The global oligonucleotide synthesis market is booming, projected to grow from $8.8 billion in 2024 to a staggering $19.7 billion by 2029 at a compound annual growth rate (CAGR) of 17.5%. This meteoric rise is fueled by several key drivers and emerging opportunities in the industry.
A major catalyst is the increasing use of synthesized oligonucleotides in therapeutic and diagnostic applications. Oligonucleotide-based drugs hold immense potential for treating a wide range of neurological and rare diseases, leading to a surge in regulatory approvals. Additionally, oligonucleotides play a crucial role in genetic testing, molecular diagnostics, microarrays, and gene therapy, driving demand for accurate and sensitive detection and quantification tools.
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While the market is thriving, it faces challenges, such as complexities associated with controlling oligonucleotide length and minimizing impurities during synthesis, as well as waste management concerns.
Emerging economies in Asia Pacific and Latin America present attractive opportunities for market expansion, with major players like Merck KGaA and Insud Pharma S.L.U. investing in production facilities in China and India, respectively.
However, the industry grapples with the challenge of delivering oligonucleotide drugs to specific targets, as intravenous delivery methods often fail to reach the intended tissue in adequate quantities. Researchers are developing novel solutions, such as positively charged cell-penetrating peptides, to improve cell penetration and drug availability.
The oligonucleotide synthesis market ecosystem comprises supply-side entities, including manufacturers and suppliers, and demand-side entities, such as hospitals, pharmaceutical and biotechnology companies, diagnostic labs, contract research organizations (CROs), and academic research institutes.
In 2023, the oligonucleotide-based drugs segment held the largest market share, driven by the increasing approval of antisense oligonucleotides and small interference RNA for treating neurological and rare diseases. The therapeutic application segment also dominated the market, fueled by the growing need for highly specific and effective drugs, as well as the focus on personalized/precision medicine.
Geographically, North America emerged as the largest regional market in 2023, owing to substantial investments in life sciences and healthcare research and development, as well as the presence of major industry players like Danaher Corporation, Thermo Fisher Scientific Inc., and Maravai Lifesciences Holdings, Inc.
Key players in the oligonucleotide synthesis market include Danaher Corporation, Thermo Fisher Scientific Inc., Merck KGaA, Eurofins Scientific, LGC Limited, Agilent Technologies, Inc., Kaneka Corporation, Maravai Lifesciences Holdings, Inc., Azenta, Inc., Twist Bioscience Corporation, and Genscript Biotech Corporation. Prominent players in the oligonucleotide-based drugs segment include Biogen Inc., Alnylam Pharmaceuticals, Inc., Sarepta Therapeutics, Inc., Astrazeneca, Astellas Pharma Inc., Jazz Pharmaceuticals Plc, Nippon Shinyaku, Co. Ltd., Ionis Pharmaceuticals, Inc., and Novartis AG.
Recent developments in the industry include LGC Limited’s acquisition of PolyDesign to enhance its oligonucleotide synthesis capabilities and Danaher Corporation’s subsidiary, Integrated DNA Technologies (IDT), opening a therapeutic oligonucleotide manufacturing facility in Coralville, Iowa.
