Oligonucleotide Synthesis Market
The oligonucleotide synthesis market is expected to gain a market value of USD 27.2619 billion by 2030 at a CAGR of 16.50 % over the forecast period of 2023-2030. The market over the review period is also expected to earn substantial valuation. The chemical synthesis of the nucleic acids with definite chemical structures is known as oligonucleotide synthesis. Its ability to produce results regarding customized nucleotides rapidly through inexpensive methods is making it choicest preference for a lot of research laboratories that are spending heavily in developing biotechnologies. The desired oligonucleotide requires a perfect oligonucleotide chain which can easily be made in laboratories. The completion of the chain sees a release from the solid phase to the solution, deprotected, and collected. MRFR in their recent report on the oligonucleotide synthesis market distinctly studied segments with their proper valuation both value-wise and volume-wise to understand the market comprehensively. Factors that can impact the market in the coming years have also been included for a critical overview of the oligonucleotide synthesis market.
Ventures and investments from big companies in the oligonucleotide synthesis market can prove beneficial in the coming years. Gene study can provide much-needed traction, and the market can witness substantial rise during the forecast period. But the cost associated with it can be a major factor, and lack of adept hands can be a market deterrent.
Major Key Players:
The Oligonucleotide Synthesis Market Players, as described by MRFR, are GE Healthcare (U.S.), Integrated DNA Technologies, Inc (U.S), Eurogentec S.A (Belgium), Sigma-Aldrich Corporation (U.S.), Bioautomation Corporation (U.S.), Agilent Technologies Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Eurofins Genomics (Germany), L.G.C Biosearch Technologies (U.S.), Nitto Denko Avecia Inc. (Japan), and others.
Segment Analysis
MRFR, for a better understanding of the oligonucleotide synthesis market, segmented the market by product type, application, and end-users.
Based on the product type, the oligonucleotide synthesis market can be segmented into synthesized oligonucleotides, reagents and equipment. The synthesized oligonucleotides segment has a substantial hold over the market.
Based on the application, the oligonucleotide synthesis market can be segmented into library preparation, diagnostic, research, therapeutics, genetic testing, gene synthesis, drug target screening, and others. Drug target screening is quite popular as it gets substantial traction from the pharmaceutical sector.
Based on the end-users, the oligonucleotide synthesis market can be segmented into academic research institutes, diagnostic laboratories, and pharmaceutical biotechnology companies. Diagnostic laboratories are expected to record considerable growth during the forecast period.
Regional Analysis
Region-specific segmentation of the oligonucleotide synthesis market, as discussed in the MRFR report, includes North America, Europe, Asia Pacific (APAC), and the Middle East Africa (MEA).
The rise of North America can be attributed to the constant search for better treatment. The robust healthcare structure and the infrastructure of the research centers are quite indicative of that. Regional endeavor for such things is getting mostly driven by chronic diseases such as cancer and diabetes. Governments and private investors are equally funding for innovation in the sector, and it can take the regional market further ahead.
Europe is getting driven by the same intents like that of North America and is getting amply backed by research centers and government initiatives. Funding for the regional market is not a big problem as many pharmaceutical companies from the region are investing substantially in understanding the gene sequence to develop better drugs. The APAC region is expected to rise significantly as many of the global titans are looking at the region as a possible investment opportunity. Infrastructural benefits and low cost of resources are some alluring factors that are controlling the market.
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