The Growing Oligonucleotide Synthesis Market Is Driven By Rising Healthcare R&D Investments
Oligonucleotides are short nucleic acid polymers used in research, diagnostic, and therapeutic applications. Some key uses of oligonucleotides include gene expression profiling, next-generation sequencing, microarrays, DNA methylation studies, and as therapeutic agents. Demand for oligonucleotides is growing in biotechnology and pharmaceutical companies engaged in drug discovery and development. The global oligonucleotide synthesis market is characterized by continuous technological advancements to enable efficient custom oligo design and large-scale synthesis. The Global Oligonucleotide Synthesis Market is estimated to be valued at US$ 4565 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Oligonucleotide Synthesis Market Demand are Forte Research Systems (India), ICON plc (Ireland), Merge healthcare incorporated (U.S.), Bio-Optronics (U.S.), DSG INC (U.S.), ArisGlobal (India), ERT Clinical Bioclinica (U.S.), Oracle Corporation (U.S.), Medidata Solutions (U.S.), DATATRAK International, Inc. (U.S.), and MedNet Solutions, Inc., (U.S.) among others. Major players are focusing on partnerships and collaborations to expand their product portfolios and geographic presence.
The growing demand is attributed to increasing applications of oligonucleotides in areas of gene editing, diagnostics, medical research, and therapeutics. Rising research in fields of molecular genetics, synthetic biology and therapeutics requiring artificial gene synthesis is expected to propel market growth during the forecast period.
The market is witnessing global expansion with presence of key players in regions of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global oligonucleotide synthesis market due to higher healthcare R&D expenditures and well-established pharmaceutical industry. However, Asia Pacific market is envisioned to grow at a higher CAGR owing to increasing government support for life science research.
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