Press release
Oligonucleotide Synthesis Market Top Business Strategy, Industry Growth Factors, Latest Trends and Future Opportunities Analysis
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall oligonucleotide synthesis market and its subsegments. It will also help stakeholders better understand the competitiv
Oligonucleotide Synthesis Market [https://www.marketsandmarkets.com/Market-Reports/oligonucleotide-synthesis-market-200829350.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] in terms of revenue was estimated to be worth $8.8 billion in 2024 and is poised to reach $19.7 billion by 2029, growing at a CAGR of 17.5% from 2024 to 2029 according to a new report by MarketsandMarkets Trademark .
One of the key factors driving the market growth is the growing acceptance of alternate therapies such as oligonucleotide-based therapies for the treatment of neurological and rare diseases. The incorporation of synthesized oligonucleotides to treat various diseases also supports market growth.
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Probes accounted for the second-largest segment of the synthesized oligos product segment in 2023.
Probes are an important subsegment in the market for synthesized oligonucleotides. The segment accounted for the second-largest market share of the synthesized oligonucleotide market. This is due to high specificity and sensitivity of probes allowing their use in genetic research, pathogen detection, clinical diagnostics, and the study of gene expression patterns, offering insights into diverse biological processes and disease mechanisms. Techniques such as fluorescence in situ hybridization (FISH) utilize these probes for the detection of various genetic abnormalities that the root cause of several birth defects, neurological conditions and cancers among others.
Hospitals accounted for the largest share of the end-user segment in the oligonucleotide synthesis market in 2023.
By end user, hospitals accounted for the largest share of the oligonucleotide synthesis market in 2023. Growth in this market is largely driven by the significant number of FDA-approvals for oligonucleotide-based drugs especially antisense oligonucleotide drugs for rare and neurological diseases, increasing awareness towards alternative therapies and growing health-care spending. Ongoing research to develop oligonucleotide-based drugs for more common diseases such as cardiovascular diseases, supported by availability of reimbursement policies in developed economies are aiding this segment's growth.
The PCR subsegment accounted for the largest share of the research applications segment in the oligonucleotide synthesis market in 2023.
In 2023, PCR accounted for the largest share of the research application subsegment of the oligonucleotide synthesis market. PCR technologies such as real-time PCR or quantitative PCR (qPCR) used for both qualitative and quantitative analysis in the fields of molecular diagnostics, medicine, microbiology, and forensic biology are driving end-user demand. These PCR applications utilize sequence-specific primers, thus boosting the market for oligos (which are used as probes and primers) in the PCR market.
North America to register the highest CAGR in the oligonucleotide synthesis market.
The North America region is expected to show the highest CAGR of the oligonucleotide synthesis market. The growing investments in research and development by major pharmaceutical & biotechnology companies, increasing application of oligonucleotides in pharmaceutical drug research, and growing public & private sector investments in genomics and related technologies are expected to aid market growth in the North America.
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Oligonucleotide Synthesis Market Dynamics:
Drivers:
* Increasing use of synthesized oligos in therapeutic and diagnostic applications
* Technological advancements
* Growing government investments in life science research and synthetic biology
* Growing focus on precision/personalized medicine
Restraints:
* Complexities associated with therapeutic oligonucleotides
Opportunities:
* Increasing R&D investments by key players in emerging economies
Challenge:
* Lack of standard regulations
* Delivery of oligonucleotide drugs to specific targets
Key Market Players of Oligonucleotide Synthesis Industry:
Some leading players operating in the oligonucleotide synthesis market are Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Eurofins Scientific (Luxembourg), LGC Limited (UK), Agilent Technologies, Inc. (US), Kaneka Corporation (Japan), Maravai Lifesciences holdings, Inc. (US), Azenta, Inc. (US), Twist Bioscience Corporation (US) and Genscript Biotech Corporation (US). Major players in the oligonucleotide therapeutics market are Biogen Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), Astrazeneca (UK), Astellas Pharma Inc. (Japan), Jazz Pharmaceuticals Plc (Ireland), Nippon Shinyaku, Co. Ltd. (Japan), Ionis Pharmaceuticals, Inc. (US) and Novartis AG (Switzerland).
The primary interviews conducted for this report can be categorized as follows:
* By Respondent: Supply Side- 70% and Demand Side - 30%
* By Designation: Managers- 45%, CXOs, and Director level - 30%, and Executives - 25%
* By Region: North America -35%, Europe - 25%, Asia-Pacific -15%, Latin America -10%, Middle East- 10%, Africa- 5%
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=200829350 [https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=200829350&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr]
Recent Developments of Oligonucleotide Synthesis Industry:
* In November 2023, LCG Biosearch Technologies, a business unit of LGC Limited, acquired PolyDesign to enhance its oligonucleotide synthesis capabilities using PolyDesign's frit technology.
* In October 2023, Integrated DNA Technologies (IDT), a subsidiary of Danaher Corporation, opened its therapeutic oligonucleotide manufacturing facility in Coralville, Iowa. This facility will produce reagents for cGMP cell & gene therapy, including single-guide RNAs and HDR donor oligos.
Oligonucleotide Synthesis Market - Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall oligonucleotide synthesis market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide information on the key market drivers, restraints, challenges, trends, and opportunities.
The report provides insights on the following pointers:
* Analysis of key drivers (e.g., Increasing use of synthesized oligos in therapeutic and diagnostic applications, Technological advancements), restraints (e.g., complexities associated with oligonucleotide-based drugs), opportunities (e.g., increasing pharma R&D investments in emerging economies), and challenges (e.g., lack of standard regulations) are influencing the growth of the oligonucleotide synthesis market.
* Product Approvals: Detailed insights on newly approved products of the oligonucleotide synthesis market.
* Market Development: Comprehensive information about lucrative markets - the report analyses the oligonucleotide synthesis market across varied regions.
* Market Diversification: Exhaustive information about new products, recent developments, and investments in the oligonucleotide synthesis market.
* Pipeline Analysis: Comprehensive information about products under clinical trials.
* Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players including Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), among others offering products for research & diagnostic applications and Biogen Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US) among others offering products for therapeutic applications.
Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=oligonucleotide-synthesis-market-top-business-strategy-industry-growth-factors-latest-trends-and-future-opportunities-analysis]
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/oligonucleotide-synthesis-market-200829350.html
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