Oligonucleotide Synthesis Market Growing with Rising Cancer Burden
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Equipment, reagents & consumables, and synthesized oligonucleotides are the categories when the market is segmented on the basis of offering. Among these, the synthesized oligonucleotides category dominated the market during 2013–2017 (historical period), and it is also expected to grow the fastest during the forecast period. Due to the rising demand for such biologics for research and clinical applications, biotechnology and biopharmaceutical companies are outsourcing their production to contract manufacturers, as this way, the bigger companies can offer a high quantity of products at a lower operational cost.
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Another strong reason for the growth of the oligonucleotide synthesis market is the rising incidence of cancer and infectious diseases. As per the World Health Organization (WHO), 9.6 million die of cancer each year, which is why the need for better diagnostic and treatment methods is rising. Similarly, presently, the world is battling the COVID-19 infection, which has shown wide-ranging complications and symptoms in people. Hence, synthesized oligonucleotides could help understand the genetics behind the varying behavior of the disease in people, which could help unearth better drugs.
Thus, with continued technological advancements, more-effective oligonucleotides would emerge, which could potentially revolutionize healthcare.
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