Oligonucleotides are short DNA or RNA molecules that are commonly produced synthetically and used as probes, primers or nucleic acid drugs. They are widely used for applications in molecular diagnostics, research and therapeutics. Oligonucleotides have become an important component in the development of molecular diagnostics tests for detection of infectious diseases, cancer mutations and genetic disorders.

The global oligonucleotide synthesis market is estimated to be valued at US$ 3,962.67 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rising use of oligonucleotides in molecular diagnostic tests is the key driver expected to propel growth of the oligonucleotide synthesis market over the forecast period. Oligonucleotides function as primers and probes in polymerase chain reaction (PCR) based diagnostic tests. Increasing incidence of chronic and infectious diseases worldwide has driven the demand for advanced diagnostics using techniques like PCR and next generation sequencing which further require oligonucleotides. According to World Health Organization (WHO), chronic diseases accounted for approximately 71% of all global deaths in 2016. Another driver fueling the market growth is increasing R&D in nucleic acid therapies. Nucleic acid based drugs like antisense oligonucleotides, siRNA and miRNA require oligonucleotides for development and production. Growing pipeline of oligonucleotide drugs to treat rare and orphan diseases is expected to present lucrative growth opportunities.

SWOT Analysis

Strength:

The oligonucleotide synthesis market is experiencing high demand due to the wide applications of oligonucleotides in molecular biology research, genetic testing, and clinical diagnosis. Advancements in synthesis technologies have increased throughput and reduced costs over time. Customized oligo synthesis allows researchers to design nucleotide sequences as per their requirement.

Weakness:
The cost and time involved in solid-phase oligonucleotide synthesis can be high for long oligonucleotides. Delivering high purity and quality standards for all oligo sequences poses challenges.

Opportunity:
Increasing R&D investment and government funding for genomics research and precision medicine presents lucrative opportunities. Growing application areas such as DNA sequencing, antibody production, and molecular diagnostics will drive demand.

Threats:
Intense competition among major players threatens pricing and market share. Stringent regulations can delay product approvals and market entry.

Key Takeaways:
The Global Oligonucleotide Synthesis Market Size  is expected to witness high growth over the forecast period of 2023 to 2030. Advancements in nucleic acid research and molecular diagnostics are driving market growth. The market was valued at around US$ 3962.67 Mn in 2023 and is anticipated to grow at a CAGR of 11% through 2030.

North America currently dominates the oligonucleotide synthesis market owing to extensive research activity and presence of leading companies. The Asia Pacific region is expected to witness the fastest growth on account of increasing investments by governments and private organizations in biotechnology and pharmaceutical research. Countries such as China, Japan and India are emerging as major hubs for biotechnology and life sciences.

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. These companies have extensive expertise and hold prominent market shares. Partnerships, acquisitions and new product launches are some key strategies adopted by market players to strengthen their foothold.

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