Global Oligonucleotide Synthesis Market Report and Forecast 2024-2032

Global Oligonucleotide Synthesis Market Outlook

The global oligonucleotide synthesis market reached a value of about USD 3.04 billion in 2023. The industry is further expected to grow at a CAGR of about 13.1% in the forecast period of 2024-2032 to reach a value of around USD 9.21 billion by 2032.    

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North America to be a Significant Regional Market for Oligonucleotide Synthesis

North America was a significant regional market for oligonucleotide synthesis and is expected to continue its prominent presence in the market in the coming years as well. The growing importance of life sciences research and development, attributed to this region's rising focus on improving the safety and quality of healthcare, the rising demand for high-quality research tools for data reproducibility, and the increasing focus on developing personalised therapeutics, has been catalysing the market for oligonucleotide synthesis. The Asia Pacific is also expected to witness a healthy growth within the oligonucleotide synthesis industry in the coming years. The increasing availability of synthesised oligonucleotides, the strong presence of pharma and biotech companies, and the growing research outsourcing to CROs are some of the major factors supporting the growth of the oligonucleotides synthesis industry in the Asia Pacific region. The existence of better healthcare infrastructure and the increasing usage of oligonucleotides by pharmaceutical companies of the region, and many strategic collaborations among the key players in the market are expected to further boost the growth of the oligonucleotide synthesis industry in the region. For instance, in 2020, IDT (United States) opened IDT China, an official business entity in China to better serve its customer base in the region, to reach out to new customers, and provide easier access to its complete portfolio of industry-leading products, including custom DNA and RNA oligos, probes, and primers.

Oligonucleotide Synthesis: Market Segmentation

Synthetic oligonucleotides are single-stranded DNA fragments that have been chemically synthesised into short stretches. The technique is extremely useful in the laboratory because it provides rapid and inexpensive access to custom-made oligonucleotides of the desired sequence. It is also useful for carrying out the molecular diagnosis in several diseases, including detection of infectious diseases, such as hepatitis, SARS-COV2, and for the diagnosis of cancer.

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By product, the market can be segmented into:

• Oligonucleotides 
  • Breakup by type:
    • Column-Based Oligos
    • Array-Based Oligos
  • Breakup by Nucleic Acid Type
    • DNA Oligos
    • RNA Oligos
• Equipment/Synthesiser  
• Reagents  
• Services 
  • Based on type:
    • Oligo Synthesis
  • Based on quantity:
    • 25 nmol
    • 50 nmol
    • 200 nmol
    • 1,000 nmol
    • 10,000 nmol
• Purification
• Modification

Based on application, the oligonucleotide synthesis industry is segmented into:

• PCR Primers
• PCR Assays-Panels
• Sequencing
• DNA Microarrays
• Fluorescence in Situ Hybridisation (FISH) 
• Antisense Oligonucleotides  
• Others

On the basis of end use, the market is classified into:

• Academic Research Institutes
• Diagnostic Laboratories 
• Pharmaceutical-Biotechnology Companies

The regional markets for oligonucleotide synthesis can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rise in Research and Development Activity in Synthetic Oligonucleotide Boosting the Market Growth

The rise in research and development expenditure by the pharmaceutical and biotechnology companies to produce oligonucleotide products with increased therapeutic potential and fewer side effects is one of the factors that is fuelling the growth of the market. The rise in government support for synthetic biology and genome projects and robust research is expected to further drive the growth of the market. The development of new technologies has been aided greatly by government investments. Oligonucleotides are an important part of these technologies, and increased funding and development in these fields is expected to drive the market growth of oligonucleotide synthesis. These ongoing government-sponsored projects are anticipated to improve genomic technologies, particularly DNA sequencing, DNA amplification, next-generation sequencing (NGS), and gene expression.

Growing applications of synthesised oligonucleotides in molecular diagnostics and clinical applications and rise in demand for high-end customised oligos and upgradation in the purification of synthetic oligonucleotides is also boosting the growth of the oligonucleotide synthesis industry.  In recent years, this market has been witnessing a significant rise in the acquisition of various small-scale oligonucleotide synthesis companies by major key players to broaden their product and service offerings and expand their presence in the oligonucleotide synthesis industry, which is further aiding the market growth. Also, the advances in enzyme failure correction technology have reduced the occurrence of synthesis errors and are expected to aid the growth of the market in the coming years.

Key Industry Players in the Global Oligonucleotide Synthesis Market

The report gives a detailed analysis of the following key players in the global oligonucleotide synthesis market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Thermo Fisher Scientific Inc.
• Eurofins Scientific SE
• Merck KGaA 
• Agilent Technologies, Inc.  
• Bio-Synthesis Inc. 
• LGC Biosearch Technologies 
• Others 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. 

Key Highlights of the Report