Oligonucleotide Synthesis Market Growth Accelerated by Rising R&D Investments

 

Oligonucleotide Synthesis Market 

Oligonucleotides are short nucleic acid polymers used in various molecular biology techniques such as sequencing, cloning, in situ hybridization and others. Oligonucleotide synthesis finds applications in development of diagnostic tools, therapeutic development and other research activities. The growing incidences of chronic diseases and focus on precision medicine is driving huge investments in R&D which in turn is augmenting the demand for oligonucleotide synthesis. 

The global Oligonucleotide Synthesis Market is estimated to be valued at US$ 4565 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

 Rising R&D investments is one of the key trends fueling growth of the oligonucleotide synthesis market. Biopharma and biotech companies are investing significantly in development of novel therapeutics such as oligonucleotide drugs which require oligonucleotides at different stages of development. Furthermore, growth in clinical trials is also promoting oligonucleotide synthesis. With increasing incidence of chronic diseases, focus on precision medicine and development of personalized therapeutics is growing exponentially. This is encouraging research related to biomarker identification, target identification and validation which involve extensive use of oligonucleotides thereby driving the market growth over the forecast period.

Segment Analysis
The global oligonucleotide synthesis market is dominated by the synthesis or reagents and equipment segment. This segment contributes over 60% revenue share owing to the wide applications of oligonucleotides that drives the demand for various reagents and equipment required for oligonucleotide synthesis. The reagents sub-segment accounts for the largest share as different reagents are required for various oligonucleotide synthesis chemistries. Within equipment, DNA synthesizers sub-segment dominates as it is the core equipment required for large-scale oligonucleotide synthesis.

Key Takeaways
The global oligonucleotide synthesis market is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis shows that North America is currently the largest as well as the fastest growing regional market. This is attributed to the strong foothold of key market players and robust research environment in the region that drives R&D investment in oligonucleotide therapeutics.

Key players operating in the oligonucleotide synthesis market are Forte Research Systems (India), ICON plc (Ireland), Merge healthcare incorporated (U.S.), Bio-Optronics (U.S.), DSG INC (U.S.), ArisGlobal (India), ERT Clinical Bioclinica (U.S.), Oracle Corporation (U.S.), Medidata Solutions (U.S.), DATATRAK International, Inc. (U.S.), and MedNet Solutions, Inc., (U.S.) among others. The market is highly consolidated with top three players accounting for over 55% of the global market share. Market leaders are focusing on new product launches, geographical expansion and acquisitions to strengthen their market position.

For more Insights, Read –

https://www.marketwebjournal.com/the-growing-demand-for-custom-synthesized-oligonucleotides-is-driving-the-oligonucleotide-synthesis-market/

 

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