Oligonucleotides are short nucleic acid polymers used in applications ranging from genetic testing to therapeutic drug development. Oligonucleotides act as primers, probes or templates for various processes in genomics, molecular diagnostics and synthetic biology. They help identify genetic variations and perform tests for inherited disorders, cancers and infectious diseases. In the pharmaceutical industry, oligonucleotides form the basis of antisense drugs, aptamers and RNAi therapies that regulate gene expression for treating diseases.
The global oligonucleotide synthesis market is estimated to be valued at US$ 4565 Bn or Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rising demand from genetic research and drug discovery drives the oligonucleotide synthesis market growth. Growing applications of oligonucleotides in molecular diagnostics and development of advanced gene therapies foster market expansion. personalized medicine trends rely on analyzing genetic variations that require oligonucleotide tools. Furthermore, continuous efforts to decode the human genome and other species genomes generate demand for oligo probes and primers in various sequencing projects. However, the ability to scale-up oligo production remains a challenge due to complexity in chemical synthesis procedures. Nonetheless, ongoing R&D to develop improved synthesis methods supports market competitiveness over the forecast period.
SWOT Analysis
Strength:
- Oligonucleotide synthesis has applications in molecular diagnostics, research and therapeutics, which is driving high demand for oligonucleotides.
- Availability of powerful tools for oligonucleotide design and synthesis is enabling development of innovative applications.
- Growing R&D investment from governments and companies in life science research will boost the market.
Weakness:
- Oligonucleotide synthesis process is complex and requires specialized infrastructure and expertise.
- Commercial oligonucleotides have shorter shelf-life which adds logistic challenges.
Opportunity:
- Personalized medicine and precision medicine approaches will create new opportunities for oligonucleotides.
- Next generation genome sequencing is expanding applications of oligonucleotides in diagnostics.
- Growing biotherapeutics sector will increase demand for oligos in drug discovery and development.
Threats:
- Stringent regulations can delay market approval and commercialization of oligo-based products.
- Alternative technologies like CRISPR may threaten some oligonucleotide applications.
- Manufacturing challenges and high costs can restrict market growth.
Key Takeaways
The global Oligonucleotide Synthesis market is expected to witness high growth. The market size is projected to reach US$ 4565 Bn by 2031, growing at a CAGR of 13%.
North America currently dominates the market due to presence of leading manufacturers and high adoption of advanced technologies. Asia Pacific is expected to witness fastest growth due to increasing R&D investments, growing biotechnology industry and rising healthcare expenditure in major countries like China and India.
Key players operating in the Oligonucleotide Synthesis market are Forte Research Systems, ICON, Merge Healthcare, Bio-Optronics, DSG, ArisGlobal, ERT, Oracle Corporation, Medidata Solutions, and MedNet Solutions. These players are focusing on new product launches, collaborations and geographic expansions to strengthen their market position. For instance, ICON acquired Bioclinica to enhance its CRO service capabilities for biopharma clients.
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