Global Oligonucleotide Synthesis Market Size, Share, Trends and Industry Growth Analysis Report to 2028
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The Global Oligonucleotide Synthesis Market is estimated to be worth USD 7338.5 million in 2022 and USD 22584.1 million in 2028, with a CAGR of 17.42% over the projected period. Increasing government funding in synthetic biology and genome projects, as well as a growing demand for oligo products, are some of the primary reasons propelling the Global Oligonucleotide Synthesis Market, according to Zion Market Research.
The impact of Covid-19 on the worldwide oligonucleotide synthesis market has been closely monitored by the Zion research team, and it is believed that demand for oligonucleotide synthesis has increased during the pandemic period. To stem the spread of Covid-19, many nations throughout the world have implemented strict lockdown regulations, which have hampered a variety of economic activities. However, there has been a positive consequence and a surge in demand for a variety of medical services, including oligonucleotide products. Many players in the oligonucleotide synthesis market are stepping forward to support global research activities by providing oligo products for the development of therapies, test kits, and vaccines.
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Report on the Global Oligonucleotide Synthesis Market:
Short RNA or DNA molecules, known as oligonucleotides, are utilised as probes to detect precise sequences that are complementary to the oligonucleotides. In research, genetic testing, and forensics, oligonucleotides have a wide range of applications. The chemical synthesis of moderately tiny nucleic acid fragments with a defined chemical structure is known as oligonucleotide synthesis (sequence). This method provides quick and low-cost access to custom-made oligonucleotides in the desired sequence. Oligonucleotide synthesis is also beneficial for performing molecular diagnosis in a variety of disorders, including the detection of infectious diseases like SARS-COV2, hepatitis, and cancer.
These are commonly used in laboratories for a variety of purposes, including diagnostics, therapeutics, academics, and industry. From early research and screening to target validation and drug manufacturing, these are used. Biological research has been completely transformed by advances in oligonucleotide synthesis, automation, and amplification. It is also feasible to conduct the adjustments and obtain the required sequence online quickly and easily. Alexander Todd’s group pioneered the H-phosphonate and phosphate triester methods to oligonucleotide synthesis in the early 1950s.
Market Trends in Oligonucleotide Synthesis:
One of the primary factors driving the oligonucleotide synthesis industry is the surge in demand for oligo products for the treatment of Covid-19. Covid-19 has caused widespread disruption in healthcare workflows around the world. However, there has been a positive effect and an increase in demand for many medical services that use oligonucleotide products. The oligo products are primarily utilised to improve therapies, diagnostic kits, and vaccinations for new Coronavirus infections. Furthermore, as the number of instances of coronavirus disease rises, new generations of oligonucleotide medications, such as mRNA and DNA vaccines, are being developed. Furthermore, new generations of oligonucleotide medications incorporating mRNA and DNA vaccines are currently being developed in response to the increase in coronavirus disease cases and the need for a potential treatment.
Moreover, governments in a number of nations have made significant investments in programmes related to synthetic biology and genomics. These government investments have made a significant contribution to the expansion of new technologies. Oligos are crucial in these technologies, therefore increased funding and advancements in these domains are also boosting market growth. In January 2020, the Department of Biotechnology (DBT) launched the “Genome India Project.” This project aims to collect 10,000 genetic samples from Indian individuals in order to create a reference genome.
The following are some of the major players in the worldwide Oligonucleotide Synthesis market:
• Alnylam Pharmaceuticals Inc
• Biogen Inc
• Danaher Corporation
• Eurofins Scientific
• Ionis Pharmaceuticals Inc
• Kaneka Corporation
• LGC Limited
• Merck KGAA
• Sarepta Therapeutics Inc
• Thermo Fisher Scientific Inc
Oligonucleotide Synthesis Key Segmentation Analysis:
By product:
● Oligonucleotide-based Drugs
● Synthesized Oligonucleotides
● Reagents
● Equipment
By Applications:
● Therapeutic Applications
● Research Applications
● Diagnostic Applications
Regional Analysis of the Global Oligonucleotide Synthesis Market:
Geographically, North America is estimated to hold the highest share of the worldwide oligonucleotide synthesis market during the forecast period, owing to expanding R&D in life sciences, increased focus on improving healthcare safety and quality, and other factors. The presence of many global players in this region is the most important factor driving this market segment. Many companies, including Danaher Corporation, Thermo Fisher Scientific, Inc., Maravai Life Sciences, and others, are investing heavily in the oligonucleotide synthesis business. Aside from this, a growing number of small and mid-sized businesses are exploiting this market.
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