Oligonucleotide Synthesis Market: Entry of New Players Ups Competition
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The degree of competition in the global oligonucleotide synthesis market has intensified over the years on account of the foray of numerous new vendors. This has put a downward pressure on prices and consequently many leading vendors have had to cut down certain service and product arms in order to be able to focus on a niche sector.
A report by Transparency Market Research forecasts the global oligonucleotide synthesis market to rise at a CAGR of 11.2% between 2017 and 2025 to become worth US$1.65 bn in 2016 from US$4.189 bn by 2025.
The different types of products in the global oligonucleotide synthesis market are equipment, reagents and consumables, and synthesized oligonucleotides. Of these, the synthesized oligonucleotides segment accounts for a leading share in the market. This is because synthesized oligonucleotides are ready to use oligonucleotides that find widespread application in research, therapeutic, and diagnostics. These are also available as customized oligos prepared as per need.
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Depending upon geography, the key segments of the global oligonucleotide synthesis market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Currently, North America leads the global oligonucleotide synthesis market vis-à-vis value and will likely retain its leading position in the years to come on account of pharmaceutical companies focusing on applications of oligonucleotides in therapeutics, research and diagnostics. Another factor helping to catalyze growth in the market in the region is the increasing occurrence of genetic disease and the subsequent thrust on developing newer and advanced drugs. The North America market is predicted to account for 34.1% share in revenue, by 2024.
As per the lead analyst of the TMR report, “The technological progress in synthetic chemistry and growing application of oligonucleotides in therapeutics and diagnostics applications will likely propel the market for oligonucleotide synthesis in the next couple of years. Further, the technological advances in synthesis of oligonucleotides provides longer and better sequence and pure oligonucleotides that can be used in a number of molecular biology applications. Different pharmaceutical and biotechnology companies are working on developing newer and advanced methods in synthetic chemistry. For instance, Integrated DNA Technologies, leader of synthesized oligonucleotides has developed various pioneered methods to synthesize oligonucleotides of extreme lengths. The company has developed oligonucleotides up to 200 base length which is used with mass spectrometry for the manufacture of mini-genes. All such activities are driving the global oligonucleotide synthesis market forward.”
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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