Oligonucleotide Synthesis Market is Expected to Reach $19.8 billion by 2032

According to a market report, published by Sheer Analytics and Insights, The global oligonucleotide synthesis market was valued at $3.4 billion in 2021 and it is expected to reach $19.8 billion at a CAGR of 17.1% between 2022 and 2032. Revenue generation in this market is expected to expand as a result of the recent success of oligonucleotide-based medications in medicine as a result of an increase in the number of FDA-approved goods. Additionally, a sizable number of oligos are being researched for their potential application in the treatment of certain infectious disorders. The increased emphasis on personalized genome sequencing, which aids in determining the optimal method for patient treatment, whether preventive, diagnostic, or therapeutic, is the main reason propelling the expansion of this market, nevertheless. Additionally, it is anticipated that a rise in government-funded programs will favorably affect the market for oligonucleotide synthesis as a whole.

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Governments from a number of nations have recently made large investments in synthetic biology and genomics programs. The development of new technology has greatly benefited from these government investments. For instance, the Hong Kong University of Science and Technology has received a USD63 million donation from the Li Ka Shing Foundation to establish a synthetic biology research facility. Moreover, the method is very helpful in modern laboratory practice since it gives quick, low-cost access to oligonucleotides manufactured to order with the necessary sequence. These primary factors are expected to boost market growth over the forecast period from 2022 to 2032.

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Furthermore, growing government funding for genome and synthetic biology initiatives, along with active research, is a key element fueling the market for oligonucleotide synthesis. The industry is also being fuelled by pharmaceutical and biotechnology companies investing in R&D to create oligonucleotide therapeutics with greater therapeutic potential and fewer adverse effects. Thus, it is anticipated that these growing aspects will expand growth prospects for the global oligonucleotide synthesis market.

Contrarily, the difficulties in delivering oligonucleotide medications to specific targets and the complexity of therapeutic oligos may impede the market for oligonucleotide production. However, it is projected that development prospects in emerging economies and the increased emphasis on individualized medicine would open up attractive business potential.

Some new developments in the global oligonucleotide synthesis market:
On 15th November, 2022, globally, this market has been driven by the widespread use of surgical laser systems in cosmetic, refractive, dental, and general surgeries such cataract removal, tumor removal, plastic surgery, and many more treatments.
On 19th October, 2022, The availability of an initial portfolio of off-the-shelf long-read gene panels was announced today by PacBio, a pioneer in the development of high-quality, highly accurate sequencing solutions, and Twist Bioscience Corporation, a business that empowers customers to succeed by providing high-quality synthetic DNA using its silicon platform. These fixed Twist Alliance panels are made to efficiently and cost-effectively capture target areas. Additionally, customers will be able to create a panel of their own design that is fully adaptable and scalable for sequencing using PacBio HiFi reads.
According to the study, key players dominating the global oligonucleotide synthesis market are Agilent Technologies (U.S), ATD Bio (U.K), Ajinomoto (Japan), Cinven Group (U.K), Bio-Synthesis (U.S), DNA Technologies (India), Danaher Corporation (U.S), E. Merck KG (Germany), Eurofins Scientific (France), General Electric (U.S), Kaneca Corporation (Japan), PerkinElmer (U.S), Thermo Fisher Scientific (U.S), Tri-Link Biotechnologies (U.S), among others.

The Global Oligonucleotide Synthesis Market Has Been Segmented Into:
The Global Oligonucleotide Synthesis Market - by Product Type:

Synthesized Products
Reagents
Equipment
Services
Others
The Global Oligonucleotide Synthesis Market - by Application Type:

PCR Primers
PCR Assays and Panels
Sequencing
Antisense Oligonucleotide
Diagnostics
Therapeutics
Others
The Global Oligonucleotide Synthesis Market - by Regions:

North America
The U.S.
Canada
Mexico
Europe
The U.K.
France
Germany
Italy
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Rest of Asia Pacific
LAMEA
Middle East
Saudi Arabia
UAE
Others
Latin America
Brazil
Chile
Others
Africa
South Africa
Egypt
Others

Browse the full report at
https://www.sheeranalyticsandinsights.com/market-report-research/oligonucleotide-synthesis-market-21

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This release was published on openPR.