The Growth Of Oligonucleotide Synthesis Market
SWOT Analysis
Strength: Oligonucleotide synthesis offers high specificity and customizability as per research needs. This is a key strength of the technology.
Weakness: Large scale oligonucleotide production requires specialized equipment and expertise, making it a complex and expensive process.
Opportunity: Growing applications of oligonucleotides in areas of genomics, NGS, gene therapy and molecular diagnostics is creating lucrative growth opportunities.
Threats: Stringent regulations associated with genetic research and therapeutics development can delay some projects. Intense competition among existing players also poses a threat.
Key Takeaways
The Global Oligonucleotide Synthesis Market Size was valued at US$ 3962.67 Mn in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 11% during the forecast period of 2023 to 2030 driven by the increasing demand for synthetic DNA and RNA constructs for various applications.
Regional analysis: North America currently dominates the oligonucleotide synthesis market owing to strong presence of leading commercial entities and growing research expenditure on synthetic biology and genetic engineering technologies in the US. Asia Pacific is expected to witness the highest growth during the forecast period with China and India emerging as lucrative markets.
Key players operating in the oligonucleotide synthesis market are Thermo Fisher Scientific, Sigma-Aldrich Corporation, GE Healthcare, Integrated DNA Technologies, Inc., TriLink Biotechnologies€TM, 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.
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