The most recent study conducted by Report Ocean, titled “Global Oligonucleotide Synthesis Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Oligonucleotide Synthesis. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Oligonucleotide Synthesis Market Size study, By Product (Oligonucleotide-Based Drugs, Synthesized Oligonucleotides, Reagents, Equipment), By Application (Research Applications {PCR, Sequencing, Other Research Applications}, Diagnostic Applications), By Type (Antisense Oligonucleotide-Based Therapies, Rnai Oligonucleotide-Based Therapies, Cpg Oligonucleotide-Based Therapies, By Disease Type:, Neurological Disorders, Infectious Diseases, Other Diseases), By End-Use (Hospitals, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, Cros And Cmos, Academic Research Institutes), and Regional Forecasts 2022-2028Global Oligonucleotide Synthesis Market is valued approximately USD 5.36 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 17.6% over the forecast period 2022-2028.
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Oligonucleotide synthesis is the chemical fusion of comparatively short fragments of nucleic acids with a defined chemical structure or sequence. The technique is majorly used in laboratory practice as it offers a fast and cost-effective way to contact custom-made oligonucleotides of the anticipated sequence. Moreover, it is also beneficial for performing molecular diagnosis in various diseases, involves detection of infectious diseases like SARS-COV2, hepatitis, and cancer diagnosis. The growing adoption of synthesized oligos in therapeutic applications, the with the growing focus on personalized medicin, coupled with the increasing number of government investments for synthetic biology and genome projects, are the major factors that may augment the market growth around the world. For instance, in August 2019, the Li Ka Shing Foundation (Hongkong) contributed USD 63 million for the introduction of the main institute for synthetic biology research at the Hong Kong University of Science and Technology (HKUST).
The aim of this investment is to establish a new institute that will conduct research in synthetic biology for merging the processes and materials of biological systems & engineering. Moreover, in January 2020, in India, the Department of Biotechnology (DBT) introduced the “Genome India Project” (GIP) with the objective of accumulating10,000 genetic samples from citizens in India to create a reference genome. The major targeted areas of this project are rare genetic disorders, precision health, mutation spectrum of genetic & complex diseases that occur in the Indian population, translational research, and genetic epidemiology of multifactorial lifestyle diseases. However, complexities associated with therapeutic oligos impede the growth of the market over the forecast period of 2022-2028. Also, the growing presence of the leading market players in emerging economies is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Oligonucleotide Synthesis Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing demand for high-quality research tools for data reproducibility and the presence of leading market players in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as increasing focus on improving the safety & quality of healthcare and developing personalized therapeutics, as well as increasing number of R&D activities in life sciences, would create lucrative growth prospects for the Oligonucleotide Synthesis Market across the Asia-Pacific region.
Major market players included in this report are:
Danaher Corporation
Thermo Fisher Scientific, Inc.
Merck KGaA
Maravai Life Sciences
Agilent Technologies, Inc.
Biogen Inc.
Sarepta Therapeutics, Inc.
LGC Biosearch Technologies
Bio-synthesis Inc.
TriLink BioTechnologies, LLC
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Oligonucleotide-based Drugs
Synthesized Oligonucleotides
Reagents
Equipment
By Application:
Research Applications
PCR
Sequencing
Other Research Applications
Diagnostic Applications
By Type:
Antisense Oligonucleotide-based Therapies
RNAi Oligonucleotide-based Therapies
CpG Oligonucleotide-based Therapies
By Disease Type:
Neurological Disorders
Infectious Diseases
Other Diseases
By End-Use:
Hospitals
Pharmaceutical & Biotechnology Companies
Diagnostic Laboratories
CROs and CMOs
Academic Research Institutes
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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