(PharmaNewsWire.Com, August 19, 2021 ) The global oligonucleotide synthesis market is projected to reach USD 14.1 billion by 2026 from USD 6.3 billion in 2021, at a CAGR of 17.6% during the forecast period. The major factors driving the growth of this market include the increasing use of synthesized oligos in therapeutic applications, increasing government funding, and the growing focus on personalized medicine.
Based on product, the oligonucleotide synthesis market is segmented into oligonucleotide-based drugs, synthesized oligonucleotides, reagents, and equipment. In 2020, the oligonucleotide-based drugs accounted for the largest segment of the oligonucleotide synthesis market. Some of the factors attributed to the large share of these therapeutics are - the increasing number of FDA-approved drugs and a rich clinical pipeline of oligonucleotide-based drugs.
Based on application, the oligonucleotide synthesis market is segmented into therapeutic applications, research applications, and diagnostic applications. In 2020, the therapeutic applications segment accounted for the fastest growing segment of the oligonucleotide synthesis market. The increasing applications of oligos as therapeutic agents (such as antisense oligos and siRNA) used in treating neurological, infectious, and rare genetic disorders are expected to drive market growth.
Based on therapeutic application, the oligonucleotide synthesis market is segmented into antisense oligonucleotide-based therapies siRNA oligonucleotide-based therapies, and CpG Oligonucleotide-based Therapies. In 2020, the antisense oligonucleotide-based therapies accounted for the largest segment of the oligonucleotide synthesis market. The majority of the currently available oligonucleotide-based drugs are based on antisense technology. Additionally, numerous antisense drug candidates are in clinical trials to treat cardiovascular, metabolic, endocrine, neurological, neuromuscular, inflammatory, and infectious diseases. As some of the antisense oligonucleotide drugs are in Phase 3 trials, a variety of antisense oligonucleotide therapies can be expected to be made available in the coming years. These factors are expected to drive market growth.
The oligonucleotide synthesis market in the Asia Pacific region is projected to register the highest growth during the forecast period. Factors such as growing R&D funding, rising product availability, lower outsourcing costs, increasing research activities, increasing applications of oligos in molecular diagnostics & therapeutics, and the rising awareness of oligonucleotides are expected to drive market growth.
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