Growing adoption of synthesized oligonucleotides in diagnostic and clinical applications, plummeting cost of sequencing, and increasing public & private spending on genomics to drive the growth of oligonucleotide synthesis market

London, July 17, 2019 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research^®, the global oligonucleotide synthesis market is expected to grow at a CAGR of 10.5% from 2019 to reach $2.9 billion by 2024. The researchers suggest that the growth of oligonucleotide synthesis market will be driven by factors such as growing adoption of synthesized oligonucleotides in diagnostic and clinical applications, rising R&D expenditure and government investment in pharmaceutical and biotechnology companies, plummeting cost of sequencing, increasing public & private spending on genomics, and rising venture capital investments/funding.

The global oligonucleotide synthesis market is mainly divided by product (synthesized oligonucleotides, reagents, and consumables), application (research, diagnostics, and therapeutics), end user (academic research institutes, pharmaceutical and biotechnology companies, diagnostic laboratories, and others), and geography.

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The report states that, based on the product type, synthesized oligonucleotides accounted for the largest share of the overall oligonucleotides market. Meticulous Research^® identified as to why this segment will continue dominating over reagents and equipment: “Due to increasing number of applications of synthesized oligonucleotides in research, diagnostics, and therapeutics”

Based on application, research segment accounted for the largest share of the global oligonucleotide synthesis market. The market growth of research segment is mainly attributed to the recent development in the gene synthesis and next generation sequencing areas. The large number of oligos are commonly used into various technologies such as PCR, qPCR/RTqPCR, gene synthesis, sequencing, and SNP analysis.

Browse key industry insights spread across 185 pages with 168 market data tables & 39 figures & charts from the report: https://www.meticulousresearch.com/product/Oligonucleotide-Synthesis-Market-4953/

Academic and research institutes are the largest end users of oligonucleotide synthesis, primarily attributed to the rising pressure to speed up the drug development procedure, growing focus on collaboration of pharma-academia for the development of new assay molecules, and primary screening of drug molecule.

The report further speculates that North America is currently home for most of the oligonucleotide synthesis manufacturers and is the leading adopter of oligos. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The reason behind the growth of Asia-Pacific region is growing availability of synthesized oligonucleotides, strong presence of pharma & biotech companies, growing outsourcing to CROs, and increase in R&D funding and activities.

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The key players operating in the global oligonucleotide synthesis market are Integrated DNA Technologies, Inc. (U.S.) (Part of Danaher Corporation), Merck KGaA (Germany), Eurofins Scientific(Luxembourg), Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies, Inc. (U.S.), GE Healthcare (U.S.), GeneDesign, Inc. (Japan) (Part of Ajinomoto Co., Inc.), Kaneka Eurogentec (Belgium) (Part of Kaneka Corporation), LGC Biosearch Technologies (U.S.), Bio-synthesis Inc. (U.S.), TriLink BioTechnologies, LLC (U.S.) (Part of Maravai LifeSciences), and ATDBio Ltd. (U.K.) among others.

Scope of the Report:

Market by Product

• Synthesized Oligonucleotides
  • By Product
    • Primers
    • Probes
    • Intermediate-Scale Synthesis Oligonucleotides
    • Large-Scale Synthesis Oligonucleotides
    • Linkers & Adaptors
  • By Type
    • Custom Oligonucleotides
    • Pre-Designed Oligonucleotides
  • Reagents
  • Equipment

Market By Application

• Research
  • PCR
  • QPCR/RTQPCR
  • Sequencing
  • Gene Synthesis
  • Other Research Applications
• Diagnostics
• Therapeutics
  • RNAi
  • Nucleic Acid Aptamers
  • DNA/Antisense Oligonucleotides
  • Immunotherapy Applications

Market by End User

• Academic Research Institutes
• Pharmaceutical And Biotechnology Companies
• Diagnostic Laboratories
• Others

Market by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • Rest of APAC (RoAPAC)
• Rest of World
  • Latin America
  • Middle East & Africa

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