Oligonucleotide Synthesis Market is expected to reach US$ 3,971.72 million by 2027

Oligonucleotide Synthesis Market: Key Insights

According to our new research study on “Oligonucleotide Synthesis Market Forecast to 2027 – Global Analysis – by Product, Application, End User, and Geography,” the global oligonucleotide synthesis market size is estimated to reach US$ 3,971.72 million by 2027 from US$ 1,584.16 million in 2018; it is estimated to grow at a CAGR of 11.1% during 2019–2027.

The report highlights trends prevailing in the market and factors driving its growth. The oligonucleotide synthesis market trends are attributed to the rising applications of synthesized oligonucleotides, increasing investments for synthetic biology, and technological advancements in genome editing tools However, the growth of the market is restrained by factors such as renewed regulations for biotechnology.

North America held the largest share of the oligonucleotide synthesis market, with the US holding the largest market share, followed by Canada. The growth in North American oligonucleotide synthesis market is characterized by the presence of many biotechnology and pharmaceutical companies across the region, increasing focus of market players in the regional market, and rising prevalence of cancer in the region. Moreover, the US market is expected to witness growth opportunities owing to factors such as various government support initiatives for research and development. In addition, growth in the pharmaceutical & biopharmaceutical sector in the country is expected to support the market.

The increasing investments and rising funds dedicated to the manufacturing companies as well as academic and research institutes for the development of gene synthesis-based end products such as precision medicine and other therapeutics is one of the major driving factors. In 2016, according to an annual industry growth update published by SynBioBeta, a leading community of investors, entrepreneurs, and others, more than US$ 1 billion was invested in synthetic biology by various companies in the US and worldwide. According to the National Center for Biotechnology Information (NCBI), the US government offers approximately US$ 220 million every year toward synthetic biology research and development. Moreover, Defense Advanced Research Projects Agency (DARPA) offers funds for research in synthetic biology funding. For instance, DARPA invested nearly US$ 110 million in synthetic biology in 2014.

The US also has a large base of market players operating in the market. The companies also have been involved in various inorganic strategies to offer better products and develop their customer base. For instance, in April 2016, Microsoft Corp purchased 10 million long oligonucleotides from Twist Bioscience, a company accelerating science and innovation through rapid, high-quality DNA synthesis to encode digital data. This strategy would be helpful to increase the durability and the density of data storage during the future years.

Thus, owing to the above-mentioned factors, the oligonucleotide synthesis market is expected to witness growth opportunities in North America. In the recent past, QIAGEN launched its novel therascreen FGFR RGQ RT-PCR Kit in the US as a companion diagnostic for Janssen Biotech’s Balversa (erdafitinib). Janssen is a Johnson & Johnson company. In 2018, QIAGEN’s NGS sales were $140 million, projected to hit $190 million this year.

Increasing Investments for Synthetic Biology Expected to Fuel Oligonucleotide Synthesis Market Growth

Synthetic biology is an upcoming field and industry, which has numerous applications in the chemical, agriculture, pharmaceutical, and energy sectors. There are various start-up companies that are providing the products/services for biological processes. Benchling, GenScript, Ginkgo Bioworks, Transcriptis, and Glowee are among the companies operating in synthetic biology.

Globally, synthetic biology has set benchmark with its innovations and dynamic results. The industry has attracted various global leaders to invest for synthetic biology. For instance, synthetic DNA manufacturer DNA Script announced a Series A fundraising of 11 million euros ($13 million) led by Illumina Ventures, with additional investment from Merck Ventures BV, the corporate venture arm of Merck KGaA, plus existing investors Sofinnova Partners, Kurma Partners, and Idinvest Partners.

Also, in July 2018, Evonetix Awarded Innovate UK Funding for £1.3 million ($1.75M) Gene Synthesis Project. Innovate UK, the UK’s innovation agency, will co-fund the £1.3 million project, which will be undertaken in collaboration with Durham University. Furthermore, synthetic biology company Zymergen has received US$ 44 million funds in 2015 from investors such as Transcript, AME Cloud Ventures, Data Collective, Draper Fisher Jurvetson, HVF, Innovation Endeavors, Obvious ventures, True Ventures, and Two Sigma Ventures. In addition, in 2016, Zymergen raised US$130 million in Series B funding, which was led by SoftBank Group.

Thus, the rising investments for development of synthetic biology techniques is expected to support oligonucleotide synthesis market during the forecast period.

Oligonucleotide Synthesis Market: Segmental Overview

Product-Based Insights

The global oligonucleotide synthesis market, based on product, is segmented into synthesized oligonucleotides, reagents, and equipment. The synthesized oligonucleotide segment is further sub-divided into primers and probes. The synthesized oligonucleotides segment held the largest share among the product segment in the oligonucleotide synthesis market in 2018 and is also anticipated to follow a similar trend over the forecast period.

Application-Based Insights

The global market, based on application, is segmented into research, diagnostics, and therapeutics. The research segment accounted for the largest share in 2018.

End User-Based Insights

The global market, based on end user, is segmented into academic research institutes, pharmaceutical & biotechnology companies, diagnostic laboratories, and other end users. The academic research institutes segment held the largest market share in 2018.

Oligonucleotide Synthesis Market: Competitive Landscape and Key Developments

Thermo Fisher Scientific Inc; GenScript; Synthomics, Inc; Ansa Biotechnologies, Inc; Iridia, Inc; Helixworks; Keasling Lab; Molecular Assemblies; Twist Bioscience; Evonetix; DNA Script; Nuclera Nucleics Ltd; Camena Bio are among the leading companies in the market. The oligonucleotide synthesis market share is anticipated to flourish with the development of new innovative products by market players.

• In September 2018, Molecular Assemblies, Inc. announced the award of three patents, bringing the total to eight issued patents protecting the company’s proprietary enzymatic DNA synthesis technology in the US and Europe. The three issued patents are EP 3115462, US 10,041,110, and US 10,059,929.

• In June 2018, Twist Bioscience developed sample preparation products for customers performing next-generation sequencing experiments and analysis. The Twist Human Core Exome Kit includes all the tools needed for library construction, target capture, and enrichment to prepare a sample for sequencing.

• In October 2018, EVONETIX LTD received the award for “Best Emerging Synthetic Biology Company” at the 10th Anniversary of the Oxford Bioscience Network (OBN) Awards in recognition of the company’s novel gene synthesis technology, and its potential to facilitate the rapidly growing field of synthetic biology.

• In April 2018, Twist Bioscience Corporation expanded its business presence in Asia Pacific. The expansion aims to strengthen the strategic distribution partners for synthetic DNA and the exome and custom target enrichment product suite for next-generation sequencing. The company has entered into a strategy with Recenttec K.K. in Japan.

• In October 2018, EVONETIX LTD pioneering an innovative approach to scalable and high-fidelity gene synthesis, and LioniX International, a leading global provider of customised microsystem solutions in scalable production volumes, collaborated to scale up production of prototype microelectromechanical systems (MEMs) for DNA synthesis.

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