Oligonucleotide Synthesis Market (By Product & Service: Oligonucleotides, Equipment/Synthesizer; By Application: PCR Primers, PCR Assays & Panels) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

Oligonucleotide Synthesis Market Size and Growth

The global oligonucleotide synthesis market size was estimated at around USD 3.71 billion in 2023 and it is projected to hit around USD 12.88 billion by 2033, growing at a CAGR of 13.25% from 2024 to 2033.

Key Pointers

• North America dominated the global market with the largest market share of 41% in 2023.
• Asia Pacific region is projected to experience the highest compound annual growth rate (CAGR) from 2024 to 2033.
• By Product & Service, the services segment held the largest revenue share of 38% in 2023.
• By Product & Service, the oligonucleotide segment is expected to expand at the highest CAGR during the forecast period.
• By Application, the PCR primers segment captured the maximum market share in 2023.
• By Application, the sequencing segment is estimated to expand the fastest CAGR from 2024 to 2033.

Oligonucleotide Synthesis Market Overview

The oligonucleotide synthesis market is witnessing robust growth propelled by the expanding scope of applications spanning molecular diagnostics, therapeutics, synthetic biology, and research. With the advent of precision medicine and personalized therapies, the demand for tailor-made oligonucleotides continues to surge, driving market expansion.

Oligonucleotide Synthesis Market Growth Factors

The growth of the oligonucleotide synthesis market is driven by an advancements in next-generation sequencing (NGS) technologies have propelled the demand for customized synthetic DNA and RNA molecules, particularly in genomics and transcriptomics research. Secondly, the expanding applications of oligonucleotides in therapeutic areas, such as antisense oligonucleotides and RNA interference (RNAi) therapies, are driving market growth. Additionally, the increasing adoption of oligonucleotides in drug discovery and development, for target validation and drug delivery purposes, further contributes to market expansion. Moreover, the rising trend towards precision medicine and personalized therapies is fueling the demand for tailor-made oligonucleotides, stimulating market growth. Overall, these growth factors collectively contribute to the flourishing landscape of the oligonucleotide synthesis market.

U.S. Oligonucleotide Synthesis Market Size 2024 to 2033

The U.S. oligonucleotide synthesis market was estimated at USD 1.06 billion in 2023 and it is expected to surpass around USD 3.69 billion by 2033, poised to grow at a CAGR of 13.28% from 2024 to 2033.

In 2023, North America emerged as the dominant force in the global market, commanding a revenue share of 41%. This substantial share is primarily attributed to numerous companies and research institutes driving significant demand for oligonucleotides. An illustrative example is the collaboration between DNAScript and Moderna, coupled with a USD 5 million grant from the U.S. Defense Advanced Research Projects Agency in April 2021. This collaboration aimed to develop a prototype for the robust manufacturing of therapeutics and vaccines as part of the global nucleic acids on-demand program.

Meanwhile, the Asia Pacific region is projected to experience the highest compound annual growth rate (CAGR) during the period spanning 2024 to 2033. This growth trajectory is fueled by the increasing interest of key market players in capitalizing on emerging markets to maximize profits. To enhance their market share and revenue generation, players in the region are adopting strategies such as acquisitions, collaborations, and distribution agreements. Moreover, countries like Japan, China, and India are witnessing a surge in business initiatives within the oligonucleotide synthesis market, further propelling regional market growth. For instance, in May 2023, GenScript Biotech Corporation expanded its primary manufacturing facility for oligonucleotide production in Jiangsu, China, signaling a strategic move aimed at bolstering its presence in the Asia Pacific marke

Oligonucleotide Synthesis Market Trends:

• Growing Demand for Customized Oligonucleotides: There is a rising need for tailor-made oligonucleotides with specific sequences and modifications to meet the diverse requirements of applications such as diagnostics, therapeutics, and research.
• Expansion of Therapeutic Applications: The development of oligonucleotide-based therapeutics, including antisense oligonucleotides, siRNAs, and aptamers, is gaining traction, driven by their potential in treating various genetic disorders and cancers.
• Advent of CRISPR/Cas Gene Editing Technology: The emergence of CRISPR/Cas gene editing technology has revolutionized genome engineering, creating new opportunities for the synthesis of CRISPR guide RNAs and other oligonucleotide-based tools.
• Focus on Sustainable and Environmentally Friendly Synthesis Methods: There is a growing emphasis on developing environmentally sustainable synthesis methods, including enzymatic and bio-based approaches, to minimize chemical waste and energy consumption in oligonucleotide production processes.
• Increasing Outsourcing of Oligonucleotide Synthesis Services: Biopharmaceutical companies and research institutions are increasingly outsourcing oligonucleotide synthesis services to specialized contract manufacturing organizations (CMOs) to leverage their expertise, infrastructure, and cost-effectiveness

Oligonucleotide Synthesis Market Restraints:

• High Manufacturing Costs: The oligonucleotide synthesis process involves sophisticated equipment and reagents, leading to high production costs. This factor limits market accessibility, particularly for small-scale research institutions and academic laboratories with constrained budgets.
• Stringent Regulatory Requirements: Oligonucleotide-based therapeutics are subject to stringent regulatory scrutiny due to concerns regarding safety, efficacy, and off-target effects. Compliance with regulatory guidelines, including Good Manufacturing Practice (GMP) standards, poses significant challenges for market players, delaying product development timelines and increasing operational costs.
• Complexity of Synthesis Processes: Oligonucleotide synthesis involves intricate chemical reactions and purification steps, leading to complexities in process optimization and scalability. Achieving high yields, purity, and sequence fidelity often requires specialized expertise and resources, hindering market growth, especially for novel modifications and complex sequences.
• Limited Market Penetration in Developing Regions: The oligonucleotide synthesis market is predominantly concentrated in developed regions, such as North America and Europe, due to the presence of established biotechnology and pharmaceutical industries. Limited infrastructure, technical expertise, and regulatory frameworks in developing regions constrain market expansion, impeding access to oligonucleotide-based technologies and products.
• Concerns Regarding Product Quality and Stability: Ensuring the quality, stability, and reproducibility of synthesized oligonucleotides is crucial for their successful application in research and therapeutic settings. Variability in synthesis processes, batch-to-batch inconsistencies, and issues related to product degradation and shelf-life pose challenges, impacting market adoption and customer confidence.

Product & Service Insights

The services segment took the lead in the market, capturing the largest share of 38% in 2023 and is poised for rapid growth throughout the forecast period. Factors such as the expanding utilization of molecular diagnostic tests and increased adoption of oligonucleotide therapeutics are set to fuel market expansion. Furthermore, major players are diversifying their offerings by venturing into new markets or acquiring service providers across different regions.

For instance, in November 2023, Twist Bioscience, a company specializing in synthetic biology and genomics, launched Express Genes, an innovative gene synthesis service boasting a swift turnaround time of 5 to 7 business days. Conducted at the company's manufacturing facility in Wilsonville, Oregon, this service facilitates prompt gene production.

The oligonucleotide segment is expected to exhibit substantial growth at a significant compound annual growth rate (CAGR) during the forecast period. This growth is attributed to the surge in genomic studies such as gene expression analysis and genetic testing. Additionally, the introduction of biochips (DNA chips) for parallel analysis of numerous clinical samples is projected to make a significant contribution to market revenue. With the increasing utilization of antisense oligonucleotides in clinical trials targeting conditions like cancer, cardiac disorders, and ocular dysfunctions, the segment is poised for lucrative growth in the near future.

Application Insights

The PCR primers segment emerged as the leader in 2023, holding the largest market share. PCR primers represent the most extensively utilized oligonucleotide in PCR applications. They comprise sequences complementary to the 5’ end of the targeted sequence and play crucial roles in sequencing or amplification processes. The adoption of primers for gene sequencing experiments is on the rise, driven by their utilization in fluorescent detection and target amplification, resulting in diverse primer designs featuring various probe- and primer-based detection chemistries. With continuous technological advancements, PCR has undergone evolution, giving rise to methodologies such as RT-PCR, qPCR, and digital PCR. PCR assays and panels are tailored for detecting and quantifying gene expression, thereby necessitating primers suited to the requirements of these advanced systems to ensure precise gene expression quantification, thereby driving market growth.

Meanwhile, the sequencing segment is poised to witness the highest compound annual growth rate (CAGR) during the forecast period. Sequencing applications play pivotal roles in studying various facets of genomics and genetics, involving the analysis of genetic materials like DNA and RNA to gain insights into the genetic composition and function of organisms. Sequencing holds significant importance in identifying and monitoring pathogens, particularly crucial for emerging viruses and antibiotic-resistant bacteria, necessitating rapid and accurate pathogen detection via oligonucleotide-based assays. The market growth is further fueled by advancements in sequencing technologies and bioinformatics tools. For instance, in January 2023, QIAGEN completed the acquisition of Verogen, a specialist in NGS technologies, in a transaction valued at USD 150 million. QIAGEN intends to integrate Verogen's technologies and expertise into its existing operations, indicating a strategic move towards bolstering its presence in the sequencing market.

Oligonucleotide Synthesis Market Key Companies

• Thermo Fisher Scientific, Inc.
• Merck KGaA
• Danaher Corporation
• Dharmacon Inc.
• Agilent Technologies
• Bio-synthesis
• Kaneka Eurogentec S.A
• LGC Biosearch Technologies
• Biolegio
• Twist Bioscience

Recent Developments

• In May 2023, GenScript expanded its life sciences facility in Zhenjiang, Jiangsu, China, to offer a rapid, high-purity oligonucleotide and peptide synthesis service tailored for research and development as well as preclinical applications.
• Also in May 2023, Twist Bioscience and CeGaT GmbH introduced the Twist Alliance CeGaT RNA Fusion Panel. This joint endeavor aims to provide a specialized tool for oncology research, facilitating the detection of RNA fusions and enabling transcript variant analysis. RNA fusions, often observed in cancers due to chromosomal rearrangements, can now be efficiently studied using this newly introduced panel.
• In February 2023, Fluor Corp. and Agilent Technologies, Inc. collaborated to enhance their oligonucleotide therapeutics manufacturing facility in Frederick, Colorado. Under this partnership, Fluor is expected to provide support for engineering and procurement for the project. The total value of the project is estimated at USD 725 million.

Oligonucleotide Synthesis Market Segmentation:

By Product & Service

• Oligonucleotides
  • DNA
    • Column-based
    • Array-based
• RNA
  • By Technology
    • Column-based
    • Array-based
  • By Type
    • Short RNA Oligos (<65 nt)
    • Long RNA Oligos (>65 nt)
    • CRISPR (sgRNA)
• Equipment/Synthesizer
• Reagents
• Services
  • DNA
    • Custom Oligo Synthesis Services
      • 25 nmol
      • 50 nmol
      • 200 nmol
      • 1000 nmol
      • 10000 nmol
    • Modification Services
    • Purification Services
  • RNA
    • Custom Oligo Synthesis Services
      • 25 nmol
      • 100 nmol
      • 1000 nmol
      • 10000 nmol
    • Modification Services
    • Purification Services

By Application

• PCR Primers
  • Academic Research Institutes
  • Diagnostic Laboratories
  • Pharmaceutical - Biotechnology Companies
• PCR Assays & Panels
  • Academic Research Institutes
  • Diagnostic Laboratories
  • Pharmaceutical - Biotechnology Companies
• Sequencing
  • Academic Research Institutes
  • Diagnostic Laboratories
  • Pharmaceutical - Biotechnology Companies
• DNA Microarrays
  • Academic Research Institutes
  • Diagnostic Laboratories
  • Pharmaceutical - Biotechnology Companies
• Fluorescence In Situ Hybridization (FISH)
  • Academic Research Institutes
  • Diagnostic Laboratories
  • Pharmaceutical - Biotechnology Companies
• Antisense Oligonucleotides
  • Academic Research Institutes
  • Diagnostic Laboratories
  • Pharmaceutical - Biotechnology Companies
• Other Applications

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)