Oligonucleotide synthesis is used in various applications such as next-generation sequencing (NGS) methods, nucleic acid array-based technologies, therapeutics, library preparations, human identity testing, genomics, nucleic acid-base detections, cell cultures, cloning, diagnostics, and genetic engineering and synthetic biology. The global oligonucleotide synthesis market is growing at a significant rate, due to the mounting usage of synthesized oligonucleotides in molecular diagnostics and clinical applications, and intensifying demand for synthesized oligonucleotides.
Different products such as a reagent, synthesized oligonucleotides, and equipment contributed to the oligonucleotide synthesis market size. The market has witnessed high demand synthesized oligonucleotides due to its escalating number of applications of in diagnostics, research, and therapeutics.
Insight by Product
On the basis of product, the market is subdivided into reagent, synthesized oligonucleotides, and equipment. Of all products, synthesized oligonucleotides segment accounted the largest share and is expected to grow at fastest rate in the market, due to its escalating number of applications of in diagnostics, research, and therapeutics, and mounting inclination of contract manufacturing of oligonucleotides.
On the basis of product, the synthesized oligonucleotides are further subdivided into primers, intermediate-scale synthesis oligonucleotides, probes, linkers & adaptors, and large-scale synthesis oligonucleotides. Among the all the primer segment accounted the largest share in the market, due to its uses in various applications such as genomics, DNA synthesis, and PCR. In addition, intermediate-scale synthesis oligonucleotides are expected to grow at the fastest rate in the market, due to mounting need for synthesized oligonucleotides and improvements in manufacturing techniques to create intermediate-scale oligonucleotides.
On the basis of the type, the synthesized oligonucleotides are further subdivided into custom oligonucleotides and pre-designed oligonucleotides. Among both, the custom oligonucleotides accounted the largest share and are expected to grow at fastest rate in the market, due to a mounting number of clinical and preclinical research studies in molecular biology and evolving therapeutic and diagnostic applications.
Insight by Application
On the basis of application, the market is subdivided into research, therapeutic and diagnostics. Among all applications, the diagnostics application is expected to grow at the fastest rate in the oligonucleotide synthesis market, due to speedy evolution in the field of molecular diagnostics. In addition, the research application accounted the largest share in the market.
The research segment is further subdivided into PCR, sequencing, qPCR, gene synthesis, and other research applications. In addition, the therapeutic segment is further subdivided into RNAi, DNA/antisense oligonucleotides, nucleic acid aptamers, and immunotherapy applications.
Insight by End User
The different end users of the market are academic research institutes, diagnostic laboratories, pharmaceutical and biotechnology companies, and other end users. Among all end users, the diagnostic laboratories are expected to grow at the fastest rate in the oligonucleotide synthesis market, due to escalating diagnostic applications of oligonucleotides and the budding field of molecular diagnostics.
Mounting usage of synthesized oligonucleotides in molecular diagnostics and clinical applications, the surge in venture capital investments, the mounting occurrence of cancer and infectious diseases, intensifying demand for synthesized oligonucleotides, and escalating government investments are the primary growth drivers for oligonucleotide synthesis market.
Mounting research and development expenditure in biotechnology and pharmaceutical companies, and escalating demand for innovative diagnostic and therapeutic technique is also facilitating the growth for the oligonucleotide synthesis market.
Price erosion of synthesized oligonucleotides, lack of a unified set of regulations for therapeutic oligonucleotides, large-scale synthesis of oligonucleotides, and delivery of oligonucleotide drugs to specific targets are the major challenges for the growth of oligonucleotide synthesis market.
Globally, the manufacturing companies trying to enter the oligonucleotide synthesis market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest oligonucleotide synthesis market as in the region the research and development expenditure in the pharmaceutical and biotechnology companies are mounting. In addition, the presence of major players and accessibility of public and private sector funds for research activities are also up surging growth of the North American oligonucleotide synthesis market.
Asia-Pacific is observed to witness the fastest growth in the market, due to the mounting accessibility of synthesized oligos. In addition, the mounting need for better healthcare outcome, the upsurge in R&D funding, improving healthcare infrastructure and activities and escalating government funding are also creating a positive impact on the oligonucleotide synthesis market growth in the region.
Key players in the oligonucleotide synthesis market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In October 2016, Nitto Denko Avecia Inc. acquired Irvine Pharmaceutical Services and Avrio Biopharmaceuticals, to expand its oligonucleotide drug business.
Merck KGaA, Agilent Technologies, LGC Biosearch Technologies, Eurofins Genomics, Eurogentec, GE Healthcare, Thermo Fisher Scientific, and Nitto Denko Avecia Inc. are the key players offering oligonucleotide synthesis.