The global oligonucleotide synthesis market is projected to reach USD 19.7 billion by 2029 from USD 8.8 billion in 2024, at a CAGR of 17.5% during the forecast period. The increased demand for oligonucleotide-based drugs like ASOs and siRNAs to treat various neurological and rare disorders such as Duchenne muscular dystrophy (DMD), spinal muscular atrophy (SMA), and hepatic veno-occlusive disease (VOD) drives market growth.

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By product, synthesized oligonucleotides held the second-largest share of the oligonucleotide synthesis market in 2023. The demand for synthesized oligos is increasing due to growing applications of oligonucleotides in various therapeutic, research, and diagnostic applications. Oligo-based drugs is a growing market. Moreover, oligonucleotides are used as probes and primers in PCR and qPCR reactions, DNA sequencing, next-generation sequencing (NGS), fluorescent in situ hybridization (FISH), development of nucleic acid-based microarrays for pathogen detection and screening, genetic disorder identification, the study of DNA protein interactions, gene expression, gene cloning, library construction, and mutation analysis.

Based on applications, the oligonucleotide synthesis market is segmented into therapeutic, research, and diagnostic applications. In 2023, the therapeutic applications segment accounted for the fastest-growing segment of the oligonucleotide synthesis market. The increasing applications of oligos as therapeutic agents (such as antisense oligos and siRNA) used in treating neurological and rare disorders are expected to drive market growth. Ongoing research to expand this therapeutic potential of oligo-based drugs to common diseases such as cardiovascular disorders will further boost the oligonucleotide therapeutic market.

By end user, the pharmaceutical & biotechnology companies accounted for the second-largest share of the oligonucleotide synthesis market in 2023. The use of oligonucleotide synthesis products in drug discovery & development and biotech research is attributed to the market growth. Also, pharmaceutical & biotechnology companies are investing in research activities to develop nucleic-based therapies to combat new diseases such as cardiovascular disorders.

The oligonucleotide synthesis market is divided into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa. North America, comprising the US and Canada, is the largest regional segment in the oligonucleotide synthesis market. The large share of the North American market is due to substantial government funding for research and development of oligonucleotide-based therapies, the presence of major players in this market segment, and growing awareness about alternative medicines among the population.

Europe held the second-largest share of the market globally. Growth in the European market can be attributed to factors such as the presence of a large number of academic and research institutes in the region, such as Harvard, growing investments by key market players, and increasing focus on R&D activities.

Key players in the market include Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Eurofins Scientific (Luxembourg), LGC Limited (UK), Agilent Technologies, Inc. (US), Kaneka Corporation (Japan), Maravai Lifesciences Holdings, Inc. (US), Azenta, Inc. (US), Twist Bioscience Corporation (US) and Genscript Biotech Corporation (US). Prominent players in the oligonucleotide-based drugs (therapeutic applications) market are Biogen Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), Astrazeneca (UK), Astellas Pharma Inc. (Japan), Jazz Pharmaceuticals Plc (Ireland), Nippon Shinyaku, Co. Ltd. (Japan), Ionis Pharmaceuticals, Inc. (US) and Novartis AG (Switzerland).

Recent Developments of Oligonucleotide Synthesis Industry:

In November 2023, LCG Biosearch Technologies, a business unit of LGC Limited, acquired PolyDesign to enhance its oligonucleotide synthesis capabilities using PolyDesign’s frit technology.

In October 2023, Integrated DNA Technologies (IDT), a subsidiary of Danaher Corporation, opened its therapeutic oligonucleotide manufacturing facility in Coralville, Iowa. This facility will produce reagents for cGMP cell & gene therapy, including single-guide RNAs and HDR donor oligos.

The global oligonucleotide synthesis market is experiencing explosive growth, projected to surge from $8.8 billion in 2024 to a staggering $19.7 billion by 2029 at a compound annual growth rate of 17.5%. This meteoric rise is fueled by several key drivers.

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Driving Forces Behind the Market’s Ascent

• Escalating use of synthesized oligonucleotides in therapeutic and diagnostic applications, harnessing their potential to tackle a diverse array of neurological disorders, rare diseases, and gene therapy.
• Continuous technological advancements, such as next-generation sequencing (NGS) and the revolutionary CRISPR gene-editing tool, which are catalyzing demand for oligonucleotide synthesis.
• Burgeoning investments from governments and major industry players in life science research and synthetic biology, paving the way for groundbreaking discoveries.
• A crescendoing focus on precision and personalized medicine, underscoring the indispensable role of oligonucleotides in tailoring treatments to individual genetic profiles.

Opportunities on the Horizon

Emerging economies, such as China, India, Japan, Brazil, and Argentina, present fertile ground for market growth, attracting substantial investments from leading companies seeking to expand their footprint in these regions. For instance, in 2023, Merck KGaA, a German biotechnology giant, invested $76 million to bolster production capabilities for high-purity reagents in Nantong, China.

Challenges and Complexities

While the market’s prospects are bright, challenges persist. Achieving precise control over oligonucleotide length while minimizing impurities poses a significant hurdle. Additionally, the generation of harmful waste during synthesis is an environmental concern that demands innovative solutions. Furthermore, the efficient delivery of oligonucleotide drugs to specific targets remains a formidable obstacle, with researchers actively exploring novel strategies, such as positively charged cell-penetrating peptides, to enhance drug bioavailability.

Key Players Shaping the Landscape

Major players in the oligonucleotide synthesis market include Danaher Corporation, Thermo Fisher Scientific Inc., Merck KGaA, Eurofins Scientific, LGC Limited, Agilent Technologies, Inc., Kaneka Corporation, Maravai Lifesciences Holdings, Inc., Azenta, Inc., Twist Bioscience Corporation, and Genscript Biotech Corporation. In the therapeutic applications segment, prominent companies include Biogen Inc., Alnylam Pharmaceuticals, Inc., Sarepta Therapeutics, Inc., Astrazeneca, Astellas Pharma Inc., Jazz Pharmaceuticals Plc, Nippon Shinyaku, Co. Ltd., Ionis Pharmaceuticals, Inc., and Novartis AG.

As the oligonucleotide synthesis market continues its upward trajectory, fueled by scientific breakthroughs and a growing recognition of its transformative potential, it stands poised to reshape the landscape of therapeutics, diagnostics, and personalized medicine.

DANAHER CORPORATION (US)

Danaher is one of the key players in the oligonucleotide synthesis market. The company through its two major subsidiary Integrated DNA Technologies (IDT) and Cytiva offers various products such as predesigned and custom oligonucelotide probes, primers, as well as therapeutic oligonucleotides such as ASOs, apart from this the company provides reagents, consumables and equipments such as synthesizers for oligonucelotide synthesis. Geographically, the company operates in more than 50 countries across North America, Asia Pacific, Europe, the Middle East, and Africa. IDT and Cytiva uses organic strategies such as expansions and partnerships as their key growth strategies. In 2023, Integrated DNA Technologies (IDT) opened its therapeutic oligonucleotide manufacturing facility in Coralville, Iowa. This facility will produce reagents for cGMP cell & gene therapy, including single-guide RNAs and HDR donor oligos. In 2022, Cytiva partnered with General Biol (Anhui) Co., Ltd. a company from China to provide an integrated FlexFactory platform featuring the OligoProcess nucleic acid synthesis system, ÄKTAprocess purification system, Uniflux tangential flow filtration system, and other advanced technologies. This setup will allow General Biol (Anhui) Co., Ltd. to expand its oligonucleotide CDMO business.

THERMO FISHER SCIENTIFIC, INC. (US)

Thermo Fisher Scientific (US) held the second-largest share in the oligonucleotide synthesis market in 2023. This significant share is due to the pressnec of a strong product portfolio, including custom and predesigned primers, probes, DNA, and RNA oligos, as well as reagents and consumables. The company undertakes various organic and inorganic strategies to strengthen its position in the market. For instance, in 2021, Thermo Fisher Scientific entered in a strategic collaboration with the University of Sheffield aimed at developing workflows for the characterization and monitoring of complex oligonucleotide and mRNA products utilizing various technologies from Thermo Fisher and the research expertise of the University of Sheffield. The company also has a strong geographic presence and operates in more than 50 countries across the North America, Europe, Asia Pacific and the Latim America regions.

According to a new report by MarketsandMarkets™ – Oligonucleotide Synthesis Market in terms of revenue was estimated to be worth $8.8 billion in 2024 and is poised to reach $19.7 billion by 2029, growing at a CAGR of 17.5% from 2024 to 2029.

One of the key factors driving the market growth is the growing acceptance of alternate therapies such as oligonucleotide-based therapies for the treatment of neurological and rare The incorporation of synthesized oligonucleotides to treat various diseases also supports market growth.

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Probes are an important subsegment in the market for synthesized oligonucleotides. The segment accounted for the second-largest market share of the synthesized oligonucleotide market. This is due to high specificity and sensitivity of probes allowing their use in genetic research, pathogen detection, clinical diagnostics, and the study of gene expression patterns, offering insights into diverse biological processes and disease mechanisms. Techniques such as fluorescence in situ hybridization (FISH) utilize these probes for the detection of various genetic abnormalities that the root cause of several birth defects, neurological conditions and cancers among others.

By end user, hospitals accounted for the largest share of the oligonucleotide synthesis market in 2023. Growth in this market is largely driven by the significant number of FDA-approvals for oligonucleotide-based drugs especially antisense oligonucleotide drugs for rare and neurological diseases, increasing awareness towards alternative therapies and growing health-care spending. Ongoing research to develop oligonucleotide-based drugs for more common diseases such as cardiovascular diseases, supported by availability of reimbursement policies in developed economies are aiding this segment’s growth.

In 2023, PCR accounted for the largest share of the research application subsegment of the oligonucleotide synthesis market. PCR technologies such as real-time PCR or quantitative PCR (qPCR) used for both qualitative and quantitative analysis in the fields of molecular diagnostics, medicine, microbiology, and forensic biology are driving end-user demand. These PCR applications utilize sequence-specific primers, thus boosting the market for oligos (which are used as probes and primers) in the PCR market.

The North America region is expected to show the highest CAGR of the oligonucleotide synthesis market. The growing investments in research and development by major pharmaceutical & biotechnology companies, increasing application of oligonucleotides in pharmaceutical drug research, and growing public & private sector investments in genomics and related technologies are expected to aid market growth in the North America.

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Oligonucleotide Synthesis Market Dynamics:

Drivers:

1. Increasing use of synthesized oligos in therapeutic and diagnostic applications
2. Technological advancements
3. Growing government investments in life science research and synthetic biology
4. Growing focus on precision/personalized medicine

Restraints:

1. Complexities associated with therapeutic oligonucleotides

Opportunities:

1. Increasing R&D investments by key players in emerging economies

Challenge:

1. Lack of standard regulations
2. Delivery of oligonucleotide drugs to specific targets

Key Market Players of Oligonucleotide Synthesis Industry:

Some leading players operating in the oligonucleotide synthesis market are Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Eurofins Scientific (Luxembourg), LGC Limited (UK), Agilent Technologies, Inc. (US), Kaneka Corporation (Japan), Maravai Lifesciences holdings, Inc. (US), Azenta, Inc. (US), Twist Bioscience Corporation (US) and Genscript Biotech Corporation (US). Major players in the oligonucleotide therapeutics market are Biogen Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), Astrazeneca (UK), Astellas Pharma Inc. (Japan), Jazz Pharmaceuticals Plc (Ireland), Nippon Shinyaku, Co. Ltd. (Japan), Ionis Pharmaceuticals, Inc. (US) and Novartis AG (Switzerland).

The primary interviews conducted for this report can be categorized as follows:

• By Respondent: Supply Side- 70% and Demand Side – 30%
• By Designation: Managers- 45%, CXOs, and Director level – 30%, and Executives – 25%
• By Region: North America -35%, Europe – 25%, Asia-Pacific -15%, Latin America -10%, Middle East- 10%, Africa- 5%

Recent Developments of Oligonucleotide Synthesis Industry:

• In November 2023, LCG Biosearch Technologies, a business unit of LGC Limited, acquired PolyDesign to enhance its oligonucleotide synthesis capabilities using PolyDesign’s frit technology.
• In October 2023, Integrated DNA Technologies (IDT), a subsidiary of Danaher Corporation, opened its therapeutic oligonucleotide manufacturing facility in Coralville, Iowa. This facility will produce reagents for cGMP cell & gene therapy, including single-guide RNAs and HDR donor oligos.

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