The oligonucleotide synthesis market is expected to register a CAGR of 14.1% during the forecast period. The growth of the oligonucleotide synthesis market is due to the increasing government investments and R&D expenditure in pharmaceutical and biotechnology companies and the use of synthesized oligonucleotides in molecular diagnostics and clinical applications.
The usage of synthetic oligonucleotides has been increasing rapidly over the past decade, owing to several benefits offered by molecular diagnostics and growing clinical applications. The nucleic acid application techniques are the reference methods and are very useful for carrying out molecular diagnosis in several diseases, like for the detection of infectious diseases, such as hepatitis.
Synthetic oligonucleotides also have significant clinical applications, primarily for the detection of autoimmune antibodies. There have been consistent developments in synthetic biology over the past few years, where synthetic oligonucleotides were used to develop assays for the detection of anti-double stranded DNAs. Thus, all these factors are responsible for the growth of the oligonucleotide synthesis market.
In addition, there are also other major factors influencing the market for oligonucleotide synthesis. This includes the increasing advancement in the field of healthcare, increasing demand for innovation in the field of life science and medical academics, increasing investment by the government for the development of genomic technologies, and the increasing demand for oligonucleotide synthesis technologies by the public and private research firms.
Key Market Trends
Probes Segment is Expected to Grow in the Forecast Period
Oligonucleotide probes are short stretches of single-stranded DNA or RNA, primarily used to detect the presence of complementary nucleic acid sequences (target sequences) by hybridization.
They have wide applications in the life sciences industry. They are frequently used in the polymerization chain reaction (PCR) technique. In the real-time PCR technique, the DNA amount if increased can be observed and detected directly in real-time. This direct observation for quantification has raised new applications, particularly in diagnostics and validation, and is attained by using fluorescent dyes.
There are several types of probes, such as dual-labeled probes, double-quenched probes, fret probes, gene probes, etc. All of them have almost similar functions but are used for different applications.
North America is the Largest Growing Segment and is Expected to Follow the Same Trend Over the Forecast Period
North America dominates the market due to the presence of better health care infrastructure and increasing usage of oligonucleotides by pharmaceutical companies of the region. Furthermore, the strong foothold of North America in genomics, proteomics, oncology, diagnostic screening, and drug discovery has significantly contributed to maintaining its large share. In the north america region, the United States is leading the market and expected to continue the same over the forecasted period.
The companies are seen adopting various strategies adopted by the competitors that include the acquisition of players in emerging markets, distribution partnerships, and collaboration for the development of novel technologies. The companies operating in the oligonucleotide synthesis industry are also expanding and developing their product portfolio that helps to drive the overall market.
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