Synthetic biology is an upcoming field and industry, which has numerous applications in the chemical, agriculture, pharmaceutical and energy sectors. There are various start-up companies that are providing the products/services for the biological processes. Companies such as, Benchling which operates in CAD Tools, GenScript offers gene synthesis, Ginkgo Bioworks works for the organism engineering, Transcriptis which is into bioinformatics operates for cloud labs/automation, Glowee offers consumer products, among the other companies operating in the synthetic biology.
Globally, the synthetic biology has set benchmark with its innovations and the dynamic results. The industry has attracted various global leaders to invest for synthetic biology. For instance, synthetic DNA manufacturer DNA Script has announced a Series A fundraising of 11 million euros ($13 million) led by Illumina Ventures, with additional investment from Merck Ventures BV, the corporate venture arm of Merck KGaA, plus existing investors Sofinnova Partners, Kurma Partners, and Idinvest Partners. Owing to the rising investment for the synthetic biology companies, the need and demand for the synthetic biology for the development of the new techniques may increase the market in the future years.
Oligonucleotide Synthesis Market to 2027- Global Analysis and Forecasts By Product (Synthesized Oligonucleotides, Reagents, and Equipment), Application (Research, Diagnostics, and Therapeutics), End User (Academic Research Institutes, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, and Other End Users), and Geography
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Asia Pacific oligonucleotide synthesis market is expected to grow at highest rate during the forecast period owing to higher number of research & development and biotechnological industry in countries such as, Japan and China, prevalence of cancer as well as strategic developments made by the companies. In addition, emergence of new local players with competitive product portfolio are expected to fuel the market growth in Asia Pacific region.
The global oligonucleotide synthesis market accounted to US$ 1,584.16 Mn in 2018 and is expected to grow at a CAGR of 11.1% during the forecast period 2019 - 2027, to account to US$ 3,971.72 Mn by 2027.
Oligonucleotides have many applications in research, diseases diagnosis, therapeutics, forensic, drug discovery, agriculture and many more. Oligonucleotides are used in many biological and forensic applications as sequence-specific binding agents can help in identifying presence of a specific target DNA sequence. Synthetic oligonucleotides are short stretches of single stranded DNA fragments assembled by chemical synthesis. There is hardly a field in biology in which synthetic DNA has not been used or does not have the potential to be used. The main reason for such a turnabout is the simultaneous developments of methods for the rapid and efficient synthesis of oligonucleotides and the advent of molecular biology techniques. Researchers are also using oligonucleotides to produce more efficient, greener chemical synthesis. By assembling oligonucleotides together into longer fragments that encode synthetic genes, bacteria or yeast cells can be instructed to produce specific enzymes (a type of protein). Oligonucleotides has tremendous potential for treating wide range of medical conditions. They enable the development of therapeutics as the malfunctioning genes can be targeted, manipulated, silenced and/or modulated. Ionis Pharmaceuticals has dedicated its existence to oligonucleotide therapeutic development, particularly antisense oligonucleotide (ASO) therapeutics. Thus, the promising potential of synthesized oligonucleotides in various fields drives the market growth.
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