The global oligonucleotide synthesis market was valued at $3.4 billion in 2021 and it is expected to reach $19.8 billion at a CAGR of 17.1% between 2022 and 2032. In research, genetic testing, drug development, and forensic applications, the need for custom-made nucleotides for the desired sequence have increased due to the falling cost of sequencing. As a result, oligonucleotide synthesis is more in demand across a variety of life science businesses.
Numerous ongoing genetic research investigations heavily rely on oligonucleotide manufacturing. The demand for a custom synthesis of several classes of oligos, such as decoys, aptamers, immune-stimulatory, antisense, siRNA, and miRNA, is expected to increase as genetic research funding increases. In addition, numerous oligos are undergoing late-stage clinical studies for a variety of ailments, including cancer, heart disease, muscle dystrophy, and ophthalmic abnormalities. The market is estimated to grow as a result of this anticipated regulatory approval for several oligonucleotide-based medicines.
The industry for oligonucleotide synthesis is fiercely competitive and offers biotechnology businesses significant growth potential. The market's expansion is primarily attributable to the increasing use of synthetic oligonucleotides in clinical and diagnostic applications, rising R&D spending and government funding for biotechnology and pharmaceutical research, declining sequencing costs, rising public and private spending on genomics, and rising venture capital investments.
Source: SAI Research
Moreover, the price of genome sequencing has significantly decreased as a result of recent developments in the field of genomics research. DNA sequencing is now much faster and less expensive thanks to NGS technology. In the realm of genomics research, sequencing is increasingly being utilized to comprehend the diversity of reproductive medicine, cancer, and infectious illnesses as well as to build genomes and examine the genetic basis of human disorders. Thus, it is predicted that the market will increase throughout the forecast period as a result of these emerging elements.
The high demand for custom oligonucleotide synthesis is rising. High-end customized oligos are becoming more and more necessary as the rate of research and development for novel goods in the synthetic biology segment accelerates. The contemporary market environment includes well-known companies with broadened distribution channels who have established players in both the equipment and services markets. The market for oligonucleotide synthesis has been able to maintain its upward growth trajectory because of the organized distribution channels present in the industry.
Based on product type, the synthesized product segment accounted for the largest share of this market and is also anticipated to accelerate the market growth over the forecast period. A higher percentage of synthesis products are the result of the widespread usage of synthesizers and consumables in PCR investigations, such as PCR primers. The segment is being driven by the development of new, reliable synthesizers that allow for the quick, mass manufacturing of lengthy oligonucleotide sequences. However, there has been a rise in the use of contract manufacturing services and consulting as a result of several benefits linked to contract service providers, including increased effectiveness, affordable services, and quick product creation. The future market expansion would be fueled by this.
In terms of application type, PCR primers have been growing in demand. This segment is anticipated to accelerate market growth in the future. PCR primers currently have the biggest revenue share in the oligonucleotide synthesis market thanks to the presence of a strong pipeline of oligonucleotide-based medicines, including antisense treatments, DNA vaccines, and antiviral drugs, in various stages of clinical development. The treatment of terminal diseases brought on by genetic abnormalities has also been changed by an increased focus on targeted gene therapy.
Geographically, the North American region has led the market growth over the past few years with a significant share. Companies in the pharmaceutical and biotechnology sectors are concentrating on finding new methods of treating diseases. Moreover, the Asia-Pacific region is also expected to grow and become the second-fastest market during the forecast period. The strong presence of pharmaceutical and biotechnology businesses, the growing outsourcing of research to CROs, the expansion of R&D funding and activities, and the expanding availability of synthesized oligonucleotides are some of the key drivers of this market's growth in the Asia-Pacific region.
According to the study, key players such as Agilent Technologies (U.S), ATD Bio (U.K), Ajinomoto (Japan), Cinven Group (U.K), Bio-Synthesis (U.S), DNA Technologies (India), Danaher Corporation (U.S), E. Merck KG (Germany), Eurofins Scientific (France), General Electric (U.S), Kaneca Corporation (Japan), PerkinElmer (U.S), Thermo Fisher Scientific (U.S), Tri-Link Biotechnologies (U.S), among others are leading the global oligonucleotide synthesis market.
|Market Size in 2021
|US$ 3.4 Billion
|Market Volume Projection by 2032
|US$ 19.8 Billion
|Forecast Period 2022 to 2032 CAGR
|2019, 2020 and 2021
|2022 to 2032
By Product Type: Synthesized Products, Reagents, Equipment, Services & Others
By Application Type: PCR Primers, PCR Assays and Panels, Sequencing, Antisense Oligonucleotide, Diagnostics, Therapeutics & Others
North America, Europe, Asia-Pacific, LAMEA
|Agilent Technologies (U.S), ATD Bio (U.K), Ajinomoto (Japan), Cinven Group (U.K), Bio-Synthesis (U.S), DNA Technologies (India), Danaher Corporation (U.S), E. Merck KG (Germany), Eurofins Scientific (France), General Electric (U.S), Kaneca Corporation (Japan), PerkinElmer (U.S), Thermo Fisher Scientific (U.S), Tri-Link Biotechnologies (U.S), among others.
The Global Oligonucleotide Synthesis Market – by Product Type:
The Global Oligonucleotide Synthesis Market – by Application Type:
The Global Oligonucleotide Synthesis Market – by Regions: