The Oligonucleotide Synthesis Market is expanding rapidly, with a revenue CAGR of 18% forecast between 2022 and 2032, reaching USD 33,967.59 million in 2032. The market’s growth is due to increasing demand across several industries, including research, diagnostics, and medicine. Oligonucleotide synthesis is a process that produces short strands of RNA or DNA.
These molecules are used in gene therapy, medication development, and gene editing. The life sciences industry’s focus on research and development, coupled with the rise of genetic disorders and chronic diseases, is expected to increase demand for oligonucleotide synthesis.
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Furthermore, technical advancements in oligonucleotide synthesis platforms, including automated synthesizers and high-throughput systems, have accelerated the process and reduced costs, driving market revenue growth. Custom oligonucleotide synthesis services are also on the rise, which allows for the design and creation of oligonucleotides that meet specific research needs. This will raise the demand for oligonucleotide synthesis services during the forecast period.
Key players in the Oligonucleotide Synthesis Market –
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Eurofins Genomics
- Agilent Technologies, Inc.
- LGC Biosearch Technologies
- IDT (Integrated DNA Technologies)
- Biogen Inc.
- GE Healthcare
- Danaher Corporation
- Twist Bioscience Corporation
The market’s growth is expected to be limited by the high cost of oligonucleotide synthesis equipment and reagents, which prevents small and medium-sized research facilities from using the technology. The inability of skilled employees to operate and maintain oligonucleotide synthesis platforms is also a major factor. However, the growth of personalized medicine, which relies heavily on oligonucleotide synthesis, is expected to boost the market.
The global oligonucleotide synthesis market is segmented into DNA oligonucleotides, RNA oligonucleotides, and others. The DNA oligonucleotides segment is expected to account for the largest revenue share during the forecast period due to its use in numerous domains, including drug discovery, research and development, and molecular diagnostics.
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RNA oligonucleotides are projected to have the highest revenue CAGR during the forecast period due to their expanding use in several applications such as research and development, diagnostics, and therapies. Modified oligonucleotides and specialized oligonucleotides are also expected to have significant revenue growth during the forecast period.
Based on application, the oligonucleotide synthesis market is segmented into research, pharmaceuticals, diagnostics, and others. The research segment is expected to account for the largest revenue share during the forecast period due to the use of oligonucleotides in genomics, proteomics, and genetic engineering. RNA interference, splicing modulation, and gene expression research all require oligonucleotides.
The pharmaceutical segment’s revenue growth is expected to be driven by the development of RNA-based therapies for cancer and viral infections. The diagnostics segment is expected to experience revenue growth due to the rising demand for nucleic acid-based diagnostics.
Governments worldwide are encouraging investments in genomics and personalized medicine, which will create new opportunities for the oligonucleotide synthesis market in the next few years. The market’s growth may be challenged by regulations on labeling and safety concerns.
Nevertheless, technological advancements have enabled cost-effective production methods for oligonucleotides, encouraging the entry of new players into the market. Overall, the oligonucleotide synthesis market’s growth potential is significant, with rising demand for customized DNA/RNA sequences for research, development, and commercial applications driving the industry’s expansion.
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