The Oligonucleotide Synthesis Market is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Oligonucleotides are short nucleic acid polymers used in various applications like molecular diagnostics, detection, and gene editing therapy. The synthetic oligonucleotides are widely used as molecular probes, research reagents, primers, links for production of recombinant molecules and diagnostics. Custom oligonucleotides are designed to meet specific requirements according to the need of application such as molecular diagnosis, gene silencing, and gene editing. Market Dynamics: Increasing application of synthetic oligonucleotides in molecular diagnosis and gene therapy is a major factor driving the growth of this market. Synthetic oligonucleotides are used as molecular probes for DNA microarray chips and in situ hybridization for disease diagnosis and analysis of gene expression profiles. Growing adoption of gene therapy for treatment of cancer and rare genetic disorders is also boosting demand for synthetic oligonucleotides as they are used in gene editing techniques such as CRISPR/Cas9. Rising investments by governments and companies in genomics for disease diagnosis and drug discovery is another driver for this market. Additionally, advancements in oligonucleotide chemistry, synthesis technologies, and therapeutics are expected to create lucrative opportunities over the forecast period. Segment Analysis The Oligonucleotide Synthesis Market is dominated by the Reagents and Consumables segment. This segment accounts for the largest market share owing to rising consumption of reagents and consumables by research institutions and pharmaceuticals companies for various applications such as therapeutic development, genomics, and proteomics. PEST Analysis Political: The growth of the market is driven by increasing government funding for genomics and proteomics research across the globe. Various initiatives are being taken by public and private organizations to advance research in life sciences. Economic: The rising pharmaceutical R&D expenditures and growing academic and government investment in genomics and proteomics research is fueling the demand for oligonucleotide synthesis. Social: Increasing prevalence of chronic diseases and rising awareness about personalized medicine and targeted therapeutics are some of the key social factors contributing to the market growth. Technological: Continuous advancements in oligonucleotide-based therapeutics and reduction in the costs of DNA sequencing and synthesis are providing opportunities for market expansion. Automation in oligonucleotide synthesis is also boosting efficiencies. Key Takeaways The Global Oligonucleotide Synthesis Market Growth is expected to witness high, exhibiting 11% CAGR over the forecast period, due to increasing R&D investments by pharmaceutical and biotechnology companies in drug discovery and development. The market size for 2023 is estimated to be US$ 3962.67 Mn. Regional analysis: North America is expected to dominate the global market owing to the presence of key market players and growing life sciences research in the region. Asia Pacific is anticipated to exhibit the fastest growth rate during the forecast period due to increasing government support for genomics research and growing pharmaceutical industry in countries such as China and India. Key players operating in the Oligonucleotide Synthesis market are Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink BiotechnologiesTM, Inc, BioAutomation Corporation, Twist Bioscience, Shanghai SynTheAll Pharmaceutical Co., CUSABIO Technology LLC, Synbio Technologies, GENEWIZ, Eurofins Scientific, Agilent Technologies, Kaneka Eurogentec S.A., and LGC, Biosearch Technologies. Read More - https://www.newsanalyticspro.com/oligonucleotide-synthesis-market-size-and-share-trends-analysis-growth-and-forecasts/
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