Understanding Impact of COVID-19 on Oligonucleotide Synthesis Market

TMR

4 years ago

Global Oligonucleotide Synthesis Market – An Overview

As per Transparency Market Research, the global Oligonucleotide Synthesis Market is set to chart a stellar growth curve over the forecast period of 2017 to 2025. The compound annual growth rate (CAGR) over the stated period would be around 11.2%. The most prominent factors that is leading the market towards a higher valuation and new growth opportunities is the growing demand from genetic research. By the year 2025, the market valuation will be USD 4 billion (approximately). It is a steep rise from USD 1 billion in the year 2016

Technological growth – development and advancement – plays a key role in the growth of the global Oligonucleotide Synthesis Market. Besides, as biotechnology and life sciences see expansion, growth would also trickle to the Oligonucleotide Synthesis Market. Diagnostics and research field are particularly interested in use of oligonucleotides. Companies in the pharmaceutical Biotechnology domain are also set to create demand for this due to their involvement in drug discovery and development.

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Increase in reported cases of chronic illnesses and genetic disorders is also a crucial factor of growth in the global Oligonucleotide Synthesis Market over the assessment period of the report, states Transparency Market Research.

The global Oligonucleotide Synthesis Market is a slightly fragmented landscape in terms of number of players. Prominent names in the market that are considered forces to reckon with include Thermo Fisher Scientific, GE Healthcare, DNA Technologies, BioAutomation, Applied Biosystems, GeneDesign, Inc., Eurofins Genomics, Integrated Kaneka Eurogentec S.A., Sigma-Aldrich Corporation, and Agilent Technologies, among others.

Additionally, it is worth noting here that the market is quite competitive and players push for growth by resorting to a mix of strategies. These include extensive research and development (R&D) activities, innovation and technological advancement, and entering into key alliances. It is pertinent to note here that key alliances often lead to combination of resources in terms of labor, know-how, etc. Besides, it allows players to penetrate a market better and/or expand operations.

Here, it is also significant to note that as the market charts the impressive growth trajectory, as projected by Transparency Market Research, new entrants will increase the degree of fragmentation in the market. These will also add to the degree of competitiveness.

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Synthesized Oligonucleotides Segment to Stay at the Forefront of Growth in the Global Oligonucleotide Synthesis Market over the Forecast Period of 2017 to 2025

The global oligonucleotide synthesis market report is a repository of market intelligence for the period of 2017 to 2025. The report is segmented on the basis of product, application, and end-user. On the basis of product, the sub-divisions include reagents and consumables, synthesized oligonucleotides, and Equipment. On the basis of application – diagnostics, therapeutics, and research is covered. Research includes polymerase chain reaction and next generation sequencing. Therapeutics covers nucleic acid aptamers, and antisense oligonucleotides. On the basis of end-user, the divisions include diagnostic laboratories, research institutes, biotechnology and pharmaceutical companies.

As per transparency Market Research, synthesized oligonucleotides will dominate the market. This will be a result of manufacturers getting active and proactive and providing different customizations. Additionally, it is worth noting here that increase in applications of ready to use products in therapeutics is also helping the chart for the segment see an upward facing and steep growth curve.

It is quite interesting to note here that DNA and RNA types are commercially used. In research, however, there is growth in use of LNA and BNA – Locked Nucleic Acid and Bridged Nucleic Acid.

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North America to Dominate the Global Oligonucleotide Synthesis Market Landscape over the Forecast Period

The market study report on global Oligonucleotide Synthesis Market covers growth potential of key areas, along with strengths, weaknesses and threats. Regions covered include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America will lead the market landscape over the forecast period. The market share that it would lay claim to will be 33.3%. This is a slight decrease from past years. Major factors this growth can be attributed to include increase in number of pharmaceutical companies that are ready to tap into demand for oligonucleotides in diagnostics, research, and therapeutics. Increase in incidence of genetic disorders will also contribute to this anticipated growth. It is noteworthy here that this is a major factor driving demand for advanced drugs and therapies.