The oligonucleotide synthesis market comprises products that are involved in synthesis of short DNA or RNA molecules that are used in research, diagnosis and development of therapeutic approaches. Oligonucleotides have gained widespread acceptance in a variety of applications including DNA sequencing, genetic testing, drug development and research.
The advantages associated with oligonucleotides include target specificity, minimum side effects, cost-effectiveness and they can be easily synthesized for treatment as compared to other biologics. Increase in genetic disease incidences, rising government funding for research, technological advancements and growing penetration of precision medicine have fuelled the growth of oligonucleotide synthesis market.
The Global oligonucleotide synthesis market is estimated to be valued at US$ 4565 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the oligonucleotide synthesis market are Forte Research Systems (India), ICON plc (Ireland), Merge healthcare incorporated (U.S.), Bio-Optronics (U.S.), DSG INC (U.S.), ArisGlobal (India), ERT Clinical Bioclinica (U.S.), Oracle Corporation (U.S.), Medidata Solutions (U.S.), DATATRAK International, Inc. (U.S.), and MedNet Solutions, Inc., (U.S.) among others. Key players are focusing on new product launches, partnerships, mergers and acquisitions to strengthen their market presence. For instance, in 2021 Medidata and Dassault Systèmes formed a strategic partnership to accelerate the development of new medicines.
The Oligonucleotide Synthesis Market Demand for oligonucleotide-based diagnostic tests and therapies. According to the Global Cancer Observatory, cancer burden is expected to reach 28 million new cancer cases and 16.3 million cancer deaths by 2040. Such growing incidence of fatal diseases will augment the demand for accurate and cost-effective diagnostic methods like oligonucleotide synthesis in the forecast period.
Globally companies are expanding their geographical footprint to tap potential markets especially in emerging regions of Asia Pacific, Middle East and South America. Furthermore, these regions are witnessing heavy government funding to develop oligonucleotide-based drugs and diagnostic capabilities to address unmet medical needs. Such factors will promote the global expansion of oligonucleotide synthesis market during the forecast period.
Market Key Trends
The Oligonucleotide Synthesis Market Size And Trends latest advancements have led to development of antisense oligonucleotides (ASOs), small interfering RNAs (siRNAs), microRNAs, aptamers and more that have potential applications in treatment of chronic lifestyle diseases. ASOs are being extensively researched for treating Duchenne muscular dystrophy (DMD), Huntington’s disease and familial chylomicronemia syndrome (FCS). However, the regulatory approval and large-scale adoption of oligonucleotide modalities would require further research efforts on delivery, specificity, side effects and cost-effectiveness. Continuous technological advancements are expanding the scope of oligonucleotides beyond research into therapeutic areas.
Porter’s Analysis
Threat of new entrants: Low capital requirements for oligonucleotide synthesis but expertise, intellectual property barriers, and economies of scale pose challenges for new players.
Bargaining power of buyers: Few large pharmaceutical companies dominate as bulk buyers but oligonucleotide suppliers have specialized capabilities.
Bargaining power of suppliers: Suppliers of reagents and instruments hold some power but many capable of manufacturing key inputs.
Threat of new substitutes: Limited potential for new gene-based therapies to displace oligonucleotide approaches in near future.
Competitive rivalry: Fierce competition to develop new oligo-based drugs and delivery mechanisms.
Geographical Regions
North America currently holds the largest share of the oligonucleotide synthesis market owing to substantial research spending and presence of leading pharmaceutical companies. The United States has the most developed regional market.
The Asia Pacific region is poised to grow at the fastest pace in the forecast period with rising research activity in countries like China and India. Expanding biotech industries and outsourcing of manufacturing operations are driving market growth.
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