Oligonucleotide Synthesis Market 2030: Advancements in Sequencing Technologies

Oligonucleotide Synthesis Market Growth & Trends

The global oligonucleotide synthesis market size is projected to reach USD 8.53 billion by 2030, registering a CAGR of 13.21% from 2024 to 2030, according to a new report by Grand View Research, Inc. The strong pipeline of oligonucleotide therapeutics in clinical trials, advancements in gene editing technologies, and increasing R&D spending by biotechnology companies are some of the major factors driving the market growth.

Oligonucleotide therapeutics participants are present in the late stages of clinical trials and are expected to be approved & commercialized over the forecast period. Companies have increased investments to develop oligonucleotide-based therapeutics. In October 2023, GSK plc and Arrowhead Pharmaceuticals announced a contract with Janssen Pharmaceuticals, Inc. (Janssen), a Johnson & Johnson company, to assign GSK exclusive worldwide rights to develop and commercialize JNJ-3989. Janssen initially in-licensed JNJ-3989 (previously ARO-HBV) from Arrowhead in 2018. Similar initiatives by well-established pharmaceutical companies are anticipated to drive market growth over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Oligonucleotide Synthesis Market

Government bodies, such as the Centers for Medicaid & Medicare Services for labs, the Federal Trade Commission for marketing, and the FDA for kits & information, have played a key role in the success of genomics, as they have been involved in monitoring the safe, appropriate, and accurate application of genomics & genetic tests. International funding bodies, such as NIH and Wellcome Trust, are engaged in providing funds for genetic studies, which is expected to fuel genomic studies in developed and emerging economies.

In May 2021, the UK government announced a funding of USD 43.4 million (GBP 37 million) for genomics research and data-driven initiatives, delivered via the UK Functional Genomics Initiative and Genome UK Implementation Plan, which was started in September 2019. The Genome UK strategy will be implemented with the help of the Genomics England project, which will receive USD 19.9 million (GBP 17 million) to investigate the potential value of newborn sequencing.

Oligonucleotide Synthesis Market Report Highlights

Based on product & services, the service segment dominated the market with more than 37.0% share in 2023 owing to the growing demand for specialized services and increasing number of demands for outsourcing services
Based on application, the PCR primers segment held the largest market share in 2023. Their crucial role in amplifying specific DNA or RNA sequences makes them an essential component of the market
North America dominated the market owing to factors such as increasing the presence of key players, increasing demand for synthetic DNA & RNA sequences in various applications, and favorable regulatory scenario
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 & development as well as preclinical applications.

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Oligonucleotide Synthesis Market Segmentation

Grand View Research has segmented the global oligonucleotide synthesis market based on product & service, application, and region:

Oligonucleotide Synthesis Product & Service Outlook (Revenue, USD Billion, 2018 - 2030)