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Pune, January 13,2020
Premium Market Insights has announced the addition of the “Oligonucleotide Synthesis Market”. The report focuses on global major leading industry players with information such as company profiles, product picture and specification.
The global oligonucleotide synthesis market is expected to reach US$ 3,971.72 Mn in 2027 from US$ 1,584.16 Mn in 2018. The market is estimated to grow with a CAGR of 11.1% from 2019-2027.
The growth of the oligonucleotide synthesis market is primarily attributed to the increasing applications of synthesized oligonucleotides, increasing investments for synthetic biology, technological advancements genome editing tools are boosting the market over the years. However, renewed regulations for biotechnology and lack of skilled professionals in life science industry are likely to pose a negative impact on the market growth. On the other hand, advancements in synthetic biology is likely to have a positive impact on the growth of the global oligonucleotide synthesis market in the coming years.
Oligonucleotides are used in many biological and forensic applications as sequence-specific binding agents can help in identifying presence of a specific target DNA sequence. Synthetic oligonucleotides are short stretches of single stranded DNA fragments assembled by chemical synthesis. There is hardly a field in biology in which synthetic DNA has not been used or does not have the potential to be used. Synthetic oligonucleotides are widely used in the diagnosis of human genetic diseases. Oligonucleotide probes are used to detect single base pair changes within human genome. For instance, sickle cell anemia which is caused by a transversion (A^T) within β-globin gene can be analyzed with labeled oligonucleotides. The increasing applications of synthesized oligonucleotides is likely to foster the growth of market in the coming years.
Global oligonucleotide synthesis market, based on product was segmented into synthesized oligonucleotides, reagents, and equipment. In 2018, the synthesized oligonucleotides segment held a largest market share of 48.3% of the oligonucleotide synthesis market, by product. This segment is also expected to dominate the market in 2027 owing to increasing use of the product in research and diagnostic purposes. The segment is also anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.
Global oligonucleotide synthesis market, based on application was segmented into research, diagnostics, and therapeutics. Research segment is anticipated to grow at a CAGR of 45.3% during the forecast period. The availability of funds as well as supportive government policies are expected to boost the growth of the segment during the forecast period. The segment is also expected to retain its position among the other applications during the year 2027.
Some of the major primary and secondary sources for oligonucleotide synthesis included in the report are World Health Organization (WHO), National Center for Biotechnology Information (NCBI), Association of the British Pharmaceutical Industry (ABPI), Bio-Industry Association (BIA), Defense Advanced Research Projects Agency (DARPA), Pharmaceutical Research and Manufacturers of America (PhRMA), Food & Drug Administration (FDA), International Federation of Pharmaceutical Manufacturers & Associations and others.
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