Press release
Oligonucleotide Synthesis Market Overview, Size, Share, Growth Drivers and Forecast Report 2023
The market is mainly driven by advancements in oligonucleotide synthesis technologies, favorable government regulations, growing research activities in synthetic biology, and rising prevalence of cancer and infectious diseases.
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Based on offering, the oligonucleotide synthesis market is classified into synthesized oligonucleotides, reagents and consumables, and equipment. During the historical period, synthesized oligonucleotides held the largest share in the market, accounting for 76.3% in 2017.
Based on application, the oligonucleotide synthesis market is categorized into research, diagnostics, and therapeutics. Of these, the fastest growth in the market during the forecast period is expected from research applications, with a CAGR of 11.1%.
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Geographically, North America held the largest share in oligonucleotide synthesis, with 39.1% contribution in 2017. This can be attributed to technological advancements, favorable government regulations, and high incidence of infectious diseases in the region.
In order to increase their market share, key players of the oligonucleotide synthesis industry are seeking partnerships and acquisitions. For instance, in May 2018, LGC Biosearch Technologies Inc. (LGC) acquired BioAutomation Corporation (BioAutomation), a manufacturer of MerMade oligo synthesis instruments. The acquisition followed LGC’s acquisitions of Biosearch, Prime Synthesis, and LINK Technologies, and is expected to further drive the company’s growth in the oligonucleotide reagent and synthesized oligonucleotide markets.
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In March 2018, Thermo Fisher Scientific Inc. (Thermo Fisher), acquired IntegenX Inc., a provider of rapid DNA platforms for use in forensics and law enforcement applications. IntegenX products have significantly enhanced Thermo Fisher's existing human identification (HID) portfolio and complemented its leading human identification chemistries, and qPCR and capillary electrophoresis systems.
Some of the other key players operating in the oligonucleotide synthesis industry are General Electric Company, Merck KGaA, Eurofins Scientific SE, Integrated DNA Technologies Inc., GeneDesign Inc., Trilink Biotechnologies LLC, Nitto Denko Avecia Inc., and Kaneka Eurogentec S.A.
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