Oligonucleotide Synthesis Market Worth 2.46 Billion USD by 2022
PUNE, India, February 6, 2018 /PRNewswire/ --
According to a new market research report "Oligonucleotide Synthesis Market by Product (Primer, Probe, Linker, Adaptor, Custom, Reagent, Equipment), Application (PCR, DNA, RNAi, Research, Therapeutic), End User (Academic, Pharmaceutical, Biotechnology) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 2.46 Billion by 2022 from USD 1.47 Billion in 2017 at a CAGR of 10.9%. This market is experiencing significant growth due to the increasing research activities in the pharma and biotech sectors and the rising demand for innovative diagnostic and therapeutic techniques.
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The increasing R&D expenditure by pharmaceutical and biotechnology companies, rising demand for synthesized oligonucleotides, rising venture capital investments, and increasing demand for synthetic genes are the key drivers for the global Oligonucleotide Synthesis Market. The increasing applications of oligonucleotides in nucleic acid array-based technologies, library preparations, next-generation sequencing (NGS) methods, genomics, nucleic acid-base detections, cell cultures, diagnostics, therapeutics, human identity testing, cloning, and genetic engineering and synthetic biology are also supporting market growth for oligonucleotide synthesis.
The primers segment is expected to dominate the market in 2017
The synthesized oligonucleotides market, by product, is segmented into primers, probes, large-scale synthesis oligos, intermediate-scale synthesis oligos, and linkers & adaptors. In 2017, primers segment is expected to account for the largest share of the Oligonucleotide Synthesis Market as it is used in various applications such as PCR, genomics, and DNA synthesis.
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Based on synthesized oligonucleotides by type, custom oligos segment is expected to dominate the market in 2017
Based on type, synthesized oligonucleotides market is segmented into custom oligos and pre-designed oligos. Custom oligos are expected to dominate the market in 2017. It is also expected to register the highest growth rate during the forecast period. The growth of this segment is attributed to factors such as the increasing number of clinical and preclinical research studies evolving applications in molecular biology and emerging therapeutic and diagnostic applications.
Based on application, the diagnostic segment is expected to register the highest CAGR during the forecast period
Based on application, the market is segmented into research, diagnostics, and therapeutics. The research segment is estimated to hold the largest share of the Oligonucleotide Synthesis Market in 2017. The diagnostics segment is expected to register the highest CAGR during the forecast period. The rapid growth in the field of molecular diagnostics is a key driver for this segment.
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North America to dominate the Oligonucleotide Synthesis Market
In 2017, North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to the increasing R&D expenditure in the pharmaceutical and biotechnology sector, availability of public and private sector funds for research activities, and presence of major market players in the US.
The Oligonucleotide Synthesis Market is fragmented, with the presence of several large as well as emerging players. Prominent players in the Oligonucleotide Synthesis Market include Integrated DNA Technologies (IDT) (US), Sigma-Aldrich Corporation (US) (part of Merck KGaA), Eurogentec (Belgium), Eurofins Genomics (Germany), Agilent Technologies (US), Thermo Fisher Scientific (US), BioAutomation (US), LGC Biosearch Technologies (US), GeneDesign (Japan), GE Healthcare (US), TriLink BioTechnologies (US), GenScript (China), Nitto Denko Avecia (US), ATDBio (UK), Bio-Synthesis (US), IBA GmbH (Germany), Gene Link (US), and AITbiotech Pte. (Singapore).
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