The oligonucleotide synthesis market involves technologies like DNA/RNA probes, primers, linkers and adaptors, oligonucleotide drugs, and enzymes and reagents that have applications in areas such as therapeutics, diagnostics, and research. The increasing number of clinical trials of oligonucleotides, growing focus on precision medicine, and rising R&D investment in synthetic biology are driving the growth of this market.
The global oligonucleotide synthesis market is estimated to be valued at US$ 4565 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The opportunity for precision medicines is fueling the growth of the oligonucleotide synthesis market. Precision medicine is an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person. Oligonucleotides play a key role in developing precision therapies by enabling targeted delivery of drugs. The advancement of technologies like antisense oligonucleotides and mRNA therapies have increased their potential to treat various genetic diseases. As the adoption of precision medicine increases, the demand for oligonucleotides for developing personalized treatments is also expected to rise significantly. This growing focus on precision approaches for diseases is creating lucrative opportunities for players in the oligonucleotide synthesis market. Porter's Analysis Threat of new entrants: The threat of new entrants is moderate as significant capital requirement for R&D and clinical trials pose barriers for new companies. However, growing market opportunities attract new players. Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of several vendors providing oligonucleotide synthesis services. Bargaining power of suppliers: Suppliers have low bargaining power as raw materials used in oligonucleotide synthesis such as phosphoramidites are commodity chemicals supplied by many players. Threat of new substitutes: There is low threat from substitutes as oligonucleotides have few direct substitutes for research and therapeutics. Competitive rivalry: The competitive rivalry is high due to the presence of global established players providing oligonucleotide synthesis services. SWOT Analysis Strength: Growing R&D expenditure of biopharma companies and advancement in oligonucleotide therapeutics. Strong product pipeline for treatment of various diseases. Weakness: High infrastructure and manufacturing costs associated with oligonucleotide synthesis. Challenges in developing oligonucleotides for commercial use. Opportunity: Rising incidence of cancers, infections diseases to drive clinical research. Growing biotherapeutics industry to boost outsourcing of oligonucleotide synthesis. Threats: Stringent regulatory policies for approval of oligonucleotide therapeutics. Rising competition from alternative drug development approaches. Key Takeaways The global oligonucleotide synthesis market is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is estimated to be US$ 4565 Bn. Regional analysis: North America dominates the global oligonucleotide synthesis market currently due to increasing R&D expenditures by biopharmaceutical companies and academic research institutions in the region. The Asia Pacific region is anticipated to grow at the fastest pace during the forecast period owing to rising biomedical research capabilities and biomanufacturing investments in countries such as China and India. Key players operating in the oligonucleotide synthesis market are Forte Research Systems (India), ICON plc (Ireland), Merge healthcare incorporated (U.S.), Bio-Optronics (U.S.), DSG INC (U.S.), ArisGlobal (India), ERT Clinical Bioclinica (U.S.), Oracle Corporation (U.S.), Medidata Solutions (U.S.), DATATRAK International, Inc. (U.S.), and MedNet Solutions, Inc., (U.S.) among others. For more Insights, Read – https://www.dailyprbulletin.com/oligonucleotide-synthesis-market-market-size-share-analysis-growth/
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