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%

Tuesday, May 7, 2019 General News
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NEW YORK, May 6, 2019 /PRNewswire/ -- Increasing R&D expenditure by pharmaceutical and biotechnology companies and the rising demand for synthesized oligos in molecular diagnostics & therapeutics are expected to drive the overall growth of the oligonucleotide synthesis marketRead the full 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% during the forecast period. This 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. The increasing applications of oligos in nucleic acid array-based technologies, library preparation, NGS, genomics, nucleic acid-based detection, cell cultures, diagnostics, therapeutics, human identity testing, cloning, genetic engineering, and synthetic biology are also driving the growth of this market.Hospitals accounted for the largest share of the oligonucleotide synthesis market, by end user, in 2018Based on end user, the oligonucleotide synthesis market is segmented into academic research institutes, pharmaceutical and biotechnology companies, diagnostic laboratories, and hospitals. Hospitals held the largest share of the market in 2018 due to the significant number of inpatient and outpatient visits in hospitals and the requirement of oligonucleotide drugs to cater to the demand of the patient pool suffering from diseases such as Duchenne muscular dystrophy, spinal muscular atrophy, and hepatic veno-occlusive disease.Synthesized oligos dominated the oligonucleotide synthesis market, by product, in 2018Based on product, the market is segmented into synthesized oligos, reagents, and equipment.The synthesized oligos segment held the largest share of the market in 2018 and is estimated to grow at the highest CAGR during the forecast period.Growth in this segment is attributed to the increasing applications of synthesized oligos in therapeutics, research, and diagnostics.North America to dominate the market during the forecast periodGeographically, the oligonucleotide synthesis market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.In 2018, North America was the largest regional market for oligonucleotide synthesis.The North American market is also estimated to grow at the highest CAGR during the forecast period owing to the growing availability of synthesized oligos, along with an increase in R&D funding and activities in the North American region.The primary interviews conducted for this report can be categorized as follows:• By Company Type - Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%• By Designation - C-level: 45%, D-level: 35%, and Others: 20%• By Region - North America: 45%, Europe: 25%, Asia Pacific: 18%, Latin America: 7%, and Middle East and Africa: 3%List of Companies Profiled in the Report• include Agilent Technologies, Inc. (US)• ATDBio Ltd. (UK)• Bio-Synthesis, Inc. (US)• BioAutomation Corporation (US)• LGC Biosearch Technologies (US)• Eurofins Genomics (Germany)• Eurogentec (Belgium)• GeneDesign, Inc. (Japan)• GE Healthcare (US)• GenScript, Inc. (US)• Integrated DNA Technologies (IDT, US)• Nitto Denko Avecia, Inc. (US)• Sarepta Therapeutics (US)• Thermo Fisher Scientific, Inc. (US)• TriLink BioTechnologies (US)• Sigma-Aldrich Corporation (US) (a part of Merck KGAA)Research Coverage:This report provides a detailed picture of the global oligonucleotide synthesis market.It aims at estimating the size and future growth potential of the market across different segments, such as product & type, application, end user, and region.The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.Key Benefits of Buying the Report:The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall oligonucleotide synthesis market and its subsegments.It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.This report will enable stakeholders to understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.Read the full report: About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: US: (339)-368-6001 Intl: +1 339-368-6001

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