San Francisco, 30 November 2023: The Report Oligonucleotide Synthesis Market Size, Share & Trends Analysis Report By Product (Column-based, Array-based, Services), By Application (PCR Primer, FISH), By End-user, By Region, And Segment Forecasts, 2023 - 2030

The global oligonucleotide synthesis market size is expected to reach USD 8.83 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.22% from 2023 to 2030. The increasing usage of oligonucleotide synthesis in several field such as human health management, molecular diagnostics, and therapeutics have boosted the demand for this product thereby contributing to the market’s revenue growth.

Oligonucleotides are most widely used as PCR primers. Rapid integration of PCR in most molecular biology techniques resulted in large-scale use and higher penetration since the introduction of PCR. This can be attributed to the large revenue share of oligonucleotide synthesis for production of PCR primers. PCR primers are short and a small-scale synthesis is sufficient for a large number of reactions.The large-scale synthesis is used in structural experiments or therapeutic applications such as anti-sense therapeutics and gene therapy. Limited success in clinical trials for oligonucleotide therapeutics and gene therapy restricts the growth of antisense oligonucleotide.

Rising prevalence of chronic diseases such as various types of cancers, neurodegenerative diseases, and cardiovascular conditions has increased the need for novel therapeutics and target drugs. Major drug discovery and pharmaceutical manufacturing companies have significantly increased their investments in R&D. However, the high cost associated with drug discovery processes and prolonged-time required is a major concern for most developers.

Furthermore, the demand for alternative tools and technologies that accelerate processing steps, eliminate errors, and meet standard regulatory conditions has increased. Oligonucleotides are found to be more effective than conventional small molecules. They are more preferred by pharmaceutical and biotechnology companies due to their low development costs and rational drug design. Thus, a year-over-year increase in investment in drug discovery and pharmaceutical R&D coupled with the adoption of oligonucleotide as therapeutics is anticipated to drive the market.

Furthermore, the increasing demand for cancer-related therapies that could detect the presence of malignant cell has further impacted the market positively. Moreover, this has resulted in an increase in investments aiding to explore the potential application of custom oligonucleotide synthesis in cancer research.

The decreasing prices of sequencing have led to increasing demand for custom-made nucleotides for a preferred sequencing across genetic testing, research, forensics applications, and drug development. This has further boosted the demand for oligonucleotide synthesis. The COVID-19 pandemic has affected every market globally and there has been a surge in the demand for efficient treatment against COVID-19. Healthcare providers and pharmaceutical companies are working on discovering the potential usage of oligonucleotides to contain the spread of virus. For instance, the Innovative Genomics Institute stated that they are working towards the development of new treatments for patients suffering from COVID-19 with acute respiratory symptoms by using antisense oligonucleotide therapeutics.

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Oligonucleotide therapeutics holds immense potential for treatment of chronic conditions such as cancers, cardiovascular diseases, and retinal disorders. Emerging novel applications of oligo sequences in various fields of biotechnology are anticipated to boost market growth. Demand for molecular diagnostics in precision care is one of the significant emerging fields of application for oligonucleotide synthesis.

Oligonucleotide Synthesis Market Report Highlights

• By product type, the reagents segment is anticipated to witness significant growth in the coming years as reagents have recurring demand and usage in the oligonucleotide synthesis process. A number of reagents are required for different steps involved in the synthesis
• The PCR primers application segment captured the largest market share in 2022 owing to its potential usage in fluorescent detection and target identification with higher penetration of products in this segment
• By end user, the academic research institutes segment dominated the market in 2022 owing to significant genomic research being conducted by universities and academic research institutes either in collaboration with private investors or with government support
• North America dominated the global market in 2022, owing to huge investments in genetic research and development field and effective regulatory policies encouraging the adoption of oligonucleotide synthesis for gene-based research in the region
• The Asia Pacific is expected to grow at a significant pace in the future owing to increasing awareness among people of this region and increasing number of key market players

Introduction of advanced techniques such as CRISPR and high-throughput sequencing for gene expression analysis has simplified the genetic screening and modification of genomes. Such innovations are observed to influence the demand for oligonucleotide synthesis. Manufacturers invest in development of technology to enable production of long Oligonucleotide with higher precision and better yield to cater the growing need for custom oligos.

Availability of regulatory environment that supports the progress of genomics is the key factor contributing to the large revenue share of North America. Local presence of key players with a well-established distribution network across the region further strengthens the oligonucleotide synthesis market.

Oligonucleotide Synthesis Market Report Scope

The services segment held the highest market share of 30% in 2022 and is expected to witness the highest growth during the forecast period. Certain factors such as growing use of molecular diagnostic tests coupled with the higher adoption of oligonucleotide therapeutics are expected to contribute to market growth. Moreover, key players are also involved in broadening their offerings by entering new markets or by the acquisition of service providers in different countries.

Furthermore, the oligonucleotide segment is anticipated to project considerable growth in the coming years. With the increase in the number of genomic studies being carried out, such as gene expression analysis and genetic testing, can be attributed to a substantial revenue share. In addition, the introduction of biochips (DNA chips) for parallel analysis of a large number of clinical samples is anticipated to contribute considerably to the markets’ revenue. With growing usage of antisense oligonucleotide in clinical trials for various conditions such as cancer, cardiac disorders, and ocular dysfunctions, the segment is anticipated to witness lucrative growth in the near future. Increasing use of technologies such as PCR, sequencing, and DNA microarrays for genetic testing and biological sample analysis further boosts the revenue growth.

List of Key Players of Oligonucleotide Synthesis Market

• Thermo Fisher Scientific, Inc.
• Merck & Co., Inc.
• GE Healthcare
• Dharmacon Inc.
• Agilent Technologies
• Bio-synthesis
• Kaneka Eurogentec S.A
• Integrated DNA Technologies, Inc.
• BioAutomation
• Biolegio
• Twist Bioscience