Oligonucleotide Synthesis Demand Is Poised To Flourish At A CAGR Of 11.5% To Reach A Value Of US$ 17 Billion By The End Of 2032.
24 Aug 2022
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By Product Segment, The Oligonucleotide-Based Drugs Segment Accounted For The Largest Share Of The Oligonucleotide Synthesis Market.
By Application, The Therapeutic Application Segment Accounted For The Largest Share Of The Oligonucleotide Synthesis Market.
Fact.MR has projected the oligonucleotide synthesis market to accelerate at an 11.3% CAGR between 2022 and 2032 in comparison to the 11.1% CAGR throughout the historic period. Biotechnology & pharmaceutical companies emerge as key end-users of oligonucleotide synthesis and are poised to register a robust CAGR of 15.5% through 2032.
The global oligonucleotide synthesis market is likely to be valued at US$ 5.7 Billion in FY 2022, up from US$ 5.2 Billion in 2021.
Demand for oligonucleotide synthesis in therapeutics will continue to thrive, with a documented CAGR of 18.4% during the 2015-2021 historical period of assessment, while demand for oligonucleotide synthesis in research proliferated at a rate of 10.0% during the same period. North America will dominate the global market, registering a growth opportunity worth US$ 2.25 Billion from 2022 to 2032.
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Key Takeaways:
North America continues to reign supreme in the oligonucleotide synthesis market, led by the United States & Canada.
The Asia Pacific is poised to expand most rapidly amongst all the regional markets during the forecast period, owing to its emergence as the world’s most promising life science research hub.
Increasing adoption of oligonucleotide synthesis across homes to small enterprises in China is driving the foresaid market.
Department of Biotechnology (DBT), New Delhi, and Council of Scientific and Industrial Research (CSIR), New Delhi are working towards backing activities related to oligonucleotide synthesis.
The regional market is expected to multiply at a staggering CAGR of 12.5% to surpass US$ 1.73 Billion throughout the conjecture period.
Usage of oligonucleotide synthesis in therapeutics is expected to grow at a stellar CAGR of 18.4% during the forecast period.
COVID-19 Impact on the Global Oligonucleotide Synthesis Market
COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic. The World Health Organization (WHO) officially declared the outbreak of COVID-19 a pandemic. A mix of established pharmaceutical and biopharmaceutical companies, along with the players of the oligonucleotide synthesis market, have stepped forward to contribute to worldwide research efforts by providing oligo products for developing test kits, treatments, and vaccines that target the infection caused by the novel Coronavirus.
Recent Developments
In 2020, Danaher Corporation (US) opened IDT China, an official business entity, to better serve its customer base in the region, reach out to new customers, and provide easier access to its complete portfolio of industry-leading products.
In 2020, Danaher (US) acquired the Biopharma business from General Electric Company's (US) Life Sciences division. This subsidiary is called ‘Cytiva’ and will act as a standalone operating company within Danaher's Life Sciences segment. This acquisition strengthened Danaher’s position in the oligo synthesizer and reagents market.
In 2020, Microsynth AG (Switzerland) launched Primer-Probe Sets for SARS-CoV-2.
In 2020, LGC Limited (UK) partnered with the Paraná Institute of Molecular Biology (IBMP) (Brazil) to supply reliable, high-quality custom GMP oligonucleotides and molecular products to develop a new molecular test for ZDC (zika, dengue, and chikungunya).
In 2019, Thermo Fisher Scientific (US) entered into an agreement with BioNTech SE (Germany). Under the agreement, Thermo Fisher supplies nucleotides, enzymes, and other critical raw materials to support BioNTech's messenger RNA (mRNA) manufacturing platform. The four-year, nonexclusive licensing and supply agreement gives BioNTech rights to use Thermo Fisher's technologies as part of its clinical and commercial manufacturing processes.
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Competitive Landscape
Prominent Oligonucleotide Synthesis providers are reliant on partnerships, collaborations, acquisitions, and new software launches to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.
In January 2021, Thermo Fisher Scientific Inc., the world leader in serving science, and Groupe Novasep SAS (Novasep), a leading supplier of services and technologies for the life sciences industry announced that Thermo Fisher has completed the acquisition of Henogen S.A., Novasep’s viral vector manufacturing business in Belgium for approximately 725 Million Euros in cash.
In June 2019, CordenPharma International and GE Healthcare’s Dharmacon Business have entered a strategic collaboration to create an end-to-end solution for oligonucleotide-based drug discovery. The collaboration addressed the speed and capacity challenges researchers face when transitioning from research and preclinical stages to drug development and clinical trials.
Key Segments Covered in the Oligonucleotide Synthesis Industry Survey
Oligonucleotide Synthesis by Product:
Oligonucleotide Synthesis Reagents & Consumables
Oligonucleotide Synthesis Equipment
Synthesized Oligonucleotides:
DNA Oligonucleotides
RNA Oligonucleotides
Other Oligonucleotide Synthesis Products
Oligonucleotide Synthesis by Application:
Research
Polymerase Chain Reaction (PCR)
Next-Generation Sequencing
Others
Therapeutics
Antisense Oligonucleotides
Nucleic Acid Aptamers
Diagnostics
Oligonucleotide Synthesis by End User:
Biotechnology & Pharmaceutical Companies
Research Institutes
Diagnostic Laboratories
Oligonucleotide Synthesis by Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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