Oligonucleotide synthesis market is experiencing significant growth due to the increasing research activities in the pharma and biotech sectors and the rising demand for innovative diagnostic and therapeutic techniques.
This study involved four major activities to estimate the current size of the oligonucleotide synthesis market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
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Market Size Estimation:
Both top-down and bottom-up approaches were used to estimate and validate the total size of the oligonucleotide synthesis market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
1. The key players in the industry and market have been identified through extensive secondary research
2. The market generated by leading players has been determined through primary and secondary research
3. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
[230 Pages Report] The global oligonucleotide synthesis market is projected to reach USD 8.2 billion by 2024 from USD 4.3 billion in 2019, at a CAGR of 13.7%
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Recent Developments in Industry:
1. In Febuary 2019, Thermo Fisher Scientific entered into an agreement with BioNTech (Germany). Under the terms of this agreement, BioNTech’s messenger RNA (mRNA) manufacturing platform will be supported by Thermo Fisher through the supply of nucleotides, enzymes, and other critical raw materials
2. In Febuary 2019, IDT expanded its courier zones of free next-day delivery service to scientists based in Cambridge, Oxford, and London. This service expansion will help IDT increase its customer base, and also enable projects to be started and finished sooner.
3. In March 2018, Danaher acquired IDT, whichenhanced Danaher’s Life Sciences platform and expanded its customer base.
Key Questions Addressed in The Research Report:
# Where will all these developments take the industry in the mid-to-long term?
# What are the recent trends affecting the market?
# Will oligonucleotide-based drugs be next game changer in the market?
# Who are the key players in the market and how intense is the competition?
# What are the new application areas of oligonucleotide synthesis?
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Oligonucleotide Synthesis Market Dynamics: Growth Drivers
1. Attractive Opportunities in the Market
2. Increasing Use of Synthesized Oligos in Molecular Diagnostics
3. Clinical Applications
4. R&D Expenditure in Pharmaceutical and Biotechnology Companies
Geographic Growth Analysis:
Detailed analysis of market in European countries such as the UK, Germany, France, Italy, Spain, and others.
Detailed analysis of industry in Asia Pacific countries such as China, Japan, India, and others.
The North American and European markets for oligonucleotide synthesis are expected to witness a slower growth as compared to the market in APAC. Asian countries, specifically China, Singapore, and India, provide potential growth opportunities for the oligonucleotide synthesis equipment, reagents, and services markets due to the increasing R&D investments by various companies in Asian countries. Asia, with its large population and increasing need for affordable care, offers significant growth opportunities. Advantages such as low manufacturing costs and customs duties attract major pharma and biotech companies toward this region.
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