Oligonucleotide Synthesis Market Research Report Gives in Detailed Analysis of Industry Segments, Opportunities, Growth and Size That Will Help Your Business Grow.
Northbrook, IL -- (SBWIRE) -- 11/24/2021 -- This report aims to provide detailed insights into the Oligonucleotide Synthesis Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Revenue Growth Analysis:
[246 Pages Report] The global oligonucleotide synthesis market is projected to reach USD 14.1 billion by 2026 from USD 6.3 billion in 2021, at a CAGR of 17.6%.
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Key Factors Driving Market Growth:
The major factors driving the growth of this market include the increasing use of synthesized oligos in therapeutic applications, increasing government funding, and the growing focus on personalized medicine.
Increasing government investments for synthetic biology and genome projects
In recent years, governments in various countries have made significant investments in projects related to the field of synthetic biology and genomics. These government investments have played a major role in the development of new technologies. Oligos form an integral part of these technologies and increasing funding & developments in these fields will drive market growth for oligonucleotides
By product segment, the oligonucleotide-based drugs segment accounted for the largest share of the oligonucleotide synthesis market in 2020.
Based on product, the oligonucleotide synthesis industry is segmented into oligonucleotide-based drugs, synthesized oligonucleotides, reagents, and equipment. In 2020, the oligonucleotide-based drugs segment held the largest share of the market. The increasing number of FDA-approved drugs and a rich clinical pipeline of oligonucleotide-based drugs are factors expected to drive the growth of these therapeutics in the coming years.
These ongoing government-sponsored projects will lead to improvements in genomic technologies, specifically in DNA sequencing, DNA amplification, NGS, and gene expression. Also, oligos form an integral part of these technologies; therefore, an increase in government-funded projects will positively impact the overall growth of the oligonucleotide synthesis market.
Hospitals accounted for the largest share of the Oligonucleotide Synthesis Market, by end user, in 2020
Based on end user, the DNA Synthesis Industry is segmented into academic research institutes, diagnostic laboratories, pharmaceutical & biotechnology companies, and hospitals. Hospitals accounted for the largest share of the DNA Synthesis Market in 2020. Growth in this end-user segment is largely driven by the significant number of inpatient and outpatient visits in hospitals and the high requirement of oligonucleotide drugs to cater to the demand from the vast patient pool suffering from diseases such as Duchenne muscular dystrophy, spinal muscular atrophy, and hepatic veno-occlusive disease.
North America was the largest regional market for oligonucleotide synthesis in 2020
In 2020, North America accounted for the largest market share. The large share of this region can be attributed to the increasing R&D in life sciences, rising focus on improving the safety & quality of healthcare, rising demand for high-quality research tools for data reproducibility, and increasing focus on developing personalized therapeutics. The presence of many global players in this region is another key factor contributing to the large share of this market segment.
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Key Market Players:
The oligonucleotide synthesis market is dominated by a few globally established players such as Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), LGC Limited (UK), Maravai Life Sciences (US), Biogen Inc. (US) and Sarepta Therapeutics, Inc. (US).