Global Oligonucleotide Synthesis Market to Grow at 11.1% During 2024-2032, Impelled by the Increasing COVID-19 Cases

According to the latest report by IMARC Group, titled “Oligonucleotide Synthesis Market Report by Product (Synthesized Oligonucleotide Products, Reagents, Equipment, Services), Application (PCR Primers, PCR Assays and Panels, Sequencing, DNA Microarrays, Fluorescence In-Situ Hybridization (FISH), Antisense Oligonucleotides, and Others), End Use (Pharmaceutical and Biotechnology Companies, Hospital and Diagnostic Laboratories, Academic Research Institutes), and Region 2024-2032,” the global oligonucleotide synthesis market reached a value of US$ 3.0 Billion in 2023. Oligonucleotide synthesis is the chemical amalgam of short fragments of the nucleic acids produced through enzymatic chemistry and genetic engineering. The technique is beneficial in current laboratories for diagnostics, academic, industrial, and therapeutic applications. Oligonucleotide synthesis provides rapid and inexpensive access to custom-made oligonucleotides for various end users through Deoxyribonucleic acid (DNA) synthesizers for self-consumption. It is used to develop primers and probes in recombinant DNA technologies to develop monoclonal antibodies. Oligonucleotide synthesis is also utilized in biological, medical, forensic, and clinical applications for gene expression, cloning, molecular diagnostics, and genetic disease screening.

Global Oligonucleotide Synthesis Market Trends:

The rapid outbreak of coronavirus disease (COVID-19) and an imminent need for a potential treatment represent one of the key factors driving the market growth. This is further facilitated by the ongoing development efforts of mRNA and DNA vaccines as a cure to the disease. The market is also driven by the increasing requirement to develop novel diagnostic techniques and effective therapies to treat chronic ailments. The rising geriatric population and the demand for personalized medicines are acting as another major growth-inducing factor. In addition to this, advances in purification and quality control technologies are enabling a significant reduction in the overall cost of oligonucleotide techniques while substantially increasing the quality and yield. This, in turn, is promoting the application of oligonucleotide synthesis in a range of available modifications, which is creating a positive outlook for the market. Other factors, such as extensive research and development (R&D) activities and the introduction of various oligonucleotide-based therapies to treat viral infections, rare genetic disorders, and neuromuscular conditions, are contributing to the market growth. Looking forward, the market is expected to grow at a CAGR of 11.1% during 2024-2032.

Market Summary:

• On the basis of the product, the market has been divided into synthesized oligonucleotide products, reagents, equipment and services.
• Based on end use, the market has been classified into pharmaceutical and biotechnology companies, hospital and diagnostic laboratories and academic research institutes.
• Based on the application, the market has been classified into PCR primers, PCR assays and panels, sequencing, DNA microarrays, Fluorescence in-situ hybridization (FISH), antisense oligonucleotides and others.
• On a regional basis, the market has been spread across North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
• The competitive landscape of the market has also been examined, with some of the key players being Agilent Technologies Inc., Biolegio B.V., Bio-Synthesis Inc, Eurofins Genomics, GenScript, Horizon Discovery Ltd, Integrated DNA Technologies Inc (Danaher Corporation), Kaneka Eurogentec S.A. (Kaneka Corporation), LGC Limited, Nitto Denko Avecia Inc (Nitto Denko Corporation) and Thermo Fisher Scientific Inc.
   

Report Coverage:

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