Oligonucleotide Synthesis Market to Reflect Impressive Growth in Biotechnology Sector
Oligonucleotide synthesis market is experiencing significant growth due to the increasing research activities in the pharma and biotech sectors and the rising demand for innovative diagnostic and therapeutic techniques.
What the Market Looks Like? 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%.
Therapeutic Application: 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. Also, from 2016 to 2018, more than five oligonucleotide-based therapies were approved by the FDA. In 2018, these oligonucleotide-based drugs generated a revenue of ~USD 2 billion. Apart from this, there are a couple of oligonucleotide-based drugs in Phase III and FDA review, and these drugs might be launched in the next five years and may positively impact this market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200829350 Oligonucleotide-based Drugs: Oligonucleotide-based accounted for over 50% of the synthesized oligos market share in 2018. This segment is also estimated to grow at the highest CAGR during the forecast period due to the increasing demand for oligonucleotide-based drugs and the influx of new customers in the oligo drug development arena. Apart from this, there are a few oligonucleotide-based drugs in Phase III and FDA review, and these drugs might be launched over the next five years which will positively impact this market.
North America and Europe to Dominate Oligonucleotide Synthesis Industry:
The global oligonucleotide synthesis industry is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America was the largest market for share, followed by Europe. Moreover, North America is estimated to register the highest CAGR during the forecast period primarily due to the increasing R&D activities and the growing number of oligonucleotide-based drugs/therapies being approved by the FDA.
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Key Players in Oligonucleotide Synthesis Market: The key players operating in this market include Agilent Technologies, Inc. (US), ATDBio Ltd. (UK), Bio-Synthesis, Inc. (US), BioAutomation Corporation (US), LGC Biosearch Technologies (US), Biogen International (US), Sarepta Therapeutics (US), Eurofins Genomics (Germany), Eurogentec (Belgium), GeneDesign, Inc. (Japan), GE Healthcare (US), GenScript, Inc. (US), Integrated DNA Technologies (IDT, US), Nitto Denko Avecia, Inc. (US), Sarepta Therapeutics (US), Thermo Fisher Scientific, Inc. (US), TriLink BioTechnologies (US), and Sigma-Aldrich Corporation (US) (a part of Merck KGAA).