Dublin, March 20, 2023 (GLOBE NEWSWIRE) -- The "Oligonucleotide Synthesis Market, By Product, By Application, By End-User, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global market for oligonucleotide synthesis is projected to grow at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period, reaching a market size of USD 5.71 Billion by 2021.
The market growth is being fueled by a variety of factors, including government investments in pharmaceutical and biotechnology projects, rising demand for customized oligos, and advancements in purification techniques. Additionally, the use of synthesized oligonucleotides in molecular diagnostics and clinical applications is contributing to the market's revenue growth.
Oligonucleotides have gained importance as a new class of biopharmaceuticals due to their critical role in gene regulation, enabling the creation of customized medicines. The increasing number of Food and Drug Administration (FDA) approvals of ON-based medicines, as well as the need for high-quality chemically modified ONs, are also driving the revenue growth of the market.
Oligonucleotide synthesis is used for various applications in medicine and life science research, including as primers for sequencing and amplification, probes for detecting complementary DNA or RNA, synthesis of artificial genes, and tools for targeted genetic mutations. The increasing availability of oligonucleotide synthesizers for commercial purposes is expected to drive the revenue growth of the market. Recent collaborations between companies such as SpeeDx Pty, Ltd. and SynGenis Pty Ltd. aim to strengthen the production and supply of critical raw materials needed in molecular diagnostics.
Oligonucleotides can be customized to hybridize with specific pathogenic DNA or RNA, which makes them highly targetable with minimal side effects. They are used in screening assays for diseases such as tuberculosis, malaria, and HIV. Rising demand for genetic testing due to an increase in the incidence of genetic illnesses, such as cancer, requires large oligo production capabilities and quick turnaround times. Oligonucleotide therapies have better target selectivity and fewer off-target effects than small molecules, making them promising for neurological illnesses, cancer, and orphan diseases. However, concerns regarding the complexities associated with therapeutic oligos and issues related to drug delivery to specific targets may restrain revenue growth of the market.
Market Dynamics
Market Drivers
- Growing Investments by Governments in Pharmaceutical & Biotechnology Projects
- Rising Demand for High-End Customized Oligos and Upgradation in Purification
- Increasing Usage of Synthesized Oligonucleotides in Molecular Diagnostics and Clinical Applications
Market Restraints
- Concerns Regarding Complexities Associated With Therapeutic Oligos
- Issues Related to the Delivery of Oligonucleotide Drugs to Specific Targets
Key Takeaways
Product Outlook
Product segmentation is one of the ways in which the global oligonucleotide synthesis market has been classified. This segmentation includes synthesized oligonucleotides, oligonucleotide-based drugs, equipment, and reagents, which are further divided into product and type. The synthesized oligonucleotides segment is expected to grow significantly during the forecast period due to its wide range of applications, such as PCR primers. Synthetic oligonucleotides are used in various applications such as DNA sequencing, gene expression, cloning, and molecular diagnostics.
Application Outlook
The global oligonucleotide synthesis market has also been segmented based on its application, which includes research, therapeutic, and diagnostic. The therapeutic segment is expected to see substantial revenue growth due to the potential of oligonucleotide drugs for treating a wide range of disorders. Specific structural alterations in oligonucleotide therapy, such as changes in the nucleotide backbone or sugar moieties, improve its safety and efficacy, making it more effective in treating various diseases.
End-User Outlook
Lastly, the global oligonucleotide synthesis market has been segmented based on end-users, which include pharmaceutical & biotechnology companies, hospitals, diagnostic laboratories, academic research institutes, and Contract Research Organizations (CROs) & Chief Medical Officers (CMOs). The pharmaceutical & biotechnology companies segment is expected to grow rapidly in 2021 due to high-value investments in various research and development projects for oligonucleotide therapies. With many clinical studies and preclinical trials for oligo-based products, pharmaceutical and biotechnology companies are developing and manufacturing new oligo-based therapies that are expected to improve patients' lives.
Regional Outlook
The oligonucleotide synthesis market in North America dominated the global market in terms of revenue in 2021. This can be attributed to increasing innovations and the involvement of major pharmaceutical and biotechnology companies in developing scalable and sustainable processes. The region also witnessed a rise in clinical trials and preclinical trials for oligo-based products, which further contributed to the revenue growth. Maravai LifeSciences Inc., a global provider of life science reagents and services, acquired MyChem LLC for USD 240 million in cash, which will help the former expand its product line in medicines and vaccine applications.
In Europe, the oligonucleotide synthesis market is expected to register steady growth due to the involvement of major biotech companies and research institutes in meeting the growing demand for synthesized oligonucleotides in molecular diagnostics and clinical applications. High Mergers and Acquisitions (M&A) activities also contributed to the revenue growth. Biotage's acquisition of ATDBio for £45 million (USD 62 million) in cash and stock gave it access to knowledge in the creation of complex DNA and RNA and accelerated the U.K. company's operations.
The Asia Pacific market is expected to witness significant revenue growth during the forecast period due to increasing demand for diagnostic tools, growing awareness of the oligonucleotide synthesis technique, and rising R&D activities by major research and biopharmaceutical companies. WuXi STA disclosed its new large-scale oligonucleotide and peptide synthesis capabilities at its Changzhou production location, featuring 4 large-scale oligonucleotide manufacturing lines and 3 additional manufacturing lines with reactors that can hold up to 1,000 liters in the 22,260-square-foot peptide facility.
Competitive Landscape
The global oligonucleotide synthesis market has a fragmented competitive landscape, with numerous key players operating globally and regionally. These companies are actively involved in research and development and forming alliances to develop and introduce new and innovative products and services.
On 19 October 2022, Telesis Bio and Cellibre announced their collaboration to optimize the development and validation of Telesis Bio's BioXp Digital-to-Biological Converter (DBC) instrument for fully automated manufacturing of on-demand CRISPR-Cas9 guide RNA (gRNA) for genome editing. The BioXp DBC instrument integrates Telesis Bio's Short Oligonucleotide Ligation Assembly (SOLA) Enzymatic DNA Synthesis (EDS) technology directly onto its BioXp 9600 system, providing same-day design and build capabilities for guide RNAs without the need to order custom reagents. The gRNA synthesis kit is the first of several BioXp DBC kits planned by the company.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Oligonucleotide Synthesis Market Segmentation & Impact Analysis
Chapter 5. Oligonucleotide Synthesis Market By Product Insights & Trends
Chapter 6. Oligonucleotide Synthesis Market By Application Insights & Trends
Chapter 7. Oligonucleotide Synthesis Market By End-User Insights & Trends
Chapter 8. Oligonucleotide Synthesis Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Danaher
- Thermo Fisher Scientific
- Merck KGaA
- Eurofins Scientific
- KANEKA CORPORATION
- Agilent Technologies
- Biolytic Lab Performance Inc.
- Generi Biotech
- Biogen and Ionis
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