Oligonucleotide Synthesis Market is Expected to Reach $19.7 billion | MarketsandMarkets™
Chicago, May 15, 2024 (GLOBE NEWSWIRE) -- *Oligonucleotide Synthesis market* in terms of revenue was estimated to be worth $8.8 billion in 2024 and is poised to reach $19.7 billion by 2029, growing at a CAGR of 17.5% from 2024 to 2029 according to a latest report published by MarketsandMarkets™.
The increased demand for oligonucleotide-based drugs like ASOs and siRNAs to treat various neurological and rare disorders such as Duchenne muscular dystrophy (DMD), spinal muscular atrophy (SMA), and hepatic veno-occlusive disease (VOD) drives market growth.
*Download an Illustrative overview: **https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200829350*
*Oligonucleotide Synthesis** Market** Scope:*
*Report Coverage* *Details*
Market Revenue in 2024 $8.8 billion
Estimated Value by 2029 $19.7 billion
Growth Rate Poised to grow at a CAGR of 17.5%
Market Size Available for 2022–2029
Forecast Period 2024–2029
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Application, End User, and Region
Geographies Covered North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Increasing R&D investments by key players in emerging economies
Key Market Driver Increasing use of synthesized oligos in therapeutic and diagnostic applications
By product, synthesized oligonucleotides held the second-largest share of the oligonucleotide synthesis market in 2023. The demand for synthesized oligos is increasing due to growing applications of oligonucleotides in various therapeutic, research, and diagnostic applications. Oligo-based drugs is a growing market. Moreover, oligonucleotides are used as probes and primers in PCR and qPCR reactions, DNA sequencing, next-generation sequencing (NGS), fluorescent in situ hybridization (FISH), development of nucleic acid-based microarrays for pathogen detection and screening, genetic disorder identification, the study of DNA protein interactions, gene expression, gene cloning, library construction, and mutation analysis.
Based on applications, the oligonucleotide synthesis market is segmented into therapeutic, research, and diagnostic applications. In 2023, the therapeutic applications segment accounted for the fastest-growing segment of the oligonucleotide synthesis market. The increasing applications of oligos as therapeutic agents (such as antisense oligos and siRNA) used in treating neurological and rare disorders are expected to drive market growth. Ongoing research to expand this therapeutic potential of oligo-based drugs to common diseases such as cardiovascular disorders will further boost the oligonucleotide therapeutic market.
By end user, the pharmaceutical & biotechnology companies accounted for the second-largest share of the oligonucleotide synthesis market in 2023. The use of oligonucleotide synthesis products in drug discovery & development and biotech research is attributed to the market growth. Also, pharmaceutical & biotechnology companies are investing in research activities to develop nucleic-based therapies to combat new diseases such as cardiovascular disorders.
The oligonucleotide synthesis market is divided into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa. North America, comprising the US and Canada, is the largest regional segment in the oligonucleotide synthesis market. The large share of the North American market is due to substantial government funding for research and development of oligonucleotide-based therapies, the presence of major players in this market segment, and growing awareness about alternative medicines among the population.
Europe held the second-largest share of the market globally. Growth in the European market can be attributed to factors such as the presence of a large number of academic and research institutes in the region, such as Harvard, growing investments by key market players, and increasing focus on R&D activities.
*Buy an Oligonucleotide Synthesis Industry Report (454 Pages PDF with Insightful Charts, Tables, and Figures): **https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=200829350*
*Prominent Players of Oligonucleotide Synthesis Market*
· Danaher Corporation (US)
· Thermo Fisher Scientific Inc. (US)
· Merck KGaA (Germany)
· Eurofins Scientific (Luxembourg)
· LGC Limited (UK)
· Agilent Technologies, Inc. (US)
· Kaneka Corporation (Japan)
· Maravai Lifesciences holdings, Inc. (US)
· Azenta, Inc. (US)
· Twist Bioscience Corporation (US)
· Genscript Biotech Corporation (US)
· Biogen Inc. (US)
· Alnylam Pharmaceuticals, Inc. (US)
· Sarepta Therapeutics, Inc. (US)
· Astrazeneca (UK)
· Astellas Pharma Inc. (Japan)
· Jazz Pharmaceuticals Plc (Ireland)
· Nippon Shinyaku, Co. Ltd. (Japan)
· Ionis Pharmaceuticals, Inc. (US)
· Novartis AG (Switzerland)
· and Among others
*This report categorizes the oligonucleotide synthesis market into the following segments and subsegments:*
*By Product *
· Oligonucleotide-based Drugs
· Antisense Oligonucleotide-based drug
· siRNA oligonucleotide-based drug
· Other oligonucleotide-based drug
· Synthesized Oligonucleotides
· By Product
· Primers
· Probes
· DNA Oligos
· RNA Oligos
· Other Synthesized Oligos
· By Type
· Customized Oligos
· Predesigned Oligos
· Reagents & Consumables
· Equipment
*By Application*
· Therapeutic Applications
· By Disease Type
· Neurological Disorders
· Rare Diseases
· Other Diseases
· Research Applications
· PCR
· Sequencing
· Other Research Applications
· Diagnostic Applications
*By End User*
· Hospitals
· Pharmaceutical & Biotechnology Companies
· Diagnostic Laboratories
· CROs and CMOs
· Academic Research Institutes
*By Region*
· North America
· US
· Canada
· Europe
· Germany
· UK
· France
· Italy
· Spain
· RoE
· Asia Pacific
· China
· Japan
· India
· Australia
· South Korea
· Rest of Asia Pacific
· Latin America
· Brazil
· Mexico
· Argentina
· Rest of Latin America
· Middle East
· GCC
· Saudi Arabia
· United Arab Emirates
· Rest of GCC
· Rest of the Middle East
· Africa
*Request for FREE Sample Pages: **https://www.marketsandmarkets.com/requestsampleNew.asp?id=200829350*
*Key Market Stakeholders:*
· Pharmaceutical & biotechnology companies
· Hospitals
· Diagnostic laboratories
· Academic researchers and government research organizations
· Private research institutes
· Custom oligonucleotide service providers
· Contract manufacturing organizations (CMOs)
· Oligonucleotide equipment manufacturers
· Contract research organizations (CROs)
· Market research and consulting firms
· Venture capitalists
*Report Objectives:*
· To define, describe, and forecast the global oligonucleotide synthesis market based on the product, application, end user, and region
· To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, challenges, and opportunities)
· To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall oligonucleotide synthesis market
· To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
· To forecast the size of the market segments with respect to six main regions, namely, North America, Europe, Asia Pacific, Latin America, Middle East and Africa
· To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
· To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the oligonucleotide synthesis market.
· To analyze and provide investment and funding activities, brand/product comparative analysis, and; vendor valuation and financial metrics of the oligonucleotide synthesis market.
*Get 10% Free Customization on this Report: **https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=200829350*
*Related Reports:*
Molecular Diagnostics Market
Next Generation Sequencing Market
Synthetic Biology Market
Genomics Market
CRISPR Market
Get access to the latest updates on Oligonucleotide Synthesis Companies and Oligonucleotide Synthesis Industry
CONTACT: About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com