LONDON--(BUSINESS WIRE)--The global oligonucleotide synthesis market is expected to post a CAGR over 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increasing research activities in the pharmaceutical and biotechnology sectors is expected to boost the growth of the oligonucleotide synthesis market during the forecast period. The increasing prevalence of chronic and life-threatening diseases have prompted pharmaceutical companies and research firms to focus on R&D activities for the development of effective therapeutics. As a result, advances in life sciences research is leading to an improved understanding of biological systems. The development of oligonucleotide synthesis technologies has helped pharmaceutical and biotechnology researchers with molecular-level development, design, and modification of biological systems.
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As per Technavio, the increasing focus on R&D of new oligonucleotide therapies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Oligonucleotide Synthesis Market: Increasing Focus on R&D of New Oligonucleotide Therapies
Although oligonucleotide therapeutics has been in the development for the last three decades, only a limited number of drugs have been approved till date. However, pharmaceutical and biotechnology companies are increasingly focusing on the R&D of new oligonucleotide drugs due to their potential to treat many diseases that are untreatable by conventional therapies. Moreover, continuous advances in science and technology have helped overcome the challenges related to the administration, cellular uptake, biodistribution, and adverse side effects of oligonucleotide therapeutics. Thus, the increasing focus on R&D of new oligonucleotide therapies will drive oligonucleotide synthesis market growth during the forecast period.
“Apart from the increasing focus on R&D of new oligonucleotide therapies, other factors such as the strategic collaborations and partnerships, and the rise in demand for low-cost and high-throughput oligonucleotide synthesis will have a significant impact on the growth of the oligonucleotide synthesis market during the forecast period,” says a senior analyst at Technavio.
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Global Oligonucleotide Synthesis Market: Segmentation Analysis
This market research report segments the global oligonucleotide synthesis market by end-user (pharmaceutical and biotechnology companies, research and academic institutes, diagnostic laboratories, and hospitals) and by region (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. The growth of the oligonucleotide synthesis market share in North America is attributed to factors such as the growing approval of novel therapies and the commercial availability of these treatments in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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