Oligonucleotide Synthesis Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Report Covers Global Oligonucleotide Market Outlook & Size. The Market is Segmented by Product Type (Synthesized Oligonucleotide Products, Reagents, Equipment, and Services), Application (Research, Therapeutics, and Diagnostics), End-user (Academic Research Institutes, Pharmaceutical and Biotechnology Companies, and Hospital and Diagnostic Laboratories), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market size and forecasts are provided in terms of value (in USD million) for the above segments.

Oligonucleotide Synthesis Market Size

Oligonucleotide Synthesis Market Summary
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Study Period 2019-2027
Base Year For Estimation 2022
Forecast Data Period 2023 - 2028
CAGR 12.30 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Oligonucleotide Synthesis Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Oligonucleotide Synthesis Market Analysis

The oligonucleotide synthesis market is expected to register a CAGR of 12.3% over the forecast period.

COVID-19 has impacted the growth of the oligonucleotide synthesis market. The increased demand for COVID-19 diagnostics has, in turn, increased the global demand for oligonucleotide raw materials that form the basis of molecular diagnostic products. In a study published in PLOS One in March 2022, it was observed that the oligonucleotides successfully targetted 5'-polyUs in the coronavirus genome. Also, developing therapeutic COVID-19 medicines employing essential mutational targets, such as the 5'-polyU tract, can lessen the production and spread of new SARS-CoV-2. Such research studies have impacted the demand and adoption for oligonucleotides in drug development, affecting the market growth during a pandemic.

Moreover, various companies are investing in oligonucleotide synthesis, which is expected to increase market growth over the forecast period. For instance, in September 2021, SpeeDx invested in local oligonucleotide manufacturing to reduce supply chain risk and develop a more vital sovereign capacity for critical diagnostics. Such developments are expected to increase the adoption of oligonucleotides in drug development which is anticipated to fuel the market growth over the forecast period.

Other significant factors include the increasing government investments and R&D expenditure in pharmaceutical and biotechnology companies and the use of synthesized oligonucleotides in molecular diagnostics and clinical applications.

There are growing government initiatives for raising funds to develop various genome projects to develop advanced therapeutics to treat multiple chronic and rare diseases. This is expected to increase the demand for oligonucleotides for drug development, boosting the market growth. For instance, in September 2022, the National Institutes of Health invested more than USD 600 million to launch the next stage of its human genome project for the brain. This funding helps to devise new ways to target therapeutics and other molecules to specific brain cell populations.

Additionally, the rising company and government initiatives to boost the development of oligonucleotide-based drug products and the adoption of oligonucleotide technology in the pharmaceutical and biotechnology industry are also expected to increase market growth. For instance, in February 2021, CPI launched a project in the Medicines Manufacturing Innovation Centre to revolutionize the manufacture of oligonucleotides. The Medicines Manufacturing Innovation Centre launched a collaboration with AstraZeneca, Exactmer, Novartis, and UK Research and Innovation to develop a scalable, sustainable, and more cost-effective medicines manufacturing process for oligonucleotides: short strands of synthetic DNA or RNA. This development enhances the production capacity and viability of this exciting new class of medicines and is expected to increase market growth over the forecast period.

Furthermore, the increasing adoption of oligonucleotides in molecular diagnostics and clinical applications contributes to market growth. For instance, in February 2022, researchers at the University of Illinois Urbana developed a new miRNA point-of-care test for cancer detection. The test uses nanoparticles to capture tumor-specific microRNAs (miRNAs) in human serum. In January 2021, Diagenode launched a new small RNA-sequencing solution, D-Plex Small RNA DNBSEQ Kit, compatible with MGI's DNBSEQ sequencers. The kit incorporates unique D-Plex technology for library preparation enabling high performance with ultralow RNA inputs and providing diverse small RNA transcript detection.

Therefore, the studied market is expected to grow over the forecast period owing to the increasing research and development initiatives and the establishment of the facilities. However, the high treatment cost of oligonucleotides and the lack of skilled professionals and research support in undeveloped countries are expected to hinder the growth of the oligonucleotide synthesis market over the forecast period.

Oligonucleotide Synthesis Market Trends

This section covers the major market trends shaping the Oligonucleotide Synthesis Market according to our research experts:

Therapeutic Segment Expected to Register a High CAGR

The therapeutics segment is expected to witness significant growth in the oligonucleotide synthesis market over the forecast period owing to factors such as the increasing prevalence of chronic and rare diseases, along with the growing adoption of oligonucleotides in drug development and rising product launches.

Oligonucleotide therapeutics are classified as therapeutics that use antisense oligonucleotides or small interfering RNAs (siRNAs) to target RNA or protein. Oligonucleotide therapies include decoys that prevent transcription by concentrating on transcription factors, regulate the expression of complementary microRNA (miRNA) to specific mRNAs, and limit the translation of certain proteins from mRNA. For instance, as per an article published in Future Medicine in February 2022, oligonucleotide therapeutics is one of the most adaptable platforms for creating medications for rare diseases.

The growing company's focus on adopting various business strategies, such as collaborations, financing, and others, is also contributing to the market growth. For instance, in January 2022, Ceptur Therapeutics, Inc. successfully acquired USD 75 million in a Series-A financing round led by venBio Partners and Qiming Venture Partners USA to advance RNA therapeutics based on proprietary U1 adaptor technology, a bivalent oligonucleotide that engages sequence-specific mRNA and U1 small nuclear ribonuclear protein. The U1 small nuclear ribonuclear protein is a ubiquitous intracellular machine that regulates transcription and splicing. Utilizing synthetic oligonucleotides that interact with U1 snRNP offers the ability to co-opt the key transcriptome regulator to regulate mRNA in a highly targeted manner.

Furthermore, increasing product launches and approvals are expected to increase the demand for oligonucleotide drugs, propelling the market growth. For instance, in February 2021, the USFDA approved an Amondys 45 (casimersen) injection to treat Duchenne muscular dystrophy (DMD) in patients with a confirmed mutation of the DMD gene.

Moreover, various companies are developing oligonucleotide therapeutics, which are expected to increase their adoption in the pharmaceutical and biotechnology industry, bolstering the market growth. For instance, as per clinicaltrials.gov, as of July 2022, TME Therapeutics is developing STNM01, which is being evaluated in a Phase-I clinical study to treat unresectable pancreatic cancer. Also, Nitto Biopharma is developing ND-L02-s0201 under a Phase-II study and is being assessed for idiopathic pulmonary fibrosis (IPF).

Therefore, owing to the factors such as the increasing company activities in adopting various business strategies for developing oligonucleotide-based drugs and rising product launches, the studied segment is anticipated to witness growth over the forecast period.

Projected Population with Alzheimer's Dementia (aged above 65 years) (in Million), United 13.8  States, 2022-2060

North America Expected to Occupy a Significant Share in the Studied Market

North America is expected to dominate the market over the forecast period. The factors attributing to the market growth are the rising prevalence of chronic and rare diseases among the population, increasing R&D expenditure by the companies, and the presence of key market players in the region.

According to the Cancer Facts and Figures 2022, over 1.9 million new cancer cases are expected to be diagnosed in the United States in 2022. Also, as per 2022 statistics published by Breastcancer.org, an estimated 287,850 new cases of invasive breast cancer and 51,400 new cases of non-invasive (in situ) breast cancer are expected to be diagnosed in the United States in 2022. The growing burden of cancer among the population raises the need for advanced therapeutics, boosting the demand for oligonucleotide therapeutics and propelling the market growth.

As per the 2022 statistics published by IDF, about 2.9 million people were living with diabetes in Canada in 2021. This number is projected to reach 3.2 million and 3.4 million by 2030 and 2045, respectively. Thus, the expected increase in the diabetic population in the country raises the demand for antisense oligonucleotides in developing antidiabetic agents, as they can reduce the expression of disease-causing genes at the RNA and protein levels. This is anticipated to boost the market growth over the forecast period,

The increasing development of drugs and rising regional product launches are anticipated to fuel market growth. For instance, in January 2022, the USFDA approved inclusion injection (Leqvio), an innovative small inclisiran RNA medicine, to be used with diet and statin therapy in adults with heterozygous familial hypercholesterolemia (HeFH) or clinical atherosclerotic cardiovascular disease (ASCVD) who require additional lowering of low-density lipoprotein cholesterol (LDL-C).

Furthermore, as per clinicaltrials.gov, as of July 2022, TME Pharma Agis is conducting a Phase II clinical study of Olaptesed Pegol (NOX-A12) combined with pembrolizumab and nanoliposomal irinotecan/5-FU/leucovorin or gemcitabine/nab-paclitaxel in microsatellite-stable metastatic pancreatic cancer patients.

Moreover, the increasing investment by the companies to boost the production of oligonucleotide drugs and facility expansion is contributing to the market growth. For instance, in March 2021, Nitto Denko Corporation revealed its plan to invest about JPY 25 billion (USD 227 million) in its United States-based subsidiary, Nitto Denko Avecia Inc., and other businesses to increase the manufacturing capacity of its therapeutic oligonucleotide business.

Therefore, owing to the factors such as the rising burden of cancer, rising product launches and approvals, growing company activities in conducting clinical trials as well, and increasing company focus on investing in oligonucleotides business are anticipated to fuel the market growth in the North America region over the forecast period.

Oligonucleotide Synthesis Market - Growth Rate by Region

Oligonucleotide Synthesis Industry Overview

The market is fragmented with the presence of a large number of players adopting various strategies, such as the acquisition of players in emerging markets, distribution partnerships, and collaboration for the development of novel technologies. The companies operating in the oligonucleotide synthesis industry are also expanding and developing their product portfolios, which helps drive the overall market and makes it fairly competitive. Some of the companies which are currently dominating the market are Agilent Technologies, Thermo Fisher Scientific, Merck KGaA, Danaher Corporation, Bio-Synthesis Inc., Eurofins Scientific, Kaneka Corporation (Eurogentec), GenScript, and LGC Limited (LGC Biosearch Technologies).

Oligonucleotide Synthesis Market Leaders

  1. Thermo Fisher Scientific

  2. Agilent Technologies

  3. Merck KGaA

  4. Bio-Synthesis Inc

  5. Eurofins Scientific

*Disclaimer: Major Players sorted in no particular order

Oligonucleotide Synthesis Market - cl.png

Oligonucleotide Synthesis Market News

  • July 2022: WuXi STA, a subsidiary of WuXi AppTec, launched a new large-scale oligonucleotide and peptide manufacturing facility at its Changzhou campus. This new launch enhances its capacity and capability to meet the fast-growing customer needs for oligonucleotide and peptide therapeutics development and manufacturing worldwide.
  • April 2022: Bachem entered a strategic collaboration with Eli Lilly & Company to develop and manufacture active pharmaceutical ingredients based on oligonucleotides, a rising new class of complex molecules. Under the agreement, Bachem provides the appropriate engineering infrastructure and expertise to implement Lilly's novel oligonucleotide manufacturing technology.

Oligonucleotide Synthesis Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope Of The Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Government Investments and R&D Expenditure in Pharmaceutical and Biotechnology Companies

      2. 4.2.2 The Use of Synthesized Oligonucleotides in Molecular Diagnostics and Clinical Applications

    3. 4.3 Market Restraints

      1. 4.3.1 High Treatment Cost of Oligonucleotides

      2. 4.3.2 Lack of Skilled Professionals and Research Support in Undeveloped Countries

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 5.1 By Product Type

      1. 5.1.1 Synthesized Oligonucleotide Products

      2. 5.1.2 Reagents

      3. 5.1.3 Equipment

      4. 5.1.4 Services

    2. 5.2 By Application

      1. 5.2.1 Research

      2. 5.2.2 Diagnostics

      3. 5.2.3 Therapeutics

    3. 5.3 By End-user

      1. 5.3.1 Academic Research Institutes

      2. 5.3.2 Pharmaceutical and Biotechnology Companies

      3. 5.3.3 Hospital and Diagnostic Laboratories

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Agilent Technologies

      2. 6.1.2 Thermo Fisher Scientific

      3. 6.1.3 Merck KGaA

      4. 6.1.4 Danaher Corporation

      5. 6.1.5 Bio-Synthesis Inc.

      6. 6.1.6 Eurofins Scientific

      7. 6.1.7 Kaneka Corporation (Eurogentec)

      8. 6.1.8 GenScript

      9. 6.1.9 LGC Limited (LGC Biosearch Technologies)

      10. 6.1.10 Maravai Life Sciences

      11. 6.1.11 Biogen

      12. 6.1.12 Sarepta Therapeutics, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

Oligonucleotide Synthesis Industry Segmentation

Oligonucleotide synthesis is the chemical synthesis of relatively short fragments of nucleic acids with a defined chemical structure (sequence). 

The Oligonucleotide Synthesis Market is Segmented by Product Type (Synthesized Oligonucleotide Products, Reagents, Equipment, and Services), Application (Research, Therapeutics, and Diagnostics), End-user (Academic Research Institutes, Pharmaceutical and Biotechnology Companies, and Hospital and Diagnostic Laboratories), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Product Type
Synthesized Oligonucleotide Products
Reagents
Equipment
Services
By Application
Research
Diagnostics
Therapeutics
By End-user
Academic Research Institutes
Pharmaceutical and Biotechnology Companies
Hospital and Diagnostic Laboratories
By Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Oligonucleotide Synthesis Market Research FAQs

The Oligonucleotide Synthesis Market is projected to register a CAGR of 12.3% during the forecast period (2023-2027).

Thermo Fisher Scientific, Agilent Technologies, Merck KGaA, Bio-Synthesis Inc and Eurofins Scientific are the major companies operating in the Oligonucleotide Synthesis Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2027).

In 2023, the North America accounts for the largest market share in the Oligonucleotide Synthesis Market.

Oligonucleotide Synthesis Industry Report

Statistics for the 2023 Oligonucleotide Synthesis market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oligonucleotide Synthesis analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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