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Global Oligonucleotide Synthesis Market Growth Accelerated by Increasing Demand from R&D Application

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Global Oligonucleotide Synthesis Market Growth Accelerated by Increasing Demand from R&D Application

Oligonucleotide synthesis involves chemical bonding between nucleotides that allows construction of desired DNA or RNA polymers needed for various research and medical applications. Rapid customization and cost-effective production has increased the adoption of oligonucleotides in research areas such as genetic testing, molecular diagnostics, gene therapy and forensic application.

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, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing demand for oligonucleotides from research and development applications is the major factor driving the growth of Oligonucleotide Synthesis Market. Growing research activities in areas of gene therapy, genetic testing and precision medicine has fueled the demand for tailored oligonucleotides. According to International Federation of Pharmaceutical Manufacturers & Associations, the Global pharmaceutical R&D spending grew at a compound annual growth rate (CAGR) of 5.2% during 2005 to 2018 reaching US$ 179 billion in 2018. This increasing investment in pharmaceutical R&D is expected to boost the Oligonucleotide Synthesis Market during the forecast period.

Segment Analysis

The Global Oligonucleotide Synthesis Market is dominated by DNA Oligonucleotides which account for around 70% market share. DNA oligonucleotides are short sequences of nucleic acid polymers that are synthesized in the laboratory and have wide application in areas like polymerase chain reaction (PCR), DNA sequencing, molecular cloning and site-directed mutagenesis. Their high demand is due to ability to synthesize long DNA sequences of unknown origin which has accelerated various molecular biology experiments.

Key Takeaways

Global Oligonucleotide Synthesis Market Size is expected to witness high growth over the forecast period of 2023-2030 supported by increasing focus on precision medicine and disease diagnostics. 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.

The North America region currently dominates the Global market and is expected to continue its dominance during the forecast period due to presence of leading research institutes and pharmaceutical companies in the US and Canada which are engaged in research activities utilizing oligonucleotides.

Key players related content comprises Key players operating in the Oligonucleotide Synthesis Market are Finish Line, White Lightning, Tri-Flow, Pedro's, Park Tool, Muc-Off, Shimano, WD-40 Bike, Motorex, Rock N Roll, Maxima, Boeshield, Squirt, Morgan Blue, Mazola, Castrol, Weldtite, Phil Wood, ProGold.

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