Oligonucleotide Synthesis Market Is Estimated To Witness High Growth Owing To Rising Demand for Synthetic Biology and the Emergence of COVID-19 Pandemic
The global Oligonucleotide Synthesis Market is estimated to be valued at US$2,874.1 million 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 is the process of artificially synthesizing short DNA or RNA sequences, also known as oligonucleotides. These synthetic DNA or RNA molecules find extensive applications in various fields such as research, diagnostics, therapeutics, and synthetic biology. Oligonucleotides are used in PCR (polymerase chain reaction), gene synthesis, gene editing, next-generation sequencing, drug discovery, and personalized medicine, among others. The global market for oligonucleotide synthesis is driven by the increasing demand for synthetic biology and the emergence of the COVID-19 pandemic, which has created a significant need for oligonucleotide-based diagnostics and therapeutics.
B) Market Dynamics:
1. Driver 1: Rising demand for synthetic biology
The field of synthetic biology has gained significant attention in recent years. Oligonucleotide synthesis plays a crucial role in synthetic biology by providing the essential building blocks for constructing synthetic DNA or RNA molecules. The growing applications of synthetic biology in industries such as healthcare, agriculture, and biofuels are driving the demand for oligonucleotide synthesis.
For example, in the healthcare sector, synthetic biology is being used to develop novel treatments for diseases such as cancer, genetic disorders, and infectious diseases. Oligonucleotide synthesis enables the production of DNA or RNA molecules that can be used for gene therapy, gene editing, and personalized medicine.
2. Driver 2: Emergence of the COVID-19 pandemic
The COVID-19 pandemic has created a massive demand for molecular diagnostic testing, and oligonucleotide-based assays have emerged as a key tool for detecting and monitoring the viral infection. Oligonucleotide synthesis is essential for the production of primers and probes used in PCR-based diagnostic tests for COVID-19. The increasing number of COVID-19 cases worldwide has led to a surge in demand for oligonucleotide-based diagnostic kits, driving the growth of the oligonucleotide synthesis market.
C) SWOT Analysis:
- Strengths:
1. Application versatility: Oligonucleotides have a wide range of applications in research, diagnostics, therapeutics, and synthetic biology, providing the market with a diverse customer base.
2. Technological advancements: The field of oligonucleotide synthesis has witnessed significant technological advancements, such as high-throughput synthesis methods and automated platforms, enabling efficient and cost-effective production of synthetic DNA or RNA molecules.
- Weaknesses:
1. High cost: Oligonucleotide synthesis can be expensive, especially for large-scale production, which may limit its adoption in some regions or industries with budget constraints.
2. Quality control challenges: Ensuring the quality and purity of synthesized oligonucleotides can be challenging, as impurities or errors in synthesis can affect their functionality and performance.
- Opportunities:
1. Growing demand for personalized medicine: Oligonucleotides are crucial for personalized medicine approaches, such as gene therapy and personalized diagnostics. The increasing focus on precision medicine presents significant opportunities for the oligonucleotide synthesis market.
2. Advancements in gene editing technologies: The recent advancements in gene editing technologies, such as CRISPR-Cas9, require high-quality oligonucleotides for efficient and precise genome editing. This creates opportunities for the oligonucleotide synthesis market.
- Threats:
1. Regulatory challenges: The oligonucleotide synthesis market is subject to regulatory requirements, particularly in the healthcare sector. Compliance with regulations related to manufacturing standards and safety could pose challenges for market players.
2. Intense competition: The oligonucleotide synthesis market is highly competitive, with the presence of several key players. The competition can lead to price wars and the need for continuous innovation to maintain market share.
D) Key Takeaways:
In conclusion, the global oligonucleotide synthesis market is expected to witness high growth, exhibiting a CAGR of 11.3% over the forecast period. The rising demand for synthetic biology and the emergence of the COVID-19 pandemic are the key drivers propelling market growth. Synthetic biology offers diverse applications in industries such as healthcare and agriculture, while the COVID-19 pandemic has created a significant need for oligonucleotide-based diagnostics and therapeutics.
Regionally, North America is expected to dominate the market, driven by strong research and development activities and a favorable regulatory environment. 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, and Twist Bioscience, among others. These companies focus on technological advancements, strategic collaborations, and new product launches to maintain their market presence and gain a competitive edge.
- Art
- Causes
- Crafts
- Dance
- Drinks
- Film
- Fitness
- Food
- Oyunlar
- Gardening
- Health
- Home
- Literature
- Music
- Networking
- Other
- Party
- Religion
- Shopping
- Sports
- Theater
- Wellness
- IT, Cloud, Software and Technology
English
Arabic
Français
Español
Português
Deutsch
Dutch
Italiano
Russian
Romaian