JERSEY CITY, New Jersey, June 8, 2020
The increased prevalence of synthesized oligos used in molecular diagnostics and clinical applications as well as minimum sequencing cost, huge capital investments, public-private disbursements on Genomics are the factors for rise in market growth
JERSEY CITY, New Jersey, June 8, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Oligonucleotide Synthesis Market By Product (Synthesized Oligonucleotides, Equipment, Reagents), By End Use (Pharmaceutical and Biotechnology Companies, Diagnostic Laboratories, Hospitals, Academic and Research Institutes), By Applications (Research, Diagnostics, Therapeutics)". According to the report, Global Oligonucleotide Synthesis Market was valued at USD 1.71 billion in 2019 and is projected to reach USD 3.58 billion by 2027, growing at a CAGR of 10.45% from 2020 to 2027.
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Global Oligonucleotide Synthesis Market Overview
The increased prevalence of synthesized oligos used in molecular diagnostics and clinical applications is the factor for rise in market growth. Oligos are chemically synthesized, and are applied in many relevant areas of scientific research and development. These have become a point of focus in Molecular Biology and Biotechnology, due to the synthetic DNA and cell-made DNA having similar structural and chemical qualities. The antisense oligonucleotides are applied to reduce the stages of protein synthesis by suppressing Micro RNA translation. This method is foundation of many therapies which are undergoing clinical trials for a variety of cancer treatments. The role of favorable government initiatives for the funding, and increased Research and Development disbursements in Pharmaceutical and Biotechnology Companies are causing a surge in the market revenue. The U.S. government have informed the major companies to produce a set of best practices for customer and sequence screening prior to manufacture. Taken together, these protocols guarantee that synthetic DNA is used to advance research that is designed and intended for public benefit. Upcoming technological advancements in gene editing techniques are likely to become a game changer in oligo synthesis. Recent progress in designing programmed nucleases, such as zinc-finger nucleases (ZFNs), transcription activator-like effector nucleases (TALENs) and clustered regularly interspaced short palindromic repeat (CRISPR)–Cas-associated nucleases, has greatly accelerated the progress of gene editing from concept to clinical practice. The presence of a strong product range of oligonucleotide synthesis is also fueling the market growth. The oligonucleotides offer promising benefits for a wide range of medical assistances. In comparison with to small-molecular drugs as well as to large-molecule biopharmaceuticals, oligonucleotide pharmaceuticals are much more upfront to both design and develop. They allow for the development of therapeutics that affect protein targets that cannot be effectively treated by small-molecule or protein therapeutics. Other driving factors such as minimum sequencing cost, huge capital investments, public-private disbursements on Genomics are bound to increase the market revenue.
The restraints observed are the increased costs and investments in synthesized oligos. There is dearth of rules and regulations for safe use of synthesized oligos. The lack of increased wages of skilled employees and technicians, scarcity of skilled professional and expertise to handle the synthesized oligos. The challenges faced are the Antisense Oligonucleotide undergoing delayed supply chain. There are flaws in synthesis methods which sharply reduce the amount of available drug substance, analytical methods are not well developed. It is quite cumbersome to handle the oligos synthesized on a large scale, and the delivery of oligonucleotides to specific targets still remains a drawback. The major players in the market are 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).
Verified Market Research has segmented the Oligonucleotide Synthesis Market On the Basis of Product, End Use, Application and Geography.
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