Oligonucleotide Synthesis Market to Reach $26.09 Bn, Globally, by 2030 at 17.1% CAGR
The "Oligonucleotide Synthesis Market by Product (Oligonucleotide-Based Drugs, Synthesized Oligonucleotides, Reagents, and Equipment), Application (Therapeutic Applications, Research Applications, and Diagnostic Applications) and End User (Hospitals, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, CROs and CMOs, Academic Research Institutes): Global Opportunity Analysis and Industry Forecast,... moreOligonucleotide Synthesis Market to Reach $26.09 Bn, Globally, by 2030 at 17.1% CAGR
The "Oligonucleotide Synthesis Market by Product (Oligonucleotide-Based Drugs, Synthesized Oligonucleotides, Reagents, and Equipment), Application (Therapeutic Applications, Research Applications, and Diagnostic Applications) and End User (Hospitals, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, CROs and CMOs, Academic Research Institutes): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global oligonucleotide synthesis industry was pegged at $5.19 billion in 2020, and is expected to reach $26.09 billion by 2030, growing at a CAGR of 17.1% from 2021 to 2030.
Read More: https://www.alliedmarketresearch.com/oligonucleotide-synthesis-market-A08356
Major determinants of the market growth
Rise in government investments and R&D expenditure in pharmaceutical & biotechnology companies, increase in use of synthesized oligonucleotides in molecular diagnostics and clinical applications, and surge in demand for high end customized oligos and upgradation in purification drive the growth of the global oligonucleotide synthesis market. However, challenging delivery of oligonucleotide drugs to specific targets and complexities associated with therapeutic oligos hinder the market growth. On the contrary, rise in focus on personalized medicines and potential in the developing economies are expected to open lucrative opportunities for the market players in the coming years.
North America held the lion's share
By region, the global oligonucleotide synthesis market across North America held the largest share in 2020, accounting for more than one-third of the market. This is due to rise in R&D in life sciences, surge in focus on improving the safety & quality of healthcare, increase in demand for high-quality research tools for data reproducibility, and surge in focus on developing personalized therapeutics. However, the market across Asia-Pacific is expected to register the highest CAGR of 18.8% during the forecast period, owing to expanding healthcare infrastructure, surge in government support and investment, and economic development in the region.
Major market players
Alnylam Pharmaceuticals, Inc.
Danaher Corporation
Biogen Inc.
Ionis Pharmaceuticals, Inc.
Eurofins Scientific
LGC Limited
Kaneka Corporation
Sarepta Therapeutics, Inc.
Merck KGAA
Thermo Fisher Scientific, Inc.
Key Findings of the Study
Based on product, the oligonucleotide-based drugs held the largest share in the global market in 2020.
On the basis of application, the therapeutic application held the largest market share in 2020, and is expected to remain dominant throughout the forecast period.
By end user, the hospitals segment held the largest market share in 2020, and is expected to remain dominant throughout the forecast period.
Based on region, North America is expected to experience growth at the highest rate, registering a CAGR of 16.00% during the forecast period.
About Us -
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various research data tables and confirms utmost accuracy in our market forecasting. Each and every us companies and this helps us in digging out market data that helps us generate accurate y data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
