Global Oligonucleotide Synthesis Market to Increase at a CAGR of 13.1% in the Forecast Period of 2024-2032, Aided by Rising Research and Development Activities

The role of favourable government initiatives for the funding and increased research and development activities in pharmaceutical and biotechnology companies is leading to growth in the oligonucleotide synthesis market. In addition, the rising prevalence of synthesized oligos used in molecular diagnostics and clinical applications is the factor for rising market growth. North America has been a dominant regional market for oligonucleotide synthesis and is likely to continue its dominance in the market in the forecast period. The rising importance of life sciences research and development, owing to this region's rising focus on improving the safety and quality of healthcare, and the increasing focus on developing personalised therapeutics, has been catalysing the market for oligonucleotide synthesis. In addition, the ongoing government-sponsored projects are anticipated to improve genomic technologies, particularly DNA sequencing, DNA amplification, next-generation sequencing (NGS), and gene expression.

Several major and emerging oligonucleotides manufacturers are expanding their businesses through collaboration with pharmaceutical manufacturers. For instance, in August 2021, Agilent Technologies Inc. (NYSE: A) announced that its PD-L1 IHC 22C3 pharmDx assay had expanded its application in Europe. The assay is now CE-IVD marked for use to identify oesophageal cancer patients for treatment with KEYTRUDA using Combined Positive Score.

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Market Analysis by Product, Applications, End-Use, and Regions:

• Based on product, the market is divided into oligonucleotides, equipment/synthesiser, reagents, and services.

• Based on application, the oligonucleotide synthesis industry can be segmented into PCR primers, PCR assays-panels, sequencing, DNA microarrays, fluorescence in situ hybridisation (FISH), and antisense oligonucleotides, among others.

• Based on end-use, the market is classified into academic research institutes, diagnostic laboratories, and pharmaceutical-biotechnology companies.

• The regional markets for oligonucleotide synthesis include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing demand for high-quality research tools for data reproducibility is expected to boost market growth.

• The increasing demand for oligonucleotide synthesis technologies by public and private research firms is also fuelling the market growth.

• The development of new technologies aided by government investments is expected to boost the market in the forecast period.

• The developments in enzyme failure correction technology have deducted the occurrence of synthesis errors and are likely to boost the market's growth in the coming years.

Key Offerings of the report:

• The EMR report gives an overview of the global oligonucleotide synthesis market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for the product, applications, end-use, and major regions of oligonucleotide synthesis.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the oligonucleotide synthesis market are Thermo Fisher Scientific Inc., Merck KGaA, Eurofins Scientific SE, Inc., Bio-Synthesis Inc., Agilent Technologies, and LGC Biosearch Technologies, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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