The worldwide [URL=https://www.psmarketresearch.com/market-analysis/oligonucleotide-synthesis-market]oligonucleotide synthesis market[/URL] is growing due to favorable government policies, increasing prevalence of infectious diseases and cancer, advancements in synthesis technology, and ongoing research in synthetic biology. Valued at $1.5 billion in 2017, the domain is predicted to progress with a 10.8% CAGR during the forecast period 2018–2023, ultimately generating $2.8 billion in revenue by 2023. By definition, oligonucleotide synthesis is the artificial creation of oligonucleotides, which are short DNA or RNA fragments.On the basis of offering, reagents and consumables, synthesized oligonucleotides, and equipment are the three market categories. Among these, synthesized oligonucleotides held the largest revenue share (76.3%) in 2017 and is also predicted to grow the fastest during the forecast period, at an 11.1% CAGR. The increase in contract manufacturing of DNAs and RNAs is expected to escalate the demand for synthesized oligonucleotides. Similarly, when segmented by application, the oligonucleotide synthesis market can be categorized into diagnostics, research, and therapeutics.
Pre-Purchase Inquiry at: [URL]https://www.psmarketresearch.com/send-enquiry?enquiry-url=oligonucleotide-synthesis-market[/URL]
Among all, the research category led the market in 2017 and is expected to be the fastest growing (11.1% CAGR) category. This pays credence to the finding that of all the end users of synthetic oligonucleotides, including diagnostic laboratories, pharmaceutical and biotechnology companies, academic research institutes, and others, academic research institutes dominated the oligonucleotide synthesis market in 2017 with 40.4% revenue share. This further substantiates the fact that increasing research activities in the field is one of the key growth drivers of the market.
Hence, it is clear that the increase in research and development in the synthetic biology field will further the market advance.