Oligonucleotide Synthesis Market is projected to reach USD 16.7 billion by 2027 from USD 7.7 billion in 2022, at a CAGR of 16.8% during the forecast period according to a new report by MarketsandMarkets™. One of the key factors driving the market growth is the emerging field of personalized genome sequencing, which helps determine the best approach for patient care, whether preventive, diagnostic, or therapeutic. The incorporation of synthesized oligonucleotides to treat various diseases also supports market growth.
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Probes accounted for the second-largest segment of the synthesized oligos product segment in 2021.
Probes are an important subsegment in the market for synthesized oligonucleotides. The segment accounted for the second-largest market share due to their important applications in detecting specific nucleic acid sequences and changes occurring in them. Oligos are used as probes in microarrays, in situ hybridization, antisense analyses, and drug carriers.
Hospitals accounted for the largest share of the end-user segment in the Oligonucleotide Synthesis Market in 2021
By end user, hospitals accounted for the largest share of the Oligonucleotide Synthesis Market in 2021. Growth in this market is largely driven by the significant number of inpatient & outpatient visits in hospitals and the high requirement for oligonucleotide drugs to cater to the growing demand of patients suffering from rare diseases, neurological disorders, and infectious diseases.
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The PCR subsegment accounted for the largest share of the research applications segment in the Oligonucleotide Synthesis Market in 2021.
In 2021, PCR accounted for the largest share of the research application subsegment of the Oligonucleotide Synthesis Market. PCR technologies such as qPCR are highly sensitive and cost-effective, driving end-user demand. These PCR applications utilize sequence-specific primers, thus boosting the market for oligos (which are used as probes and primers) in the PCR market.
Asia Pacific to register the highest CAGR in the Oligonucleotide Synthesis Market
The Asia Pacific region is expected to show the highest CAGR of the Oligonucleotide Synthesis Market. The growth in research outsourcing to emerging countries by pharmaceutical & biotechnology giants, increasing application of genomics in biotechnology & pharmaceutical research, and growing public & private sector investments in genomics and related technologies are expected to aid market growth in the APAC. The growth of the Oligonucleotide Synthesis Market in this region is also fueled by the growing number of domestic drug discovery research projects.
Some leading players operating in the Oligonucleotide Synthesis Market are Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), LGC Limited (UK), Maravai Life Sciences (US), and Agilent Technologies, Inc. (US).
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