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Oligonucleotide Synthesis Market to Expand at a Strong 11.2% CAGR from 2017 to 2025
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The research report on the global market for oligonucleotide synthesis notes that the market stood at US$1.65 bn in 2016. Proliferating at a CAGR of 11.20% during the period from 2017 to 2025, the market’s opportunity is anticipated to reach US$4.18 bn by the end of the forecast period. , reports the market study.
In this market study, the global oligonucleotide synthesis market is also analyzed on the basis of the regional distribution of this market. North America, Europe, Asia Pacific, and the Rest of the World have been considered as the key geographical segments of this market in this report. North America emerged the dominant regional market in 2016 with nearly one third share in the global market. This regional market is anticipated to maintain its dominance throughout the forecast period, thanks to significant rise in its pharmaceutical industry. The increasing prevalence of genetic diseases in the region and the consequent demand for newer and advanced drugs is also projected to support the North America market for oligonucleotide synthesis in the years to come.
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Among other regional markets for oligonucleotide synthesis, Europe and Asia Pacific are anticipated to register a steady rise in their valuation over the next few years. The Europe market is expected to gain from the increasing development of newer and sophisticated technologies for the creation of new molecules of oligonucleotides for therapeutic usage while the Asia Pacific market is anticipated to benefit from the presence of a number of small companies offering reagents and consumables for oligonucleotide synthesis, notes the research study.
“In the recent times, the global market for oligonucleotides synthesis has demonstrated a steady growth, owing to the rapid rise in the biotechnology and the life sciences sectors across the world,” says a TMR analyst. Researchers at TMR expect the global market to continue registering high rise over the next few years, thanks to the increasing application of oligonucleotides in the fields of research and diagnosis.
The significant rise in the biotech and the pharmaceutical industries is also projected to support the growth of this market in the years to come, states the research study.
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