Oligonucleotide Synthesis Market Growing with Rising Cancer Burden

As a result, the worth of the sales of synthesized oligonucleotides will increase from $1.5 billion in 2017 to $2.8 billion by 2023.

The most-prominent factors leading to the growth of the oligonucleotide synthesis market are the technological advancements in the field, increasing government support, rising number of research studies related to synthetic biology, and surging incidence of infections and cancer. Oligonucleotides are short chains of ribonucleic acid (RNA) and deoxyribonucleic acid (DNA), which have wide-ranging medical research and clinical applications.

Equipment, reagents & consumables, and synthesized oligonucleotides are the categories when the market is segmented on the basis of offering. Among these, the synthesized oligonucleotides category dominated the market during 2013–2017 (historical period), and it is also expected to grow the fastest during the forecast period. Due to the rising demand for such biologics for research and clinical applications, biotechnology and biopharmaceutical companies are outsourcing their production to contract manufacturers, as this way, the bigger companies can offer a high quantity of products at a lower operational cost.

The key driver for the oligonucleotide synthesis market is the advancements in the field that have allowed for faster and cost-effective synthesis of such products. Some of these technological improvements are new sets of protective amino groups, microchips, high-throughput synthesizers, and better coupling reagents. In addition, with the introduction of the microarray technology, many oligonucleotide conjugates with biological ligands have been created, which are now being used for the diagnosis of inherited diseases. Additionally, the error rate has come down owing to the enhancements in enzymatic error correction technologies.

During the forecast period, the Asia-Pacific (APAC) region will experience the highest CAGR in the oligonucleotide synthesis market as a result of the rising investments by regional governments in advancing their healthcare infrastructure. Additionally, the surging geriatric population in the region, which is already the largest in the world, is driving the prevalence of all kinds of chronic and acute diseases. This, in turn, is predicted to lead to the surging demand for synthesized oligonucleotides for the detection and treatment of diseases and reduction of the mortality rate.

Thus, with continued technological advancements, more-effective oligonucleotides would emerge, which could potentially revolutionize healthcare.

Browse detailed report on Oligonucleotide Synthesis Market Research Report – Global Industry Analysis

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