Oligonucleotide
synthesis market is experiencing significant growth due to the increasing
research activities in the pharma and biotech sectors and the rising demand for
innovative diagnostic and therapeutic techniques.
This study involved four major activities to estimate the current size of the oligonucleotide
synthesis market. Exhaustive secondary research was carried out to collect
information on the market, its peer markets, and its parent market. The next
step was to validate these findings, assumptions, and sizing with industry
experts across the value chain through primary research. Both top-down and
bottom-up approaches were employed to estimate the complete market size.
Market Size Estimation:
Both
top-down and bottom-up approaches were used to estimate and validate the total
size of the oligonucleotide synthesis market. These methods were also used
extensively to estimate the size of various subsegments in the market. The
research methodology used to estimate the market size includes the following:
1. The key
players in the industry and market have been identified through extensive
secondary research
2. The
market generated by leading players has been determined through primary and
secondary research
3. All
percentage shares, splits, and breakdowns have been determined using secondary
sources and verified through primary sources.
[230
Pages Report] The global oligonucleotide synthesis market is projected to reach
USD 8.2 billion by 2024 from USD 4.3 billion in 2019, at a CAGR of 13.7%
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Recent Developments in Industry:
1. In
Febuary 2019, Thermo Fisher Scientific entered into an agreement with BioNTech
(Germany). Under the terms of this agreement, BioNTech's messenger RNA (mRNA)
manufacturing platform will be supported by Thermo Fisher through the supply of
nucleotides, enzymes, and other critical raw materials
2. In Febuary 2019, IDT expanded its courier zones of free next-day delivery
service to scientists based in Cambridge, Oxford, and London. This service
expansion will help IDT increase its customer base, and also enable projects to
be started and finished sooner.
3. In March 2018, Danaher acquired IDT, whichenhanced Danaher’s Life Sciences
platform and expanded its customer base.
Key Questions Addressed in The Research Report:
# Where will all these developments take the industry in the mid-to-long
term?
# What are the recent trends affecting the market?
# Will oligonucleotide-based drugs be next game changer in the market?
# Who are the key players in the market and how intense is the
competition?
# What are the new application areas of oligonucleotide synthesis?
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Oligonucleotide
Synthesis Market Dynamics: Growth Drivers
1.
Attractive Opportunities in the Market
2. Increasing Use of Synthesized Oligos in Molecular Diagnostics
3. Clinical Applications
4. R&D Expenditure in Pharmaceutical and Biotechnology Companies
Geographic Growth Analysis:
Detailed analysis of market in European countries such as the UK, Germany,
France, Italy, Spain, and others.
Detailed analysis of industry in Asia Pacific countries such as China, Japan,
India, and others.
The
North American and European markets for oligonucleotide synthesis are expected
to witness a slower growth as compared to the market in APAC. Asian countries,
specifically China, Singapore, and India, provide potential growth
opportunities for the oligonucleotide synthesis equipment, reagents, and
services markets due to the increasing R&D investments by various companies
in Asian countries. Asia, with its large population and increasing need for
affordable care, offers significant growth opportunities. Advantages such as
low manufacturing costs and customs duties attract major pharma and biotech
companies toward this region.
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