Market Research Report
North America Oligonucleotide Synthesis Market to 2027 - Regional Analysis and Forecasts by Product, Application, End User
|Published by||The Insight Partners||Product code||916907|
|Published||Content info||134 Pages
Delivery time: 1-2 business days
|North America Oligonucleotide Synthesis Market to 2027 - Regional Analysis and Forecasts by Product, Application, End User|
|Published: October 31, 2019||Content info: 134 Pages||
The North America oligonucleotide Synthesis market is expected to reach US$ $ 1,541.03 Mn in 2027 from US$ 609.90 Mn in 2018. The market is estimated to grow with a CAGR of 11.2% from 2019-2027.
The growth of the oligonucleotide Synthesis market is primarily attributed to the rising investments in the development of pharmaceutical and biotechnology companies. However, the growth of the market is restrained by factors such as renewed regulations for biotechnology and lack of skilled professionals in life science industry. On the other hand, rising investments by pharmaceutical and biotechnology companies is likely to have a positive impact on the growth of the North America Oligonucleotide Synthesis market in the coming years.
Advancement in the field of biotechnology has equally enhanced the synthetic biology. Many industry players have come up with innovative types of synthetic biology in last few years. Synthetic biology is a multidisciplinary approach that use various tools and techniques of biotechnology to alter the biological systems. The techniques such as cloning, gene sequencing, genome engineering has results into the generation of genetically modified organisms. The advancement in the synthetic biology has led to the faster and easier design of DNA, and helped exponentially reducing the cost of DNA sequencing and synthesis.
For instance, Twist Bioscience has developed Oligo pools, high diversity collections of oligonucleotides, are utilized in many applications, including generation of CRISPR guide RNA (sgRNA) libraries and high-throughput reporter assays. It offers precise editing of target loci as it enables highly accurate synthesis for specific targeting and the error rate is very low around 1:1000 nt. The company's low synthesis error rate and uniform sequence representation result in high quality custom oligo libraries that enable the most efficient CRISPR screens.
In 2016, according to an annual industry growth update published by SynBioBeta, a leading community of investors, entrepreneurs, and others, more than US$ 1 Bn was invested in synthetic biology by various companies in the US and worldwide. Additionally, according a report by National Center for Biotechnology Information (NCBI), US government offers approximately US$220 million every year toward synthetic biology research and development. Moreover, Defense Advanced Research Projects Agency (DARPA) also offers funds for research in synthetic biology funding. For instance, DARPA has invested nearly US$110 million for synthetic biology in 2014.
In 2018, the synthesized oligonucleotides segment held a largest market share of 48.5% of the oligonucleotide synthesis market, by product. This segment is also expected to dominate the market in 2027 owing to increasing use of the product in research and diagnostic purposes. The segment is also anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.
In 2018, the academic research institutes segment held a largest market share of 45.4% of the oligonucleotide synthesis market, by end user. This segment is also expected to dominate the market in 2027. However, the diagnostic laboratories segment is anticipated to witness the fastest growth rate of 12.3% during the forecast period. This higher growth rate of the segment can be attributed to the efficiency of oligonucleotides for diagnostic process.
In 2018, the reagent segment held a largest market share of 45.4% of the oligonucleotide synthesis market, by application. This segment is also expected to dominate the market in 2027 owing to availability of funds as well as supportive government policies. The segment is also anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.
Some of the major primary and secondary sources for western blotting included in the report are, Centers for Disease Control and Prevention (CDC), Canadian Institutes of Health Research (CIHR), Association for Responsible Research and Innovation in Genome Editing (ARRIGE), Biotechnology and Biological Sciences Research Council (BBSRC), Genetically Modified Crops and Organisms (GMOs), Cancer Genomics and Advanced Therapeutics (C-CAT) and others.
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