PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1473664
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1473664
The oligonucleotide synthesis market is projected to reach USD 19.7 billion by 2029 from USD 8.8 billion in 2024, at a CAGR of 17.5% during the forecast period. The synthesized oligonucleotide market is projected to reach USD 4.9 billion in 2029 from USD 2.2 billion in 2024, growing at a CAGR of 17.0% during the forecast period. The growth of this market is driven by several factors such as the increasing use of synthesized oligonucleotides such as primers and probes for various research and diagnostic applications. Technological advancements in the field of oligonucleotide synthesis further contribute to the growth of the market.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) Billion |
Segments | Product, Application, End User, and Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
"The oligonucleotide synthesis market growth for synthesized oligonucleotides can be attributed to the growing research focused on the development of novel oligonucleotide-based drugs and their wide applications in diagnostic procedures."
The oligonucleotide synthesis market, based on synthesized oligonucelotides (part of product segmentation), is further segmented into primer, probes, DNA Oligos, RNA Oligos, Other synthesized oigonucelotides. Synthesized oligonucelotides have a wide application in research for novel drug development and are mainly used in PCR and sequencing. Additionlly, diagnostic procedures used for detection of genetic disorders, companion diagnostics are also few of the major application areas for synthesized oligonucelotides.
"The primers segment will grow at the highest rate in the synthesized oligos market, by product."
By Product, synthesized oligonucelotide maket is segmented into primers, probes, DNA oligos, RNA oligos, and other synthesized oligos including BNA & LNA oligos. Primers are expected to grow at the highest rate during the forecasted period owing to the extensive use of primers in a wide range of applications such as PCR, sequencing, gene synthesis and cloning. Primers allow aplification of target gene sequences for gene expression studies, molecular diagnostics and genetic analysis.
"By therapeutic application, the neurological disease segment accounted for the largest share of the oligonucleotide synthesis market in 2023."
The therapeutic application segment is segmented by disease type into neurological, rare and other diseases. In 2023, neurological disease segment accounted for the largest share of this segment as major companies are focusing on the development of oligo-based drugs for the treatment of neurological diseases such as DMD and SMA. Oligo based drugs that are used as therapies for these disorders have most FDA approvals.
"North American region is expected to register a highest CAGR in the oligonucleotide synthesis market."
The market for oligonucleotide synthesis in North America is estimated to grow at the highest rate during the forecast period. Ongoing investments and funding provided by various government bodies, biotechnology and pharmaceutical companies to develop oligonucelotide based therapies for various rare and neurological disease, presence of strong venture capital ecosystem, growing awareness and early adoption of novel and alternate therapies in this region are few factors that support thr growth of this regional market. North America also has the established pharmceutical manufacturing infrastructure and the presence of the promnient players of the oligonucleotide synthesis market such as Danaher Corporation and Thermo Fisher among other which futher supports the leadership position of this region.
Note: Above list is inexhaustive
This report provides a detailed picture of the oligonucleotide synthesis market. It aims to estimate the market's size and future growth potential across different segments such as the product, application, end user, and region. The report also includes an in-depth competitive analysis of the key market players and their company profiles, recent developments, key market strategies, funding activities, brand/product comparative analysis, and vendor valuation and financial metrics of the oligonucleotide synthesis market.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall oligonucleotide synthesis market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide information on the key market drivers, restraints, challenges, trends, and opportunities.