Oligonucleotide Synthesis Market – Analysis and Forecast (2018-2024) | Eurogentec, GE Healthcare


Posted May 25, 2020 by Goal_T

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Oligonucleotide synthesis is used in various applications such as next-generation sequencing (NGS) methods, nucleic acid array-based technologies, therapeutics, library preparations, human identity testing, genomics, nucleic acid-base detections, cell cultures, cloning, diagnostics, and genetic engineering and synthetic biology. The global oligonucleotide synthesis market is growing at a significant rate, due to the mounting usage of synthesized oligonucleotides in molecular diagnostics and clinical applications, and intensifying demand for synthesized oligonucleotides.

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Different products such as a reagent, synthesized oligonucleotides, and equipment contributed to the oligonucleotide synthesis market size. The market has witnessed high demand synthesized oligonucleotides due to its escalating number of applications of in diagnostics, research, and therapeutics.

On the basis of application, the market is subdivided into research, therapeutic and diagnostics. Among all applications, the diagnostics application is expected to grow at the fastest rate in the oligonucleotide synthesis market, due to speedy evolution in the field of molecular diagnostics. In addition, the research application accounted the largest share in the market.

Mounting research and development expenditure in biotechnology and pharmaceutical companies, and escalating demand for innovative diagnostic and therapeutic technique is also facilitating the growth for the oligonucleotide synthesis market.

Price erosion of synthesized oligonucleotides, lack of a unified set of regulations for therapeutic oligonucleotides, large-scale synthesis of oligonucleotides, and delivery of oligonucleotide drugs to specific targets are the major challenges for the growth of oligonucleotide synthesis market.

Globally, the manufacturing companies trying to enter the oligonucleotide synthesis market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.

Asia-Pacific is observed to witness the fastest growth in the market, due to the mounting accessibility of synthesized oligos. In addition, the mounting need for better healthcare outcome, the upsurge in R&D funding, improving healthcare infrastructure and activities and escalating government funding are also creating a positive impact on the oligonucleotide synthesis market growth in the region.

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Key players in the oligonucleotide synthesis market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In October 2016, Nitto Denko Avecia Inc. acquired Irvine Pharmaceutical Services and Avrio Biopharmaceuticals, to expand its oligonucleotide drug business.

Merck KGaA, Agilent Technologies, LGC Biosearch Technologies, Eurofins Genomics, Eurogentec, GE Healthcare, Thermo Fisher Scientific, and Nitto Denko Avecia Inc. are the key players offering oligonucleotide synthesis.

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Last Updated May 25, 2020