Oligonucleotide Synthesis Market To Reach USD 8.2 billion by 2024 - Current and Future Perspectives, Size, Share, Developments

This report aims to provide detailed insights into the Oligonucleotide Synthesis Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Key Factors Driving Market Growth:

The factors supporting DNA synthesis market growth include the increasing R&D expenditure by pharmaceutical and biotechnology companies, rising demand for synthesized oligos in molecular diagnostics & therapeutics, rising venture capital investments, and the increasing demand for synthetic genes.

Revenue Growth Analysis:

The global Oligonucleotide Market is projected to reach USD 8.2 billion by 2024 from USD 4.3 billion in 2019, at a CAGR of 13.7% during the forecast period.

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Therapeutic applications segment to grow at the highest CAGR during the forecast period

Based on application, the Oligonucleotide Synthesis Industry is segmented into research, diagnostic, and therapeutic applications. The therapeutic applications segment, which is further segmented into DNA & antisense oligonucleotide-based therapies, RNAi oligonucleotide-based therapies, and CpG oligonucleotide-based therapies, is estimated to witness the highest growth during the forecast period. This can primarily be attributed to the investments by companies to explore the therapeutic applications of oligos. Also, from 2016 to 2018, more than five oligonucleotide-based therapies were approved by the FDA. In 2018, these oligonucleotide-based drugs generated a revenue of ~USD 2 billion. Apart from this, there are a couple of oligonucleotide-based drugs in Phase III and FDA review, and these drugs might be launched in the next five years and may positively impact DNA synthesis market.

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Hospitals accounted for the largest share of the Oligonucleotide Synthesis Market, by end user, in 2018

Based on end user, the DNA Synthesis Industry is segmented into academic research institutes, diagnostic laboratories, pharmaceutical & biotechnology companies, and hospitals. Hospitals accounted for the largest share of the DNA Synthesis Market in 2018. Growth in this end-user segment is largely driven by the significant number of inpatient and outpatient visits in hospitals and the high requirement of oligonucleotide drugs to cater to the demand from the vast patient pool suffering from diseases such as Duchenne muscular dystrophy, spinal muscular atrophy, and hepatic veno-occlusive disease.

North America was the largest regional market for oligonucleotide synthesis in 2018

The Oligonucleotide Synthesis Market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the DNA Synthesis Market majorly due to the availability of funds for research from various public- and private-sector organizations in the region and the focus of various prominent players on strengthening their presence in North America through product launches and strategic acquisitions and collaborations & agreements. Europe was the second-largest regional market for oligonucleotide synthesis in 2018. This can be attributed to factors such as the presence of a large number of academic and research institutes in the region, growing investments by government bodies and market players, and the increasing focus on R&D activities.

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The prominent players in the Oligonucleotide Synthesis Market include Agilent Technologies, Inc. (US), ATDBio Ltd. (UK), Bio-Synthesis, Inc. (US), BioAutomation Corporation (US), LGC Biosearch Technologies (US), Eurofins Genomics (Germany), Eurogentec (Belgium), GeneDesign, Inc. (Japan), GE Healthcare (US), GenScript, Inc. (US), Integrated DNA Technologies (IDT, US), Nitto Denko Avecia, Inc. (US), Sarepta Therapeutics (US), Thermo Fisher Scientific, Inc. (US), TriLink BioTechnologies (US), and Sigma-Aldrich Corporation (US) (a part of Merck KGAA).

Sigma-Aldrich Corporation (US) was one of the leading players in the oligonucleotide synthesis market in 2018. The company is innovation-centric and focuses on R&D to develop and introduce new enhanced products in the DNA synthesis market. It is a leading supplier of custom DNA and RNA oligonucleotides for the life sciences research community in North America.