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![Global Phosphoramidite Market is Anticipated to Witness High Growth Owing to Wide Application in Synthetic Biology](https://s3.us-west-2.amazonaws.com/timessquarereporter.com/upload/media/posts/2024-04/15/global-phosphoramidite-market-is-anticipated-to-witness-high-growth-owing-to-wide-application-in-synthetic-biology_1713176081-b.jpg)
The global Phosphoramidite Market is primarily driven by its wide application in synthetic biology. Phosphoramidites are primarily used in DNA synthesis for producing oligonucleotides and other synthetic DNA or RNA fragments through the phosphoramidite method. They are preferred as intermediates in solid phase oligonucleotide synthesis due to properties like ability to protect phosphorus moieties during oligonucleotide assembly procedures.
Apart from DNA synthesis, phosphoramidites also find applications in polymerase chain reaction (PCR), targeted genome engineering methods like CRISPR and generation of DNA/RNA aptamers that are used for biosensing and targeted drug delivery applications.
The Global Phosphoramidite Market is estimated to be valued at US$ 1,011.3 MN in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global Phosphoramidite Market are Glen Research, ChemGenes Corporation, Link Technologies Ltd., BioAutomation Corporation, Merck KGaA, Sigma-Aldrich (now part of MilliporeSigma, a Merck Group company), LGC Biosearch Technologies, Thermo Fisher Scientific, Biosynthesis Inc., ATDBio Ltd., Genscript Biotech Corporation, Expedeon AG, Wuxi Donglin Sci & Tech Development Co., Ltd., Bio-Synthesis Inc., and ChemGenes Corporation. Some of these companies are focusing on inorganic growth strategies like acquisitions and collaborations to expand their product portfolio and market presence.
Global Phosphoramidite Market Size is expected to witness lucrative opportunities due to growing applications of synthetic oligonucleotides. Advances in fields like genomics, drug discovery and synthetic biology have increased demand for high-quality oligonucleotides synthesized using phosphoramidites as starting materials. This is expected to drive market revenue growth over the forecast period.
North America dominated the global market in 2022 due to well-established pharmaceutical and biotechnology industries and growing adoption of synthetic biology in the region. However, Asia Pacific is expected to witness highest growth during the forecast period owing to increasing investments by key market players, advancing research infrastructure and growing biotechnology industry in the region.
Market Drivers
- Rising adoption of synthetic biology techniques for therapeutics development, industrial applications and genomic research is a major factor driving market growth. Phosphoramidites play a vital role as starting materials in large-scale oligonucleotide synthesis.
- Growing field of DNA nanotechnology and development of advanced applications like programmable assemblies of synthetic DNA and RNA for nanomaterials, drug delivery and biosensing is also fueling demand.
Market Restraints
- Availability of alternative oligonucleotide synthesis techniques restricting complete dependence on phosphoramidite chemistry.
- High costs associated with phosphoramidite monomers and solid-phase DNA synthesis equipment hampering market growth in cost-sensitive regions.
Segment Analysis
The global Phosphoramidite Market is segmented based on product type, application, and region. Based on product type, the Phosphoramidite Market has been segmented into DNA phosphoramidites, RNA phosphoramidites, and other phosphoramidites. The DNA phosphoramidites segment accounts for the largest market share due to wide usage of DNA phosphoramidites in DNA sequencing and gene synthesis procedures. Based on application, the Phosphoramidite Market can be segmented into DNA synthesis, Oligonucleotide synthesis, and SNP identification. The DNA synthesis application segment holds the largest market share since DNA phosphoramidites are widely used as building blocks in DNA synthesis.
Global Analysis
Regionally, North America holds the largest share of the Phosphoramidite Market and is expected to maintain its dominating position over the forecast period owing to increasing R&D activities related to genomics and biotechnology in countries like U.S. and Canada. Europe is the second largest regional market owing to growing government funding for research activities. However, Asia Pacific region is projected to witness the highest CAGR during the forecast period attributed to increasing investments by market players, rising public and private funding for biomedical research, and growing awareness about personalized therapeutics. Key players are focused on establishing production facilities and distribution networks in developing countries of Asia Pacific and Latin America to seize growth opportunities.
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