Oligonucleotide synthesis is used in various applications such as next-generation sequencing (NGS) methods, nucleic acid array-based technologies, therapeutics, library preparations, human identity testing, genomics, nucleic acid-base detections, cell cultures, cloning, diagnostics, and genetic engineering and synthetic biology. The global oligonucleotide synthesis market is growing at a significant rate, due to the mounting usage of synthesized oligonucleotides in molecular diagnostics and clinical applications, and intensifying demand for synthesized oligonucleotides.
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Globally, the manufacturing companies trying to enter the oligonucleotide synthesis market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest oligonucleotide synthesis market as in the region the research and development expenditure in the pharmaceutical and biotechnology companies are mounting. In addition, the presence of major players and accessibility of public and private sector funds for research activities are also up surging growth of the North American oligonucleotide synthesis market.
Asia-Pacific is observed to witness the fastest growth in the market, due to the mounting accessibility of synthesized oligos. In addition, the mounting need for better healthcare outcome, the upsurge in R&D funding, improving healthcare infrastructure and activities and escalating government funding are also creating a positive impact on the oligonucleotide synthesis market growth in the region.
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Key players in the oligonucleotide synthesis market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In October 2016, Nitto Denko Avecia Inc. acquired Irvine Pharmaceutical Services and Avrio Biopharmaceuticals, to expand its oligonucleotide drug business.
Merck KGaA, Agilent Technologies, LGC Biosearch Technologies, Eurofins Genomics, Eurogentec, GE Healthcare, Thermo Fisher Scientific, and Nitto Denko Avecia Inc. are the key players offering oligonucleotide synthesis.
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