Global Oligonucleotide Synthesis Market is Estimated To Witness High Growth Owing To Increasing Demand for Therapeutic Oligonucleotides and Growing Applications in Molecular Diagnostics
The global Oligonucleotide Synthesis market is estimated to be valued at US$ 2,874.1 Mn in 2020 and is expected to exhibit a CAGR of 11.3% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Oligonucleotide synthesis involves the production of short sequences of nucleic acids, typically DNA or RNA, which are widely used in various applications such as gene synthesis, genetic testing, molecular diagnostics, and as therapeutic agents in the treatment of genetic and infectious diseases. Oligonucleotides are also extensively used in the development of next-generation sequencing (NGS) technologies, which play a crucial role in genomics research and personalized medicine. The increasing demand for therapeutic oligonucleotides, growing applications in molecular diagnostics, and advancements in oligonucleotide synthesis technologies are driving the growth of the global oligonucleotide synthesis market.
B) Market Dynamics:
1. Driver one: Increasing demand for therapeutic oligonucleotides
The use of oligonucleotides as therapeutic agents has gained significant attention in recent years. Therapeutic oligonucleotides can target specific genes or proteins involved in disease pathways and offer potential treatment options for various genetic and infectious diseases, including cancer, cardiovascular diseases, and rare genetic disorders. The growing prevalence of these diseases and the need for personalized medicine are driving the demand for therapeutic oligonucleotides.
For example, in 2016, the U.S. Food and Drug Administration (FDA) approved the first RNA interference (RNAi) therapeutic, patisiran, for the treatment of hereditary transthyretin-mediated amyloidosis (hATTR). This approval has paved the way for the development and commercialization of other therapeutic oligonucleotides, driving the growth of the oligonucleotide synthesis market.
2. Driver two: Growing applications in molecular diagnostics
Oligonucleotides play a crucial role in molecular diagnostics, which involve the detection of genetic variations associated with diseases. Oligonucleotide probes are used as hybridization probes in techniques such as polymerase chain reaction (PCR), microarrays, and fluorescence in situ hybridization (FISH) for the detection and quantification of specific DNA or RNA sequences. The increasing demand for molecular diagnostics for early disease detection, personalized medicine, and monitoring of treatment responses is driving the growth of the oligonucleotide synthesis market.
For instance, in the COVID-19 pandemic, oligonucleotide-based tests such as reverse transcription PCR (RT-PCR) have been widely used for the detection of the SARS-CoV-2 virus. The increasing demand for diagnostic tests and the development of rapid and accurate detection methods are expected to boost the demand for oligonucleotide synthesis.
C) SWOT Analysis:
Strengths:
1. Increasing demand for therapeutic oligonucleotides
2. Growing applications in molecular diagnostics
Weaknesses:
1. High cost of oligonucleotide synthesis
2. Complex regulatory landscape for therapeutic oligonucleotides
Opportunities:
1. Advancements in oligonucleotide synthesis technologies
2. Emerging applications in targeted therapies and gene editing
Threats:
1. Competition from alternative methods for genetic testing
2. Stringent regulatory requirements for therapeutic oligonucleotides
D) Key Takeaways:
Paragraph 1: The global Oligonucleotide Synthesis Market is expected to witness high growth, exhibiting a CAGR of 11.3% over the forecast period, due to increasing demand for therapeutic oligonucleotides. The development of RNAi therapeutics and the approval of patisiran by the FDA are driving the growth of the market.
Paragraph 2: North America is expected to dominate the global oligonucleotide synthesis market, owing to the presence of major pharmaceutical and biotechnology companies, well-established healthcare infrastructure, and favorable reimbursement policies. However, the Asia Pacific region is expected to witness the fastest growth, attributed to the increasing investments in genomics research, growing biopharmaceutical industry, and government initiatives to promote precision medicine.
Paragraph 3: Key players operating in the global oligonucleotide synthesis market include Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies, Inc., BioAutomation Corporation, Twist Bioscience, Shanghai SynTheAll Pharmaceutical Co., CUSABIO Technology LLC, Synbio Technologies, GENEWIZ, Eurofins Scientific, Agilent Technologies, Kaneka Eurogentec S.A., and LGC Biosearch Technologies. These players are focusing on technological advancements, strategic collaborations, and product launches to strengthen their market position and expand their product offerings in the oligonucleotide synthesis market.
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