Oligonucleotides are single-stranded and short RNA or DNA molecule that have a wide range of applications in research forensics and genetic testing. Oligonucleotides are made by chemical synthesis in the laboratory. Oligonucleotide synthesis has its application in therapeutics, human identification test, cell cultures, library preparations, human identity testing. Oligonucleotides also have its application in nucleic acid array based technology, diagnostics, genetic engineering, next-generation sequencing, synthetic biology, genomics, cloning and nucleic acid based detection. Oligonucleotides synthesis market is segmented on the basis of end users as pharmaceutical and biotechnology companies, academic research institutes and diagnostic laboratories.
North America dominates the global market for oligonucleotide synthesis due increasing R&D expenditure in biotechnology and pharmaceutical companies. Asia is expected to show high growth rates in the next five years in global oligonucleotide synthesis market. China and India are expected to be the fastest growing oligonucleotide synthesis markets in Asia-Pacific region. Some of the key driving forces for oligonucleotide synthesis market in emerging countries are increasing R&D activity, increasing government funding and growing the availability of synthesized oligonucleotide.
In recent times, there is increased use of oligonucleotide synthesis due to increasing R&D expenditure in pharmaceutical and biotechnology companies. Rise importance of personalized medicine, rising innovation in genomics and increasing demand for synthetic genes are some of the key factors driving the growth for global oligonucleotide synthesis market.
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