LOS ANGELES, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The Oligonucleotide Synthesis Market is expected to witness robust growth owing to the rising research activities in synthetic biology and molecular diagnostics, increasing funding for genomics, and growing advancements in deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) synthesis technologies globally.
Oligonucleotide synthesis is the process of creating short strands of DNA or RNA. It is a vital tool in molecular biology and biotechnology, and is used in a variety of applications, including gene cloning, gene therapy, and DNA sequencing. There are two main methods of oligonucleotide synthesis: chemical synthesis and enzymatic synthesis. Chemical synthesis is the most common method, and involves the use of a series of chemical reactions to build the oligonucleotide strand one nucleotide at a time. Enzymatic synthesis is a newer method, and involves the use of enzymes to build the oligonucleotide strand. Oligonucleotide synthesis is a complex and delicate process, and requires a high level of expertise. However, it is a powerful tool that has revolutionized molecular biology and biotechnology.
Oligonucleotide Synthesis Market Statistics and Highlights:
- Oligonucleotide synthesis market size to hit USD 25.3 billion by 2032, expanding from the value of USD 7.4 Billion in the year 2022, progressing at a CAGR of 13.3% over 2023-2032.
- North America captured a dominant revenue share exceeding 37% in 2022.
- By product type, oligonucleotide-based accounted for over 39% share in 2022.
- Increasing genomics research and molecular diagnostic demand are propelling the market growth.
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Oligonucleotide Synthesis Market Report Coverage:
| Market | Oligonucleotide Synthesis Market | |
| Oligonucleotide Synthesis Market Size 2022 | USD 7.4 Billion | |
| Oligonucleotide Synthesis Market Forecast 2032 | USD 25.3 Billion | |
| Oligonucleotide Synthesis Market CAGR During 2023 - 2032 | 13.3% | |
| Oligonucleotide Synthesis Market Analysis Period | 2020 - 2032 | |
| Oligonucleotide Synthesis Market Base Year | 2022 | |
| Oligonucleotide Synthesis Market Forecast Data | 2023 - 2032 | |
| Segments Covered | By Product, By Application, By End User, And By Geography | |
| Oligonucleotide Synthesis Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Thermo Fisher Scientific Inc., Integrated DNA Technologies (IDT), Eurofins Genomics, GenScript Biotech Corporation, LGC Biosearch Technologies, BioAutomation Corporation, Agilent Technologies, TriLinkBioTechnologies, GeneDesign, Inc., Biosearch Technologies, Inc., ATDBio Ltd., and Sigma-Aldrich Corporation | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Analysis of Key Market Dynamics:
The Oligonucleotide Synthesis Market is expected to grow significantly in the coming years, driven by a number of factors. These include the rising demand for genomics research, the growth of molecular diagnostics and synthetic biology fields, and technological advancements in synthesizers that enable large-scale customized oligo production. However, there are some challenges that could limit the market's growth. These include the high initial investment required for oligonucleotide synthesis, as well as limitations related to large-scale oligo synthesis. Despite these challenges, the oligonucleotide synthesis market is expected to grow significantly in the coming years, driven by the factors mentioned above. Strategic partnerships, new product launches, and widening synthesis applications are expected to shape future opportunities in the oligonucleotide synthesis market.
Latest Innovations and Trends:
- Development of high-throughput digital DNA/RNA synthesizers.
- Launch of benchtop synthesizers enabling on-site cost-efficient synthesis.
- Leveraging enzymatic approaches to increase oligo synthesis speed.
- Widening applications within molecular therapeutics and nanostructure assembly.
- Advancements in purification technologies ensuring higher yields.
Major Factors Propelling Oligonucleotide Synthesis Market Growth:
- Rising genomics and biotechnology research involving oligo synthesis.
- Growing molecular diagnostics demand necessitating probe and primer oligos.
- Increased funding for synthetic biology and pharmaceutical R&D.
- Technology advancements in high-throughput synthesizers.
- Rising adoption of personalized medicine approaches boosting custom oligo demand.
Key Challenges Hindering Market Potential:
- High instrument costs associated with automated DNA/RNA synthesizers.
- Limitations related to large-scale, high-output oligo synthesis.
- Constraints in ensuring accuracy, efficiency and scalability.
- Lack of universally accepted technologies for oligonucleotide manufacturing.
- Requirement of skilled personnel for synthesizer handling and maintenance.
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Oligonucleotide Synthesis Market Segmentation:
Based on the Product
- Reagents
- Oligonucleotide-based drugs
- Equipment
- Synthesized oligonucleotides
Based on the Application
- Therapeutics
- Diagnostics
- Research
Based on the End Users
- CROs and CMOs
- Pharmaceutical & biotechnology companies
- Academic research institutes
- Hospitals
- Diagnostic laboratories
Regional Outlook Oligonucleotide Synthesis Market:
North America currently leads the Global Oligonucleotide Synthesis Market, driven by a well-established research base and genomics infrastructure. The Asia Pacific region is expected to exhibit the fastest growth in the market during the forecast period. This growth is being driven by the rising R&D investments in the region. China, Japan, and India are the key countries in the Asia Pacific region that are investing heavily in R&D in the field of genomics. Europe is also a major market for oligonucleotide synthesis. The region is home to a number of leading companies in the field of genomics, such as Thermo Fisher Scientific and Agilent Technologies.
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Leading Companies Offering Oligonucleotide Synthesis Market:
Major players include Thermo Fisher Scientific, Inc., Danaher Corporation, Merck KGaA, LGC Limited, Maravai LifeSciences, Agilent Technologies, BioAutomation, GE Healthcare, Polygen GmbH, and Twist Bioscience, among others.
In summary, driven by rising genomics research and diagnostics, the oligonucleotide synthesis market is primed for robust growth globally through 2032.
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