The oligonucleotide synthesis market is poised for substantial growth driven by multiple factors. The increasing adoption of synthesized oligos in molecular diagnostics and clinical applications highlights their pivotal role in advancing healthcare. Cumulative government funds and robust research investments in pharmaceutical and biotechnology sectors further catalyze innovation. Additionally, rising venture capital investments fuel technology advancements and market expansion. As demand surges for precision medicine and genomics, the oligonucleotide synthesis market is set to flourish.
According to Data Bridge Market Research the Global Oligonucleotide Synthesis Market which was USD 7.70 billion in 2022, is expected to reach USD 16.36 billion by 2030 and is expected to undergo a CAGR of 11.8% during the forecast period 2023 to 2030.
“Government initiatives aimed at raising funds drive the market growth”
Government initiatives aimed at raising funds serve as a driver in the global oligonucleotide synthesis market. Many governments and research institutions allocate funds to support scientific research, including studies related to genomics, personalized medicine, and drug discovery. These financial incentives foster innovation and technological advancements in the field of oligonucleotide synthesis. Funding encourages research organizations and biotechnology companies to invest in cutting-edge technologies, expand their capabilities, and accelerate the development of novel applications for oligonucleotides, thereby driving market growth.
What restraints the growth of the global oligonucleotide synthesis market?
“Cost erosion of synthesized oligos”
The cost erosion of synthesized oligos poses a restraint in the global oligonucleotide synthesis market. As advancements in technology and manufacturing processes lead to cost reductions, the competitive pricing of synthesized oligonucleotides could impact market revenues. Lower prices might challenge the profitability of manufacturers and limit their ability to invest in research and development, potentially hindering innovation and overall market growth. Balancing cost-effective production while maintaining quality and innovation becomes crucial in navigating this challenge and sustaining market competitiveness.
Segmentation: Global Oligonucleotide Synthesis Market
The global oligonucleotide synthesis market is segmented on the basis of product, type, application, and end user.
- On the basis of product, the global oligonucleotide synthesis market is segmented into oligonucleotide, reagents, and equipment.
- On the basis of type, the global oligonucleotide synthesis market is segmented into custom oligos and predesigned oligos.
- On the basis of application, the global oligonucleotide synthesis market is segmented into therapeutic applications, diagnostics, research, and others.
- On the basis of end user, the global oligonucleotide synthesis market is segmented into academic research institutes, pharmaceutical and biotechnology companies, diagnostic laboratories, and others.
Regional Insights: North America dominates the Global Oligonucleotide Synthesis Market
North America is poised to lead the market with its robust healthcare infrastructure, prominent market players, escalating viral disease cases, and surging research endeavors. The region's advanced healthcare facilities and established industry giants create a conducive environment for growth, while the escalating cases of viral diseases and research activities further amplify its dominance.
The Asia-Pacific region is set to experience substantial growth from 2023 to 2030, driven by government initiatives for awareness, burgeoning research activities, untapped markets, a large population, and rising healthcare demand. With an increasing focus on healthcare quality and research, combined with its vast untapped potential, the region is primed for significant market expansion, promising enhanced healthcare solutions and access to millions.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-oligonucleotide-synthesis-market
Recent Developments in Global Oligonucleotide Synthesis Market
- In September 2021, SpeeDx made a strategic investment in local oligonucleotide manufacturing to bolster supply chain resilience and establish vital domestic capabilities for crucial diagnostics. This move is set to amplify the use of oligonucleotides in drug development, subsequently driving market expansion. The initiative's aim is to reduce supply chain vulnerabilities and cultivate a more self-reliant infrastructure, ultimately enhancing the adoption and growth of oligonucleotide-based applications.
The Prominent Key Players Operating in the Global Oligonucleotide Synthesis Market Include:
- Agilent Technologies, Inc. (U.S.),
- Atdbio Ltd.(UK),
- LGC Limited (U.K.),
- Bio-Synthesis Inc.(US),
- Eurofins Genomics (India),
- Kaneka Eurogentec S.A.(Belgium),
- General Electric (U.S.),
- Genscript (U.S.),
- AJINOMOTO CO.,INC (Genedesign, Inc.) (Japan),
- Danaher (U.S.),
- Merck Kgaa (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global oligonucleotide synthesis market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Oligonucleotide Synthesis Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
