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May 3, 2023
News Provided By Share This Article Reports And Data The global oligonucleotide synthesis market size was USD 7658.2 million in 2022 and is expected to reach USD 33967.59 million in 2032 NEW YORK, NY, UNITED STATES, May 3, 2023 / EINPresswire.com / -- During the forecast period, the global oligonucleotide synthesis market is projected to have a revenue CAGR of 18%, reaching a market size of USD 33.97 billion by 2032. The increasing need for oligonucleotide synthesis in various sectors such as research, diagnostics, and medicine is one of the major factors fueling market revenue growth. Oligonucleotide synthesis involves the production of short RNA or DNA strands that are widely used in gene editing, medication development, and gene therapy. The expanding focus on research and development in the life sciences industry, coupled with the rising incidence of genetic disorders and chronic diseases, is expected to drive market growth. In addition, the introduction of automated synthesizers and high-throughput systems is anticipated to propel market revenue growth. These systems have reduced the cost of oligonucleotide synthesis while improving and speeding up the process, leading to increased use of oligonucleotide synthesis in various applications. Another driver of market revenue growth is the expansion of custom oligonucleotide synthesis services that enable the design and creation of oligonucleotides tailored to research needs. Furthermore, the growing demand for personalized medication and increasing investment in the life sciences sector by governments and private entities are expected to fuel market growth. The development of personalized medicine that utilizes genomic and genetic data to create customized treatment plans is highly dependent on oligonucleotide synthesis. However, the high cost of equipment and reagents and the need for skilled operators and maintenance personnel are the major factors limiting the market's growth. Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.reportsanddata.com/download-free-sample/946 Segments Covered in the Report The global oligonucleotide synthesis market is expected to grow significantly in the forecast period from 2022 to 2032, as per a report by Reports and Data. The market size in 2022 was valued at USD 7658.2 million, and it is anticipated to reach USD 33967.59 million by 2032, with a CAGR of 18%. Oligonucleotide synthesis is used in various applications such as gene editing, medication development, and gene therapy. With the rising prevalence of genetic disorders and chronic diseases, there is a growing demand for oligonucleotide synthesis in the research, diagnostic, and medicine industries, which is driving the market's revenue growth. The report also highlights that the development of automated synthesizers and high-throughput systems is driving the growth of the oligonucleotide synthesis market. These developments have reduced the cost of the oligonucleotide synthesis process, improved the process, and increased its use in various applications. The expansion of bespoke oligonucleotide synthesis services is another factor driving market revenue growth. Custom oligonucleotide synthesis services are designed to create oligonucleotides for specific research needs, which is expected to raise demand for these services throughout the forecast period. Moreover, the report identifies the rising demand for personalized medication, along with growing investment in the life sciences industry, as key factors that are expected to drive market revenue growth. The development of personalized medicine relies heavily on oligonucleotide synthesis as it uses genomic and genetic data to create treatment programs specific to individual patients. This growing emphasis on customized treatment is expected to increase demand for oligonucleotide synthesis throughout the forecast period. However, the oligonucleotide synthesis market's high cost of equipment and reagents is preventing the use of these technologies in small and medium-sized research facilities, which is a major factor limiting revenue growth. Additionally, the report highlights the platforms' inability to be operated and maintained by skilled employees as a constraint that may also restrain market revenue growth. The report provides historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of market trends in each of the sub-segments from 2019 to 2032. The oligonucleotide synthesis market is segmented based on product type, application, and region, including DNA Oligonucleotides, RNA Oligonucleotides, Others, Research, Therapeutics, Diagnostics, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Access Full Report Description with Research Methodology and Table of Contents @ https://www.reportsanddata.com/report-detail/global-oligonucleotide-synthesis-market Strategic development: Thermo Fisher Scientific made headlines in 2021 with its acquisition of PPD, Inc., a prominent provider of clinical research and laboratory services, for a whopping $17.4 billion. This acquisition is expected to bolster Thermo Fisher's offerings in the life sciences market, including oligonucleotide synthesis products and services, and help the company maintain its position as a leading player in the industry. In 2020, Eurofins Genomics acquired GeneCust, an oligonucleotide synthesis company, in a bid to expand its capabilities in the oligonucleotide synthesis market. This strategic acquisition allowed Eurofins Genomics to broaden its range of custom oligonucleotide synthesis products and services, offering customers a wider selection of options. In the same year, IDT announced its partnership with Twist Bioscience Corporation to collaborate on developing a next-generation oligonucleotide synthesis platform. The partnership aimed to leverage Twist Bioscience's synthetic DNA expertise to develop a more efficient and cost-effective oligonucleotide synthesis process. Thermo Fisher Scientific also made waves in 2021 with the launch of its new oligonucleotide synthesis system, the Applied Biosystems Axiom Oligo Library Synthesis System. The high-throughput system allows researchers to accelerate their genomic research through custom oligonucleotide library synthesis. In 2020, Merck KGaA released a new oligonucleotide synthesis reagent, the MAS reagent, that improves the efficiency and cost-effectiveness of oligonucleotide synthesis. The reagent allows for high-yield synthesis of long and highly modified oligonucleotides, enabling researchers to synthesize more complex oligonucleotides. LGC Biosearch Technologies launched a new line of high-quality oligonucleotide synthesis reagents in 2020, including amidites, solid supports, and phosphoramidites. These reagents aim to enhance the efficiency and quality of oligonucleotide synthesis, allowing researchers to synthesize more complex and diverse oligonucleotides.Agilent Technologies, Inc. also made a splash in 2020 with the release of its SurePrint G3 Oligo Synthesis Platform, which offers a high-throughput synthesis of custom oligonucleotides. This platform aims to improve the efficiency and cost-effectiveness of oligonucleotide synthesis, enabling researchers to speed up their genomic research. Lastly, in 2020, GenScript launched its Ultra Gene Synthesis platform, a new oligonucleotide synthesis platform designed to offer a high-quality, cost-effective synthesis of long and complex oligonucleotides. The platform enables researchers to synthesize a wide range of diverse and complex oligonucleotides for various applications. Competitive Landscape: The global oligonucleotide synthesis market is fiercely competitive, with many companies vying for a significant share of the market revenue. Major players in the industry are employing various strategies to gain a competitive edge, including mergers and acquisitions, partnerships, collaborations, and new product launches. Thermo Fisher Scientific Inc., Merck KGaA, Eurofins Genomics, Agilent Technologies, Inc., LGC Biosearch Technologies, IDT (Integrated DNA Technologies), Biogen Inc., GE Healthcare, Danaher Corporation, Twist Bioscience Corporation, and GenScript are some of the major companies included in the global oligonucleotide synthesis market report. Thermo Fisher Scientific's acquisition of PPD, Inc. in 2021 is expected to boost its position in the life sciences market, including the oligonucleotide synthesis market. Eurofins Genomics' acquisition of GeneCust in 2020 has enabled it to offer a broader range of custom oligonucleotide synthesis products and services. In the same year, IDT partnered with Twist Bioscience Corporation to develop a more efficient and cost-effective oligonucleotide synthesis process. In addition to these strategic partnerships, several companies have also launched new oligonucleotide synthesis platforms and reagents to improve the efficiency, cost-effectiveness, and quality of oligonucleotide synthesis. These advancements in technology are expected to drive market growth in the coming years. Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/946 Browse More Reports:
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