Aptamers Market is Estimated to Witness High Growth Owing to Opportunity in Diagnostics Applications
Aptamers are short, single-stranded DNA or RNA molecules that fold into unique three-dimensional structures. They can specifically bind to a broad range of targets like small organic molecules, proteins, peptides, viruses, and whole cells. Aptamers have several advantages like high target specificity and selectivity, better stability, simpler chemical modification techniques, and low immunogenicity as compared to conventional antibodies. They find widespread applications in biosensors, diagnostics, therapeutics, and other research applications.
Market Opportunity:
Diagnostics applications segment is anticipated witness high growth over the forecast period, owing to opportunity in point-of-care testing. Aptamers have significant benefits over antibodies in developing point-of-care diagnostic solutions. They have small size, fast target binding kinetics, high stability under different conditions like temperature variations and storage. Moreover, they can be synthesized through cost-effective chemical procedures in large quantities. These advantages make aptamers suitable for developing low-cost paper-strip based or lateral flow POC tests for detection of diseases like tuberculosis, cancers, and HIV. Rising demand for POC testing worldwide is expected to fuel adoption of aptamer-based diagnostic solutions. Development of novel portable and easy-to-use POC diagnostic kits leveraging specificity and stability of aptamers is anticipated to present lucrative growth opportunities for players in the aptamers market over the forecast period.
Porter’s Analysis
Threat of new entrants: The aptamers market requires high initial R&D investment for development of new aptamers which poses threat of new entrants. Additionally, established market players have strong brand image and distribution network.
Bargaining power of buyers: The presence of several aptamers manufacturing companies gives choice to buyers but customized development needs reduces their bargaining power.
Bargaining power of suppliers: Few biotech and pharmaceutical companies have expertise in aptamers technology acting as oligopolistic suppliers with moderate bargaining power.
Threat of new substitutes: Alternate affinity reagents like antibodies possess some limitations like batch-to-batch variability which provides limited threat of substitution.
Competitive rivalry: Presence of several global players intensifies competition based on technology innovation, cost optimization and strategic collaborations.
SWOT Analysis
Strength: High specificity, selectivity, stability of aptamers; Their ability for reversible binding and non-immunogenic nature gives them advantages over antibodies.
Weakness: High development cost of aptamers; Complex separation and purification processes.
Opportunity: Wide applications in biosensing, molecular diagnostics, targeted drug delivery; Growing funding for aptamers research from private and public organizations.
Threats: Limited expertise availability; Intense competition from alternative affinity reagents.
Key Takeaways
The Global Aptamers Market Size is expected to witness high growth. The market is projected to reach US$ 14,491.98 Mn by 2030 from US$ 6265.49 Mn in 2023, growing at a CAGR of 3.3% during the forecast period.
Regional analysis
North America is expected to contribute major revenue share owing to presence of leadingaptamer manufacturers in the US and Canada. Favorable funding scenario for aptamer research drives the region's growth. Asia Pacific is projected to witness fastest growth during the forecast period with increasing initiatives to develop low-cost point-of-care diagnostics using aptamers particularly in India and China.
Key players
Key players operating in the aptamers market are ContiTech Australia Pty. Ltd., Endless Belt Service Pty Ltd., Fenner Dunlop Australia Pty Ltd, Flexible Steel Lacing Company (Flexco), Kinder Australia Pty Ltd., Mato GmbH & Co. KG., Minprovise Pty Ltd, Nepean Engineering & Innovation Pty.
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