Oligonucleotide Synthesis Market to Register a CAGR of 12.3% During the Forecast Period – Exclusive Report by Mordor Intelligence
Oligonucleotide Synthesis Market Overview
The growth of the oligonucleotide synthesis market is due to the increasing government investments and R&D expenditure in pharmaceutical and biotechnology companies and the use of synthesized oligonucleotides in molecular diagnostics and clinical applications. The usage of synthetic oligonucleotides has been increasing rapidly over the past decade, owing to several benefits offered by molecular diagnostics and growing clinical applications.
Synthetic oligonucleotides also have significant clinical applications, primarily for the detection of autoimmune antibodies. There have been consistent developments in synthetic biology over the past few years, where synthetic oligonucleotides were used to develop assays for the detection of anti-double-stranded DNAs. Thus, all these factors are responsible for the growth of the oligonucleotide synthesis market.
Oligonucleotide Synthesis Market – Geographical Overview
North America accounted for the largest share in the oligonucleotide synthesis market
North America dominates the market due to the presence of better healthcare infrastructure and the increasing usage of oligonucleotides by pharmaceutical companies in the region. Furthermore, the strong foothold of North America in genomics, proteomics, oncology, diagnostic screening, and drug discovery has significantly contributed to maintaining its large share. In the region, the United States is leading the market and is expected to continue the same over the forecast period.
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Key Highlights of the Oligonucleotide Synthesis Market
- The major factors enabling the market growth are –
- Increasing advancement in the field of healthcare
- Rising demand for innovation in the field of life science and medical academics
- Growing investments by the government for the development of genomic technologies
- Increasing demand for oligonucleotide synthesis technologies by the public and private research firms
- The probes segment is expected to grow during the forecast period.
- The companies in the market are seen adopting various strategies such as the acquisition of players in the emerging markets, expanding and developing their product portfolios, distribution partnerships, and collaboration for the development of novel technologies.
List of Key Players in the Oligonucleotide Synthesis Market
- Agilent Technologies
- Thermo Fisher Scientific
- Merck KGaA
- Danaher Corporation
- Bio-Synthesis Inc.
- Eurofins Scientific
- Kaneka Corporation (Eurogentec)
- LGC Limited (LGC Biosearch Technologies)
*List Not Exhaustive
Mordor Intelligence has segmented the global oligonucleotide synthesis market on the basis of the Product Type, Application, End-user, and Geography:
- Product Type (Market Size & Forecast (2018-2026) in USD billion)
- Synthesized Oligonucleotide Products
- Application Type (Market Size & Forecast (2018-2026) in USD billion)
- End-user Type (Market Size & Forecast (2018-2026) in USD billion)
- Academic Research Institutes
- Pharmaceutical and Biotechnology Companies
- Hospital and Diagnostic Laboratories
- Geography (Market Size & Forecast (2018-2026) in USD billion)
- North America
- United States
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
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