The global Oligonucleotide Synthesis Market is estimated to be valued at US$ 2,874.1 Mn in 2020 and is expected to exhibit a CAGR of 11.3% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Oligonucleotide synthesis is the chemical synthesis of relatively short fragments of nucleic acids, typically DNA or RNA, with defined chemical structures. These synthetic oligonucleotides have various applications in the fields of genetic analysis, molecular biology research, pharmaceutical development, and diagnostics. They are widely used in techniques such as PCR, DNA sequencing, gene synthesis, and gene editing. Oligonucleotide synthesis provides several advantages, including high efficiency, cost-effectiveness, and specificity in nucleic acid research and applications.
B) Market Key Trends:
One key trend influencing the global oligonucleotide synthesis market is the advancements in technology. The field of oligonucleotide synthesis has witnessed rapid advancements in recent years. Automation and higher-throughput systems have enabled the synthesis of larger quantities of oligonucleotides at a faster pace. Additionally, new technologies such as microarray-based synthesis and next-generation sequencing have revolutionized the field by enabling high-throughput synthesis and analysis of oligonucleotides. These technological advancements have significantly contributed to the growth and expansion of the oligonucleotide synthesis market.
For example, Twist Bioscience, one of the key players in the market, utilizes silicon-based DNA synthesis technology for high-throughput production of oligonucleotides. This technology enables the parallel synthesis of thousands of oligonucleotides in a cost-effective and efficient manner.
C) PEST Analysis:
– Political: Oligonucleotide synthesis is influenced by government regulations related to the use and handling of nucleic acids, as well as intellectual property rights and patent laws.
– Economic: The increasing demand for oligonucleotide synthesis products and services in various fields such as pharmaceuticals, research, and diagnostics is driving the growth of the market. Economic factors such as investments in research and development and healthcare expenditure also impact the market.
– Social: The growing awareness and understanding of genetic diseases, personalized medicine, and precision agriculture are driving the demand for oligonucleotide synthesis products. The increasing adoption of genetic testing and gene-based therapies is also contributing to market growth.
– Technological: Technological advancements in the field of oligonucleotide synthesis, such as automation, high-throughput systems, and next-generation sequencing, are driving market growth. Oligonucleotide synthesis technologies are evolving to meet the increasing demand for higher quality, purity, and scale.
D) Key Takeaways:
– The global Oligonucleotide Synthesis Market is expected to witness high growth, exhibiting a CAGR of 11.3% over the forecast period. This growth can be attributed to increasing applications of oligonucleotides in genetic analysis, molecular biology research, pharmaceutical development, and diagnostics. Additionally, advancements in technology, such as automation and high-throughput systems, are driving market growth.
– North America is the fastest-growing and dominating region in the global oligonucleotide synthesis market. This can be attributed to factors such as the presence of major players in the region, significant investments in research and development, and the high adoption rate of advanced technologies.
– Key players operating in the global oligonucleotide synthesis market include Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies’, Inc, BioAutomation Corporation, Twist Bioscience, Shanghai SynTheAll Pharmaceutical Co., CUSABIO Technology LLC, Synbio Technologies, GENEWIZ, Eurofins Scientific, Agilent Technologies, Kaneka Eurogentec S.A., and LGC, Biosearch Technologies. These players are focused on strategic initiatives such as collaborations, acquisitions, and product launches to strengthen their market position and expand their product offerings.
In conclusion, the global oligonucleotide synthesis market is expected to witness significant growth due to technological advancements, increasing applications in various fields, and the presence of key players driving innovation in the market. As the demand for genetic analysis and molecular biology research continues to grow, the market is poised for further expansion in the coming years.