Report : Oligonucleotide Synthesis Market to 2027- Global Analysis and Forecasts By Product (Synthesized Oligonucleotides, Reagents, and Equipment), Application (Research, Diagnostics, and Therapeutics), End User (Academic Research Institutes, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, and Other End Users), and Geography
Increasing Applications of Synthesized Oligonucleotides is driving the market for Oligonucleotide Synthesis over the forecast period.
According to The Insight Partners market research study titled 'Oligonucleotide Synthesis market - Global Analysis and Forecasts by Product, Application and End User. The global oligonucleotide synthesis market is expected to reach US$ 3,971.7 Mn in 2027 from US$ 1,584.2 Mn in 2018. The market is estimated to grow with a CAGR of 11.1% from 2019-2027. The report highlights the trends prevalent in the global oligonucleotide synthesis market and the factors driving the market along with those that act as deterrents to its growth.
The oligonucleotide synthesis market by product is segmented into synthesized oligonucleotides, reagents and equipment. In 2018, the synthesized oligonucleotides segment held a largest market share of 48.3% of the oligonucleotide synthesis market, by product. This segment is also expected to dominate the market in 2027 owing to its benefits offered in applications such as research, diagnostics and therapeutics. In addition to diagnostic and therapeutic purpose, oligonucleotides are also used for designing DNA microchips that are used as a powerful bio-analytical tool and novel material in the field of nanotechnology.
Increasing applications of synthesized oligonucleotides, increasing investments for synthetic biology and technological advancements genome editing tools are the key driving factors for the growth of the market in the forecast period. However, the growth of the market is restrained by factors such as renewed regulations for biotechnology and lack of skilled professionals in life science industry.
Some of the players operating in oligonucleotide synthesis market are, Molecular Assemblies, Twist Bioscience, Evonetix, Nuclera Nucleics Ltd., Camena Bio, DNA Script, Iridia, Inc., Helixworks, Ansa Biotechnologies, Inc., and Synthomics, Inc., among others. The market players have been establishing partnerships as well as collaborations in the market, which enables them to hold a strong position in the market. For instance, 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.The developments performed by the companies are helping the market to grow in the coming years.
The report segments the global oligonucleotide synthesis market as follows:
Global Oligonucleotide Synthesis market - By Product
Global Oligonucleotide Synthesis market - By Application
Global Oligonucleotide Synthesis market - By End User
Global Oligonucleotide Synthesis market - By Geography
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