asia pacific oligonucleotide synthesis Market

The Asia Pacific oligonucleotide synthesis market is expected to reach US$ 872.98 Mn in 2027 from US$ 334.26 Mn in 2018. The market is estimated to grow with a CAGR of 14.7% from 2019-2027.

The growth of the oligonucleotide synthesis market is primarily attributed to the growing use of synthesized oligonucleotides and government support for biotechnology research in Asia Pacific. However, dearth of skilled professional is likely to pose a negative impact on the market growth.

The rising awareness about wide range of applications of oligonucleotide synthesis has led government to fund research activities. Department of Biotechnology (DBT), New Delhi and Council of Scientific and Industrial Research (CSIR), New Delhi are working towards funding activities related to oligonucleotide synthesis. Oligonucleotides has tremendous potential application in treating wide range of medical conditions. They enable the development of therapeutics as the malfunctioning genes can be targeted, manipulated, silenced and/or modulated. In 2017, GeneDesign, Inc. established a new production facility for development of oligonucleotide drug substance in Osaka, Japan.

In 2018, the synthesized oligonucleotides segment held the most significant market share of the oligonucleotide synthesis market, by product. This segment is also anticipated to dominate the market in 2027 owing to increasing use of the product in research and diagnostic purposes. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2018 to 2027.
In 2018, the research segment held a most significant market share of the oligonucleotide synthesis market, by application. This segment is also estimated to dominate the market in 2027 owing to the availability of funds as well as supportive government policies. Also, the segment is also anticipated to witness growth at a significant rate during the forecast period, 2018 to 2027.
In 2018, the academic research institutes segment held the most significant market share of the oligonucleotide synthesis market, by end user. This segment is also projected to dominate the market in 2027 due to rise in government funding for research institutes. However, the diagnostic laboratories segment is anticipated to witness growth at a significant rate during the forecast period, 2018 to 2027, due to the efficiency of oligonucleotides for diagnostic process.

Some of the major primary and secondary sources for oligonucleotide synthesis included in the report are, Department Of Biotechnology, National Cancer Center Japan, New Delhi and Council of Scientific and Industrial Research (CSIR),  and among others.