Oligonucleotides are short nucleic acid polymers used in biotechnological applications such as gene therapeutics, diagnostics, research and forensics. They are artificially synthesized through different chemical and enzymatic reactions. The growing demand for oligonucleotides in therapeutics such as antisense oligonucleotides, siRNA, miRNA and gene editing is significantly driving the Oligonucleotide Synthesis Market.
The Global Oligonucleotide Synthesis Market is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity of increasing demand for oligonucleotides in therapeutics is expected to boost the Oligonucleotide Synthesis Market substantially over the forecast period. Oligonucleotides play a crucial role in various therapeutic applications such as treatment of rare genetic disorders like Duchenne muscular dystrophy and Mucopolysaccharidosis. They are also used for inhibition of gene expression through RNA interference technology for treating cancers and infectious diseases. With growing approval and commercialization of oligonucleotide-based therapeutics drugs, the demand for customized oligonucleotides from pharmaceutical and biotech companies is increasing. This rising demand is expected to propel the Oligonucleotide Synthesis Market growth in the coming years.
Porter's Analysis
Threat of new entrants: The Oligonucleotide Synthesis Market requires a large capital investment to build oligonucleotide manufacturing facilities and acquire the necessary equipment. This high barrier to entry protects existing players from new competition.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players in this market that can meet the demands and requirements of end users. However, customers also have the option to develop oligonucleotides in-house.
Bargaining power of suppliers: Suppliers of key raw materials for oligonucleotide synthesis like phosphoramidites have some bargaining power due to the specialized nature of their products and services. However, the availability of substitute materials and suppliers keeps their power in check.
Threat of new substitutes: There is a low threat of substitutes as oligonucleotides have very specific applications in areas like genetic testing,research, and diagnosis where no close substitute exists.
Competitive rivalry: The market is competitive with the presence of many Global and regional players. Players compete based on technological advancements, capabilities, accuracy, and price.
SWOT Analysis
Strengths: Established production facilities, technical expertise, innovative product pipeline, collaborative agreements and partnerships.
Weaknesses: High capital investment requirements, stringent regulatory norms, reliance on limited raw material suppliers.
Opportunities: Increasing R&D in genomics and biotechnology, growing pharmaceutical industry, development of personalized medicine.
Threats: Price wars among players, need for heavy investments in new technologies, intellectual property risks.
Key Takeaways
Global Oligonucleotide Synthesis Market Size is expected to witness high growth over the forecast period supported by factors like increasing R&D investments in genomics and biomedical science. The Global Oligonucleotide Synthesis Market is estimated to be valued at US$ 3962.67 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
The North American region currently dominates the Global Oligonucleotide Synthesis Market owing to the presence of major companies and research institutions. Government funding for biomedical research along with demand for genetic testing and screening also contributes to market growth in this region.
Key players operating in the Oligonucleotide Synthesis Market are Agilent Technologies, Creative Biogene, General Electric, Illumina, LGC Biosearch Technologies, Nitto Denko Avecia, Thermo Fisher Scientific, Trilink Biotechnologies, Bio-Synthesis. These players compete based on capability to provide oligonucleotides of varying complexity, lengths, and purities. Companies like Agilent and Illumina also integrate oligonucleotide synthesis with other genomic and biotechnology solutions to offer one-stop solutions to end users. Collaborations and partnerships are an important part of innovation and business expansion strategies for Oligonucleotide Synthesis Market players.
Get More Insights on this Topic https://www.dailyprbulletin.com/oligonucleotide-synthesis-market-value-insights-and-analysis/
Comments
0 comment