The global oligonucleotide synthesis market is projected to grow significantly, with its size expected to reach USD 44.9 billion by 2033, up from USD 9.1 billion in 2023, reflecting a compound annual growth rate (CAGR) of 17.3% from 2024 to 2033. This growth can be attributed to several factors. Advancements in synthetic biology and the increasing adoption of oligonucleotides for therapeutic applications, such as mRNA vaccines and gene therapy, are major drivers. The market is also being propelled by the rising demand for personalized medicine and the development of novel therapeutic strategies targeting genetic disorders.
Challenges include the high cost of treatment and the lack of skilled professionals, particularly in developing regions. Despite these hurdles, significant investments in research and development, as well as government funding, are supporting market expansion. For instance, in 2023, QIAGEN acquired Verogen for USD 150 million to enhance its next-generation sequencing (NGS) capabilities. Additionally, the increasing number of clinical trials and the growing use of oligonucleotides in molecular diagnostics and clinical applications are expected to further drive market growth.
Recent developments include major expansions and collaborations within the industry. In 2023, GenScript Biotech Corporation expanded its oligonucleotide production facility in Jiangsu, China, while IDT inaugurated a new therapeutic manufacturing facility. These developments underscore the dynamic and rapidly evolving nature of the oligonucleotide synthesis market, which continues to innovate and adapt to emerging therapeutic needs.
Key Takeaways
- In 2023, the global oligonucleotide synthesis market was valued at USD 9.1 billion, with a projected CAGR of 17.3%.
- Oligonucleotide-based drugs accounted for 38.1% of the market in 2023, fueled by the demand for targeted therapies.
- Pharmaceutical and biotechnology companies represented 34.6% of the market’s revenue in 2023.
- Oligonucleotide therapies for cancer and neurological disorders are expected to drive growth, with a 42.2% market share.
- North America led the oligonucleotide synthesis market in 2023, holding a 40.2% revenue share.
- The Asia-Pacific region is the fastest-growing market, with significant investments from Japan and China.
- Leading market players include Thermo Fisher Scientific, Merck & Co., and GE Healthcare.
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Oligonucleotide Synthesis Market Key Segments
By Product
- Oligonucleotide-Based Drugs
- Synthesized Oligonucleotides
- Reagents
- Equipment
By End-User
- Hospitals
- Pharmaceutical & Biotechnology Companies
- Diagnostic Laboratories
- CROs and CMOs
- Academic Research Institutes
By Applications
- Therapeutic Applications
- Research Applications
- Diagnostic Applications
Key Regions
- North America (The US, Canada, Mexico)
- Western Europe (Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe)
- Eastern Europe (Russia, Poland, The Czech Republic, Greece, Rest of Eastern Europe)
- APAC (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC)
- Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, Rest of Latin America)
- Middle East & Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA)
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Key Players Analysis
Thermo Fisher Scientific is a major player in the oligonucleotide synthesis market, offering a comprehensive range of products and services. Their portfolio includes high-quality DNA and RNA phosphoramidites, which are essential for creating therapeutic oligonucleotides. These products undergo rigorous quality control to ensure minimal impurities, enhancing their suitability for clinical applications. Thermo Fisher also provides extensive customization and large-scale synthesis capabilities, supported by robust technical expertise and efficient delivery systems.
Merck & Co., also known as MSD outside the United States and Canada, has a significant presence in the oligonucleotide synthesis sector. The company focuses on developing innovative solutions for genetic research and therapeutic applications. Merck’s expertise in life sciences and biotechnology allows it to offer advanced synthesis platforms and high-quality oligonucleotides. Their products are widely used in research, diagnostics, and therapeutic developments, contributing to advancements in personalized medicine.
GE Healthcare Dharmacon Inc. is renowned for its specialized oligonucleotide synthesis services, particularly in RNA interference and CRISPR technologies. Dharmacon provides a variety of custom and catalog oligonucleotides, including siRNA, shRNA, and crRNA, which are crucial for gene editing and gene expression studies. Their products are designed to meet the needs of academic and industrial researchers, supporting advancements in genetic engineering and functional genomics.
Agilent Technologies is a leading provider of oligonucleotide synthesis solutions, offering high-throughput synthesis capabilities and a broad range of modified oligos. Their expertise in analytical instrumentation ensures the production of oligonucleotides with high purity and precise specifications. Agilent’s oligonucleotides are widely used in genomic research, molecular diagnostics, and therapeutic applications, enabling researchers to achieve reliable and reproducible results.
Bio-Synthesis Inc. specializes in custom oligonucleotide synthesis, providing tailored solutions to meet the specific needs of its clients. The company offers a wide array of oligonucleotides, including DNA, RNA, and various modified versions, which are essential for research and clinical applications. Bio-Synthesis focuses on delivering high-quality products with quick turnaround times, making it a trusted partner for researchers and biotechnologists looking for reliable and customizable oligonucleotide synthesis services.
Oligonucleotide Synthesis Market Key Players:
- In 2023, the global oligonucleotide synthesis market was valued at USD 9.1 billion, with a projected CAGR of 17.3%.
- Oligonucleotide-based drugs accounted for 38.1% of the market in 2023, fueled by the demand for targeted therapies.
- Pharmaceutical and biotechnology companies represented 34.6% of the market’s revenue in 2023.
- Oligonucleotide therapies for cancer and neurological disorders are expected to drive growth, with a 42.2% market share.
- North America led the oligonucleotide synthesis market in 2023, holding a 40.2% revenue share.
- The Asia-Pacific region is the fastest-growing market, with significant investments from Japan and China.
- Leading market players include Thermo Fisher Scientific, Merck & Co., and GE Healthcare.
Oligonucleotide Synthesis Market Report Scope >> Market Value (2023): USD 7.8 Billion || Forecast Revenue (2033): USD 36.3 Billion || CAGR (2024-2033): 17.1% || Base Year Estimation: 2023 || Historic Period: 2019-2022 || Forecast Period: 2024-2033.
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