Overview:
Advancing technologies have substantially raised the hope for better treatment in the healthcare sector. One of the chief driving forces is biotechnology which is constantly updating itself and impacting the former sector. Of the many ensuing projects, oligonucleotide synthesis is an evolving technique that forms inexpensive, custom-made oligonucleotides with the desired sequence. Its importance lies in its contribution in DNA or RNA synthesizing and hybridization and in the synthesis of artificial genes.
The global oligonucleotide synthesis market Outlook is expecting an astonishing 10.3% CAGR during the forecast period, reveals Market Research Future (MRFR) in a broadly demonstrated report. The report further incorporates factors that are contributing much for the market growth which includes ventures and investments made by big pharmaceutical companies, contract manufacturing organization’s involvement in the market and global prevalence of chronic diseases spurring the demand for better medicines.
However, the cost can prove to be a great market deterrent. The oligonucleotide synthesis requires expert hands, and its research and development process can incur high expenditure which can impede the growth in the near future. But it has the potential to counter chronic diseases by developing suitable drugs which can create a favorable ambiance for the market.
Market Segmentation:
The global oligonucleotide synthesis market can be segmented by product type, application, and end-users.
Based on product type, the market can be segmented into synthesized oligonucleotides, reagents and equipment.
Application-wise segmentation of the market includes diagnostic, genetic testing, research, therapeutics, gene synthesis, library preparation, drug target screening, and others.
Based on end-users, the market comprises academic research institutes, diagnostic laboratories, and pharmaceutical & biotechnology companies.
Regional Analysis:
Region-specific segmentation of the market includes North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America has the largest market for oligonucleotide synthesis. The region invests in research and development substantially, and it has a superlative infrastructure in biotechnology sector which is triggering further market oligonucleotide manufacturers growth. In addition, the healthcare sector, with an eye searching constantly for new treatments for chronic diseases such as cancer and diabetes, is taking the market forward. Governments and private investors are also funding researches as they are equally eager to get positive results.
Europe is also fetching in substantial revenue as the region has almost similar kind of ambiance like North America for advanced researches. And its position has further been solidified by the presence of big league market players. The APAC region is showing lots of promises as emerging economies such as India and China are investing heavily in biotechnological researches and developments which is directly expanding the scope for oligonucleotide synthesis market growth. Governments in this region are also supporting the market considerably by approving funds.
Competitive Landscape:
Prominent players functioning in the oligonucleotide synthesis market, as described by MRFR, are GE Healthcare (U.S.), Integrated DNA Technologies, Inc (U.S), Eurogentec S.A (Belgium), Sigma-Aldrich Corporation (U.S.), Bioautomation Corporation (U.S.), Agilent Technologies Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Eurofins Genomics (Germany), L.G.C Biosearch Technologies (U.S.), Nitto Denko Avecia Inc. (Japan), and others.
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