Albany, NY -- (SBWIRE) -- 08/30/2016 -- Oligonucleotide synthesis is considered indispensable in various life science research projects. Its applications range from simple molecular biology research to wider fields such as drug development, agriculture and food industry, medical diagnostic, and animal and plant studies. In its report, titled "Oligonucleotide Synthesis Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023," Transparency Market Research (TMR) discusses in detail the various factors influencing the market's trajectory.

For the purpose of the study, the market has been segmented on the basis of products, applications, and end users. Probe, reagent, primer, equipment, and synthesized oligonucleotide are the key products available in the market. Of these, the demand for synthesized oligonucleotide is likely to increase at a robust pace during the report's forecast period between 2016 and 2023. The segment is also expected to gain from the rising application across research, diagnostics, and therapeutics.

In terms of end users, the global oligonucleotide synthesis market is expected to witness rising demand from biotech firms, pharmaceutical industry, diagnostic laboratories, and research institutes. Among these, demand from diagnostic laboratories is expected to grow at a higher pace, following the uptake of new technologies such as real time polymerase chain reaction, polymerase chain reaction, and DNA microarrays in the segment.

By application, research, diagnostics, and therapeutics constitute the key segments in the global oligonucleotide synthesis market. Besides these, the market is expected to gain impetus from the increasing application in synthetic biology and molecular diagnostics. The rising investment in research and development activities in pharmaceutical and biotech companies is also expected to boost the market. Additionally, the accelerating government spending and venture capital funding have emerged as key factors fuelling demand in the global oligonucleotide synthesis market.

On the flip side, factors such as downward pressure pricing of therapeutic oligonucleotide and authoritarian factors could inhibit the market's trajectory.

Regionally, North America, Asia Pacific, Europe, and Rest of the World constitute the key segments in the global oligonucleotide synthesis market. Of these, Asia Pacific is expected to exhibit lucrative opportunities for the market. The increasing research and development activities and funding, and the rising access to synthesized oligos will boost demand for oligonucleotide synthesis in the region.

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With an aim of capitalizing on opportunities in Asia Pacific, several leading enterprises are looking to establish oligonucleotide manufacturing facilities in the region. Various companies have also expressed their interest in expanding their businesses across Asia Pacific. Spurred by these factors, the regional market is poised to grow exponentially in the forthcoming years.

Some of the key players operating in the global oligonucleotide synthesis market are GE Healthcare, Qiagen, Glen Research, Integrated DNA Technologies, Inc., BioAutomation Corporation, Link Technologies, Ltd., Thermo Fisher Scientific, Inc., BioSearch Technologies, Inc., and Nitto Denko Avecia, Inc.

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