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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