Oligonucleotide Synthesis Market to Reach $26.09 Bn, Globally, by 2030 at 17.1% CAGR: Allied Market Research

PORTLAND, Ore., Aug. 4, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Oligonucleotide Synthesis Market by Product (Oligonucleotide-Based Drugs, Synthesized Oligonucleotides, Reagents, and Equipment), Application (Therapeutic Applications, Research Applications, and Diagnostic Applications) and End User (Hospitals, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, CROs and CMOs, Academic Research Institutes): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global oligonucleotide synthesis industry was pegged at $5.19 billion in 2020, and is expected to reach $26.09 billion by 2030, growing at a CAGR of 17.1% from 2021 to 2030.

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Major determinants of the market growth

Rise in government investments and R&D expenditure in pharmaceutical & biotechnology companies, increase in use of synthesized oligonucleotides in molecular diagnostics and clinical applications, and surge in demand for high end customized oligos and upgradation in purification drive the growth of the global oligonucleotide synthesis market. However, challenging delivery of oligonucleotide drugs to specific targets and complexities associated with therapeutic oligos hinder the market growth. On the contrary, rise in focus on personalized medicines and potential in the developing economies are expected to open lucrative opportunities for the market players in the coming years.

Covid-19 scenario:

• The Covid-19 pandemic disrupted workflows in the healthcare sector across the globe. The spread of virus forced several industries to shutdown temporarily or permanently. This disrupted the supply chain.
• However, the pandemic has a positive effect on the market as it increased the demand for various medical services such as oligonucleotide products for developing test kits, vaccines, and treatments that target Covid-19 infection.
• Moreover, due to the rise in Covid-19 cases and the urgency for a potential vaccine, the demand for new generations of oligonucleotide drugs, such as mRNA and DNA vaccines has increased.

The synthesized oligonucleotides segment to manifest the highest CAGR through 2030

By product, the synthesized oligonucleotides segment is estimated to portray the highest CAGR of 18.1% during the forecast period, due to rise in use of synthesized oligonucleotides in several streams including molecular diagnosis and clinical application. However, the oligonucleotide-based drugs segment held the largest share in 2020, accounting for more than one-third of the global oligonucleotide synthesis market, owing to rise in number of FDA-approved drugs and clinical pipeline of oligonucleotide-based drugs.

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The therapeutic segment dominated the market

By application, the therapeutic segment held the largest share in 2020, contributing to around two-fifths of the global oligonucleotide synthesis market, owing to rise in research of therapeutic application. However, the research segment is projected to manifest the highest CAGR of 17.6% during the forecast period, owing to rise in approval of several drugs over the last few years.  

North America held the lion's share

By region, the global oligonucleotide synthesis market across North America held the largest share in 2020, accounting for more than one-third of the market. This is due to rise in R&D in life sciences, surge in focus on improving the safety & quality of healthcare, increase in demand for high-quality research tools for data reproducibility, and surge in focus on developing personalized therapeutics. However, the market across Asia-Pacific is expected to register the highest CAGR of 18.8% during the forecast period, owing to expanding healthcare infrastructure, surge in government support and investment, and economic development in the region.

Major market players

• Alnylam Pharmaceuticals, Inc.
• Danaher Corporation
• Biogen Inc.
• Ionis Pharmaceuticals, Inc.
• Eurofins Scientific
• LGC Limited
• Kaneka Corporation
• Sarepta Therapeutics, Inc.
• Merck KGAA
• Thermo Fisher Scientific, Inc.

Key Findings of the Study

• Based on product, the oligonucleotide-based drugs held the largest share in the global market in 2020.
• On the basis of application, the therapeutic application held the largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• By end user, the hospitals segment held the largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• Based on region, North America is expected to experience growth at the highest rate, registering a CAGR of 16.00% during the forecast period.

Frequently Asked Questions?

• Which are the top companies hold the market share in Oligonucleotide synthesis market?
• Which is the most influencing segment growing in the Oligonucleotide synthesis report?
• What are the key trends in the Oligonucleotide synthesis market report?
• What are the market values / growth % of emerging countries?
• What is the market value of Oligonucleotide synthesis market in 2021?

We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.

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