A) Market Overview:
The global Oligonucleotide Synthesis Market is estimated to be valued at US$2,874.1 million in 2020. Oligonucleotide synthesis involves the production of short DNA or RNA sequences for various applications in genetic research, therapeutics, diagnostics, and synthetic biology. Oligonucleotides play a vital role in molecular biology, as they are utilized in techniques such as PCR, DNA sequencing, gene synthesis, and molecular diagnostics. With the significant advancements in genetic research and the need for personalized medicine, the demand for oligonucleotide synthesis is expected to grow steadily over the forecast period.
B) Market Key Trends:
The key trend driving the oligonucleotide synthesis market is the increasing adoption of gene editing technologies. CRISPR-Cas9, a revolutionary gene-editing tool, has gained immense popularity in the scientific community due to its simplicity and efficiency. Oligonucleotides are used as guide RNA (gRNA) to direct the Cas9 protein to a specific genomic location for precise gene editing. The rise in gene therapy research and the increasing focus on developing targeted therapeutics using gene editing technologies are likely to boost the demand for oligonucleotide synthesis.
For example, in 2019, TriLink BioTechnologies partnered with Horizon Discovery Group to create a range of synthetic RNA controls for CRISPR-Cas9 research. These RNA controls are critical for ensuring the accuracy and reliability of gene editing experiments.
C) Porter’s Analysis:
– Threat of New Entrants:
The complexity of oligonucleotide synthesis technology and the high capital requirement for research and development act as barriers to entry for new players.
– Bargaining Power of Buyers:
The oligonucleotide synthesis market is highly fragmented, with numerous suppliers. This gives buyers the advantage of negotiating competitive prices and flexible contracts.
– Bargaining Power of Suppliers:
The market is dominated by a few major suppliers, giving them a strong bargaining power to set prices and terms.
– Threat of New Substitutes:
Currently, there are no viable substitutes for oligonucleotide synthesis in genomic research and therapeutic applications.
– Competitive Rivalry:
The oligonucleotide synthesis market is highly competitive, with established players investing in R&D to develop innovative technologies and expand their market presence.
D) Key Takeaways:
– The global oligonucleotide synthesis market is expected to witness high growth, exhibiting a CAGR of 11.3% over the forecast period. This growth can be attributed to the increasing adoption of gene editing technologies, driving the demand for oligonucleotide synthesis.
– North America is anticipated to dominate the market, owing to the presence of major biotech and pharmaceutical companies, advanced research facilities, and favorable government initiatives.
– Key players operating in the market include Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., and TriLink Biotechnologies, among others. These players are focused on collaborations, acquisitions, and product launches to strengthen their market position and expand their product portfolio.
In conclusion, the oligonucleotide synthesis market is poised for significant growth in the coming years, driven by advancements in genetic research and the increasing adoption of gene editing technologies. With the demand for personalized medicine and targeted therapeutics on the rise, the market presents lucrative opportunities for key players to innovate and expand their market presence.
