(PharmaNewsWire.Com, May 28, 2020 ) The rising demand for synthesized oligos in molecular diagnostics and therapeutics, increasing R&D expenditure by pharmaceutical and biotechnology companies, rising venture capital investments, and the increasing demand for synthetic genes are the major factors driving the growth of oligonucleotide synthesis market.
Therapeutic Application to Dominate the Global Oligonucleotide Synthesis Market:
Therapeutic Application:
1. DNA and Antisense Oligonucleotide-based Therapies 2. RNAi Oligonucleotide-based Therapies 3. CpG Oligonucleotide-based Therapies
The therapeutic applications segment, which is further segmented into RNAi oligonucleotide-based therapies, DNA and antisense oligonucleotide-based therapies, and CpG oligonucleotide-based therapies, is estimated to witness the highest growth during the forecast period. This can primarily be attributed to the investments made by companies to explore the therapeutic applications of oligos. Also, from 2016 to 2018, more than five oligonucleotide-based therapies were approved by the FDA.
In 2018, these oligonucleotide-based drugs generated a revenue of ~USD 2 billion. Apart from this, there are a couple of oligonucleotide-based drugs in Phase III and FDA review, and these drugs might be launched in the next five years and may positively impact this market.
The global oligonucleotide synthesis market is projected to reach USD 8.2 billion by 2024 from USD 4.3 billion in 2019, at a CAGR of 13.7%.
Recent Developments in Oligonucleotide Synthesis Market:
1. In Febuary 2019, Thermo Fisher Scientific entered into an agreement with BioNTech (Germany). Under the terms of this agreement, BioNTech's messenger RNA (mRNA) manufacturing platform will be supported by Thermo Fisher through the supply of nucleotides, enzymes, and other critical raw materials
2. In Febuary 2019, IDT expanded its courier zones of free next-day delivery service to scientists based in Cambridge, Oxford, and London. This service expansion will help IDT increase its customer base, and also enable projects to be started and finished sooner.
3. In March 2018, Danaher acquired IDT, whichenhanced Danaher’s Life Sciences platform and expanded its customer base.
The Objective of Research is as Follows:
1. To define, describe, and forecast the global oligonucleotide synthesis market on the basis of product, application, end user, and region.
2. To provide detailed information regarding the major factors influencing the growth of the market (drivers, opportunities and industry-specific challenges).
3. To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
4. To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for the market leaders.
5. To forecast the size of the market with respect to five regions: North America, Europe, Asia Pacific, and the Rest of the world.
The prominent players operating in this market include Agilent Technologies, Inc. (US), ATDBio Ltd. (UK), Bio-Synthesis, Inc. (US), BioAutomation Corporation (US), LGC Biosearch Technologies (US), Biogen International (US), Sarepta Therapeutics (US), Eurofins Genomics (Germany), Eurogentec (Belgium), GeneDesign, Inc. (Japan), GE Healthcare (US), GenScript, Inc. (US), Integrated DNA Technologies (IDT, US), Nitto Denko Avecia, Inc. (US), Sarepta Therapeutics (US), Thermo Fisher Scientific, Inc. (US), TriLink BioTechnologies (US), and Sigma-Aldrich Corporation (US) (a part of Merck KGAA).
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