Oligonucleotide Synthesis Market Segmented By Universal Oligonucleotide Synthesis, Custom Oligonucleotide Synthesis Service Type with Academic, Commercial Application
Oligonucleotides are short fragments of nucleic acids and play a major role in drug discovery and molecular diagnostic chip technology. Oligonucleotide synthesis occurs either commercially to provide services for various end users or individually via DNA synthesizers for self-consumption.
The achievements of life sciences researchers and scientists in the recent years have expanded the understanding of biological systems at the molecular level, which has generated more opportunities and growth in life sciences research and applications.
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Thus, there are continuous growth opportunities for key players in the global oligonucleotide synthesis market. A new research report by Persistence Market Research titled ‘Oligonucleotide Synthesis Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025’ presents a complete overview of the global oligonucleotide synthesis market. According to the forecast, the global oligonucleotide synthesis market is expected to reach a market value of over US$ 770 Mn by 2025. The global market is expected to grow at an exceptional rate with a CAGR of 13.9% during the forecast period.
Global Oligonucleotide Synthesis Market: Drivers
Primarily the global oligonucleotide synthesis market is helped by the increase in research activities all over the world. The government is also supporting the research processes taking place especially in the healthcare sector. Government initiatives aimed towards attracting foreign players by providing various grants and subsidies are expected to boost the entry of major market players in emerging countries, thereby driving the regional markets.
The market also has a systematic distribution channel that helps in maintaining the proper flow of products in the market, which in turn helps in improving the demand for oligonucleotide synthesis.
However, the lack of a proper regulatory framework in emerging markets for pharmaceutical and molecular research activities is likely to hamper market revenue growth as the research activities for therapeutic applications of oligonucleotides also need to follow certain regulatory guidelines and absence of these guidelines restricts therapeutic research activities. This is expected to have a negative impact on the oligonucleotide synthesis market.
Global Oligonucleotide Synthesis Market: Segmental Analysis
Based on Region, Asia Pacific is expected to dominate the global oligonucleotide synthesis market with a robust growth rate of 9.8% during the forecast period. However North America is expected to hold the maximum market value during the study period.
Based on Service Type, the custom oligonucleotide synthesis segment is expected to lead the global market during the forecast period.
On the basis of Application, the academic R&D segment dominates the global oligonucleotide synthesis market in terms of revenue with the highest growth rate and revenue share. The academic R&D segment is expected to witness a CAGR of 8.4% during the forecast period.
On the basis of End Users, the academic and research institutes segment dominates the global oligonucleotide synthesis market. The biopharmaceuticals companies segment is also expected to grow at a rate similar to academic and research institutes.
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Health ,
Jun 12, 2023
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