Oligonucleotide Synthesis Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The Oligonucleotide Synthesis Market size was estimated to be US$ 7490.31 million in 2021 and US$ XX million in 2023 and is expected to reach US$ 42578.51 million by 2031; it is estimated to record a CAGR of 19.3% in till 2031. Increasing applications of synthesized oligonucleotides, increasing investments for synthetic biology and technological advancements genome editing tools are the key driving factors for the growth of the market in the forecast period. However, the growth of the market is restrained by factors such as renewed regulations for biotechnology and lack of skilled professionals in life science industry. In addition, treatment of wide range of medical conditions is likely to remain key Oligonucleotide Synthesis Market trends.

Oligonucleotide Synthesis Market Analysis

Oligonucleotides have many applications in research, diseases diagnosis, therapeutics, forensic, drug discovery, agriculture and many more. Oligonucleotides are used in many biological and forensic applications as sequence-specific binding agents can help in identifying presence of a specific target DNA sequence. Synthetic oligonucleotides are short stretches of single stranded DNA fragments assembled by chemical synthesis. There is hardly a field in biology in which synthetic DNA has not been used or does not have the potential to be used. The main reason for such a turnabout is the simultaneous developments of methods for the rapid and efficient synthesis of oligonucleotides and the advent of molecular biology techniques.

Oligonucleotide Synthesis Market Overview

Oligonucleotide synthesis refers to the synthesis of short fragments of nucleic acids using genetic engineering and enzyme chemistry. The technique is useful in existing laboratory practice as it provides a rapid and inexpensive access to custom-made oligonucleotides of the desired length and sequence. Oligonucleotides are used from initial research and screening through to target validation and drug production. Today, subsequent improvements in oligonucleotide synthesis, amplification and automation have completely revolutionized biological research.

The global oligonucleotide synthesis market is segmented by region into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In North America, the US is the largest market for oligonucleotide synthesis. The US oligonucleotide synthesis market is estimated to hold the largest market share during the forecast period in the North American market. The market of oligonucleotide synthesis in the United States is anticipated to witness significant growth during the forecast period, owing to factors such as rising investments in the development of pharmaceutical and biotechnology companies, funds from government bodies as well a rise in the number of market players and their focus in the oligonucleotide synthesis market. The increasing investments and rising funds dedicated to manufacturing companies as well as academic and research institutes for the development of gene synthesis-based end products such as precision medicine and other therapeutics is one of the major driving factors. According to an annual industry growth update published by SynBioBeta, a leading community of investors, entrepreneurs, and others, more than US$ 1 Bn was invested in synthetic biology by various companies in the US and worldwide. Additionally, according to a report by National Center for Biotechnology Information (NCBI), US government offers approximately US$ 220 million every year toward synthetic biology research and development.

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Oligonucleotide Synthesis Market: Strategic Insights

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Oligonucleotide Synthesis Market Drivers and Opportunities

Growing biotechnology industry and partnerships in the European market

Europe oligonucleotide synthesis market includes countries such as France, Germany, Italy, Spain, United Kingdom, and Rest of Europe. The region is expected to experience a steady growth rate from 2024 to 2031. The European oligonucleotide synthesis market is expected to witness significant growth during the forecast period, due to factors such as, growing biotechnology industry, partnerships and collaborations undertaken by the market players as well as increasing venture capital investments. In addition, the players operating in the UK oligonucleotide synthesis market have been obtaining funds in order to enhance their product offering. For instance, in March, 2019, UK based privately held biotech company, Procarta Biosystems received a fund of US$ 1.69 Mn (€1.5 m) from the Novo Holdings REPAIR Impact Fund in order to enable the development of novel therapies to combat antimicrobial resistance (AMR). The funding would be utilized to develop a pipeline of a new class of antibiotic precision medicines from Procarta’s exclusive oligonucleotide-based antimicrobial platform. The above-mentioned factors are expected to fuel the growth of oligonucleotide synthesis market in UK at a significant rate during the forecast period.

Treating Wide Range of Medical conditions  – An Opportunity of Oligonucleotide Synthesis Market

Oligonucleotides has tremendous potential for treating wide range of medical conditions. They enable the development of therapeutics as the malfunctioning genes can be targeted, manipulated, silenced and/or modulated. Ionis Pharmaceuticals has dedicated its existence to oligonucleotide therapeutic development, particularly antisense oligonucleotide (ASO) therapeutics

Such advancements in recent years is likely to generate attractive growth opportunities for the oligonucleotide synthesis market.   

Oligonucleotide Synthesis Market Report Segmentation Analysis

Key segments that contributed to the derivation of the oligonucleotide synthesis market analysis are product and application.

• The product segment of the oligonucleotide synthesis market is broadly segmented into synthesized oligonucleotides, reagents, and equipment. Companies such as Twist Bioscience, Thermo Fisher Scientific Inc., and Agilent Technologies among others are major players in the market for oligonucleotide synthesis. The synthesized oligonucleotides are the largest segment among the products in the oligonucleotide synthesis market in 2023 and are also anticipated to hold the largest market in the year 2031. In addition to diagnostic and therapeutic purpose, oligonucleotides are also used for designing DNA microchips that are used as a powerful bio-analytical tool and novel material in the field of nanotechnology. Owing to the benefits offered by synthesized oligonucleotides, the demand for the segment is expected to grow significantly during the forecast period.
• The oligonucleotide synthesis market is classified on the basis of application such as research, diagnostics and therapeutics. The market is dominated by research segment and is expected to surge significantly during the forecast period. The investments made by countries in R&D activities is expected to fuel the demand of oligonucleotide synthesis during the forecast period. For instance, in Canada, Looking ahead to 2018 and 2021, there was an increase in companies’ expected R&D spending. In 2023, the largest category of R&D spending was around $1 to $5 million.  In the field of research, oligonucleotides used for purposes such as, gene knockout, genotyping, and diagnosis typically need further purification after synthesis. Hence, the rise in research activities is expected to offer significant growth opportunities for the oligonucleotide synthesis market in the coming years.

Oligonucleotide Synthesis Market Share Analysis by Geography

The geographic scope of the Oligonucleotide Synthesis Market report is mainly segmented into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South America/South & Central America.

Asia Pacific includes countries such as India, China, Japan, Australia, South Korea, and Rest of Asia Pacific. The market for the oligonucleotide synthesis is expected to grow in these countries due to the growth of biotechnological industry in countries such as, Japan and China, prevalence of cancer as well as strategic developments made by the companies in the Asian market. The above-mentioned factors offer significant growth opportunities for oligonucleotide synthesis market during the forecast period. In addition, Chinese government is supporting more for the genetic studies and with the support of local players. The genetic studies in China is booming to the increasing demand for the genetic sequencing. Along with the local players the international players are also investing in the country. For instance, Illumina Inc, has grown its presence in the country and has expanded its headquarters to Shanghai. The company has also introduced its BaseSpace Sequence Hub in China. The extensive genome studies are being assisted with this extended instrument of the Illumina, Inc. the instrument enables to manage and analyze data using a curated set of analysis apps and it includes the cloud base genomics data storage solutions.

This need is likely to drive the Asia Pacific oligonucleotide synthesis market during the forecast period.     

Oligonucleotide Synthesis Market Regional Insights

The regional trends and factors influencing the Oligonucleotide Synthesis Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Oligonucleotide Synthesis Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Oligonucleotide Synthesis Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Oligonucleotide Synthesis Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Oligonucleotide Synthesis Market are:

1. Molecular Assemblies
2. Twist Bioscience
3. Evonetix
4. Nuclera Nucleics Ltd.
5. Camena Bio
6. DNA Script

Disclaimer: The companies listed above are not ranked in any particular order.

Oligonucleotide Synthesis Market News and Recent Developments

The Oligonucleotide Synthesis Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for oligonucleotide synthesis and strategies:

• In July 2022, at its Changzhou site, WuXi STA, a division of WuXi AppTec, unveiled a brand-new large-scale oligonucleotide and peptide manufacturing plant. With this new launch, it will be better able to address the rapidly expanding global demand for oligonucleotide and peptide therapies development and manufacture (Source: WuXi AppTec, Press Releases, 2022)   

Oligonucleotide Synthesis Market Report Coverage and Deliverables

The “Oligonucleotide Synthesis Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles