LONDON, Dec. 19, 2016 /PRNewswire/ -- The global oligonucleotide synthesis market is poised to reach USD 2.20 billion by 2021 from USD 1.33 billion in 2016, growing at a CAGR of 10.6% from 2016 to 2021.
Major factors contributing to the growth of the global oligonucleotide synthesis market include increasing R&D expenses in the pharmaceutical and biotechnology companies, the rising demand for synthesized oligonucleotides due to the growing field of molecular diagnostics, increasing government investments to develop genomic technologies, rising venture capital investments, and increasing demand for synthetic genes. The increasing applications of oligonucleotides in nucleic acid array-based technologies, library preparations, next-generation sequencing (NGS), genomics, nucleic acid-base detections, cell cultures, diagnostics, therapeutics, human identity testing, cloning, and genetic engineering and synthetic biology also play a vital role in the development of this market. However, price erosion and a lack of regulations for therapeutic oligonucleotides could hinder the growth of this market during the forecast period.
North America commands the largest share of the global oligonucleotide synthesis market in 2016 and is expected to grow at a second-highest growth rate from 2016-2021. According to the Centers for Disease Control and Prevention (CDC), in 2016, chronic diseases accounted for 7 out of 10 deaths and 86% of healthcare costs in the U.S. It was reported that ~50% of Americans suffer from at least one chronic disease. Considering the potential of oligonucleotides (therapeutic oligonucleotides) in the treatment of chronic diseases, the oligonucleotide synthesis market is expected to flourish in the coming years, provided these drugs get rapid market approvals.
Asia-Pacific is expected to grow at the highest CAGR. The high growth in this market is attributed to growing R&D funding, rising product availability, low outsourcing costs, and increasing research activities in the region. Furthermore, factors such as the increasing applications of oligonucleotides in molecular diagnostics and therapeutics and increase in the number of oligonucleotide-related conferences in the Asia-Pacific region are further expected to drive market growth. Some prominent markets in APAC include China, India, and Japan.
This market is categorized on the basis of product & services, application, end user, and region. Apart from comprehensive geographical analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players in the last three years. In addition, the company profiles comprise basic views on the key players and their product portfolios, developments, and strategies adopted. The above mentioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of top players in the oligonucleotide synthesis market. The report analyzes the oligonucleotide synthesis market by product and services, application, end user, and region.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the oligonucleotide synthesis market.
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