Oligonucleotide Synthesis market Growth, Size, Opportunity, Share and Forecast 2020-2027

According to The Insight Partners market research study titled 'Oligonucleotide Synthesis market - Global Analysis and Forecasts by Product, Application and End User. The global oligonucleotide synthesis market is expected to reach US$ 3,971.7 Mn in 2027 from US$ 1,584.2 Mn in 2018. The market is estimated to grow with a CAGR of 11.1% from 2019-2027. The report highlights the trends prevalent in the global oligonucleotide synthesis market and the factors driving the market along with those that act as deterrents to its growth.
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The oligonucleotide synthesis market by product is segmented into synthesized oligonucleotides, reagents and equipment. In 2018, the synthesized oligonucleotides segment held a largest market share of 48.3% of the oligonucleotide synthesis market, by product. This segment is also expected to dominate the market in 2027 owing to its benefits offered in applications such as research, diagnostics and therapeutics. In addition to diagnostic and therapeutic purpose, oligonucleotides are also used for designing DNA microchips that are used as a powerful bio-analytical tool and novel material in the field of nanotechnology.

Increasing applications of synthesized oligonucleotides, increasing investments for synthetic biology and technological advancements genome editing tools are the key driving factors for the growth of the market in the forecast period. However, the growth of the market is restrained by factors such as renewed regulations for biotechnology and lack of skilled professionals in life science industry.

The report segments the global oligonucleotide synthesis market as follows:

Global Oligonucleotide Synthesis market - By Product
• Synthesized Oligonucleotides
o Primers
o Probes
o Large-Scale Synthesis
o Others
• Reagents
• Equipment
Global Oligonucleotide Synthesis market - By Application
• Research
• Diagnostics
• Therapeutics
Global Oligonucleotide Synthesis market - By End User
• Academic Research Institutes
• Pharmaceutical & Biotechnology Companies
• Diagnostic Laboratories
• Other End Users

Oligonucleotides have many applications in research, diseases diagnosis, therapeutics, forensic, drug discovery, agriculture and many more. Oligonucleotides are used in many biological and forensic applications as sequence-specific binding agents can help in identifying presence of a specific target DNA sequence. Synthetic oligonucleotides are short stretches of single stranded DNA fragments assembled by chemical synthesis. There is hardly a field in biology in which synthetic DNA has not been used or does not have the potential to be used. The main reason for such a turnabout is the simultaneous developments of methods for the rapid and efficient synthesis of oligonucleotides and the advent of molecular biology techniques.
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Researchers are also using oligonucleotides to produce more efficient, greener chemical synthesis. By assembling oligonucleotides together into longer fragments that encode synthetic genes, bacteria or yeast cells can be instructed to produce specific enzymes (a type of protein). Oligonucleotides has tremendous potential for treating wide range of medical conditions. They enable the development of therapeutics as the malfunctioning genes can be targeted, manipulated, silenced and/or modulated. Ionis Pharmaceuticals has dedicated its existence to oligonucleotide therapeutic development, particularly antisense oligonucleotide (ASO) therapeutics. Thus, the promising potential of synthesized oligonucleotides in various fields drives the market growth.

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