by Oligonucleotides are short nucleic acid polymers that are widely used in areas such as research, diagnostic, and therapeutics. In research activities, oligonucleotides serve as probes for hybridization experiments and as molecular biology tools for cloning and sequencing. In diagnostic applications, they are employed as primers in Polymerase Chain Reaction (PCR) for detection of pathogens, infectious diseases, genetic disorders, and various prenatal screening tests. Therapeutically, oligonucleotides can also be administered as antisense drugs for gene knockdown or as aptamers for inhibition of target proteins in conditions such as cancer, asthma, diabetes, and so on. The growing applications of oligonucleotides in various fields of science and medicine have raised the demand for rapid oligonucleotide synthesis capabilities.
Global Oligonucleotide Synthesis Market Size is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the global oligonucleotide synthesis market is the advancements in technologies used for oligonucleotide production. Traditionally, oligonucleotides were synthesized step-by-step in a linear manner. However, advancements have led to the development of methods such as phosphoramidite chemistry which enables parallel synthesis capabilities. This has significantly increased the speed of oligonucleotide production. As the demand for oligonucleotides continues to grow across various applications, development of novel technologies that can synthesize longer oligonucleotides accurately at a faster rate remain important for market players.
Porter’s Analysis
Threat of new entrants: Low cost of entry in the market attracts new players, however requirement of high capital investments for setting up oligonucleotide manufacturing facilities limits the threat.
Bargaining power of buyers: Large pharmaceutical and biotechnology companies have significant bargaining power due to their high demand and strong research capabilities.
Bargaining power of suppliers: Few biotechnology companies specialized in manufacturing high quality oligonucleotides holds strong position in the market.
Threat of new substitutes: No direct substitutes are available for oligonucleotides used in DNA sequencing, therapeutic development and diagnostics.
Competitive rivalry: Presence of large global players intensifies the competition.
Key Takeaways
Global Oligonucleotide Synthesis Market Size is expected to witness high growth. The global Oligonucleotide Synthesis Market is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
Regional analysis North America accounts for the largest share in the oligonucleotide synthesis market owing to huge investments in R&D by pharmaceutical and life science companies in the region. Europe and Asia Pacific are expected to grow at a high rate during the forecast period with increasing focus on personalized medicine in major countries.
Key players Major players in the oligonucleotide synthesis market include Integrated DNA Technologies, Inc., Eurikon srl, ATD Bio Ltd, Thermo Fisher Scientific, Inc., LGC Biosearch Technologies, Eurofins Genomics, Agilent Technologies, Inc., Gene Design, Inc., Bio-Synthesis, Inc., and BioAutomation Corporation. Key players focus on developing novel oligonucleotides for drug discovery and molecular diagnostics.
