May 24, 2024
Phosphoramidite Market

Global Phosphoramidite Market is Estimated to Witness High Growth Owing to Rising Application in Molecular Diagnostics

Phosphoramidite are chemical compounds that are widely used in DNA synthesis. They are useful intermediates in the solid-phase synthesis of modified oligonucleotides and nucleic acids. Various types of phosphoramidite such as dimethoxytrityl (DMT)-protected phosphoramidites, spacer phosphoramidites, and 2’-O-silyl protected phosphoramidites find applications in molecular diagnostics, pharmacogenomics studies, DNA sequencing, and forensics. The growing demand for advanced molecular diagnostic techniques is driving the need for phosphoramidite.

The global Phosphoramidite Market is estimated to be valued at US$ 1,011.3 MN in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the global Phosphoramidite Market are Glen Research, ChemGenes Corporation, Link Technologies Ltd., BioAutomation Corporation, Merck KGaA, Sigma-Aldrich (now part of MilliporeSigma, a Merck Group company), LGC Biosearch Technologies, Thermo Fisher Scientific, Biosynthesis Inc., ATDBio Ltd., Genscript Biotech Corporation, Expedeon AG, Wuxi Donglin Sci & Tech Development Co., Ltd., Bio-Synthesis Inc., and ChemGenes Corporation.

The key opportunities in the Global Phosphoramidite Market Size include increasing investments in R&D activities pertaining to genomics and proteomics. Phosphoramidites play a vital role in molecular diagnostics and the growing focus on precision medicine is expected to boost their demand over the forecast period. Moreover, rising demand for synthetic biology and large-scale DNA sequencing will further expand opportunities.

Globally, North America dominates the Phosphoramidite Market due to strong foothold of leading players and well-established pharmaceutical industry in the region. However, Asia Pacific is expected to witness highest growth over the coming years driven by expansion of pharmaceutical and biotechnology sectors in emerging countries such as China and India.

Market drivers
The primary driver boosting the growth of the Phosphoramidite Market is rising adoption of molecular diagnostic techniques. Phosphoramidites are extensively utilized in DNA and RNA synthesis which forms the basis of various modern genetic testing methods. Additionally, growing geriatric population and increasing incidence of chronic and infectious diseases is prompting healthcare providers to adopt sophisticated diagnostics powered by genomics. This in turn will trigger the demand for phosphoramidites over the forecast period. Surging investments in genomics and synthetic biology by private as well as public organizations will further provide a boost to market expansion.

PEST Analysis

Political: Government regulations determine the use of different chemicals in research and manufacturing, which impacts the demand for phosphoramidites. Regulations affect research funding and drug approvals.

Economic: Changes in economic conditions influence research spending levels, which in turn impacts demand from companies and academic institutions engaged in R&D activities. The affordability of new drugs also affects the healthcare sector.

Social: Rising aging population and increased incidence of diseases drive the need for new drug discovery and diagnostics. Social preferences around sustainability and environmental protection influence research trends over time.

Technological: Advances in polymerase chain reaction techniques, next generation sequencing, gene synthesis and synthetic biology applications are expanding the scope and applications of phosphoramidites. Continuous technological upgrades help improve the efficiency and precision of research processes.

Geographical regions where the market is concentrated in terms of value include North America and Europe. Strong research funding along with presence of leading pharmaceutical and biotechnology companies support the large market size in these regions.

The Asia Pacific region is the fastest growing market for phosphoramidites. This can be attributed to increasing healthcare expenditures, growing biomedical research in countries like China and India, and strategic expansion of international players targeting emerging markets. Rising investment in R&D activities by governments and private organizations is expected to further accelerate the market growth in Asia Pacific over the forecast period.

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