The oligonucleotide synthesis market To Surge at a CAGR of 10.1% and is projected to reach USD 1,918.6 Million by 2020

Press Release   •   Jan 19, 2017 04:50 EST

Oligonucleotides are single-stranded and short RNA or DNA molecules with applications in research, forensics, and genetic testing. Oligonucleotides are made by chemical synthesis in the laboratory, and are used in therapeutics, cell cultures, library preparations, human identity testing, nucleic acid array-based technology, diagnostics, genetic engineering, next-generation sequencing, synthetic biology, genomics, cloning, and nucleic acid-based detection.

Growth in the market is driven by rising demand for synthesized oligonucleotides due to the growing field of molecular diagnostics, increasing government investments to develop genomic technologies, rising venture capital investments, and increasing demand for synthetic genes. The increasing applications of oligonucleotides in nucleic acid array-based technologies, library preparations, next-generation sequencing (NGS), genomics, nucleic acid-base detections, cell cultures, diagnostics, therapeutics, human identity testing, cloning, and genetic engineering and synthetic biology also play a vital role in driving the growth of this market. However, price erosion and lack of regulations for therapeutic oligonucleotides could hinder the growth of this market.

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The oligonucleotide synthesis market in this report is segmented on the basis of products and services, applications, end users, and regions. Based on product and services, the market is segmented into synthesized oligonucleotides, reagents, and equipment. The synthesized oligonucleotide segment is further bifurcated on the basis of products and services. On the basis of product, the synthesized oligonucleotide segment is categorized into primers, probes, large-scale synthesis oligos, and intermediate-scale synthesis oligos; whereas, by service, the synthesized oligonucleotide segment is categorized into custom oligos and predesigned oligos. The synthesized oligonucleotides segment is expected to dominate the market by accounting for the largest share in 2015, and it is also expected to experience the highest growth rate during the forecast period. High growth in this segment is attributed to the increasing number of applications of synthesized oligonucleotides in research, diagnostics, and therapeutics. The rising demand for custom oligos also contributes to the growth of the synthesized oligonucleotides market.

On the basis of applications, the oligonucleotide synthesis market is categorized into research, diagnostic, and therapeutic applications. The research applications include PCR, qPCR, sequencing, gene synthesis, and other research applications (nucleic acid-based testing, isothermal nucleic acid technology, binding studies, gel shift assays, and fluorescence in situ hybridization (FISH)). The therapeutic applications segment includes RNAi, DNA/antisense oligos, nucleic acid aptamers, and other therapeutic applications (immunostimulatory agents in immunotherapy applications). The research applications segment is expected to dominate the market; however, the diagnostic applications segment is expected to grow at the highest CAGR during the forecast period. High growth of this segment is attributed to the rapidly growing fields of molecular diagnostics (MDx), emerging technologies such as DNA sequencing and next-generation sequencing (NGS).

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The oligonucleotide synthesis market by end user is segmented into academic and research institutes, pharmaceutical and biotechnology companies, diagnostic laboratories, and other end users (private laboratories and hospitals). The diagnostic laboratories segment is expected to grow at the highest CAGR during the forecast period.

The global oligonucleotide synthesis market is dominated by North America, followed by Europe. The market in Asia is expected to grow at the highest CAGR during the forecast period, owing to factors such as growing availability of synthesized oligos, increase in R&D funding and activities in the APAC region, as well as increasing focus of prominent players on the APAC region.

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Key market players include Agilent Technologies, Inc. (U.S.), BioAutomation Corporation (U.S.), BioSearch Technologies (U.S.), Eurofins Genomics (Germany), Eurogentec (Belgium), GeneDesign Inc. (Japan), GE Healthcare (U.K.), Gen9 Inc. (U.S.), GenScript Inc. (U.S.), Integrated DNA Technologies (IDT) (U.S.), Nitto Denko Avecia Inc. (Japan), Thermo Fisher Scientific, Inc. (U.S.), TriLink Biotechnologies (U.S.), and Sigma-Aldrich Corporation (U.S.).

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