The global Oligonucleotide Synthesis Market is projected to reach USD 9.91 Billion by 2027, registering a CAGR of 12.8%, according to the report by Emergen Research. The accelerated growth of the industry can be accredited to the increased requirement of therapeutic and diagnostic procedures. The extensive research activities in the biotechnology and pharmaceutical and biotechnology sector are expected to propel the growth of the industry over the projected timeframe. Additionally, the growing demand for oligonucleotide synthesis is majorly driven by a significant rise in the funding for synthetic biology.
The emergence of COVID-19 pandemic has boosted the oligonucleotide synthesis as oligonucleotide combinations played a pivotal role in the efficient diagnosis of SARS-CoV-2. Since the outbreak of COVID-19 infection, manufacturers are actively using oligonucleotides to produce oligo-based COVID-19 testing kits. Furthermore, the rising development of these kits is predicted to account for substantial development in demand for oligonucleotide synthesis.
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However, the dearth of standard policies for the safe usage of synthesized oligonucleotides and the scarcity of lack professionals is projected to impede the market growth during the projected timeframe.
Key Highlights from the Report:
- The research segment is foreseen to dominate the market growth, registering a high CAGR of 13.0% throughout the projected timeframe. The escalating number of genome research projects carried out by academic research institutes has contributed to the segment’s exponential growth.
- The hospital segment is anticipexpectedated to account for the largest share of the industry over the projected timeframe. The accelerated growth of the segment can be attributed to the augmenting number of in-patient and out-patient admissions, coupled with the increasing requirement of oligonucleotide drugs, to cater to the growing demand for efficient treatment of chronic illnesses.
- North America is foreseen to account for a significant share of the industry over the estimated timeframe owing to the exponential increase in the number of research and development activities and the increased FDA approvals for oligo-based diagnoses and treatments.
- Major companies in the global market include Agilent Technologies, Inc., GeneDesign, Inc., Integrated DNA Technologies, Inc., Sarepta Therapeutics, Inc., Bio-Synthesis, Inc., Thermo Fisher Scientific, Inc., Biogen Idec International GmbH, GenScript, Inc., ATDBio Ltd, and Nitto Denko Avecia, Inc., among others.
- Integrated DNA Technologies, a prominent leader in integrated genomics, in May 2020 announced the launch of a new production facility in Research Triangle Park in North Carolina. The plant augments the IDT’s production capacity and will cover the east coast of the United States with unparalleled turnaround times for the product range. The company also designed and opened the facility for the production of goods to cater to the COVID-19 pandemic to assist its clients in activities related to COVID-19 testing and analysis.
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For the purpose of this report, Emergen Research has segmented the global Oligonucleotide Synthesis Market on the basis of production, application, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Linkers
- Reagent
- Synthesized Oligonucleotides
- Equipment
- Adaptor
- Probe
Application Outlook (Revenue, USD Billion; 2017-2027)
- Therapeutic
- Diagnostics
- Research
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Pharmaceutical
- Biotechnology
- Hospitals
- Laboratories
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
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