During the forecast period, the Oligonucleotide Synthesis Market is projected to record a steady revenue CAGR. Over the last few years, numerous governments around the world have invested significantly in synthetic biology and genomics projects, which has had a significant impact on the development of new technologies. Oligonucleotides play a crucial role in these technologies, and increased funding and development in these areas are projected to drive market revenue growth during the forecast period.
Oligonucleotides are short nucleic acid fragments that are produced through genetic engineering and enzyme chemistry. They are widely used in laboratories for therapeutic, diagnostic, academic, and industrial purposes. They are used for various purposes, from preliminary research and screening to target validation and drug production. The importance of synthetic oligonucleotides as therapeutic drugs for treating diseases has increased significantly in the last decade. The identification of more targets following the identification of the human genome, advancements in antisense oligonucleotides, and the development of double-stranded siRNA oligonucleotides are some of the primary factors driving revenue growth in the market. Therapeutic oligonucleotides can also aid in treating viral infections, respiratory illnesses, cancer, and rare disorders like Duchenne Muscular Dystrophy (DMD), cystic fibrosis, and thrombotic thrombocytopenic purpura. Many researchers have employed viral and non-viral vectors to deliver therapeutic genes or antisense compounds into cells or tissues. Despite the promising results of early gene therapy and antisense therapy-based clinical trials employing either viral or non-viral vectors, it remains challenging to find a single method that meets all of the conditions for ideal gene transfer and vector expression.
COVID-19 is a newly discovered coronavirus-induced infectious disease. COVID-19, which was unknown until the outbreak began in Wuhan (China) in December 2019, has progressed from a regional crisis to a global pandemic. The World Health Organization (WHO) has declared the COVID-19 outbreak a pandemic. Several established pharmaceutical and biopharmaceutical firms, as well as key players, have joined global research efforts by providing oligonucleotide products for developing test kits, treatments, and vaccines that target the novel coronavirus infection. However, sales of oligonucleotide-based drugs fell slightly in 2020 due to restrictions imposed during the COVID-19 pandemic.
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Key Players Operating in Oligonucleotide Synthesis Market
- Abbott Molecular
- PerkinElmer
- SciGene Corporation
- Roche NimbleGen
- CytoTest
- Danaher Corporation (U.S.)
- Thermo Fisher Scientific, Inc. (U.S.)
- Merck KGaA (Germany)
- LGC Limited (U.K.)
- Maravai Life Sciences (U.S.)
- Biogen Inc. (U.S.)
- Sarepta Therapeutics, Inc. (U.S.)
Driving Factor in Oligonucleotide Synthesis Market
Increased investments by governments in synthetic biology and genomics projects are the major driving factors in the Oligonucleotide Synthesis Market. Oligonucleotides are essential components of these technologies, and as funding and development in these areas increase, it is expected to drive the market revenue growth during the forecast period. Additionally, the growing importance of oligonucleotides as therapeutic drugs for disease treatment is also driving the market growth. The identification of more targets following the human genome, advances in antisense oligos, and the development of double-stranded siRNA oligos are some of the factors driving revenue growth in the market. Furthermore, the COVID-19 pandemic has also contributed to the market growth as oligo products are used in the development of test kits, treatments, and vaccines for COVID-19.
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Notable Innovations in Oligonucleotide Synthesis Market
- Antisense oligonucleotides as therapeutic agents for genetic diseases
- CRISPR-Cas9 technology and its applications in gene editing using oligonucleotides
- Single-stranded oligonucleotide-mediated gene repair and correction
- RNA interference (RNAi) for targeted gene silencing using small interfering RNA (siRNA) oligonucleotides
- Aptamers as alternative to antibodies in diagnostics and therapeutics
- Development of modified oligonucleotides for increased stability and efficacy
- Expansion of application in next-generation sequencing (NGS) technology
- Use of oligonucleotides in COVID-19 diagnostics and therapeutics
- Development of oligonucleotide-based vaccines
- Oligonucleotide microarray technology for high-throughput gene expression profiling
- Development of CRISPR-based diagnostics using oligonucleotide probes
- Development of oligonucleotide-based biosensors for real-time detection of biomolecules
- Use of oligonucleotides in targeted drug delivery
The global Oligonucleotide Synthesis Market has been segmented as follows:
Type Outlook (Revenue, USD Billion; 2019-2030)
- DNA
- RNA
- Drugs
- Reagents
- Others
Application/End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Pharmaceutical
- Biotechnology companies
- Diagnostic Laboratories
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of Middle East Africa
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