PUNE, India, December 9, 2016 /PRNewswire/ --
According to a new market research report "Oligonucleotide Synthesis Market by Product & Services (Primer, Probe, Custom, Predesigned, Reagent Equipment), Application (Research, PCR, Gene, DNA, NGS, Diagnostic, RNAI), End user (Academic, Pharmaceutical, Biotechnology) - Forecasts to 2021" published by MarketsandMarkets, the global market is expected to reach USD 2.20 Billion by 2021 from USD 1.33 Billion in 2016, at a CAGR of 10.6% during the forecast period.
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Browse 229 market data Tables and 53 Figures spread through 248 Pages and in-depth TOC on "Oligonucleotide Synthesis Market"
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The global Oligonucleotide Synthesis Market analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The growth of this market is mainly driven by factors such as increasing R&D expenditure in pharmaceutical and biotechnology companies, increased use in clinical applications and molecular diagnostics, increasing government investments for the development of genomics and evolving significance of RNA-interference oligos in therapeutics and diagnostics are key factors driving market growth for oligonucleotide synthesis.
The report segments the Oligonucleotide Synthesis Market based on product and services, applications, end user, and region. On the basis of products and services, the Oligonucleotide Synthesis Market is segmented into synthesized oligonucleotides, reagents, and equipment. Synthesized oligonucleotides are expected to account for the largest share of Oligonucleotide Synthesis Market, in 2016. The growth of the synthesized oligonucleotides segment is attributed to the increasing number of applications of synthesized oligonucleotides in research, diagnostics, and therapeutics. The rising demand for custom oligos also contributes to the growth of the synthesized oligonucleotides market.
On the basis of application, the Oligonucleotide Synthesis Market is further segmented into research, diagnostic and therapeutic. Research segment is expected to account for the largest share of Oligonucleotide Synthesis Market in 2016. Diagnostic segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the emerging application of molecular diagnostics (MDx) and genetic testing. The increasing use of technologies such as DNA microarrays in the analysis of biological samples and developing molecular oncology diagnostics tests also contribute in the growth of molecular diagnostics market.
On the basis of end-user, the Oligonucleotide Synthesis Market is categorized into academic research institutes, diagnostic laboratories, pharmaceutical and biotechnology companies, and other end users (private research institutes and hospitals). In 2016, the academic research institutes segment is expected to be the major end-user segment in the Oligonucleotide Synthesis Market. Academic researchers primarily use oligonucleotides for various applications in genetic engineering, polymerase chain reaction (PCR) activities, and high-throughput sequencing.
Based on region, the Oligonucleotide Synthesis Market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America is expected to account for the largest share of this market in 2016. However, the Asia-Pacific market is expected to grow at the highest CAGR, mainly due to the growing availability of synthesized oligos, along with an increase in R&D funding and activities in the APAC region. Furthermore, the increasing focus of prominent players on APAC is another factor driving the growth of this market.
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The Oligonucleotide Synthesis Market is a highly fragmented market, with several big and emerging players. Key market players include Bioautomation Corporation (U.S.), L.G.C Biosearch Technologies, Inc. (U.S.), Eurofins Genomics (Germany), Eurogentec S.A (Belgium), GE Healthcare (U.S.), Integrated DNA Technologies (IDT) (U.S.), Sigma-Aldrich Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies (U.S.), Nitto Denko Avecia Inc. (U.S.).
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