Oligonucleotide Synthesis Market Revenue to Cross USD 3,971.72 million by 2027 - Lead By Synthomics, Iridia, Helixworks, Keasling Lab; Molecular Assemblies; Twist Bioscience; Evonetix

According to our new research study on "Oligonucleotide Synthesis Market Forecast to 2027 - Global Analysis - by Product, Application, End User, and Geography," the global oligonucleotide synthesis market size is estimated to reach US$ 3,971.72 million by 2027 from US$ 1,584.16 million in 2018; it is estimated to grow at a CAGR of 11.1% during 2019-2027.

The report highlights trends prevailing in the market and factors driving its growth. The oligonucleotide synthesis market trends are attributed to the rising applications of synthesized oligonucleotides, increasing investments for synthetic biology, and technological advancements in genome editing tools However, the growth of the market is restrained by factors such as renewed regulations for biotechnology.

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Thus, owing to the above-mentioned factors, the oligonucleotide synthesis market is expected to witness growth opportunities in North America. In the recent past, QIAGEN launched its novel therascreen FGFR RGQ RT-PCR Kit in the US as a companion diagnostic for Janssen Biotech's Balversa (erdafitinib). Janssen is a Johnson & Johnson company. In 2018, QIAGEN's NGS sales were $140 million, projected to hit $190 million this year.

Oligonucleotide Synthesis Market: Competitive Landscape and Key Developments

Thermo Fisher Scientific Inc; GenScript; Synthomics, Inc; Ansa Biotechnologies, Inc; Iridia, Inc; Helixworks; Keasling Lab; Molecular Assemblies; Twist Bioscience; Evonetix; DNA Script; Nuclera Nucleics Ltd; Camena Bio are among the leading companies in the market. The oligonucleotide synthesis market share is anticipated to flourish with the development of new innovative products by market players.

Also, in July 2018, Evonetix Awarded Innovate UK Funding for £1.3 million ($1.75M) Gene Synthesis Project. Innovate UK, the UK's innovation agency, will co-fund the £1.3 million project, which will be undertaken in collaboration with Durham University. Furthermore, synthetic biology company Zymergen has received US$ 44 million funds in 2015 from investors such as Transcript, AME Cloud Ventures, Data Collective, Fisher Jurvetson, HVF, Innovation Endeavors, Obvious ventures, True Ventures, and Two Sigma Ventures. In addition, in 2016, Zymergen raised US$130 million in Series B funding, which was led by SoftBank Group.

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North America held the largest share of the oligonucleotide synthesis market, with the US holding the largest market share, followed by Canada. The growth in North American oligonucleotide synthesis market is characterized by the presence of many biotechnology and pharmaceutical companies across the region, increasing focus of market players in the regional market, and rising prevalence of cancer in the region. Moreover, the US market is expected to witness growth opportunities owing to factors such as various government support initiatives for research and development. In addition, growth in the pharmaceutical & biopharmaceutical sector in the country is expected to support the market.

In September 2018, Molecular Assemblies, Inc. announced the award of three patents, bringing the total to eight issued patents protecting the company's proprietary enzymatic DNA synthesis technology in the US and Europe. The three issued patents are EP 3115462, US 10,041,110, and US 10,059,929.

In June 2018, Twist Bioscience developed sample preparation products for customers performing next-generation sequencing experiments and analysis. The Twist Human Core Exome Kit includes all the tools needed for library construction, target capture, and enrichment to prepare a sample for sequencing.

In October 2018, EVONETIX LTD received the award for "Best Emerging Synthetic Biology Company" at the 10th Anniversary of the Oxford Bioscience Network (OBN) Awards in recognition of the company's novel gene synthesis technology, and its potential to facilitate the rapidly growing field of synthetic biology.

In April 2018, Twist Bioscience Corporation expanded its business presence in Asia Pacific. The expansion aims to strengthen the strategic distribution partners for synthetic DNA and the exome and custom target enrichment product suite for next-generation sequencing. The company has entered into a strategy with Recenttec K.K. in Japan.

In October 2018, EVONETIX LTD pioneering an innovative approach to scalable and high-fidelity gene synthesis, and LioniX International, a leading global provider of customised microsystem solutions in scalable production volumes, collaborated to scale up production of prototype microelectromechanical systems (MEMs) for DNA synthesis.

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