The global oligonucleotide synthesis market is growing significantly due to advancements in oligonucleotide synthesis technologies, and increasing research and development expenditure in the industry. Increasing usage of synthesized oligonucleotides for a range of applications, including life science research, clinical diagnostics, and cell cultures, and increasing focus for the development of personalized medicine are also supporting the growth of the market. Massive unexplored oligonucleotide synthesis market in emerging economies, such as India and China, are creating sufficient opportunities for the global oligonucleotide synthesis market to grow at a considerable rate during the projected years. In addition, most of the molecular biology techniques, such as polymerase chain reaction, DNA sequencing, and microarrays, require synthesized oligonucleotides; hence, propelling the demand for large scale production of oligonucleotides.
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Major players are focusing on the development of cost-effective methods for the synthesis of oligonucleotides such as use of recyclable and universal polymer support. However, synthesis of oligonucleotides in large scale is a major challenge in global oligonucleotide synthesis market. Usage of computer-aided instruments for automatic synthesis of oligonucleotide is trend in global oligonucleotide synthesis market.
The global oligonucleotide synthesis market is categorized as products type, applications, and end-users. Based on products type, the oligonucleotide synthesis market is categorized as equipment, reagents, and synthesized oligonucleotides. The synthesized oligonucleotide is estimated to grow at the fastest rate due to increasing usage of oligonucleotides in various applications.
Based on applications, the oligonucleotide synthesis market is categorized as research, therapeutics, and diagnostics. The research segment leads the global oligonucleotide synthesis market and diagnostics segment is expected to grow at the fastest rate in the forecasted period. Based on end-users, the oligonucleotide synthesis market can be categorized as clinical diagnostics, academic and research institutes, and biotechnology and pharmaceutical companies. Academic and research institutes lead the global oligonucleotide synthesis market.
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Some of the factors driving the growth of the global oligonucleotide synthesis market are advancement in oligonucleotide synthesis, such as use of universal and recyclable polymer platforms and innovation in high throughput oligonucleotide synthesizers, increasing usage in various applications, and increasing research and development activities in medicine and molecular biology. In addition, pharmaceutical and biotechnology companies are investing large capital for research and development of oligonucleotide-based therapeutic drugs; this in turn drives the global oligonucleotide synthesis market. On the other hand, high cost of synthesized oligonucleotides and stringent regulatory requirements for the approval of oligonucleotide-based therapeutics are some of the factors inhibiting the growth of the global oligonucleotide synthesis market to some extent.
Geographically, North America will be leading the global oligonucleotide synthesis market in the coming years due to high research and development activities, technological advancements, emerging applications of oligonucleotides, and presence of large number of lifesciences companies and academic and research institutes. Asia-Pacific is the fastest growing region in the global oligonucleotide synthesis market. The major reasons for the fastest growth in the region are increasing research and development expenditure in pharmaceutical and biotechnology industries and increasing demand for therapeutic drugs. Moreover, the oligonucleotide synthesis market is growing rapidly due to the government funding for research activities, increasing number of academic and research institutes in emerging economies, such as India and China, of Asia-Pacific region.
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