The global Oligonucleotide Synthesis Market is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Oligonucleotide synthesis is the chemical synthesis of relatively short strands of nucleic acids with defined chemical structures. Oligonucleotides are employed as tools for researching molecular genetics and function. They are used as probes to detect specific DNA and RNA sequences, primers in polymerase chain reaction (PCR), antisense oligonucleotides to inhibit gene expression, and oligonucleotide-based therapeutics. Oligonucleotides are widely adopted for gene sequencing, genetic testing, and molecular diagnostics. They enable the identification of genetic variations associated with health conditions and targeted disease treatment. Some key advantages include high specificity and affinity to the complementary sequence and ability to regulate gene expression at the level of transcription and translation.
Market key trends:
One of the major trends in the oligonucleotide synthesis market is the increasing demand for custom oligos. With advancements in DNA synthesis technologies, especially automated oligo synthesis, researchers and scientists are able to design and order customized DNA and RNA sequences as per their application requirements. This has led to a rise in demand for oligonucleotides in various fields such as genetic engineering, drug discovery, personalized medicine, and developmental biology. Another trend gaining traction is the use of oligonucleotides as therapeutic agents. Antisense oligonucleotides and siRNA are emerging as potential drug molecules for treating various genetic disorders and cancers. Significant research efforts are ongoing to develop oligonucleotide-based therapies for conditions with high unmet needs such as neurodegenerative diseases.
Porter's Analysis
Threat of new entrants: Low capital requirements along with established customers loyalty make it challenging for new players to enter the market.
Bargaining power of buyers: Buyers have high bargaining power due to presence of several established players offering substitutable products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials.
Threat of new substitutes: Moderate threat from gene editing tools that can potentially replace oligonucleotides.
Competitive rivalry: Intense competition among existing players.
Key Takeaways
The Global Oligonucleotide Synthesis Market Demand is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing demand for personalized medicine.
Regional analysis
North America dominates the oligonucleotide synthesis market and is expected to continue its dominance during the forecast period. High funding for research activities and presence of key players in the region drives the market. Asia Pacific exhibits fastest growth in the market, driven by rising life science research in countries like China and India.
Key players
Key players operating in the oligonucleotide synthesis market are Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies€TM, 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.
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