Oligonucleotide Synthesis Market Size to Surpass USD 44.9 Billion By 2033 | Driven by Increasing Demand for Precision Medicine

The continuous advancements in genetic research and the development of novel therapeutics, such as gene therapies and CRISPR-Cas9 technologies, are driving the demand for oligonucleotide synthesis, as they require precise and tailored DNA/RNA sequences.

New York, Feb. 06, 2024 (GLOBE NEWSWIRE) -- According to Market.us, the Global Oligonucleotide Synthesis market size is forecasted to exceed USD 44.9 Billion by 2033, with a promising CAGR of 17.3% from 2024 to 2033.

The oligonucleotide synthesis market involves the manufacturing and development of oligonucleotides, short DNA or RNA molecules used in various applications such as genetic testing, research, and therapeutic interventions. This market experiences growth driven by increasing demand for custom oligonucleotides in research, diagnostics, and therapeutics. Factors like advancements in synthetic biology, rising applications in precision medicine, and expanding biotechnology and pharmaceutical industries contribute to its expansion. Key players in the market often focus on innovation and strategic collaborations to maintain a competitive edge. The oligonucleotide synthesis market plays a vital role in supporting advancements in genomics and molecular biology.

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Oligonucleotide Synthesis Market Growth

Key Takeaway:

  • Oligonucleotide-based drugs accounted for 38.1% of the market in 2023. This segment experienced growth due to the increased demand for targeted therapies.
  • Pharmaceutical and biotechnology companies contributed significantly, representing 34.6% of the market's revenue in 2023.
  • Therapeutic applications led the market in the previous year and held a 42.2% market share. And is credited to the efficacy of oligonucleotide drugs.
  • North America maintained its leadership position in the market, securing a 40.2% revenue share in 2023.

Factors affecting the growth of the Oligonucleotide Synthesis market:

  • Anticipated revenue growth is expected to be driven by the expansion of oligonucleotide therapies targeting disorders such as cancer and neurological conditions.
  • Due to the heightened number of ongoing clinical trials, the market is expected to grow at a considerable rate.
  • The complex nature of therapeutic oligonucleotides can often affect their efficacy, which ultimately has a negative influence on the growth of the market.
  • The market for oligonucleotide synthesis can greatly benefit from the multitude of opportunities presented by developing nations.

Top Trends in the Global Oligonucleotide Synthesis Market:

  • The rapid adoption of antisense oligonucleotides as anticancer drugs is a notable trend in the field of cancer treatment. Despite challenges such as unclear modes of action and targeted delivery, antisense oligonucleotides are gaining popularity for their potential in combating cancer. Ongoing research into various chemical modifications aims to enhance the properties of these oligonucleotides, with expectations of improved trial outcomes.
  • Additionally, there has been a significant increase in the conductance of various studies utilizing artificial gene synthesis. The surge in genomic research funding, especially post the completion of the Human Genome Project, has encouraged researchers to explore studies using artificial gene synthesis. The growing use of expression analysis, fueled by advancements in companion diagnostic research and modern medicine initiatives, is expected to further drive the demand for oligonucleotide synthesis.

Market Growth:

The oligonucleotide synthesis market is experiencing robust growth, fueled by increasing government investments in genetic research, a surge in demand for custom oligonucleotides, and the adoption of antisense oligonucleotides as promising anticancer drugs. While North America currently dominates with the highest revenue share, emerging economies offer untapped opportunities. The market is driven by the rapid progress in genomic studies, especially in the Asia Pacific region. Despite challenges related to the complexity of therapeutic oligos, the market remains dynamic, marked by strategic collaborations, product line expansions, and technological advancements, contributing to a competitive and expanding oligonucleotide synthesis landscape.

Macroeconomic Factors:

The oligonucleotide synthesis market's macroeconomic factors include increased government funding for genetic research projects, driving innovation and development. Economic indicators such as healthcare spending impact accessibility to oligonucleotide synthesis technologies. The market is influenced by the global surge in genomic research investment, particularly post the completion of the Human Genome Project. Technological advancements and growing applications in metabolomics, genomics, and proteomics contribute to market expansion. Additionally, the oligonucleotide synthesis market is shaped by healthcare infrastructure improvements, rising costs, and ongoing advancements, creating a favorable environment for increased research and development initiatives, fostering economic growth in the biotechnology and pharmaceutical sectors.

Regional Analysis:

In 2023, North America emerged as the leading region, accounting for the highest revenue share at 40.2%, in the oligonucleotide synthesis market. The dominance of North America is attributed to the increasing approval of oligonucleotide-based drugs by the Food and Drug Administration (FDA) and the growing research and development (R&D) activities in the region. The market is expected to witness substantial expansion in North America due to enhanced healthcare infrastructure, escalating utilization of oligonucleotides in pharmaceutical companies, and numerous strategic collaborations among market participants. The region's oligonucleotide synthesis market holds high growth potential, supported by government initiatives and a well-established healthcare system for innovative treatment options.

On the other hand, Asia Pacific is projected as the fastest-growing market during the forecast period. The region's rapid progress in genomic studies, coupled with the increasing adoption of sequencing, array technology, and PCR products, contributes to its growth. Notably, Japasn and China stand out as lucrative markets in Asia Pacific, with significant investments in genomics. The rising number of product launches and approvals further fuels market expansion in the region.

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Oligonucleotide Synthesis Market Regions

Scope of the Report

Report AttributesDetails
Market Value (2023)USD 9.1 Billion
Forecast Revenue 2033USD 44.9 Billion
CAGR (2024 to 2033)17.3%
North America Revenue Share40.2%
Base Year2023
Historic Period2018 to 2022
Forecast Year2024 to 2033

Market Drivers:

One of the key drivers for the oligonucleotide synthesis market is the increased investments from the government in pharmaceutical and biotechnological projects. Oligonucleotide synthesis plays a crucial role in various genetic research endeavors. The heightened demand for custom synthesis of diverse oligonucleotide classes, including antisense, immunostimulatory, miRNA, siRNA, decoys, aptamers, and immunostimulatory oligos, is expected to escalate with the growing government investments in genetic research. Collaborative efforts with pharmaceutical companies are facilitating the expansion of numerous oligonucleotide manufacturers, both established and new, contributing to the overall market growth.

Market Restraints:

Challenges in the effective development of oligonucleotide drugs persist due to insufficient pharmacokinetic characteristics and limited cellular absorption. The utilization of nucleic acid-derived molecules for therapeutic applications remains unresolved, particularly in achieving adequate delivery to tissues beyond the liver. Concerns about toxicology issues associated with chemical alterations persist even post-market approval. Additionally, a shortage of qualified professionals with requisite expertise and research funding in developing nations is expected to constrain progress in the oligonucleotide synthesis market.

Market Opportunities:

Emerging economies are presenting notable opportunities in the oligonucleotide synthesis market. While developed nations, such as the United States and Europe, have historically dominated this market, there is a shift due to increased demand for oligonucleotides and augmented funding for Research and Development (R&D) initiatives. The untapped potential in emerging economies is expected to contribute significantly to market growth. Moreover, the expanding research in metabolomics, genomics, and proteomics, coupled with escalating healthcare costs and continuous advancements in healthcare infrastructure, is poised to create numerous growth avenues in the near future.

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Report Segmentation of the Oligonucleotide Synthesis Market:

Product Insight

In the global oligonucleotide synthesis market, the product segment is categorized into oligonucleotide-based drugs, synthesized oligonucleotides, reagents, and equipment. Notably, the oligonucleotide segment emerged as the dominant category, capturing the largest market share at 38.1% in 2023. This signifies a substantial demand for oligonucleotides, reflecting their pivotal role in various applications such as genetic testing, research, and therapeutic development within the biotechnology and pharmaceutical industries.

End-Use Insight

The oligonucleotide synthesis market is segmented by end-users, including hospitals, pharmaceutical & biotechnology companies, diagnostic laboratories, Contract Research Organizations (CROs), Contract Manufacturing Organizations (CMOs), and academic research institutes. A key driver of market revenue growth is the substantial investments made by major pharmaceutical and biotechnology companies in various Research and Development (R&D) projects. Pharmaceutical & biotechnology companies maintained their stronghold on the market by claiming a revenue share of 33.6%.

Oligonucleotide Synthesis Market Size

Application Insight

The oligonucleotide synthesis market, based on application, is categorized into therapeutic applications, research applications, and diagnostic applications. The therapeutic segment is poised for substantial revenue growth over the forecast period, driven by the potential of oligonucleotide drugs in managing and treating various disorders. Oligonucleotide drugs, with their target selectivity, offer clinically relevant treatments, contributing to the increasing significance of the therapeutic application segment in the market. This underscores the growing importance of oligonucleotides in the development of therapeutic interventions for various medical conditions.

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Recent Development of the Oligonucleotide Synthesis Market:

  • In April 2022, Bachem entered a strategic partnership with Eli Lilly & Company to collaborate on the development and manufacturing of active pharmaceutical ingredients based on oligonucleotides. Bachem is providing Lilly with necessary engineering infrastructure and expertise to implement Lilly's innovative oligonucleotide manufacturing technology, as outlined in the agreement.
  • In July 2022, WuXi STA, a subsidiary of WuXi AppTec, inaugurated a new large-scale oligonucleotide and peptide manufacturing facility at the Changzhou campus. This facility aims to enhance the company's capacity to meet the increasing global demand for the development and production of oligonucleotide and peptide therapeutics.

Market Segmentation:

By Product

  • Oligonucleotide-Based Drugs
  • Synthesized Oligonucleotides
  • Reagents
  • Equipment

By End-User

  • Hospitals
  • Pharmaceutical & Biotechnology Companies
  • Diagnostic Laboratories
  • CROs and CMOs
  • Academic Research Institutes

By Applications

  • Therapeutic Applications
  • Research Applications
  • Diagnostic Applications

By Geography

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Russia
    • Netherland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • New Zealand
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

Competitive Landscape:

The oligonucleotide synthesis market exhibits fragmentation with numerous players employing diverse strategies to maintain a competitive edge. This includes acquiring companies in emerging markets, establishing distribution partnerships, and collaborating on the development of new technologies. The industry's expansion and the continuous development of product lines contribute to overall market growth. The competitive landscape among key players is shaped by these dynamic strategies.

Market Key Players:

  • Thermo Fisher Scientific, Inc.
  • Merck – Co., Inc.
  • GE Healthcare Dharmacon Inc.
  • Agilent Technologies
  • Bio-synthesis
  • Kaneka Eurogentec S.A.
  • Integrated DNA Technologies, Inc.
  • BioAutomation
  • LGC Biosearch Technologies
  • Other Key Players

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