Aptamers are short, single-stranded DNA or RNA molecules that are selected through an in vitro selection process called Systematic Evolution of Ligands by Exponential enrichment (SELEX) to bind to a specific target molecule. They can recognize their targets with high specificity and selectivity, similar to monoclonal antibodies. However, they have several distinct advantages over antibodies such as smaller size, easier production, lower immunogenicity, and longer shelf life at room temperature. Due to these advantages, aptamers are finding wide use in various in vitro diagnostic applications such as pathogen detection, molecular diagnostics, biomarker discovery and disease diagnosis. Common uses include infectious disease testing, cancer biomarkers detection, and coagulation factor monitoring, among others.
The global aptamers market is estimated to be valued at US$ 6265.49 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The high growth of the aptamers market size is majorly attributed to wide use of aptamers in diagnostics. Aptamers are increasingly being used as an alternative to antibodies is various diagnostic applications owing to their advantages such as smaller size, easier production and longer shelf life. For instance, aptamers have potential applications in developing point-of-care testing platforms for pathogen detection and disease diagnosis which is a highly attractive prospect for the diagnostic industry. Expansion of applications is thus expected to propel demand for aptamers over the forecast period. In addition, increasing R&D investments by diagnostic companies and research institutes for developing new aptamer-based diagnostics is also expected to boost market growth during the forecast period. For instance, as per data provided by National Science Foundation, budget allocation for biotechnology R&D increased from US$ 5.8 billion in 2016 to US$ 6.8 billion in 2017 in the U.S. However, high costs associated with aptamer discovery and modifications through SELEX may hinder market growth over the forecast period.
SWOT Analysis
Strength: The aptamers market features strengths such as high specificity and selectivity for target molecules. Aptamers can specifically bind to molecules ranging from small chemical compounds to entire intact cells. They offer excellent stability and are non-immunogenic as compared to antibodies. Moreover, aptamer selection and production is relatively simple and cost-effective.
Weaknesses: The aptamers market faces weaknesses such as challenges in oligonucleotide stability under physiological conditions due to susceptibility to enzymatic degradation. Additionally, modifications are required for aptamers to exhibit sufficient stability for use as therapeutic agents in vivo.
Opportunities: The aptamers market provides opportunities such as potential applications in the development of therapeutics, diagnostics, biosensors, and analytical tools. They show promise as targeting ligands for targeted drug delivery. Moreover, the increasing R&D investment to develop novel aptamers further expands growth opportunities.
Threats: Factors posing threats include stringent regulatory requirements for clinical trials that increase the development cost of aptamer-based drugs. Additionally, the preference for conventional treatment options limits the adoption of aptamer-based therapeutics.
Key Takeaways
The global aptamers market is expected to witness high growth over the forecast period owing to wide applications in diagnostics, therapeutics and other areas. The market size is projected to reach US$ 6265.49 Mn by 2023 from US$ 5423.67 Mn in 2020, at a CAGR of 3.3%.
Regional analysis: North America is currently the dominant region for the aptamers market owing to growing biotechnology and pharmaceutical industries and presence of major players in the region. The Asia Pacific region is expected to exhibit the fastest growth over the forecast period supported by increasing investments in healthcare industries by various countries in the region.
Key players: Key players operating in the aptamers market are ContiTech Australia Pty. Ltd., Endless Belt Service Pty Ltd., Fenner Dunlop Australia Pty Ltd, Flexible Steel Lacing Company (Flexco), Kinder Australia Pty Ltd., Mato GmbH & Co. KG., Minprovise Pty Ltd, Nepean Engineering & Innovation Pty Ltd., Reliable Conveyor Belt Pty. Ltd., Rema Tip Top Australia, Forbo Siegling PTY. Ltd., and others. Companies are focused on new product launches and collaborations with pharmaceutical companies and research institutes to strengthen their market position.
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