The
worldwide oligonucleotide synthesis
market
is growing due to favorable government policies, increasing prevalence of
infectious diseases and cancer, advancements in synthesis technology, and ongoing
research in synthetic biology. Valued at $1.5 billion in 2017, the domain is
predicted to progress with a 10.8% CAGR during the forecast period 2018–2023,
ultimately generating $2.8 billion in revenue by 2023. By definition,
oligonucleotide synthesis is the artificial creation of oligonucleotides, which
are short DNA or RNA fragments.
 |
| Learn more about this report: http://bit.ly/31S6nKb |
On
the basis of offering, reagents and consumables, synthesized oligonucleotides,
and equipment are the three market categories. Among these, synthesized
oligonucleotides held the largest revenue share (76.3%) in 2017 and is also
predicted to grow the fastest during the forecast period, at an 11.1% CAGR. The
increase in contract manufacturing of DNAs and RNAs is expected to escalate the
demand for synthesized oligonucleotides. Similarly, when segmented by
application, the oligonucleotide synthesis market can be categorized into
diagnostics, research, and therapeutics.
Over
the years, the number of private and public organizations involved in synthetic
biology research has grown significantly. Woodrow Wilson International Center
for Scholars (Wilson Center), in a 2013 article, reported that the number of
companies carrying out research in the field grew from 230 in 2009 to 503 by
2013. Such activities have paved the way for the development of small
chemotherapeutic molecules and advanced biopharmaceuticals. Further,
developments, including microchip-aided production, are leading to
cost-effective and swift manufacturing of oligonucleotides.
Now,
the oligonucleotide R&D is itself being bolstered by growing government
support in the form of funding and other initiatives. The U.S. government
invested about $820 million in synthetic biology R&D between 2008 and 2014.
Similarly, as per SynbiCITE an England-based organization, the U.K government
invested over $400 million during 2009–2016 for establishing three training
centers and six research institutes dedicated to synthetic biology. Thus, with
favorable government attitude toward providing people with better levels of
healthcare, the oligonucleotide synthesis market is predicted to continue on
the path to prosperity.
0 Comments