Oligonucleotide Synthesis Market by Product (Primer, Probe, Linker, Adaptor, Custom, Reagent, Equipment), Application (PCR, DNA, RNAi, Research, Therapeutic), End User (Academic, Pharmaceutical, Biotechnology) - Global Forecast to 2024
Global oligonucleotide synthesis market is expected to reach $2.9 billion by 2024, at a CAGR of 10.5% during the forecast period of 2019 to 2024.
The growth in oligonucleotide synthesis market is mainly attributed to growing adoption of synthesized oligonucleotides in diagnostics and clinical applications, rising R&D expenditure and government investment in pharmaceutical and biotechnology companies, plummeting cost of sequencing, increasing public-private spending on genomics, and rising venture capital investments/funding. However, factors such as lack of regulations for commercialization of therapeutic oligos, and price erosion of synthesized oligonucleotides are likely to hinder the market growth. Moreover, emerging Asian markets are likely to provide significant growth opportunities. Also, large-scale synthesis of oligonucleotides, and delivery of oligonucleotide drugs to specific targets are the major challenges for this market.
This study provides a detailed analysis of oligonucleotide synthesis market with respect to various segments on the basis of product, application, end user, and geography. On the basis of product, the global oligonucleotide synthesis market is mainly segmented into synthesized oligonucleotide, reagents, and equipment. The synthesized oligonucleotide segment is further categorized by product, and by type. The synthesized oligonucleotide held the largest share of the global oligonucleotide synthesis market in 2018. The large share of this segment is mainly attributed to the increased adoption and application of synthesized oligonucleotides in research, diagnostics, and therapeutics.
Based on type of application, the global oligonucleotide synthesis market is segmented into three applications: research, diagnostic, and therapeutic. The research application accounted for the largest share of this market in 2018. The major share of research application is mainly attributed to the rising adoption of oligonucleotides in drug discovery & development with the recent development in the gene synthesis and next generation sequencing areas. The large number of oligos are commonly used into various technologies such as PCR, qPCR/RTqPCR, gene synthesis, sequencing, and SNP analysis. However, the diagnostics sector is projected to register the fastest growth during the analysis period owing to the advances in terms of detection methods, particularly with respect to qPCR and sequencing techniques.
Geographically, the global oligonucleotide synthesis market is segmented into five major regions, namely, North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America accounted for the major share of the global oligonucleotide synthesis market in 2018, followed by Europe and Asia-Pacific region. The dominating position of North America in the global oligonucleotide synthesis market is mainly attributed to substantial growth in R&D investment; better accessibility & higher adoption of technically advanced products; and the presence of significantly improved infrastructure in biotechnology sector.
The key players operating in the global oligonucleotide synthesis market are Danaher Corporation (U.S.), Merck KGaA (Germany), Eurofins Scientific SE (Europe), Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies (U.S.), GE Healthcare (U.S.), GeneDesign, Inc. (Japan), Kaneka Eurogentec S.A. (Belgium), LGC Biosearch Technologies (U.S.), Bio-synthesis Inc. (U.S.), TriLink BioTechnologies, LLC (U.S.), and ATD Bio Ltd. (U.K.).
Scope of the Report:
Market by Product
Intermediate-Scale Synthesis Oligonucleotides
Large-Scale Synthesis Oligonucleotides
Linkers & Adaptors
Market by Application
Other Research Applications
Nucleic Acid Aptamers
Market by End User
Academic Research Institutes
Pharmaceutical And Biotechnology Companies
Market by Geography
Rest of Europe (RoE)
Rest of APAC (RoAPAC)
Rest of World
Middle East & Africa
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