According to the recent report “Oligonucleotide Synthesis Market by Product (Probe, Linkers, Adaptor, Drugs, Reagent, Equipment), Type (Custom, Pre Design), Application (PCR, DNA, RNAi, Research, Therapeutic), End User (Hospital, Pharmaceutical, Biotechnology) – Global Forecast to 2024″, The global oligonucleotide synthesis market is projected to reach USD 8.2 billion by 2024 from USD 4.3 billion in 2019, at a CAGR of 13.7%.
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Therapeutic applications segment to grow at the highest CAGR during the forecast period
Based on application, the oligonucleotide synthesis market is segmented into research, diagnostic, and therapeutic applications. The therapeutic applications segment, which is further segmented into RNAi oligonucleotide-based therapies, DNA & antisense oligonucleotide-based therapies, and CpG oligonucleotide-based therapies, is estimated to witness the highest growth during the forecast period. This can primarily be attributed to the investments made by companies to explore the therapeutic applications of oligos.
Hospitals accounted for the largest share of the oligonucleotide synthesis market, by end user, in 2018
Based on end user, the oligonucleotide synthesis market is segmented into academic research institutes, diagnostic laboratories, pharmaceutical & biotechnology companies, and hospitals. Hospitals accounted for the largest share of the oligonucleotide synthesis market in 2018.
Geographical Growth Analysis:
The oligonucleotide synthesis market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the oligonucleotide synthesis market majorly due to the availability of funds for research from various public- and private-sector organizations in the region and the focus of various prominent players on strengthening their presence in North America through product launches and strategic acquisitions and collaborations & agreements. Europe was the second-largest regional market for oligonucleotide synthesis in 2018.
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The prominent players operating in the oligonucleotide synthesis market include BioAutomation Corporation (US), LGC Biosearch Technologies (US), Eurogentec (Belgium), GeneDesign, Inc. (Japan), Sarepta Therapeutics (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US).