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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.
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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.
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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 Product
By Application
- Therapeutic Applications
- By Disease Type
- Neurological Disorders
- Rare Diseases
- Other Diseases
- By Disease Type
- 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
- GCC
- Africa
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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.
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