The oligonucleotide synthesis market is projected to grow at a stellar CAGR of 11.3% in terms of value through the period of forecasting between 2020 and 2025.
The report attributes the tremendous growth of the market to healthy adoption in biological and forensic applications such as research, disease diagnosis, and therapeutics. Moreover, the recent outbreak of COVID-19 has created an unprecedented demand for effective diagnostic methodologies and this is, in turn, expected to expedite the growth of the market.
“Growing adoption of oligonucleotides in research purposes for selecting and determining DNA sequences, hybridization probes or affinity purification, gene construction, site-directed mutagenesis, and other diagnostic purposes will continue to impel revenue prospects of the oligonucleotide synthesis market,” says the Fact.MR report.
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Oligonucleotide Synthesis Market – Key Takeaways
Oligonucleotide Synthesis Market – Driving Factors
Oligonucleotide Synthesis Market – Constraints
Anticipated Market Impact by Coronavirus Outbreak
The unforeseen outbreak of COVID-19, which swiftly metamorphosed into a global pandemic has created an unprecedented demand for advanced detection methodologies. As the RT-PCR testing, the most popular method currently in use, consumes high time to detect the infection, the need for faster diagnosis is skyrocketing across the world. As pharmaceutical and healthcare providers focus on developing efficient and faster methods, the demand for oligonucleotide cocktails is witnessing a significant uptick. On this premise, BioSynthesis, a US-based biotech company, is developing oligonucleotide-based testing kits. Such innovations amid the pandemic are expected to catalyze the overall market growth.
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The key players operating in the oligonucleotide synthesis market include, but not limited to, Thermo Fisher Scientific Corporation, Integrated DNA Technologies, Inc., Sigma-Aldrich Corporation (a part of Merck KGaA), GE Healthcare, Kaneka Eurogentec S.A., TriLink Biotechnologies, LLC (Maravai Life Sciences), BioAutomation and ATDBio Ltd. Market players are leveraging the growing demand for state-of-the-art treatment facilities owing to the rising number of health issues and are focusing on launching advanced solutions.
More on the Report
The FACT.MR’s market research report provides in-depth insights into the oligonucleotide synthesis market. The market is scrutinized on the basis of product (Reagents & Consumables, Equipment and Synthesized Oligonucleotides), application (Research, Therapeutics, and Diagnostics), and end-use (Biotechnology & Pharmaceutical Companies, Research Institutes, and Diagnostic Laboratories) across five major regions. (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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