by Oligonucleotides refer to short nucleic acid polymers that can be used as probes to detect complementary sequences. They find applications in molecular biology, genetic engineering, drug discovery and development among others. With increasing focus on precision medicine and development of new therapeutic candidates, the demand for oligonucleotides is growing significantly. The global Oligonucleotide Synthesis Market offers innovative tools and reagents that help accelerate drug research. Oligonucleotides are used as primers, probes and gene-synthesis oligos to diagnose diseases and to develop personalised treatments.
The global oligonucleotide synthesis market is estimated to be valued at US$ 4565 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Market key trends:
One of the key trends propelling the Oligonucleotide Synthesis Market Size And Trends growth is the increasing applications of oligonucleotides in drug discovery and development. Oligonucleotides have emerged as an important class of therapeutics in recent years. Several oligonucleotide-based drugs are in clinical trials or have received regulatory approval for treating different medical conditions like cancer, retinal diseases and neuromuscular diseases. Pharmaceutical companies are investing heavily in oligonucleotide-based drug pipelines which is expected to drive the demand for oligonucleotide synthesis over the forecast period.
SWOT Analysis
Strength: Synthetic oligonucleotides are highly specific and suitable for various genetic applications. Oligonucleotides can be synthesized in large quantities through automation.
Weakness: High capital investment is required for automated oligonucleotide synthesis. Purification of synthetic oligonucleotides is a complex and expensive process.
Opportunity: Growing applications of oligonucleotides in genetic engineering and therapeutics is boosting market growth. Rising R&D spending on precision medicine will create new opportunities.
Threats: Stringent regulations can delay new product approvals. Intense competition from market players can reduce profit margins.
Key Takeaways
The global Oligonucleotide Synthesis Market is expected to witness high growth over the forecast period of 2023 to 2030. Synthetic oligonucleotides are gaining acceptance in applications like next-generation sequencing, PCR, gene therapy, and diagnostics.
Regional analysis
North America is anticipated to dominate the market during the forecast period. Presence of major pharmaceutical and biotech companies and growing academic and government investments in research are driving market growth in the region. Asia Pacific is expected to exhibit fastest growth owing to increasing R&D spending and growing healthcare expenditure in countries like China and India.
Key players
Key players operating in the Oligonucleotide Synthesis Market are Finish Line, White Lightning, Tri-Flow, Pedro’s, Park Tool, Muc-Off, Shimano, WD-40 Bike, Motorex, Rock N Roll, Maxima, Boeshield, Squirt, Morgan Blue, Mazola, Castrol, Weldtite, Phil Wood, ProGold. Major players are focusing on new product launches, partnerships, and expansions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
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