July 18, 2024
Oligonucleotide Synthesis Market

The Oligonucleotide Synthesis Market Is Estimated To Witness High Growth Owing To Increasing R&D Investments In Synthetic Biology

The oligonucleotide synthesis market is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 11. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The oligonucleotide synthesis market is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 11. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Oligonucleotides are short nucleic acid polymers used in various biotechnology and pharmacological applications. They find application in research, diagnostics and therapeutics.

Market Overview:

Oligonucleotides are short nucleic acid polymers that find wide application in biomedical research, diagnostics, and therapeutics. They are used as probes and primers in molecular biology techniques such as polymerase chain reaction and hybridization for research, clinical testing, and forensics. Advancements in synthesis technologies have enabled cost-effective production of high-quality oligonucleotides for various applications.

Market key trends:

One of the major trends driving growth of the oligonucleotide synthesis market is increasing R&D investments in synthetic biology. Synthetic biology utilizes oligonucleotides in genetic engineering techniques for designing and engineering genetically modified microbes and organisms. Rapid development of new oligonucleotide-based therapeutics is another key trend fueling market growth. Oligonucleotides modified with ligand molecules are widely studied for facilitating targeted drug delivery. Increasing demands for oligonucleotide analogs having better affinity, specificity and stability is yet another key trend favoring market revenues. Technological advancements enabling high-throughput and low-cost oligonucleotide synthesis continue to support growth of the oligonucleotide synthesis market.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate in the oligonucleotide synthesis market as it requires high capital investment for setting up synthesis facilities and R&D. However, advancements in technology may lower entry barriers over time.
Bargaining power of buyers: The bargaining power of buyers is high as oligonucleotides are used across different industries as inputs. Buyers can negotiate on price and play one manufacturer against other.
Bargaining power of suppliers: The bargaining power of suppliers of raw materials and equipment is moderate to high given the specialized nature of products and scarcity of suppliers. This enables price setting to some extent.
Threat of new substitutes: The threat of substitutes is low as there are limited alternatives to oligonucleotides for various applications in pharmaceutical and biotechnology industries.
Competitive rivalry: Competition in the market is high among the top players.

SWOT Analysis

Strengths: Established production facilities, economies of scale, robust R&D capabilities, portfolios of oligonucleotides.
Weaknesses: High investment needs, dependence on few industries as customers, pricing pressures from buyers.
Opportunities: Expanding applications of oligonucleotides in therapeutics, diagnostics and research, market potential in developing regions.
Threats: Threat from new entrants, stringent regulations, disruptions due to COVID-19 impacting projects.

Key Takeaways

The Global Oligonucleotide Synthesis Market Growth is expected to witness high, exhibiting CAGR of 11% over the forecast period, due to increasing demand for oligonucleotides in drug discovery and developmental activities. North America dominated the market in 2023 attributed to the presence of major oligonucleotide synthesis companies and advanced research infrastructure. Key players operating in the oligonucleotide synthesis market are Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies€TM, Inc, BioAutomation Corporation, Twist Bioscience, Shanghai SynTheAll Pharmaceutical Co., CUSABIO Technology LLC, Synbio Technologies, GENEWIZ, Eurofins Scientific, Agilent Technologies, Kaneka Eurogentec S.A., and LGC, Biosearch Technologies.

Regional analysis
The North American region accounted for largest share of the oligonucleotide synthesis market in 2023. Factors such as presence of key market players, rising R&D spending by biopharma companies, and availability of latest technologies and infrastructure are fueling growth. The Asia Pacific region is anticipated to exhibit fastest growth over the forecast period attributed to increasing investments by governments and private organizations in biotechnology and pharmaceutical research. China is projected to emerge as a highly lucrative market due to expanding oligonucleotide synthesis capabilities.

Key players operating in the oligonucleotide synthesis market are Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies€TM, Inc, BioAutomation Corporation, Twist Bioscience, Shanghai SynTheAll Pharmaceutical Co., CUSABIO Technology LLC, Synbio Technologies, GENEWIZ, Eurofins Scientific, Agilent Technologies, Kaneka Eurogentec S.A., and LGC, Biosearch Technologies.

 

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it