The global oligonucleotide synthesis market consists of single-stranded DNA or RNA oligos which are used as probes, primer, linker and adaptors. The oligonucleotides find usage in applications such as research, diagnostics and therapeutics. Traditional synthesis methods are time consuming and require extensive purification steps, however emergence of solid phase synthesis has made the process faster and more efficient. The Global oligonucleotide synthesis market is estimated to be valued at US$ 4565 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the oligonucleotide synthesis market are Forte Research Systems (India), ICON plc (Ireland), Merge healthcare incorporated (U.S.), Bio-Optronics (U.S.), DSG INC (U.S.), ArisGlobal (India), ERT Clinical Bioclinica (U.S.), Oracle Corporation (U.S.), Medidata Solutions (U.S.), DATATRAK International, Inc. (U.S.), and MedNet Solutions, Inc., (U.S.) among others. Advances in DNA and RNA sequencing technologies are creating opportunities for development of customized oligos used as capture probes and gene expression assays. Revolutionary technologies such as CRISPR-Cas9 genome editing require high throughput oligo synthesis which is fueling market growth.
Market Drivers
The key driver for the Oligonucleotide Synthesis Market Demand is the growing applications of oligos in research, diagnostics and therapeutics. Advancements in fields of genomics and precision medicine have increased the demand for custom & large scale oligonucleotides. Technologies like next generation sequencing, molecular diagnostics and gene therapies rely on highly specific oligonucleotide probes and primers. This specific application base drive sustained market growth over the forecast period.
Current challenges in Oligonucleotide Synthesis Market
The oligonucleotide synthesis market is facing challenges related to high capital requirements and lack of skilled professionals. Setting up facilities for oligonucleotide synthesis needs huge investments in automated equipment and software. This puts pressure on smaller players and universities to outsource their oligonucleotide synthesis needs. There is also a shortage of trained and experienced scientists with specialized skills in oligonucleotide chemistry and nucleic acid engineering. Most academic programs do not offer dedicated courses in oligonucleotide design and synthesis methodologies. This unavoidably leads to dependence on contract manufacturing organizations for outsourced synthesis needs. Maintaining quality standards and turnaround times is a challenge for CMOs operating at large scales.
SWOT Analysis
Strength: Rapid developments in DNA sequencing and gene technologies are driving demand. Customized oligos are essential tools for life science research and applications.
Weakness: High costs involved in setting up an in-house oligo production facility. Dependence on few big players increases price risks.
Opportunity: Expanding field of therapeutics such as antisense drugs, gene therapy vectors based on oligonucleotides. Growth markets in agri-biotech and molecular diagnostics offer new opportunities.
Threats: Stiff competition from dominant players can squeeze margins of smaller firms. Regulatory delays and clinical trial failures impact investments in oligo-based drugs.
Geographical regions: North America accounts for the largest share in terms of value due to extensive R&D spending and presence of leading pharma companies. Asia Pacific is the fastest growing regional market supported by increasing life science research in China, India and other developing countries.
The United States holds the major share of the Oligonucleotide Synthesis Market in the North America region. This is attributed to the increased R&D investments in clinical research and drug discovery. Europe is the second largest market globally with countries such as the U.K., France and Germany making significant contributions. China dominates the Asia Pacific region owing to expansions in genomics and biopharma sectors. Other emerging nations including South Korea, Japan and India are also contributing to the regional growth.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.