ALBANY, New York, December 7, 2018 /PRNewswire/ --
A report on the global oligonucleotide synthesis market by Transparency Market Research (TMR) projects that this market would accumulate revenues worth US$4.189 bn by 2025, rising up from a value of US$1.65 bn in 2016. Furthermore, the report also finds that the global oligonucleotide synthesis market would expand at a robust CAGR of 11.2% over the period between 2017 and 2025. On the basis of application, oligonucleotide synthesis is widely used for conducting research and chemical experiments. Based on geography, the demand for oligonucleotide synthesis has been the highest across North America.
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Advancements in Biotechnology to Expand Market
Research, development, and analysis have been the catchphrases of the global biotechnology industry over the past decade. The need to study chain reactions of various orders and their successive applications across multiple industries has given an impetus to the growth of the global market for oligonucleotide synthesis in recent times. Furthermore, the popularity of next-generation sequencing has also played a pivotal role in fetching a large consumer base for the global oligonucleotide synthesis market.
It is expected that the study of DNA types and other aspects related to genetics would also gather momentum in the years to come. This trend is foreseen to further enhance the growth prospects of the global market for oligonucleotide synthesis in the years to come. Moreover, the global pharmaceutical industry has been expanding at a stellar rate over the past decade. As oligonucleotide synthesis is an indispensable part of research within the pharmaceutical industry, expansion of the latter is expected to reek of growth within the global market.
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Underdeveloped Research Sector to Hamper Growth
Despite the tremendous utility of oligonucleotide synthesis across multiple arenas within medical sciences and biological research, several factors still limit the growth of the global oligonucleotide synthesis market. Primarily, the unavailability of state of the art research facilities across emerging economies could act as a major roadblock to the growth of this market. Moreover, paucity of funds allotted towards biological research is another con from the perspective of growth within the global oligonucleotide synthesis market. However, the efforts of the medical fraternity to optimise the available resources for research shall continue to enhance market growth.
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The demand within the global market for oligonucleotide synthesis has been rising on account of advancements in the field of biological research and analysis, finds Transparency Market Research (TMR). The contemporary scenario has been an era of commendable growth in the fields of biotechnology, pharmaceuticals, and medical research. Indentifying this wave of advancements in areas related to biological research, a number of new players have pervaded the global market for oligonucleotide synthesis in recent times. It is expected that the unregulated entry of market vendors into the global oligonucleotide synthesis market would create a highly fragmented competitive landscape therein. Furthermore, the entry of newbie vendors in the global oligonucleotide synthesis market is expected to invite a strong response from the leading vendors.
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The established players in the global market for oligonucleotide synthesis have earned their rapport through a series of positive interventions in this market. These market players have resorted to pensive research, innovative marketing hacks, and strategic business development moves to fetch a large consumer base. However, the gradual growth of the new vendors in the global oligonucleotide synthesis market could pose a threat to the position of the established players. Some of the key players in the global market for oligonucleotide synthesis are GE Healthcare, Thermo Fisher Scientific, DNA Technologies, Applied Biosystems, and BioAutomation.
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The review is based on TMR's report titled "Oligonucleotide Synthesis Market (Product - Reagents & Consumables, Equipment, and Synthesized Oligonucleotides (DNA Oligonucleotides and RNA Oligonucleotides); Application - Research (Polymerase Chain Reaction and Next Generation Sequencing), Therapeutics (Antisense Oligonucleotides, and Nucleic Acid Aptamers), and Diagnostics; End User - Biotechnology & Pharmaceutical Companies, Research Institutes, and Diagnostic Laboratories) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025".
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