Oligonucleotide Synthesis Market by Application, Offering, End User and Geography

The oligonucleotide synthesis market size is set to cross $2.7 billion by 2023, growing at a CAGR of 10.5% between 2017-2023. The oligonucleotide synthesis industry is driven by factors such as recent advances in oligonucleotide synthesis, increasing support from government organizations, increasing research activities in synthetic biology, and increasing burden of cancer and infectious diseases.

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In terms of application, the oligonucleotide synthesis market is categorized into research, diagnostic and therapeutic. Research has been the largest segment of the market, where it was estimated to contribute 65.2% to the market in 2016. Diagnostic segment is expected to contribute 21.0% revenue to the market in 2023.

Technological advancements have led to development of oligonucleotide synthesis products. The synthesis of oligonucleotides has gone under tremendous advancements, which leads to cost-effective and rapid synthesis of oligomers. Improvement in synthesis techniques such as development of high throughput synthesizers, new sets of protecting amino groups and better coupling reagents has revolutionized the chemistry for oligonucleotide synthesis. Moreover, development of microarray technology has supported the oligonucleotide therapeutic and diagnostic product development. Large number of conjugates with a biological and biological ligand have been researched, which led to advances in oligonucleotide synthesis. The advances in technology for microchip-based oligonucleotide synthesis offer the potential to increase throughput and decrease cost of oligonucleotide synthesis. Along with efficient nucleotide assembly method and enzymatic error correction, these technologies are bolstering the oligonucleotide synthesis market.

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Some of the key players in the oligonucleotide synthesis market include LGC Biosearch Technologies, Inc., Bioautomation Corporation, Integrated DNA Technologies, Inc., GeneDesign, Inc., Trilink Biotechnologies LLC, Merck KGaA, Eurofins Scientific SE, Thermo Fisher Scientific Inc., General Electric Company and Eurogentec S.A.

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