Global Oligonucleotide Synthesis Market By Product Type (Oligonucleotide-Based Drugs, Synthesized Oligonucleotides, Reagents, and Equipment), By Applications (Therapeutic Applications, Research Applications, and Diagnostic Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033
- Published date: Jan 2024
- Report ID: 101785
- Number of Pages: 333
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Report Overview
The Global Oligonucleotide Synthesis Market size is expected to be worth around USD 44.9 Billion by 2033, from USD 9.1 Billion in 2023, growing at a CAGR of 17.3% during the forecast period from 2024 to 2033.
The chemical synthesis of relatively short nucleic acid fragments with a clearly defined chemical structure (sequence) is known as oligonucleotide synthesis. Because it provides quick and inexpensive access to custom-made oligonucleotides with the desired sequence, the method is extremely useful in current laboratory practice. Additionally, it is useful for cancer diagnosis and molecular diagnosis of a number of diseases, including infectious diseases like hepatitis and SARS-COV2.
The oligonucleotide synthesis market is being driven by robust research and rising government support for genome and synthetic biology projects. The pharmaceutical and biotechnology industries spend a lot of money on research and development to make oligonucleotide products with more therapeutic potential and fewer side effects. The oligonucleotide synthesis market is also bolstered by rising demand for high-end customized oligos and improvements in the purification of synthetic oligonucleotides, as well as growing applications of synthesized oligonucleotides in clinical and molecular diagnostics.
On the other hand, the difficulties in delivering oligonucleotide drugs to specific targets and the complexity of therapeutic oligos may impede the market for oligonucleotide synthesis. However, a lucrative market opportunity is anticipated to be created by growth opportunities in emerging economies and a growing emphasis on personalized medicine.
Key Takeaways
- Market Size: Valued at USD 9.1 billion in 2023, the global oligonucleotide synthesis market is set to grow at a 17.3% CAGR.
- Oligonucleotide-Based Drugs: This segment held 38.1% of the market in 2023, driven by demand for targeted therapies.
- Pharma & Biotech Dominance: Pharmaceutical and biotechnology companies accounted for 34.6% of the market’s revenue in 2023.
- Therapeutic Growth: Oligonucleotide therapies for disorders like cancer and neurological conditions are expected to drive significant revenue growth and hold a 42.2% market share.
- North American Leadership: North America led the market with a 40.2% revenue share in 2023.
- Asia-Pacific’s Rapid Growth: The Asia-Pacific region is the fastest-growing market, with Japan and China making substantial investments.
- Key Players: Leading market players include Thermo Fisher Scientific, Merck & Co., and GE Healthcare.
Product Analysis
The oligonucleotide-based drugs segment dominated the global market in 2023.
Based on product, the global oligonucleotide synthesis market is segmented into oligonucleotide-based drugs, synthesized oligonucleotides, reagents, and equipment. Among these, the oligonucleotide segment accounted for the largest market share of 38.1% in 2023.
This significant market share can be attributed to the increasing demand for targeted therapies. In addition, the development of new technologies, such as CRISPR/Cas9 gene editing and RNA interference (RNAi), has increased the potential applications of oligonucleotide-based drugs. Moreover, the segment is expected to grow as regulatory agencies such as the FDA have provided a more streamlined pathway for the approval of oligonucleotide-based drugs.
End-User Analysis
The pharmaceutical and biotechnology companies accounted for the largest revenue share of 34.6% of the global oligonucleotide synthesis market in 2023
Based on end-user, the market for oligonucleotide synthesis is divided into hospitals, pharmaceutical & biotechnology companies, diagnostic laboratories, CROs and CMOs, and academic research institutes. One of the main drivers of market revenue growth is the high value of major pharmaceutical & biotechnology companies’ investments in various R&D projects. With 14 oligonucleotide therapies now approved by the FDA and European Medicines Agency (EMA), an increasing number of businesses are focusing on treating rare diseases.
In addition, pharmaceutical and biotechnology companies are becoming increasingly involved in the development and manufacturing of new oligo-based therapies that are anticipated to alter patients’ lives, with approximately 200 clinical studies and over 600 preclinical trials for oligo-based products.
Application Analysis
The therapeutic segment is anticipated to expand significantly over the forecast period
Based on application, the global market for oligonucleotide synthesis has been divided into therapeutic applications, research applications, and diagnostic applications. Due to the potential of oligonucleotide drugs for managing and treating a number of disorders, the therapeutic segment is anticipated to experience significant revenue growth over the forecast period and holds 42.2% market share in 2023. Therapeutic drugs with target selectivity provide clinical productivity-relevant treatments.
The delivery and potency of OT are directly influenced by their fundamental structure and sequence. Neurological conditions like Huntington’s disease, amyotrophic lateral sclerosis, and spinal muscular atrophy, respiratory conditions like COPD and asthma, diabetic retinopathy, and malignancies are commonly treated with oligonucleotide medications. The oligonucleotide therapy undergoes specific structural alterations, like changes in the sugar moieties or nucleotide backbone, that aid in the incorporation of desirable properties into the medicine molecule, increasing its safety and efficacy and driving the segment’s revenue growth.
Key Market Segments
By Product
- Oligonucleotide-Based Drugs
- Synthesized Oligonucleotides
- Reagents
- Equipment
By End-User
- Hospitals
- Pharmaceutical & Biotechnology Companies
- Diagnostic Laboratories
- CROs and CMOs
- Academic Research Institutes
By Applications
- Therapeutic Applications
- Research Applications
- Diagnostic Applications
Drivers
Rising investments from government for the pharmaceutical and biotechnological projects
Synthesis of oligonucleotides is an essential component of numerous ongoing genetic research projects. The demand for a custom synthesis of different classes of oligos, such as antisense, immunostimulatory, miRNA, siRNA, decoys, aptamers, and immunostimulatory oligos, is anticipated to rise in response to rising government investments in genetic research. Collaboration with pharmaceutical companies is helping a number of established and new oligonucleotide manufacturers grow.
Ongoing clinical trials and marketing strategies are subjected to the growth of the oligonucleotide synthesis market
Numerous oligos are undergoing late-stage clinical trials to treat cancer, muscle dystrophies, cardiovascular diseases, and ocular disorders, among other conditions. The market is expected to grow as a result of the estimated regulatory approval of multiple therapies based on oligonucleotides.
Selling and direct selling through distributors in particular nations are examples of marketing strategies utilized in this market. Because advancements in genetic tools would make the synthesis of oligonucleotides simpler, it is anticipated that the market will benefit from the ongoing expansion of the gene editing and genomics markets.
Restraints
Concerns regarding the complexity of therapeutic oligos
Insufficient pharmacokinetic characteristics and low cellular absorption pose major obstacles to the efficient therapeutic development of oligonucleotide drugs. Utilizing molecules made from nucleic acids for therapeutic purposes has not yet been solved. Inadequate delivery to tissues and organs other than the liver has been achieved. Chemical alterations-related toxicology issues remain a significant cause for concern even after they have been approved for the market. In addition, the oligonucleotide synthesis market is anticipated to be constrained by a lack of qualified professionals with the necessary knowledge and funding for research in developing nations.
Opportunity
Emerging economies are offering a number of opportunities in the oligonucleotide synthesis market
The oligonucleotide synthesis market has been dominated by a number of developed nations, including the United States and Europe. However, due to rising demand for oligonucleotides and increased funding for R&D projects, low-penetrated emerging economies are anticipated to offer significant growth in the coming years. Moreover, the rising research in metabolomics, genomics, and proteomics as well as rising costs for healthcare, and ongoing advancements in the infrastructure of healthcare are expected to create numerous growth opportunities in the near future.
Since a few years ago, various stakeholders in the oligonucleotide synthesis market have identified the emerging economies of China, India, and ASEAN member countries in the Asia-Pacific region as highly lucrative markets. Due to the country’s expanding healthcare system, aging population, and expanding middle-class population, demand for genetic sequencing is expected to rise in China.
Trends
Rapid adoption of antisense oligonucleotides as anticancer drugs
For the treatment of cancer, antisense oligonucleotides are currently being favored on a larger scale. Antisense oligonucleotides are rapidly progressing as anticancer drugs despite obstacles like their unclear mode of action and targeted delivery. Trial outcomes for these molecules are anticipated to be improved by ongoing research into a number of chemical modifications that enhance their properties.
Increase in conductance of various studies using artificial gene synthesis
The amount of money spent on genomic research has significantly increased since the Human Genome Project was completed. Researchers are being encouraged to conduct studies using artificial gene synthesis in recognition of this potential. Expression analysis use has also grown as a result of advancements in companion diagnostic research and modern medicine initiatives. It is anticipated that a large number of these expression studies will increase the need for oligonucleotide synthesis.
Regional Analysis
North America accounted for the highest revenue share of 40.2% in 2023
Based on region, the oligonucleotide synthesis market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Due to the rising number of oligonucleotide-based drugs being approved by the Food and Drug Administration and the growing R&D activities, North America dominated the global oligonucleotide synthesis market. The oligonucleotide synthesis market in this region is expected to expand more significantly owing to the improved healthcare infrastructure, increased use of oligonucleotides in pharmaceutical companies, and numerous strategic collaborations between the market participants. Moreover, the oligonucleotide synthesis market is estimated to have high growth potential due to increasing initiatives by government bodies and the presence of a well-established healthcare system for novel treatment options.
Asia Pacific is projected as the fastest-growing market during the forecast period
Due to its rapid progress in genomic studies, Asia Pacific is the market that is expanding at the quickest rate, with increasing adoption of sequencing, array technology, and PCR products. With significant investments in genomics, Japan and China are the most lucrative markets in the region. Additionally, it is anticipated that a rising number of product launches and approvals will contribute to market expansion.
Key Regions
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
The market is fragmented due to the presence of a lot of players using different strategies, like the acquisition of players in emerging markets, forming distribution partnerships, and working together for the development of new technologies. The fact that industries in the oligonucleotide synthesis sector are also expanding and developing their product lines, contributes to the growth of the market as a whole and forms a competitive landscape among the key players. Listed below are some of the prominent oligonucleotide synthesis industry players
Market Key Players
- Thermo Fisher Scientific, Inc.
- Merck – Co., Inc.
- GE Healthcare Dharmacon Inc.
- Agilent Technologies
- Bio-synthesis
- Kaneka Eurogentec S.A.
- Integrated DNA Technologies, Inc.
- BioAutomation
- LGC Biosearch Technologies
- Other Key Players
Recent Developments
- In January 2024, Integrated DNA Technologies (IDT) expanded, opening a new facility in Europe to meet the rising demand for synthetic oligonucleotides, indicating market growth and increased competition.
- In October 2023, Thermo Fisher Scientific strengthened its qPCR tools by acquiring Bio-Rad’s High Throughput PCR Systems business.
- In August 2023, Agilent Technologies introduced the HaloPlex™ G4 system, utilizing microfluidic tech and custom oligonucleotides for advanced gene expression analysis.
- In June 2023, Merck expanded research, focusing on oligonucleotide therapies to address unmet medical needs, signaling potential new products and partnerships.
Report Features Description Market Value (2023) US$ 9.1 Bn Forecast Revenue (2033) US$ 44.9 Bn CAGR (2024-2033) 17.1% Base Year for Estimation 2023 Historic Period 2018-2022 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Product Type – Oligonucleotide-Based Drugs, Synthesized Oligonucleotides, Reagents, and Equipment; By End-User – Hospitals, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, CROs and CMOs, Academic Research Institutes; By Applications – Therapeutic Applications, Research Applications, and Diagnostic Applications Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Thermo Fisher Scientific, Inc., Merck – Co., Inc., GE Healthcare, Dharmacon Inc., Agilent Technologies, Bio-synthesis, Kaneka Eurogentec S.A., Integrated DNA Technologies, Inc., BioAutomation, LGC Biosearch Technologies, and Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three license to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the size of the Oligonucleotide Synthesis market in 2023?The Oligonucleotide Synthesis market size is USD 9.1 billion in 2023.
What is the projected CAGR at which the Oligonucleotide Synthesis market is expected to grow at?The Oligonucleotide Synthesis market is expected to grow at a CAGR of 17.3% (2024-2033).
List the segments encompassed in this report on the Oligonucleotide Synthesis market?Market.US has segmented the Oligonucleotide Synthesis market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Product Type the market has been segmented into Oligonucleotide-Based Drugs, Synthesized Oligonucleotides, Reagents, and Equipment. By Applications the market has been segmented into Therapeutic Applications, Research Applications, and Diagnostic Applications.
List the key industry players of the Oligonucleotide Synthesis market?Thermo Fisher Scientific Inc., Merck - Co. Inc., GE Healthcare Dharmacon Inc., Agilent Technologies, Bio-synthesis, Kaneka Eurogentec S.A., Integrated DNA Technologies Inc., BioAutomation, LGC Biosearch Technologies, Other Key Players
Which region is more appealing for vendors employed in the Oligonucleotide Synthesis market?North America is expected to account for the highest revenue share of 40.2% and boasting an impressive market value of USD 3.6 billion. Therefore, the Oligonucleotide Synthesis industry in North America is expected to garner significant business opportunities over the forecast period.
Name the key areas of business for Oligonucleotide Synthesis?The US, Canada, India, China, UK, Japan, & Germany are key areas of operation for the Oligonucleotide Synthesis Market.
Oligonucleotide Synthesis MarketPublished date: Jan 2024add_shopping_cartBuy Now get_appDownload Sample - Thermo Fisher Scientific, Inc.
- Merck - Co., Inc.
- GE Healthcare Dharmacon Inc.
- Agilent Technologies Inc. Company Profile
- Bio-synthesis
- Kaneka Eurogentec S.A.
- Integrated DNA Technologies, Inc.
- BioAutomation
- LGC Biosearch Technologies
- Other Key Players
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