The global oligonucleotide synthesis market size was estimated at USD 3.68 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 13.21% from 2024 to 2030. The decreasing prices of sequencing have led to increasing demand for custom-made nucleotides for applications across genetic testing, research, forensics applications, and drug development. This has further boosted the demand for oligonucleotide synthesis. The COVID-19 pandemic has affected every market globally and there has been a surge in the demand for efficient treatment against COVID-19.

Oligonucleotide therapeutics hold immense potential for treating chronic conditions such as cardiovascular diseases, cancers, and retinal disorders. Emerging new applications of oligo sequences in multiple fields of biotechnology are expected to increase market growth. Demand for molecular diagnostics in precision care is an important emerging application field for oligonucleotide synthesis.

The introduction of advanced techniques such as CRISPR and high-throughput sequencing for gene expression analysis has simplified the genetic screening and modification of genomes. Such innovations are observed to influence the demand for oligonucleotide synthesis. Manufacturers invest in technology development to enable the production of long Oligonucleotides with higher precision and better yield to cater to the growing need for custom oligos.

Gather more insights about the market drivers, restrains and growth of the Global Oligonucleotide Synthesis Market

Product & Service Insights

The services segment dominated the market with the highest share of 37.35% in 2023 and is expected to witness the fastest growth during the forecast period. Certain factors, such as the growing use of molecular diagnostic tests and the higher adoption of oligonucleotide therapeutics, are expected to contribute to market growth. Moreover, key players are also broadening their offerings by entering new markets or acquiring service providers in different countries.

For instance, in November 2023, Twist Bioscience, a company specializing in synthetic biology and genomics, introduced Express Genes, a novel gene synthesis service with an expedited turnaround time of 5 to 7 business days. This service, conducted at the company's manufacturing facility in Wilsonville, Oregon, enables the swift production of genes.

The oligonucleotide segment is anticipated to grow at a significant CAGR during the forecast period. The increase in genomic studies, such as gene expression analysis and genetic testing, can be attributed to a substantial growth of the segment. In addition, introducing biochips (DNA chips) for parallel analysis of many clinical samples is anticipated to contribute considerably to the market’s revenue. With the growing usage of antisense oligonucleotides in clinical trials for conditions such as cancer, cardiac disorders, and ocular dysfunctions, the segment is anticipated to witness lucrative growth shortly.

Moreover, the growing awareness and understanding of genetic disorders contribute to the demand for oligonucleotides in diagnostics & potential therapeutic interventions. For instance, in August 2023, UC San Diego launched a Gene Therapy Initiative to develop innovative treatments for rare diseases, made possible by a USD 5 million donation from the Nancy and Geoffrey Stack Foundation.

Application Insights

The PCR primers segment held the largest market share in 2023. Primers are the most widely used oligonucleotide in PCR. They are part of sequences complementary to the 5’ end of the targeted sequence and are used for sequencing or amplification applications. The adoption of primers for gene sequencing experiments is increasing. Their use in fluorescent detection and target amplification has led to various primer designs with different probe- and primer-based detection chemistries. With technological advances, PCR has evolved, resulting in RT-PCR, qPCR, and digital PCR. PCR assays and panels are designed for detecting and measuring gene expression. The need for primers to suit the application of these enhanced systems for uses such as accurate quantification of gene expression is anticipated to fuel market growth.

The sequencing segment is anticipated to witness the highest CAGR during the forecast period. Sequencing applications are used to study various aspects of genomics and genetics. These applications involve the analysis of genetic material, such as DNA and RNA, to better understand the genetic makeup & function of organisms. Sequencing is crucial in identifying and tracking pathogens, particularly for emerging viruses and antibiotic-resistant bacteria. It necessitates rapid and accurate pathogen detection through oligonucleotide-based assays. Advancements in sequencing technologies and bioinformatics tools have also contributed to the growth of this market. In January 2023, QIAGEN acquired Verogen, specializing in NGS technologies, in a transaction worth USD 150 million. QIAGEN plans to integrate Verogen's technologies and talent into its existing operations.

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Regional Insights

North America dominated the global market with a revenue share of 40.15% in 2023. The large share is mainly attributed to many companies and research institutes creating high demand for oligonucleotides. For instance, in April 2021, DNAScript collaborated with Moderna along with a USD 5 million grant from the U.S. Defense Advanced Research Projects Agency. This collaboration was intended to develop a prototype for robust manufacturing of therapeutics and vaccines as part of the global nucleic acids on-demand program.

Key Companies & Market Share Insights

Some of the key players operating in the market include Merck KGaA, Thermo Fisher Scientific, Inc., and Agilent Technologies. These players focus on business strategies such as partnerships/collaborations, product launches, and expansion. Twist Bioscience, Biolegio, and LGC Biosearch Technologies are some of the emerging market participants in the oligonucleotide market. These players primarily focus on expansion and partnerships to strengthen their position in the market.

Key Oligonucleotide Synthesis Companies:

·         Thermo Fisher Scientific, Inc.

·         Merck KGaA

·         Danaher Corporation

·         Dharmacon Inc.

·         Agilent Technologies

·         Bio-synthesis

·         Kaneka Eurogentec S.A

·         LGC Biosearch Technologies

·         Biolegio

·         Twist Bioscience

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