July 14, 2024

Oligonucleotide Synthesis Market Is Driven By Increasing Research And Developments In Pharmaceutical And Biotechnology Sectors

The oligonucleotide synthesis market has witnessed significant growth in recent years due to increasing applications of oligonucleotides in various therapeutic areas such as infectious diseases, oncology, immunology and inflammatory diseases. Oligonucleotides such as antisense oligonucleotides, aptamers, siRNAs etc are widely used as tools for biomedical research and drug discovery. They are used for probing gene functions, pathway analysis, target validation and identification of potential drug targets. Increasing research activities in fields such as genomic research, drug target identification and development of therapeutics based on mechanisms such as antisense, RNAi and aptamers have fueled the demand for oligonucleotides. Advancements in oligonucleotide chemistries have enabled design of various chemically modified oligonucleotides with improved characteristics such as enhanced stability, binding affinity and specificity. This has expanded their applications from research to diagnostics and therapeutics.

The global oligonucleotide synthesis market is estimated to be valued at US$ 3,962.67 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

With advancement in oligonucleotide chemistry and rise of customized products, companies now offer services for rapid, cost-effective custom synthesis of oligonucleotides as per customer’s unique sequence requirements. This has enabled wider applicability of oligonucleotides in various areas of biomedical research. Another notable trend is the rise of automation in oligonucleotide synthesis. Major players are focusing on development of advanced automated oligonucleotide synthesizers with improved productivity, throughput and reliability. This is expected to make oligonucleotide synthesis more affordable and enable wider access. Growing demand for specialized oligonucleotides particularly for therapeutic applications will also guide research efforts towards development of novel chemistries and methodologies for large scale, cost-effective commercial production of therapeutic-grade oligonucleotides.

Porter’s Analysis
Threat of new entrants: The oligonucleotide synthesis market requires high capital investment and technical expertise which poses significant barriers for new players.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute technologies and products. However, oligonucleotides have varied applications which give buyers limited negotiation power.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material suppliers and technologies. However, suppliers play a crucial role in product innovation and quality which gives them an edge in negotiations.

Threat of new substitutes: Threat from substitutes is low as oligonucleotides have wide applications in drug discovery, diagnostics and therapeutics where replacement opportunities are limited.

Competitive rivalry: The market is moderately competitive due to presence of few global players. Key players differentiate based on technology, synthesis scale, customer service and geographic presence.

Key Takeaways

The Global Oligonucleotide Synthesis Market Size is expected to witness high growth over the forecast period driven by factors such as rising pharmaceutical R&D, growing focus on personalized medicine and advancement in diagnostic technologies. The global oligonucleotide synthesis market is estimated to be valued at US$ 3,962.67 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.

North America dominates the global market and is expected to maintain its lead position during the forecast period. Significant research funding and strong presence of key players in the US and Canada drives market growth in the region. Asia Pacific is projected to witness fastest growth in upcoming years fueled by increasing healthcare expenditure, advancing biomedical infrastructure and expanding biosimilars market in countries such as China and India.

Key players operating in the Oligonucleotide Synthesis market are Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies€TM, Inc, BioAutomation Corporation, Twist Bioscience, Shanghai SynTheAll Pharmaceutical Co., CUSABIO Technology LLC, Synbio Technologies, GENEWIZ, Eurofins Scientific, Agilent Technologies, Kaneka Eurogentec S.A., and LGC, Biosearch Technologies. Thermo Fisher Scientific and Integrated DNA Technologies, Inc. hold a majority market share driven by their innovation capabilities, global presence and product portfolios.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it