Oligonucleotide Synthesis Market in terms of revenue was estimated to be worth $8.8 billion in 2024 and is poised to reach $19.7 billion by 2029, growing at a CAGR of 17.5% from 2024 to 2029 according to a new report by MarketsandMarkets™.
One of the key factors driving the market growth is the growing acceptance of alternate therapies such as oligonucleotide-based therapies for the treatment of neurological and rare diseases. The incorporation of synthesized oligonucleotides to treat various diseases also supports market growth.
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Probes accounted for the second-largest segment of the synthesized oligos product segment
Probes are an important subsegment in the market for synthesized oligonucleotides. The segment accounted for the second-largest market share of the synthesized oligonucleotide market. This is due to high specificity and sensitivity of probes allowing their use in genetic research, pathogen detection, clinical diagnostics, and the study of gene expression patterns, offering insights into diverse biological processes and disease mechanisms. Techniques such as fluorescence in situ hybridization (FISH) utilize these probes for the detection of various genetic abnormalities that the root cause of several birth defects, neurological conditions and cancers among others.
Hospitals accounted for the largest share of the end-user segment in the oligonucleotide synthesis market
By end user, hospitals accounted for the largest share of the oligonucleotide synthesis market in 2023. Growth in this market is largely driven by the significant number of FDA-approvals for oligonucleotide-based drugs especially antisense oligonucleotide drugs for rare and neurological diseases, increasing awareness towards alternative therapies and growing health-care spending. Ongoing research to develop oligonucleotide-based drugs for more common diseases such as cardiovascular diseases, supported by availability of reimbursement policies in developed economies are aiding this segment's growth.
The PCR subsegment accounted for the largest share of the research applications segment in the oligonucleotide synthesis market
PCR accounted for the largest share of the research application subsegment of the oligonucleotide synthesis market. PCR technologies such as real-time PCR or quantitative PCR (qPCR) used for both qualitative and quantitative analysis in the fields of molecular diagnostics, medicine, microbiology, and forensic biology are driving end-user demand. These PCR applications utilize sequence-specific primers, thus boosting the market for oligos (which are used as probes and primers) in the PCR market.
North America to register the highest CAGR in the oligonucleotide synthesis market.
The North America region is expected to show the highest CAGR of the oligonucleotide synthesis market. The growing investments in research and development by major pharmaceutical & biotechnology companies, increasing application of oligonucleotides in pharmaceutical drug research, and growing public & private sector investments in genomics and related technologies are expected to aid market growth in the North America.
Oligonucleotide Synthesis Market Dynamics:
Drivers:
- Increasing use of synthesized oligos in therapeutic and diagnostic applications
- Technological advancements
- Growing government investments in life science research and synthetic biology
- Growing focus on precision/personalized medicine
Restraints:
- Complexities associated with therapeutic oligonucleotides
Opportunities:
- Increasing R&D investments by key players in emerging economies
Challenge:
- Lack of standard regulations
- Delivery of oligonucleotide drugs to specific targets
Key Market Players of Oligonucleotide Synthesis Industry:
Some leading players operating in the oligonucleotide synthesis market are Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Eurofins Scientific (Luxembourg), LGC Limited (UK), Agilent Technologies, Inc. (US), Kaneka Corporation (Japan), Maravai Lifesciences holdings, Inc. (US), Azenta, Inc. (US), Twist Bioscience Corporation (US) and Genscript Biotech Corporation (US). Major players in the oligonucleotide therapeutics market are Biogen Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), Astrazeneca (UK), Astellas Pharma Inc. (Japan), Jazz Pharmaceuticals Plc (Ireland), Nippon Shinyaku, Co. Ltd. (Japan), Ionis Pharmaceuticals, Inc. (US) and Novartis AG (Switzerland).
DANAHER CORPORATION (US)
Danaher is one of the key players in the oligonucleotide synthesis market. The company through its two major subsidiary Integrated DNA Technologies (IDT) and Cytiva offers various products such as predesigned and custom oligonucelotide probes, primers, as well as therapeutic oligonucleotides such as ASOs, apart from this the company provides reagents, consumables and equipments such as synthesizers for oligonucelotide synthesis. Geographically, the company operates in more than 50 countries across North America, Asia Pacific, Europe, the Middle East, and Africa. IDT and Cytiva uses organic strategies such as expansions and partnerships as their key growth strategies.
THERMO FISHER SCIENTIFIC, INC. (US)
Thermo Fisher Scientific (US) held the second-largest share in the oligonucleotide synthesis market. This significant share is due to the pressnec of a strong product portfolio, including custom and predesigned primers, probes, DNA, and RNA oligos, as well as reagents and consumables. The company undertakes various organic and inorganic strategies to strengthen its position in the market.
BIOGEN, INC. (US)
Biogen held a leading position in the oligonucleotide-based drugs market. Recent FDA accelerated approval for QALSODY (Tofersen) for the treatment of amyotrophic lateral sclerosis (ALS) in adults and a growing adoption its blockbuster drug, Spinzara, an oligonucleotide-based drug offered by the company since 2016 are factors supporting its leading position in the market. The company has its oligonucleotide synthesis manufacturing (OSM) facility in North Carolina, which is utilized for manufacturing antisense oligonucleotide drugs like SPINRAZA and other antisense oligonucleotide drug candidates, which are currently in the pipeline. The company focuses on various strategies such as expansions and collaborations to strengthen its position in the market.
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