Global Oligonucleotide synthesis Market

Global Oligonucleotide Synthesis Market Size, Share, Growth Analysis, By End-use(Academic Research Institutes, Diagnostic Laboratories), By Application(PCR Primers, PCR Assays and Panels) - Industry Forecast 2024-2031

Report ID: SQMIG35H2107 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 67 | Figures: 75

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Global Oligonucleotide Synthesis Market size was valued at USD 4.60 billion in 2022 and is poised to grow from USD 5.16 billion in 2023 to USD 12.86 billion by 2031, at a CAGR of 12.10% during the forecast period (2024-2031).

The global oligonucleotide synthesis market is highly competitive and fragmented, with a large number of players operating in the market. The oligonucleotide synthesis market is driven by strategic initiatives such as collaborations, partnerships, and mergers and acquisitions. The oligonucleotide synthesis market is expected to witness intense competition among players, with a focus on innovation, product differentiation, and expansion of geographical presence. 'Agilent Technologies, Inc. (US)', 'BioAutomation Corporation (US)', 'Biosearch Technologies, Inc. (US)', 'Biolytic Lab Performance Inc. (Canada)', 'Eurofins Genomics LLC (US)', 'General Electric Company (US)', 'GenScript Biotech Corporation (China)', 'Integrated DNA Technologies, Inc. (US)', 'Kaneka Eurogentec S.A. (Belgium)', 'LGC Limited (UK)', 'Merck KGaA (Germany)', 'Nitto Denko Avecia Inc. (US)', 'Thermo Fisher Scientific Inc. (US)', 'TriLink BioTechnologies, LLC (US)', 'Twist Bioscience Corporation (US)', 'ATDBio Ltd. (UK)', 'Axil Scientific Pte Ltd. (Singapore)', 'Biogen International GmbH (Switzerland)', 'Biomer Technology LLC (US)', 'Bio-Synthesis, Inc. (US)'

The growing demand for oligonucleotides in drug development and diagnostics is a key driver of the global oligonucleotide synthesis market. PCR primers, antisense oligonucleotides, and siRNA are just a few examples of oligonucleotides that are widely used in drug development and diagnostics.

Increasing Demand for Customized Oligonucleotides: There has been a growing demand for customized oligonucleotides, which are tailored to specific applications. Customized oligonucleotides are used in various applications, including research, diagnostics, and therapeutics. The growing demand for customized oligonucleotides is attributed to the increasing use of oligonucleotides in drug discovery and development, genetic testing, and personalized medicine. For instance, Integrated DNA Technologies, a leading provider of customized oligonucleotides, offers a wide range of oligonucleotides for research, diagnostics, and therapeutic applications.

North America dominated the global oligonucleotide synthesis market owing to the presence of major pharmaceutical and biotech companies in the region. The high adoption of advanced genomic technologies and the availability of a skilled workforce for the development of novel therapeutics is further projected to help this region continue dominance during the forecast period.

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