Increasing Use of Synthesized Oligonucleotides in Molecular Diagnostics and Clinical Applications

The market is mainly driven by factors such as rising demand for synthesized oligonucleotides due to the growing field of molecular diagnostics, increasing government investments to develop genomic technologies, rising venture capital investments, increasing demand for synthetic genes, and increasing R&D expenditure in pharmaceutical and biotechnological companies.

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The Oligonucleotide Synthesis Market  is expected to reach USD 2.20 Billion by 2021 from USD 1.33 Billion in 2016, at a CAGR of 10.6% from 2016 to 2021.

Key market players :

Agilent Technologies Inc. (U.S.), Bioautomation Corporation (U.S.), L.G.C Biosearch Technologies (U.S.), Eurofins Genomics (Germany), Eurogentec S.A (Belgium), GE Healthcare (U.S.), Integrated DNA Technologies (IDT) (U.S.), Nitto Denko Avecia Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), and Sigma-Aldrich Corporation (U.S.) (part of Merck KGaA (Germany)).

Market Geography :

The global market is dominated by North America, followed by Europe, Asia-Pacific, Latin America, Middle East and Africa. The market in Asia-Pacific is expected to grow at a highest CAGR during the forecast period. Factors such as the growing availability of synthesized oligos, along with an increase in R&D funding and activities in the APAC region contribute to the growth of this oligonucleotide synthesis in Asia-Pacific region. Furthermore, the increasing focus of prominent players on APAC is another factor driving the growth of this market.

About Market :

On the basis of application the Oligonucleotide Synthesis Market  is further segmented into research, diagnostic and therapeutics. Research segment is expected to account for the largest share of Oligonucleotide Synthesis Market  in 2016. Diagnostic segment is expected to grow at the highest CAGR during the forecast period.

The growth of this segment is mainly attributed to the emerging application of molecular diagnostics (MDx) and genetic testing. The increasing use of technologies such as DNA microarrays in the analysis of biological samples and developing molecular oncology diagnostics tests also contribute in the growth of molecular diagnostics market.

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