According to Emergen Research, the global oligonucleotide synthesis market size was USD 4.48 billion in 2020 and is expected to reach USD 11.17 billion in 2028 and register a revenue CAGR of 12.8% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Oligonucleotide Synthesis Market, By Product Type (Linkers, Synthesized Oligonucleotides, Equipment, Probes, Adaptors, Reagents), By Application (Therapeutics, Diagnostics, Research), By End-use (Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Research Laboratories, Others), and By Region Forecast to 2028”
According to Emergen Research, the global oligonucleotide synthesis market size was USD 4.48 billion in 2020 and is expected to reach USD 11.17 billion in 2028 and register a revenue CAGR of 12.8% during the forecast period, 2021-2028.
Market Dynamics:
The global oligonucleotide synthesis market revenue growth is primarily attributed to factors such as increasing prevalence of acute and chronic diseases worldwide, rising demand for personalized medicine, increasing therapeutic applications of synthesized oligos, and rising government investments in research & development activities in the pharmaceutical and biotechnology sectors. Increasing patient pool, rising volumes of diagnostic and therapeutic procedures for various diseases, and technological advances in the fields of synthetic biology and genomics are among the other major factors expected to drive the global market revenue growth in the coming years.
The COVID-19 pandemic has led to a higher demand for oligonucleotide synthesis products, which are extensively being used in the development of coronavirus test kits, vaccines, and therapeutics. For instance, Switzerland-based Microsynth AG manufactured key reagents including primer-probe sets for PCR testing labs in April 2020 to help various molecular diagnostic companies develop cutting-edge COVID-19 detection methods and test kits. Moreover, in June 2020, American biotechnology company Bio-Synthesis Inc. produced ready-to-use cocktail mixes, including the SARS-CoV-2 N1 Oligo Mix, SARS-CoV-2 N2 Oligo Mix, and the Human RNase P (RP) Oligo Mix, to support COVID-19 research programs.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Synthesized Oligonucleotides Segment Accounted for Largest Revenue Share in 2020:
Based on product type, the global oligonucleotide synthesis market is segmented into Linkers, Synthesized Oligonucleotides, Equipment, Probes, Adaptors, and Reagents. The synthesized oligonucleotides segment dominated other segments in terms of largest revenue share in the global market in 2020. Synthesized oligonucleotides are specified nucleic acid fragments that generate genes for proteins. Increasing use of synthesized oligonucleotides in pharmaceutical and biotechnological research & development activities is one of the major factors driving this segment’s revenue growth.
Pharmaceutical & Biotechnology Companies Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global oligonucleotide synthesis market is segmented into Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Research Laboratories, and Others. The pharmaceutical and biotechnology companies segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Rising demand for oligonucleotide-based pharmaceutical drugs for treatment of various chronic and acute diseases and increasing government investments in pharmaceutical and biotechnological R&D activities are among the key factors driving the revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
The North America oligonucleotide synthesis market was the most dominant in terms of largest revenue share in the global market in 2020 due to many favorable factors. Rising focus on development of personalized medicine, increasing demand for oligonucleotide-based drugs and therapeutics, rise in pharmaceutical and biotechnological research & development projects, and continuous technological advancements in synthetic biology and genomics are key market revenue growth drivers.
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Major Companies in the Global Oligonucleotide Synthesis Market Include:
- GeneDesign, Inc.
- Sarepta Therapeutics, Inc.
- Thermo Fisher Scientific
- Bio-Synthesis, Inc.
- Agilent Technologies, Inc.
- Biogen Idec International GmbH
- Nitto Denko Avecia, Inc.
- ATDBio Ltd.
- Integrated DNA Technologies, Inc.
- GenScript, Inc.
For the purpose of this report, Emergen Research has segmented the global oligonucleotide synthesis market based on product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Linkers
- Synthesized Oligonucleotides
- Equipment
- Probes
- Adaptors
- Reagents
Application Outlook (Revenue, USD Billion; 2018-2028)
- Therapeutics
- Diagnostics
- Research
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical & Biotechnology Companies
- Hospitals & Clinics
- Research Laboratories
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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