Global Oligonucleotide Synthesis Market: Snapshot
Entry of new players in the global oligonucleotide synthesis market has heated up competition. Players wanting to grow their market shares have mostly resorted to cutting down prices to draw more customers. This has also put a downward pressure on prices and subsequently many prominent vendors have been forced to strategically cut down certain service and product arms and focus on a niche sector.
Currently, Thermo Fisher Scientific holds a dominant position in the global oligonucleotide synthesis market because of its diverse product portfolio and strong outreach. Sigma-Aldrich Corporation comes in the second position in terms of market share.
The global oligonucleotides synthesis market has been on a sustained growth trajectory on account of the rapidly growing biotechnology and life sciences sectors, coupled with the increasing uptake of the increasing applications of oligonucleotides in research and diagnostic fields. Pharmaceutical and biotechnology companies and research and diagnostic laboratories involved in drug discovery and development, along with diagnostic devices and tests, for the treatment of chronic diseases and oligonucleotides are also serving to stoke growth in the market.
A report by Transparency Market Research forecasts the global oligonucleotide synthesis market to expand at a strong 11.2% CAGR from 2017 to 2025 to attain a value of US$4.189 bn by 2025 from US$1.65 bn in 2016.
Synthesized Oligonucleotides Lead Market on Account of Different Customizations Offered by Manufacturers
Depending upon the type of products, the global oligonucleotide synthesis market can be divided into reagents and consumables, equipment, and synthesized oligonucleotides. Among them, the synthesized oligonucleotides segment leads the market with a dominant share because of the increasing number of manufacturers offering various customizations and rising applications of ready to use synthesized oligonucleotides in therapeutics.
The two kinds of commercially used synthesized oligonucleotide are DNA oligonucleotides and RNA oligonucleotides. Locked Nucleic acid (LNA) and Bridged Nucleic Acid (BNA) are the other types of synthesized oligonucleotides that find application in research.
Presence of Numerous Small Companies Makes China Key Region in Asia Pacific
From a geographical perspective, the global oligonucleotide synthesis market is dominated by North America. It is expected to retain its leading share, albeit decreasing it slightly, to account for 33.3% of the market. Strongly supporting growth in the North America market is the growing number of pharmaceutical companies leveraging oligonucleotides in therapeutics, research and diagnostics. Increasing number of genetic diseases in the region and the resultant demand for researchers to develop newer and advanced drugs to treat them is also expected to drive the market in the region.
Europe is another key region in the global oligonucleotide synthesis market and by 2025, it is slated to account for 26.6% share in revenue in the market on the back of considerable thrust on developing newer and sophisticated technologies for building new molecules of oligonucleotides for therapeutic use. Start-up companies with new technologies and rich patent portfolios, are predicted to contribute to the market significantly.
In terms of growth rate, Asia Pacific will likely surpass all other regions by clocking a healthy 12.5% CAGR between 2017 and 2025. China is a major driver of growth in the region on account of being home to numerous of small companies providing reagents and consumables for oligonucleotide synthesis. Besides China, India and Japan are also major contributors to the market because of bettering health care infrastructure, increasing private and public investment in life sciences research, and diagnostics advancements in disease treatment.
Prominent participants in the global oligonucleotide synthesis market are Thermo Fisher Scientific, GE Healthcare, DNA Technologies, BioAutomation, Applied Biosystems, GeneDesign, Inc., Eurofins Genomics, Integrated Kaneka Eurogentec S.A., Sigma-Aldrich Corporation, and Agilent Technologies.
Global Oligonucleotide Synthesis Market: Overview
The oligonucleotide synthesis market is the highly growing market in developed and developing countries due to the fast growing life science industry, rising focus on genetics and genomics in the research and diagnostics applications, and rising application of oligonucleotides in therapeutics.
The market overview section of the report comprises qualitative analysis of the overall oligonucleotide synthesis market considering the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s five force analysis and market attractiveness analysis. In addition, market opportunity analysis for product for global as well as Asia Pacific has also been provided. The report also comprises applications of oligonucleotides, and PEST analysis.
Global Oligonucleotide Synthesis Market: Segmentation
The global oligonucleotide synthesis market has been segmented on the basis of product, application and end user. The product segment is further segmented as, reagents & consumables, equipment, and synthesized oligonucleotide. The synthesized oligonucleotide segment is further segmented as, DNA oligonucleotides, RNA oligonucleotides, and others. Synthesized oligonucleotide segment accounted major share in 2016 of oligonucleotide synthesis market and expected to register high CAGR over forecast period.
By application, the global oligonucleotide synthesis market is segmented as, research, therapeutics, and diagnostics. The research accounted major share in 2016 of oligonucleotide synthesis market. The segment is further segmented as, Polymerase Chain Reaction (PCR), Next Generation Sequencing (NSG), and others. The therapeutic segment is fast growing segment by application over the forecast period owing to rising application of oligonucleotides in therapeutics. The segment is further segmented as antisense oligonucleotides, and nucleic acid aptamers. In market only few drugs are approved for therapeutic purpose and more than 100 are in various stages of clinical trials.
On the basis of end user, the global oligonucleotide synthesis market is segmented as biotechnology & pharmaceutical companies, research institutes, and diagnostic laboratories. Research institutes segment accounted major share in 2016 by end user in global oligonucleotide synthesis market. The biotechnology and pharmaceutical companies segment is expected to register high CAGR over forecast period. Increasing research and development activities, and rising demand for new drug development for rare and genetic disease is expected to drive growth of biotechnology and pharmaceutical companies segment over the forecast period. Moreover, rising application of oligonucleotides in diagnostics is expected to drive the growth of diagnostics segment over the forecast period.
The market for these product, application and end user has been extensively analyzed on the basis of factors such as usage pattern, sales revenue, and geographic presence of major market players and their product developments. The market size and forecast in terms of revenue (US$ million), for each of these segments, and the sub-segments have been provided for the period 2015 to 2025, considering 2016 as the base year. The report also provides the compounded annual growth rate (CAGR) for each segment for the forecast period 2017 to 2025.
Geographically, the oligonucleotide synthesis market has been classified into five segments namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market size forecast for each region has been provided for the period 2015 to 2025, in terms of product, application and end user, along with the CAGR (%) for the forecast period 2017 to 2025.
Global Oligonucleotide Synthesis Market: Competitive Analysis
The report also provides a section on the competitive landscape, wherein the market share analysis of leading players in the global oligonucleotide synthesis market, in terms of percentage share in 2016 has been provided. The report concludes with the profiles of major players in the global oligonucleotide synthesis market such as Thermo Fisher Scientific, Sigma-Aldrich Corporation (a part of Merck KGaA), Integrated DNA Technologies, GE Healthcare, Kaneka Eurogentec S.A., Agilent Technologies, Applied Biosystems, BioAutomation, Eurofins Genomics, Gene Design, Inc. among others. The major market players are evaluated on various parameters such as company overview, financial overview, product portfolio, business strategies and recent developments.
The global Oligonucleotide Synthesis market is segmented as given below:
Oligonucleotide Synthesis Market, by Product Type
- Reagents & Consumables
- Synthesized oligonucleotides
- DNA oligonucleotides
- RNA oligonucleotides
Oligonucleotide Synthesis Market, by Application
- Polymerase Chain Reaction
- Next Generation Sequencing
- Antisense Oligonucleotides
- Nucleic Acid Aptamers
Oligonucleotide Synthesis Market, by End-users
- Biotechnology & Pharmaceutical Companies
- Research Institutes
- Diagnostic Laboratories
Global Oligonucleotide Synthesis Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa