The nucleotides market is expected to grow at a CAGR of over 8% during the forecast period. Major factor driving the market studied is growing demand of nucleotides from pharmaceuticals. On the flip side, Hazardous nature of penoxsulam towards aquatic animals and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Growing demand of nucleotide with increasing application of biotechnology in agriculture Industry is forecasted to offer various opportunities for the growth of the market over the forecast period.
- Nucleotides from pharmaceutical application are expected to dominate the market studied over the forecast period.
- North America region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as United States and Canada.
Key Market Trends
Growing Demand of Nucleotides from Pharmaceuticals
- A nucleotide is an organic molecule that is the building block of DNA and RNA and also have functions related to cell signaling, metabolism, and enzyme reactions.
- A purine nucleoside made from nucleotides is used to treat relapsed or refractory acute lymphoblastic leukemia in patients aged from 1 to 21 years old.
- Nucleotide-based medicines use artificial DNA and RNA (nucleotides) to target cellular genetic information directly, shutting off genetic diseases at their source.
- The digital revolution and the availability of newer and improved biotechnological technologies is going to bring a revolutionary change in pharmaceutical sector.
- Hence, owing to the above-mentioned factors, the application of nucleotides from pharmaceutical is likely to dominate during the forecast period.
North America Region to Dominate the Market
- North America region is expected to dominate the market for nucleotide during the forecast period. The rising demand of nucleotide from pharmaceutical and growing application as food additives in countries like United States and Canada is expected to drive the demand for nucleotide in this region.
- The largest producers of nucleotide are located in North America region. Some of the leading companies in the production of nucleotide are Bioline, Jena Bioscience GmbH, Exoticbiosolutions, ThermoFisher Scientific Inc and STAR LAKE BIOSCIENCE among others.
- As people are becoming more health conscious and adopting a healthy lifestyle in the United States and Canada, the sale of a pharmaceutical drug including nucleotide is likely to increase.
- Growing chemotherapy treatment in North America and Europe due to advanced healthcare facilities which provide effective treatment options is likely to boost demand for nucleotides from chemotherapy treatment.
- Owing to the above-mentioned factors, the market for nucleotide in the North America region is projected to grow significantly during the study period.
The global nucleotides market is partially consolidated in nature with only few major players dominating the market. Some of the major companies are Bioline, Jena Bioscience GmbH, exoticbiosolutions, ThermoFisher Scientific Inc and STAR LAKE BIOSCIENCE among others
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