Valued
at $1.5 billion in 2017, the oligonucleotide synthesis market size is predicted to progress with a 10.8% CAGR
during the forecast period 2018–2023, ultimately generating $2.8 billion in
revenue by 2023. By definition, oligonucleotide synthesis is the artificial
creation of oligonucleotides, which are short DNA or RNA fragments.
Among all, the research category
led the market in 2017 and is expected to be the fastest growing (11.1% CAGR)
category. This pays credence to the finding that of all the end users of
synthetic oligonucleotides, including diagnostic laboratories, pharmaceutical
and biotechnology companies, academic research institutes, and others, academic
research institutes dominated the oligonucleotide synthesis market in 2017 with
40.4% revenue share. This further substantiates the fact that increasing
research activities in the field is one of the key growth drivers of the
market.
Hence, it is clear that the
increase in research and development in the synthetic biology field will
further the market advance.
On
the basis of offering, reagents and consumables, synthesized oligonucleotides,
and equipment are the three market categories. Among these, synthesized
oligonucleotides held the largest revenue share (76.3%) in 2017 and is also
predicted to grow the fastest during the forecast period, at an 11.1% CAGR. The
increase in contract manufacturing of DNAs and RNAs is expected to escalate the
demand for synthesized oligonucleotides. Similarly, when segmented by
application, the oligonucleotide synthesis market can be categorized into
diagnostics, research, and therapeutics.
 |
| To Learn more About this report@ http://bit.ly/2UrgrJx |
In
addition, several new products have come in the oligonucleotide synthesis
market, such as protecting amino groups, synthesizers with high throughput, and
coupling reagents. Similarly, the development of the microarray technology is
aiding the production of oligonucleotides for the diagnosis and treatment of
diseases. Along with making the nucleotide assembly method efficient and
correcting errors in synthesized enzymes, such developments are also helping in
the steady progress of the market.
Now,
the oligonucleotide R&D is itself being bolstered by growing government
support in the form of funding and other initiatives. The U.S. government
invested about $820 million in synthetic biology R&D between 2008 and 2014.
Similarly, as per SynbiCITE an England-based organization, the U.K government
invested over $400 million during 2009–2016 for establishing three training
centers and six research institutes dedicated to synthetic biology. Thus, with
favorable government attitude toward providing people with better levels of
healthcare, the oligonucleotide synthesis market is predicted to continue on
the path to prosperity.
