Oligonucleotide pool is used in various research applications for designing and synthesizing of genes. The synthesizing of the oligonucleotide pool has significantly advanced scientific research, diagnostic development, and drug discovery.
Oligonucleotide pool allows the precise design and synthesis of thousands of user-defined sequences in parallel which can be utilized in high-throughput screening experiments for identification of novel gene mutations, optimization of protein structure, and function, or for drug discovery.
Considering the exponential traction, the market perceives currently Market Research Future (MRFR) in its recently published study report asserts that The Global Oligonucleotide Pool Market is expected to register 10.3% CAGR and is anticipated to reach USD 2,562.6 Million by 2023.
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The advantages of oligonucleotide pool such as low-cost, fast analysis methods with precisely high accuracy are allowing its market to garner phenomenal traction on the global platform. Additional factors boosting the market growth include the growing complimentary industries, augmented adoption of precision medicine, and the increasing applications of oligonucleotide pool in biotechnology and molecular biology. Besides, huge investments made by the pharmaceutical giants in oligonucleotide therapeutics for drug development are fostering the growth of the market.
Market Key Players Competitive Dashboard
The prominent players in the global oligonucleotide pool market are Sigma-Aldrich Co. LLC (US), Twist Bioscience (US), Arbor Biosciences (US), TriLink BioTechnologies, Inc. (US), Agilent Technologies (US), Creative Biogene (US), CustomArray, Inc. (US), Integrated DNA Technologies, Inc. (US).
On the flipside, the nascent stage of the oligonucleotide pool is a considerable headwind that is posing some challenges to the market growth such as the lack of funds for R&D and the high cost of development. Nevertheless, substantial funding programs from private and public organizations that are increasing rapidly are expected to support the market growth providing sufficient funds for R&D.
MRFR has segmented its analysis into four key dynamics for enhanced understanding.
Global Oligonucleotide Pool Market, by Type
Global Oligonucleotide Pool Market, by Application
- Diagnostics & Therapeutics
Global Oligonucleotide Pool Market, by End User
- Commercial Research
- Pure Academic Research
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Global Oligonucleotide Pool Market – Regional Analysis
The North American region dominates the global oligonucleotide pool market owing to the presence of leading global players and encouraging governmental support for the research & development activities in healthcare. Moreover, factors such as the increased uptake of advanced technologies and high healthcare expenditures encourage market growth.
The oligonucleotide pool market in the US backed by the increasing demand for tests of gene functions, majorly contributes to the growth of the regional market. Heading with the rising demand, the region is expected to create a larger revenue pocket, globally, by 2023.
The European oligonucleotide pool market accounts for the second-largest market. Factors facilitating the growth of the regional market include the recent technological advancements and their huge uptake in the medical sector. Also, the rising healthcare expenditure is expected to foster market growth in the region. Besides, support and funding programmes from public & private organizations for research & development positively impacts the growth of the regional market.
- Diagnostic kit manufacturers and distributors
- Government research organizations
- Hospitals and clinics
- Regulatory agencies
- Biotechnology, life science, and diagnostic companies
- Research institutes
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The oligonucleotide pool market in the Asia Pacific region is emerging as a profitable market, heading with enormous contributions from some of the Asian countries such as South Korea, China, Japan, and India. With the rising demand for gene tests and increasing adoption of these techniques in various procedures, APAC market is expected to register a CAGR of 9.2% during the forecast period.
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