Oligonucleotide synthesis is the chemical synthesis of relatively small fragments of nucleic acids with a defined chemical structure (sequence). The technique is extremely useful in current laboratory practice as it provides a rapid and inexpensive access to custom-made oligonucleotides of the desired sequence. It is also useful for performing molecular diagnostics in many diseases, including the detection of infectious diseases, such as hepatitis, SARS-CoV2, as well as for the diagnosis of cancer.
Increased government support for synthetic biology and genome projects and stronger research is a major factor driving the growth of the oligonucleotide synthesis market. Furthermore, R&D spending in pharmaceutical and biotechnology companies to produce oligonucleotide products with enhanced therapeutic potential and fewer side effects is further fueling the market growth. Moreover, increasing applications of synthesized oligonucleotides in molecular diagnostics and clinical applications as well as increasing demand for high-end customized oligos and upgrades in purification of synthetic oligonucleotides are also fueling the growth of the oligonucleotide synthesis market. In contrast, the market for oligonucleotide synthesis may be hindered by the complexities associated with therapeutic oligos and the challenging delivery of oligonucleotide drugs to specific targets. However, growth opportunities in emerging economies and focus on personalized medicine are anticipated to create lucrative opportunities in the market.
The global oligonucleotide synthesis market is expected to be valued at US$5.7 billion in FY22, up from US$5.2 billion in 2021.
Oligonucleotide Synthesis Market - Driving Factors
• The focus on developing advanced diagnostic and therapeutics among biotechnology and pharmaceutical companies is expected to drive demand for oligonucleotide synthesis.
• High demand in the healthcare industry, where oligonucleotides are used to determine DNA sequences in gene reconstruction, will continue to drive the market on a profitable path.
Oligonucleotide Synthesis Market – Constraints
• Non-availability of resources and paucity of skilled manpower are likely to limit the growth of the market to an extent.
Impact of COVID-19 on the Oligonucleotide Synthesis Market
The coronavirus pandemic has ushered in an unprecedented time in human history. The coronavirus pandemic is the second deadliest pandemic to ever afflict humanity in the 20th century, before the Spanish Flu. As the number of infections continues to rise, healthcare providers are doing their best to stop its spread.
The global oligonucleotide synthesis market has received considerable impetus from the pandemic, as stakeholders are increasingly exploring new methods to diagnose and treat patients affected by COVID-19. Leading research and development is being conducted by leading vendor Biosynthesis. It has separated ready-to-use cocktail mixes such as SARS-CoV-2 N1 Oligo Mix, SARS-CoV-2 N2 Oligo Mix and Human RNase P (RP) Oligo Mix. Such success is creating a level of optimism among healthcare providers and encouraging them to keep up the anti-coronavirus fight.
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