Oligonucleotide Synthesis Market - Global Opportunity Analysis and Industry Forecast (2019-2024)

Posted April 9, 2019 by asihuu

According to this latest publication from Meticulous Research®, the global Oligonucleotide Synthesis Market is expected to grow at a CAGR of 10.5% from 2019 to reach $2.9 billion by 2024.

Meticulous Research® – leading global market research company published a research report titled “Oligonucleotide Synthesis Market by Product (Primer, Probe, Linker, Adaptor, Custom, Reagent, Equipment), Application (PCR, DNA, RNAi, Research, Therapeutic), End User (Academic, Pharmaceutical, Biotechnology) - Global Forecast to 2024”.

According to this latest publication from Meticulous Research®, the global Oligonucleotide Synthesis Market is expected to grow at a CAGR of 10.5% from 2019 to reach $2.9 billion by 2024. Oligonucleotides are majorly used in research, while their application is growing exponentially in diagnostics and therapeutics. The major factors fueling growth of the global oligonucleotide synthesis market include growing adoption of synthesized oligonucleotides in diagnostic and clinical applications, rising R&D expenditure and government investment in pharmaceutical and biotechnology companies, plummeting cost of sequencing, increasing public-private spending on genomics, and rising venture capital investment/funding.
According to Research America, investment of the U.S. in medical and health research and development has increased by 13.3% between 2013 and 2015. In 2015, total expenditure on R&D in the U.S. was USD 158.7 billion. Industry, including pharmaceutical, medical technology, biotechnology, and health IT, accounted for the largest share of the U.S. investment in medical and health R&D over the reporting period. This was attributed to increase in research activities in pharmaceutical and biotechnology industries, research institutes, and high demand of drugs for the treatment of chronic illnesses. Thus, the growing R&D expenditure in pharmaceutical and biotechnology companies is expected to drive the oligonucleotide synthesis market during the forecast period.
The oligonucleotide synthesis market study presents historical market data in terms of value (2017, and 2018), estimated current data (2019), and forecasts for 2024 - by product, application, end user, and region. The study also evaluates industry competitors and analyzes the market at regional and country level.
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Based on product, synthesized oligonucleotides commanded the largest share of oligonucleotide synthesis market in 2018 and is also expected to witness the highest growth during the forecast period. The large share and high growth of this segment is mainly attributed to the increasing number of applications of synthesized oligonucleotides in research, diagnostics, and therapeutics.
Based on application, the oligonucleotide market is segmented into research, diagnostics, and therapeutics. The research application accounted for the largest share in 2018; however, diagnostic segment is likely to grow at the highest CAGR during the forecast period owing to the developing applications of molecular diagnostics (MDx) and genetic testing.
Based on end user, the oligonucleotide synthesis market is segmented into academic research institutes, pharmaceutical and biotechnology companies, diagnostic laboratories, and other end users. The academic research institutes will continue to dominate the market through the forecast period. The largest share of academic research institutes is due to the rising pressure to speed up the drug development procedure, growing focus on collaboration of pharma-academia for the development of new assay molecules, and primary screening of drug molecule. Moreover, rising application of oligonucleotides in diagnostics is expected to drive the demand from the diagnostic laboratories during the forecast period.
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The report includes extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2015-2018). The oligonucleotide synthesis market has witnessed number of mergers and acquisitions in recent years. For instance, in May 2018, LGC Biosearch Technologies completed the acquisition of BioAutomation Corporation. Similarly, in March 2018, Danaher Corporation completed the acquisition of Integrated DNA Technologies (“IDT”) that develops, manufactures, and supplies various types of custom oligonucleotides for research and diagnostics.
The oligonucleotide synthesis market is highly competitive with the presence of several small and big players like IDT, Merck, Eurofins Scientific, Thermo Fisher Scientific, Agilent Technologies, GE Healthcare, GeneDesign, Kaneka Eurogentec, LGC Biosearch Technologies, Bio-synthesis, TriLink BioTechnologies, and ATDBio Ltd.
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Issued By shweta
Country India
Categories Health , Medical , Research
Last Updated April 9, 2019