrial scale, allowing for increased throughput, manufacturing speed, and cost savings. The platform can be used to produce longer strands of DNA or RNA with more consistency than ever before. [Published On: 2023-05-10]
CordenPharma Enhances Oligonucleotide Production with Strategic Expansion in Colorado
CordenPharma took a major step into the oligonucleotide manufacturing industry with the announcement of their two-phase investment at CordenPharma Colorado. This expansion project adds two additional suites, potentially doubling their current production capacity for oligonucleotides, allowing them to better serve their customers with high-quality products in a timely manner. The investments also bring advanced process engineering and analytical labs, thus ensuring that all product specifications are met with precision and accuracy. [Published On: 2023-05-02]
Oligo Factory Launches Advanced Oligonucleotide Production Facility
Oligo Factory opened a new state-of-the-art oligonucleotide manufacturing facility, which features modernized production processes and equipment that is expected to increase the speed and reliability of supplying custom oligos to their customers. [Published On: 2023-03-02]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Oligonucleotide Synthesis Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Oligonucleotide Synthesis Market, highlighting leading vendors and their innovative profiles. These include Agilent Technologies, Inc., Ajinomoto Bio-Pharma Services, ATDBio Ltd., Bio-synthesis Inc., Biocomma Ltd., Biolegio B.V., Biolytic Lab Performance Inc., Bioserve India by Reprocell Group, Bon Opus Biosciences, LLC, Creative Biogene, Cusabio Technology LLC, Danaher Corporation, Eurofins Genomics LLC, Eurogentec S.A. by Kaneka Corporation, GE Healthcare Inc., Generi Biotech, Genscript Corporation, Hongene Biotech Corp., LGC Genomics Limited, Merck KGaA, Microsynth AG, Nitto Denko Avecia Inc., Novartis AG, PerkinElmer, Inc., Synbio Technologies, TAG Copenhagen A/S, TCI Chemicals (India) Pvt. Ltd., Thermo Fisher Scientific Inc., and TriLink BioTechnologies, Inc..
Market Segmentation & Coverage