The global oligonucleotide synthesis market was valued at USD 3.68 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 13.21% from 2024 to 2030. This growth can be attributed to a variety of factors, including the decreasing prices of sequencing technologies, which have made genetic testing, research, forensics applications, and drug development more accessible. As the cost of sequencing continues to decline, there is an increasing demand for custom-made nucleotides, which are essential for these applications. This trend has further accelerated the demand for oligonucleotide synthesis, which is a critical step in the production of these nucleotides.

The COVID-19 pandemic significantly impacted many industries, and the oligonucleotide synthesis market was no exception. The global health crisis led to a surge in the demand for efficient treatments and vaccines against COVID-19, which further increased the need for oligonucleotide-based technologies in the development of therapies and vaccines. Additionally, oligonucleotide therapeutics have gained significant attention due to their potential to treat a wide range of chronic conditions, including cardiovascular diseases, cancers, and retinal disorders. The versatility and effectiveness of oligonucleotides in these therapeutic areas have fueled their demand, particularly in precision medicine and molecular diagnostics.

Emerging applications of oligonucleotide synthesis in fields such as biotechnology are expected to contribute to continued market growth. The rise of gene-editing technologies, such as CRISPR and high-throughput sequencing, has simplified genetic screening and genome modification processes, making them more accessible for research and therapeutic applications. As a result, there has been an increased need for longer oligonucleotides with high precision and better yields to meet the requirements of these advanced techniques.

Manufacturers in the oligonucleotide synthesis industry are investing heavily in technology development to produce more efficient and precise oligonucleotides. This focus on technological advancements is expected to continue to drive the demand for custom oligos as the need for specialized applications in gene therapy and other biotechnological fields increases.

Another key factor contributing to the market’s expansion is the availability of a supportive regulatory environment. Many regions have updated their regulatory policies to foster the development of genomics and related fields. These policies aim to create a conducive environment for advanced biological research and applications in human medicine, which will likely increase the demand for oligonucleotide synthesis in the coming years. Fields such as stem cell research, regenerative medicine, genetic engineering, and synthetic biology have enormous potential for healthcare advancements and are expected to drive the market’s growth. For instance, the International Society for Stem Cell Research (ISSCR) has been actively working on resolving ethical and regulatory issues related to stem cell research by engaging experts in ethics, law, and social policy from around the world.

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

Regional Insights

North America:

North America accounted for the largest revenue share of 40.15% in 2023, primarily due to the high demand for oligonucleotides from numerous companies and research institutes. For example, in April 2021, DNAScript partnered with Moderna, supported by a USD 5 million grant from the U.S. Defense Advanced Research Projects Agency (DARPA). This collaboration was aimed at developing a prototype for the on-demand manufacturing of therapeutics and vaccines, a key component in the global nucleic acids on-demand program. The concentration of biotech companies and research institutions in North America, coupled with favorable policies and funding for genomic research, continues to drive the demand for oligonucleotides in the region.

Asia Pacific:

The Asia Pacific region is expected to experience the highest CAGR during the forecast period, from 2024 to 2030. This growth is primarily driven by the increasing interest of key players in the emerging markets of Asia Pacific. Companies are using strategies such as acquisitions, collaborations, and distribution agreements to expand their market share in the region. Countries like Japan, China, and India are witnessing several business initiatives that are helping to drive the growth of the oligonucleotide synthesis market. For example, in May 2023, GenScript Biotech Corporation expanded its primary manufacturing facility for oligonucleotide production in Jiangsu, China. This expansion is indicative of the growing demand for oligonucleotides in Asia Pacific, driven by the increasing adoption of biotechnological innovations and the rising need for custom oligonucleotide products in various applications.

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Key Companies Market Share Insights

The global oligonucleotide synthesis market is highly competitive, with several key players leading the market. Some of the prominent companies operating in the market include:

• Merck KGaA: A major player known for its extensive portfolio in biotechnology, Merck KGaA continues to enhance its presence in the oligonucleotide synthesis market through strategic investments in RD and technological advancements.
• Thermo Fisher Scientific, Inc.: A leading name in the scientific instruments and reagents space, Thermo Fisher has been active in expanding its offerings related to oligonucleotide synthesis. The company’s partnerships and product innovations, including advanced oligo production technologies, position it as a strong player in this market.
• Agilent Technologies: Known for its cutting-edge scientific equipment and chemical analysis tools, Agilent Technologies plays a significant role in the oligonucleotide synthesis market. The company’s focus on precision and high-quality synthesis technology contributes to its leadership in this space.

In addition to these established players, there are also emerging market participants making significant strides in the oligonucleotide synthesis space. These include:

• Twist Bioscience: A key innovator in the oligonucleotide synthesis market, Twist Bioscience is expanding rapidly through strategic collaborations and advancements in high-throughput DNA synthesis technology. The company is known for its cutting-edge approach to synthetic biology, which helps enhance the efficiency of oligonucleotide production.
• Biolegio: As a growing player in the market, Biolegio focuses on offering innovative oligonucleotide solutions, with a strong emphasis on customer-specific, custom-designed oligos. Their specialization in providing high-quality synthesis services helps them stand out in the competitive landscape.
• LGC Biosearch Technologies: Specializing in nucleic acid production and associated technologies, LGC Biosearch Technologies is gaining market share by focusing on expanding its service offerings and forming strategic partnerships. Their expertise in oligo synthesis supports a wide range of applications, from diagnostics to research.

These key players, along with the emerging market participants, are continuously focusing on strategic initiatives such as partnerships, collaborations, product launches, and geographic expansion to enhance their market positions and cater to the growing demand for oligonucleotide synthesis in various applications, including drug development, research, and molecular diagnostics. Their efforts to improve synthesis technologies and increase production capabilities are expected to contribute significantly to the overall market growth.

Key Oligonucleotide Synthesis 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

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