According to the recently published report by Roots Analysis, the rising prevalence for small molecules and gene therapies for the treatment of diseases is driving the market.
Global Oligonucleotide Synthesis Market Overview
LONDON, Jan. 10, 2024 /PRNewswire/ -- The global oligonucleotide synthesis market is anticipated to be worth USD 3.5 billion in 2023, and it is expected to reach 9.9 billion by 2035. It is estimated to grow at a compounded annual growth rate (CAGR) of 16.1% during the forecast period (2023-2035).
Oligonucleotides have seen a significant increase in applications, playing crucial roles in genetic and molecular testing, as well as therapeutic studies. Over 14 oligonucleotide-based therapies have been approved, with examples like AMONDYS 45 (2021) and Oxlumo (2020). Manufacturing oligonucleotides involves complex chemical synthesis, leading many in the field to rely on contract service providers due to challenges in purification and analytical expertise. The demand for effective targeted therapies, particularly post-COVID-19, has fueled an increase in oligonucleotide demand for testing kits. As a result, contract service providers are expanding to meet this growing demand. Positive clinical trial results and extensive research on oligonucleotides are expected to create lucrative opportunities for custom and contract service providers in the foreseeable future.
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Oligonucleotide Synthesis Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | USD 3.5 billion |
Estimated value by 2035 | USD 9.9 billion |
Growth rate | (CAGR) of 16.1% |
Forecast Period | 2023-2035 |
Segments Covered | Type of Manufacturing, Scale of Operation, Type of Operation |
Geographies Covered | North America, Europe, Asia-Pacific and Rest of the World |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Drivers, Restraints and Trends |
Market Drivers
The drivers of the oligonucleotide synthesis market include the therapeutic potential of oligonucleotides, their crucial role in diagnostics and testing procedures, a growing pipeline of approved therapies, outsourcing trends due to synthesis complexity, increased demand for targeted therapies globally, the impact of the COVID-19 pandemic on testing kit development, positive clinical trial results, and ongoing technological advancements in synthesis methods. These factors collectively contribute to the market's growth, reflecting the expanding applications and demand for oligonucleotides in various fields.
Market Restraints
The oligonucleotide synthesis market faces several challenges, including the complexity of synthesis procedures, purification difficulties, gaps in analytical expertise, cost intensiveness, and regulatory constraints. Additionally, limited in-house manufacturing capabilities and the potential for supply chain disruptions pose restraints. Intense market competition contributes to pricing pressures and reduced profit margins. Overcoming these challenges requires ongoing innovation, investment in technology and workforce development, and strategic collaborations to navigate regulatory hurdles and ensure a robust and sustainable market for oligonucleotide synthesis.
Growth Factors
The growth factors for the oligonucleotide synthesis market include the expanding applications of oligonucleotides in genetic testing, diagnostics, and therapeutics. Oligonucleotides' therapeutic potential, demonstrated by successful clinical studies and approvals of therapies like AMONDYS 45 and Oxlumo, contributes to market growth. The increasing demand for targeted therapies, outsourcing trends in manufacturing operations, and the surge in demand for oligonucleotides in COVID-19 testing kits further fuel market expansion. Additionally, technological advancements, positive clinical trial results, ongoing research activities, and strategic market expansion efforts by service providers collectively contribute to a positive outlook for the oligonucleotide synthesis market.
Recent Developments in Oligonucleotide Synthesis Market:
Several recent developments have taken place in the field of oligonucleotide synthesis. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.
- In March 2023, Centre for Process Innovation, AstraZeneca, Novartis, and The University of Manchester entered into a collaboration in order to facilitate large-scale manufacturing of oligonucleotides for the total amount of EUR 2.77 million.
- In March 2023, Ansa Biotechnologies announced the successful de novo synthesis of the world's longest DNA oligonucleotide at 1,005 bases in a single synthesis.
- In January 2023, Aurisco entered into a collaboration with Cytiva with an aim to build its first Oligo FlexFactory platform for commercial production of nucleotides.
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Oligonucleotide Synthesis Market Segment (for Outsourcing)
Based on the type of oligonucleotide, the oligonucleotide synthesis market is segmented into Antisense, siRNA, shRNA, miRNA, and Others.
- Antisense oligonucleotides will dominate the market during the forecast period and is estimated to capture 74% market share in 2030.
- The siRNA oligonucleotides will likely grow at a higher compounded annual growth rate (CAGR) of 25.2% during the forecast period 2023-2030.
Based on the scale of operation, the oligonucleotide synthesis market is segmented into clinical and commercial operations.
- Commercial operations will dominate the oligonucleotide synthesis market during the forecast period and are anticipated to capture 83% of the overall revenue share in 2023.
- Clinical operations will grow at a higher compounded annual growth rate (CAGR) of 17.1% during the forecast period 2023-2030.
Based on the type of operation, the oligonucleotide synthesis market is segmented into API and FDF.
- FDF operation will dominate the oligonucleotide synthesis market during the forecast period and is anticipated to capture 53% of the market share in 2023.
- FDF operations will grow at a higher compounded annual growth rate (CAGR) of 16.3% during the forecast period 2023-2030.
Based on the size of the manufacturer, the oligonucleotide synthesis market is segmented into small, mid-sized, and large manufacturers.
- Large manufacturers will dominate the oligonucleotide synthesis market during the forecast period and are anticipated to capture 64% of the market share in 2023.
- Mid-sized manufacturers will likely grow at a higher compounded annual growth rate (CAGR) of 17.2% during the forecast period 2023-2030.
Based on the key therapeutic area outsourced, the oligonucleotide synthesis market is segmented into autoimmune disorders, cardiovascular disorders, genetic disorders, infectious disorders, metabolic disorders, neurological disorders, oncological disorders, ophthalmic disorders, and other disorders.
- Neurological disorders will dominate the oligonucleotide synthesis market during the forecast period and are estimated to capture 61% of the overall revenue share in 2023.
- Genetic disorders will likely grow at a higher compounded annual growth rate (CAGR) of 23.8% during the forecast period 2023-2030.
Based on geographical region, the oligonucleotide synthesis market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
- North American market will dominate during the forecast period and is anticipated to capture 49% of the market share in 2023.
- In Asia-Pacific and the rest of the world, the oligonucleotide synthesis market will likely grow at a higher compounded annual growth rate (CAGR) of 17.8% from 2023 to 2030.
Key Companies Profiled
The market report also includes detailed profiles of key players (listed below) that offer oligonucleotide synthesis services and solutions:
- Ajinomoto Bio-Pharma Services
- Agilent Technologies
- Biosearch Technologies
- CordenPharma
- Integrated DNA Technologies
- Kaneka Eurogentec
- LGC
- Lonza
- Microsynth Sigma Aldrich
- Nitto Denko Avecia
- Sumitomo Chemical
- STA Pharmaceutical
- Thermo Fisher Scientific
- TriLink Biotechnologies
It is worth highlighting here that in January 2023, Aurisco entered into a strategic collaboration with Cytiva to build its first OligoFlexfactory platform to strengthen its commercial production of nucleotides. Driven by ongoing collaborations, the oligonucleotide synthesis market is estimated to grow during the forecast period.
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Key Benefits of Buying this Report
- The report offers market leaders and newcomers valuable insights into revenue estimations for both the overall market and its sub-segments.
- Stakeholders can utilize the report to enhance their understanding of the competitive landscape, allowing for improved business positioning and more effective go-to-market strategies.
- The report provides stakeholders with a pulse on the spectrometry market, furnishing them with essential information on significant market drivers, barriers, opportunities, and challenges.
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