The market is estimated to grow with a CAGR of 13. 7% from 2019-2027. The growth of the oligonucleotide synthesis market is primarily attributed to the partnerships and collaborations undertaken by the market players as well as increasing venture capital investments in pharmaceutical and biotechnology companies.
New York, Jan. 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Oligonucleotide Synthesis Market to 2027 - Regional Analysis and Forecasts by Product, Application, End User" - https://www.reportlinker.com/p05828379/?utm_source=GNW
However, the growth of the market is restrained by factors such as frequently changing EU regulatory policies for biotechnology industry and European biotechnology sector lacks skilled professionals.
On the other hand, new product development and rising investments by pharmaceutical and biotechnology companies is likely to have a positive impact on the growth of the Europe Oligonucleotide Synthesis market in the coming years.
There are various start-up companies that are providing the products/services for the biological processes.Synthetic biology has numerous applications in the chemical, agriculture, pharmaceutical and energy sectors.
Companies such as, Ginkgo Bioworks works for the organism engineering, GenScript offers gene synthesis, Benchling which operates in CAD Tools, Transcriptis which is into bioinformatics operates for cloud labs/automation, Glowee offers consumer products, among the other companies operating in the synthetic biology.
Globally, the synthetic biology has set benchmark with its innovations and the dynamic results.Global leaders in biopharmaceutical industry are investing heavily in synthetic biology.
For instance, synthetic DNA manufacturer DNA Script has announced a Series A fundraising of 11 million euros ($13 million) led by Illumina Ventures, with additional investment from Merck Ventures BV, the corporate venture arm of Merck KGaA, plus existing investors Sofinnova Partners, Kurma Partners, and Idinvest Partners.
Furthermore, in July 2018, Evonetix Awarded Innovate UK Funding for £1.3 million ($1.75M) Gene Synthesis Project. Innovate UK, the UK’s innovation agency, will co-fund the £1.3 million project, which will be undertaken in collaboration with Durham University. Owing to the rising investment for the synthetic biology companies, the need and demand for the synthetic biology for the development of the new techniques may increase the market in the future years.
In 2018, the synthesized oligonucleotides segment held a largest market share of 48.2% of the oligonucleotide synthesis market, by product. This segment is also expected to dominate the market in 2027 owing to increasing use of the product in research and diagnostic purposes. The segment is also anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.
In 2018, the reagent segment held a largest market share of 45.2% of the oligonucleotide synthesis market, by application. This segment is also expected to dominate the market in 2027 owing to availability of funds as well as supportive government policies. The segment is also anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.
In 2018, the academic research institutes segment held a largest market share of 45.3% of the oligonucleotide synthesis market, by end user. This segment is also expected to dominate the market in 2027. However, the diagnostic laboratories segment is anticipated to witness the fastest growth rate of 12% during the forecast period. This higher growth rate of the segment can be attributed to the efficiency of oligonucleotides for diagnostic process.
Some of the major primary and secondary sources for western blotting included in the report are, Ludwig-Maximilians-Universität München (LMU), Technical University Munich (TUM), Association For Responsible Research And Innovation In Genome Editing (ARRIGE), Biotechnology And Biological Sciences Research Council (BBSRC), Genetically Modified Crops And Organisms (GMOs), Cancer Genomics And Advanced Therapeutics (C-CAT) and others.
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