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Oligonucleotide Synthesis Market Size, Growth, Segment Analysis and Future Scope

The main factors driving the oligonucleotide synthesis market size progress are the extending government support, rapid technological advancements, increasing prevalence of infectious diseases and cancer, and surging synthetic biology research activities. From $1.5 billion in 2017, the market revenue is predicted to increase to $2.8 billion by 2023, at a 10.8% CAGR during the forecast period (2018–2023). Oligonucleotides are short fragments of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) molecules with a single strand, which can be manually produced.

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Reagents & consumables, synthesized oligonucleotides, and equipment are the various categories under the offering segment. Among these, the synthesized oligonucleotides category led the oligonucleotide synthesis market in 2017, with a share of 76.3%, in terms of value, and it is also expected to experience the highest CAGR, of 11.1%, during the forecast period. This is ascribed to the fact that such biologics are being increasingly manufactured under contract, owing to the rapidly rising demand for them.

On the basis of application, the market is divided into diagnostics, research, and therapeutics. In 2017, the research division dominated the market, and it is projected to witness the quickest progress, at an 11.1% CAGR during the forecast period. Owing to the increasing funding from the government, academic institutes, biotechnology and pharmaceutical companies, and hospitals are focusing on artificial gene, next-generation sequencing, anti-sense RNA, and genetic mutation research, wherein oligonucleotides are required, thus leading to an increasing production by artificial means.

Globally, Asia-Pacific (APAC) is predicted to witness the highest CAGR, of 11.6%, in the oligonucleotide synthesis market during the forecast period. This is attributed to the improvements in the healthcare infrastructure, rise in the requirement for enhanced patient outcomes, and surge in the incidence of infectious and chronic diseases. Another reason behind the regional market’s0 progress is the growing geriatric population, which is more susceptible to diseases, therefore needs effective and continuous therapies.

Therefore, with cancer and infectious diseases becoming an even bigger issue and R&D being done to mitigate their ill-effects, the demand for synthesized oligonucleotides will keep growing.

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