Oligonucleotide Synthesis Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Product (Oligonucleotide Synthesis Products, Synthesized Oligonucleotides, Reagents, and Others); Application (DNA Sequencing and Amplification (PCR), Diagnostics, Therapeutics, and Others); End-User (Research Institutes, Diagnostic Laboratories, Pharmaceuticals Industries, Biotechnology Companies, and Others); Regions/Country.
The global oligonucleotide synthesis market is expected to grow at a significant rate of around 12% during the forecast period. The synthesis of oligonucleotides can be used for a lot of things, like sequencing DNA, making artificial genes, and diagnosing a lot of diseases that are caused by genetic mutations. The oligonucleotide synthesis market is being driven by some major factors, including advancements in the synthesis of oligonucleotides and expanding research efforts in the synthetic and biological fields. The new microchip-based oligonucleotide synthesis and the increasing prevalence of DNA microarray technology in the use of oligonucleotides for diagnostic and therapeutic purposes are expected to boost the growth of the global oligonucleotide synthesis market during the forecast period.
The expanding research activities and partnerships of numerous pharmaceutical companies and research institutes are driving the oligonucleotide synthesis market. For instance, CordenPharma International and GE Healthcare Dharmacon Inc. entered into a 2017 agreement to develop a complete oligonucleotide-based drug discovery system. In addition, the oligonucleotide synthesis market is anticipated to expand during the forecast period due to a decrease in sequencing costs and the development of novel methods.
Danaher Corporation, Twist Bioscience Corporation, Merck KGaA, Eurofins Scientific SE, Thermo Fisher Scientific Inc., Agilent Technologies Inc., GE Healthcare, LGC Biosearch Technologies, Bio-synthesis Inc., Biotage are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, oligonucleotide synthesis products category to witness robust CAGR during the forecast period”
Based on product, the market is segmented into oligonucleotide synthesis products, synthesized oligonucleotides, reagents, and others. Oligonucleotide synthesis product category is to witness considerable CAGR during the forecast period. This is primarily attributable to the products of oligonucleotide synthesis, particularly antisense oligonucleotides, and interference RNA, which are a component of a growing number of pharmaceutical and biotechnology programs for the treatment of a variety of indications, such as cancer, cardiovascular diseases, neurogenerative diseases, and neuromuscular diseases. For instance, according to the Muscular Dystrophy Association (MDA), in Europe and North America, the prevalence of DMD is approximately 6 per 100,000 individuals.
“Amongst end-user, the diagnostic laboratories category to hold a significant share in the market in 2020”
On the basis of drive type, the market is categorized into research institutes, diagnostic laboratories, pharmaceutical industries, biotechnology companies, and others. Among these, diagnostic laboratories to hold a significant share of the market in 2020. This is mainly due to the increasing demand for oligonucleotides in diagnostic applications and the growing number of laboratories around the globe. For instance, according to ILAC MRA (International Laboratory Accreditation Cooperation) and Signatories, in 2021, almost 85,000 laboratories and over 600 proficiency testing providers were accredited globally.
“North America to hold a significant share in the market”
For a better understanding of the market adoption of oligonucleotide synthesis, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is hoding a significant share in the market. This is mainly due to the emergence of new guidelines, substantial investments in research into the creation of novel oligonucleotides, and expanding use of novel technologies. In addition, the growing number of cancer cases in North America is also a major factor in the growth of the market in the region. For instance, according to the data published by the American Cancer Society (ACS), in January 2020, around 1.8 million new cancer cases were diagnosed and 606,520 cancer deaths in the United States.
Furthermore, with the rising demand for diagnostic tools and the growing awareness of the new oligonucleotide synthesis technique among numerous research organizations, the Asia-Pacific region is also expected to drive the global oligonucleotide synthesis market during the forecast period.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Oligonucleotide Synthesis Market|
|2.2.||Research Methodology of the Oligonucleotide Synthesis Market|
|5||IMPACT OF COVID-19 ON THE OLIGONUCLEOTIDE SYNTHESIS MARKET|
|6||OLIGONUCLEOTIDE SYNTHESIS MARKET REVENUE, 2020-2028F|
|7.1.||Oligonucleotide Synthesis Products|
|8.1.||DNA Sequencing and Amplification (PCR)|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.4.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||OLIGONUCLEOTIDE SYNTHESIS MARKET OPPORTUNITIES|
|13||OLIGONUCLEOTIDE SYNTHESIS MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porters Five Forces Analysis|
|17.2.||Twist Bioscience Corporation|
|17.4.||Eurofins Scientific SE|
|17.5.||Thermo Fisher Scientific Inc.|
|17.6.||Agilent Technologies Inc.|
|17.8.||LGC Biosearch Technologies|
Research Methodology for the Oligonucleotide Synthesis Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global oligonucleotide synthesis market were the three major steps undertaken to create and analyze the adoption of the oligonucleotide synthesis market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global oligonucleotide synthesis market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the oligonucleotide synthesis market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the oligonucleotide synthesis market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Oligonucleotide Synthesis Market. Further, we conducted factor analysis using dependent and independent variables such as various product, application, and end-user of oligonucleotide synthesis market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the oligonucleotide synthesis market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global oligonucleotide synthesis market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the oligonucleotide synthesis market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global oligonucleotide synthesis market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global oligonucleotide synthesis market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, application, and end-user in the global oligonucleotide synthesis market.
The main objective of the Global Oligonucleotide Synthesis Market Study
The current & future market trends of the global oligonucleotide synthesis market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the oligonucleotide synthesis market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, application, and end-user.
- Define and analysis of the regulatory framework for the oligonucleotide synthesis market.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the oligonucleotide synthesis market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Oligonucleotide Synthesis Market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry