Oligonucleotide Synthesis Market worth $3.9 billion by 2025 - Exclusive Report by Meticulous Research®According to a new market research report titled, "Oligonucleotide Synthesis Market by Product & Service (Synthesizer, Custom Oligonucleotide Synthesis Service, Probes, Primers, Linkers & Adaptor, Reagents & Consumables), Application (Research, Therapeutics, Diagnostics), and End User - Global Forecast to 2025", the global oligonucleotide synthesis market is expected to grow at a CAGR of 10.4% from 2019 to 2025 to reach $3.9 billion by 2025.
The unique ability of oligonucleotides (ON) to specifically bind to the nucleic acid sequence makes them a promising agent in the medical field. Moreover, the capability of oligonucleotides to exert the aforementioned biological mechanisms via sequence-specific molecular recognition makes them highly attractive candidates for drug development; however, their pharmacokinetic properties are problematic and represent a significant hurdle for their therapeutic application.
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There is a huge demand for sustainable methods in the biological research and development field; where instead of hazardous chemicals, an aqueous medium is chosen to perform various experiments. Moreover, the increased use of various RNAs & DNAs in understanding critical structural, functional, and regulatory roles of genetic materials in disease biology and cure are expected to further increase the demand for oligonucleotides. The rapid, reliable, and cost-efficient methods of oligonucleotide synthesis are also in demand, which provides new growth avenues for this market in near future.
The oligonucleotide synthesis market study presents historical market data in terms of value (2017, and 2018), estimated current data (2019), and forecasts for 2025 - by product & service, application, end user, and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on products & services, the overall oligonucleotide synthesis market is majorly segmented into oligonucleotide synthesis products, synthesized oligonucleotides, and custom oligonucleotide synthesis services. The synthesized oligonucleotide segment is further segmented as primers, probes, and linkers & adaptors. The primers segment is estimated to dominate the overall synthesized oligonucleotides market in 2019, majorly with the wide use of PCR primers in PCR studies due to huge adoption of PCR technologies across research and diagnostic fields with their high sensitivity and cost effectiveness.
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Based on application, the research applications segment is estimated to account for the largest share of the overall oligonucleotide synthesis market. Increasing adoption of oligonucleotides in drug discovery and development studies with the advancements in the gene synthesis and next generation sequencing areas are supporting the growth of this market. However, the use of oligonucleotides for diagnostic applications is projected to grow at the fastest CAGR during the forecast period, mainly due to developing applications of molecular diagnostics (MDx) and genetic testing.
Based on the end user, the academic research institutes segment is estimated to dominate the overall oligonucleotide synthesis market primarily due to a major demand for oligonucleotides from these facilities for the screening of assays & target identification to find out alternative methods for disease treatment with rising support from pharmaceutical companies. However, diagnostic laboratories segment is expected to register the fastest CAGR during the forecast period owing to rising application of oligonucleotides in diagnostic applications.
Geographically, North America dominated the global oligonucleotide synthesis market, followed by Europe. The dominating position of North America in the global oligonucleotide synthesis market is mainly attributed to substantial growth in R&D investment; better accessibility & higher adoption of technically advanced products; and the presence of significantly improved infrastructure in biotechnology sector. In addition, government and private funding for research is further boosting the growth of this market. On the other hand, Asia-Pacific market is slated to register the fastest growth during the forecast period, primarily due to growing availability of synthesized oligonucleotides, strong presence of pharma & biotech companies, growing clinical research & trial outsourcing to CROs, and increase in R&D funding and activities in the APAC region.
The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016-2019). The oligonucleotide synthesis market has witnessed number of mergers & acquisitions, expansions, new products launches, and agreements, partnerships & collaborations. For instance, in March 2018, Danaher Corporation acquired Integrated DNA Technologies ("IDT"), a provider of high-value consumables for genomics applications in molecular biology, qPCR, next generation sequencing, synthetic biology, gene editing and molecular diagnostics. In August 2019, Integrated DNA Technologies (IDT) launched oPools Oligo Pools - ready-to-use pools of high-quality DNA oligonucleotides (oligos) with up to 350 nucleotides in length.
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The global oligonucleotide synthesis market is consolidated with the top 4 players namely Integrated DNA Technologies, Inc. (U.S.), Eurofins Scientific SE (Luxembourg), Thermo Fisher Scientific Inc. (U.S.), and Agilent Technologies, Inc. (U.S.) together holding majority share of the market in 2018. These players are continuously focusing on organic as well as inorganic growth strategies to maintain their strong foothold in the market. Other key players in this market are Merck KGaA (Germany), GE Healthcare (U.S.), GeneDesign, Inc. (Japan) (Part of Ajinomoto Co.,Inc.), Kaneka Eurogentec (Belgium) (Part of Kaneka Corporation), LGC Biosearch Technologies (U.S.), Bio-synthesis Inc. (U.S.), TriLink BioTechnologies, LLC (U.S.) (Part of Maravai LifeSciences), and ATDBio Ltd. (U.K.) among others.
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