The global oligonucleotide synthesis market is expected to be valued at USD 9.91 billion by 2027 from USD 3.98billion in 2019, registering a CAGR of 12.8% through the forecast period according to the latest report by Emergen Research. A rising appetite for advanced therapeutic procedures is the driving force for the exponential growth of global demand for oligonucleotide synthesis. In addition, growing research activities in the pharmaceutical and biotechnology sectors are expected to further drive market growth. Growing applications of synthesised oligonucleotides are also likely to increase the growth of the market over the projected timeframe.
In the forecast period, the absence of uniform regulations for the safe use of synthesised oligonucleotides is expected to restrain market development.
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Key Highlights From Report
- In May 2020, the leading producer of integrated genomics solutions, Integrated DNA Technologies, announced the opening of a new production facility in the Research Triangle Park of North Carolina. The plant expands IDT’s manufacturing potential and will have industry-leading turnaround times for its product line for the eastern portion of the United States. In response to the COVID-19 outbreak, Integrated DNA Technologies also designed the North Carolina plant for the first production of products to assist the activities of its clients related to the study and testing of COVID-19.
- The research sub-segment is projected to dominate the market with a CAGR of 13.0% in the forecast period. The rise in the number of genome research projects carried out by academic research institutes has encouraged the dominance of this segment.
- The hospital sub-segment is projected to hold the largest market share in the coming years. Combined with the rising demand for oligonucleotide medicines, the high number of inpatient and outpatient hospitalizations is driving market growth to meet the needs of the large number of people suffering from chronic diseases.
- North America is expected to be the largest market over the forecast timeframe, largely due to growing research & development activities and the number of food and drug administration approved oligos-based diagnoses and treatments.
- Key participants include GeneDesign, Inc., Sarepta Therapeutics, Inc., Thermo Fisher Scientific, Inc., Bio-Synthesis, Inc., Agilent Technologies, Inc., Biogen Idec International GmbH, Nitto Denko Avecia, Inc., ATDBio Ltd, Integrated DNA Technologies, Inc., and GenScript, Inc. among others.
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Emergen Research has segmented the Global Oligonucleotide Synthesis Market on the basis of product, application, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Synthesized Oligonucleotides
- Application Outlook (Revenue, USD Billion; 2017-2027)
- End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East &Africa
- Saudi Arabia
- Rest of MEA
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