Facts and Factors Market Research has published a new report titled “Oligonucleotide Market By Offering (Equipment, Reagents & Consumables, and Synthesized Oligonucleotides), By Application (Research, Therapeutics, and Diagnostics), and By End-User (Academic Research Institutes, Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027”. According to the report, the global oligonucleotide market was valued approximately USD 1,652 million in 2018 and is expected to reach a value of around USD 4,088 million by 2027, at a CAGR of around 10.6% between 2019 and 2027.
Oligonucleotides are extremely-short nucleic acid polymers used in genetic testing, forensics, and research. Oligonucleotides are designed for the hybridization of specific DNA/ RNA sequences. Several solid-phase clinical synthesis manufacture small bits of nucleic acid for the purpose of DNA sequencing, polymerase chain reaction, artificial gene synthesis, and library construction. Additionally, oligonucleotides are used as probes to detect specific sequences that are complementary to oligonucleotides. When a certain sequence needs detection, a complementary oligonucleotide is synthesized in the laboratory. It is then bound to a fluorescent marker and allowed to bind to the specific RNA/DNA segment it was designed to detect. Using these molecules as probes for detection is among the most important functions of oligonucleotides.
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Rising governmental investments for R&D majorly driving the oligonucleotide market
The increasing R&D spending by the government is majorly driving the current innovations witnessed in multiple sections of the biotechnology industry. It also includes major advances made in pharmaceuticals and biological sciences and the introduction of more effective and drugs and curative and preventive treatments aimed at enhancing the quality of human life. Thus, the increasing R&D investments, both by the private sector and government, are significantly fuelling the oligonucleotide market globally. Furthermore, the rising chronic illnesses incidences due to the rapidly escalating aging population are driving the advancements in drugs that are aimed at gene therapy and oncology for preventing and treating chronic illnesses.
Synthesized oligonucleotides is projected to grow rapidly in the offering segment
Synthesized oligonucleotides is estimated to grow at a CAGR of 10.6% over the forecast time period, owing to the escalating number of manufacturers offering various customizations and rising applications of ready-to-use synthesized oligonucleotides in therapeutics. Furthermore, the presence of a robust pipeline of oligonucleotides-based therapeutics in various phases of clinical development will fuel the synthesis market in the future.
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Therapeutics segment is likely to lead the application segment in the future
The therapeutics segment dominates the global market for oligonucleotide, due to the growing demand for oligonucleotides for diagnostic purposes and increasing focus on targeted gene therapies.
Asia Pacific to record highest CAGR over the estimated timeline
The Asia Pacific is the fastest-growing oligonucleotide market and will register a CAGR of 11.5% in the future, owing to the increasing regional urbanization and rising investments in the construction sector. China is a major regional player, as numerous small companies are based in the country providing reagents and consumables for oligonucleotides. Additionally, India and Japan are among other major regional contributors due to improving healthcare infrastructure.
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Key players operating in the oligonucleotide market are BioTechnologies, Biosearch Technologies, Eurofins Genomics, Bioneer Corporation, Dalton Pharma Services, BianoScience, Bio-Synthesis, GE, Microsynth, ATDBio, BioSpring, Creative Biogene, GeneDesign, GenScript, IBA, Integrated DNA Technologies, Kaneka Eurogentec, Merck, Syngene, Thermo Fisher Scientific, TriLink, and Twist Bioscience, among others.
This report segments the oligonucleotide market into:
Global Oligonucleotide Market: By Offering
- Reagents and Consumables
- Synthesized Oligonucleotides
Global Oligonucleotide Market: By Application
- Polymerase Chain Reaction
- Next-Generation Sequencing
- Antisense Oligonucleotides
- Nucleic Acid Aptamers
- Immunotherapy Applications
Global Oligonucleotide Market: By End-User
- Academic Research Institutes
- Diagnostic Laboratories
- Pharmaceutical and Biotechnology Companies
Global Oligonucleotide Market: By Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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