The global oligonucleotide synthesis market was estimated at USD 3.68 billion in 2023 and is projected to experience robust growth at a compound annual growth rate (CAGR) of 13.21% from 2024 to 2030. One of the primary drivers of this market growth is the declining cost of sequencing technologies, which has led to an increased demand for custom-made nucleotides. These nucleotides are vital for a variety of applications, including genetic testing, research, forensic investigations, and drug development. Additionally, the COVID-19 pandemic has had a significant impact across all markets, resulting in a surge in the demand for effective treatments against the virus, which has further intensified the need for oligonucleotide synthesis.

Oligonucleotide therapeutics are emerging as promising solutions for treating chronic conditions, such as cardiovascular diseases, various types of cancer, and retinal disorders. As research and technology in the field advance, new applications for oligo sequences are being developed across multiple domains of biotechnology, which is expected to substantially enhance market growth. Furthermore, the demand for molecular diagnostics—particularly in the realm of precision medicine—represents a significant emerging application area for oligonucleotide synthesis.

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Product & Service Segmentation Insights

Within the market, the services segment accounted for the largest share at 37.35% in 2023 and is anticipated to witness the fastest growth during the forecast period. This growth is driven by factors such as the increasing utilization of molecular diagnostic tests and the rising adoption of oligonucleotide therapeutics. Key players in the industry are actively expanding their offerings by entering new markets or acquiring service providers across different regions, further fueling market growth.

For example, in November 2023, Twist Bioscience, a company known for its expertise in synthetic biology and genomics, launched a novel gene synthesis service called Express Genes. This service boasts an expedited turnaround time of just 5 to 7 business days and is conducted at the company’s manufacturing facility in Wilsonville, Oregon. This swift production capability enables researchers and developers to obtain genes quickly, thereby supporting a variety of applications in research and therapeutic development.

The oligonucleotide segment itself is expected to grow at a significant CAGR during the forecast period, largely due to the increasing focus on genomic studies, including gene expression analysis and genetic testing. The introduction of biochips, or DNA chips, which facilitate the parallel analysis of multiple clinical samples, is also anticipated to make a considerable contribution to the market's revenue. The growing use of antisense oligonucleotides in clinical trials targeting conditions such as cancer, cardiovascular disorders, and ocular dysfunctions is expected to drive lucrative growth in this segment.

Moreover, heightened awareness and understanding of genetic disorders are contributing to the increasing demand for oligonucleotides in both diagnostics and potential therapeutic interventions. For instance, in August 2023, UC San Diego launched a Gene Therapy Initiative aimed at developing innovative treatments for rare diseases, a project made possible by a generous USD 5 million donation from the Nancy and Geoffrey Stack Foundation. Such initiatives underscore the expanding role of oligonucleotide synthesis in advancing medical research and treatment options.

Overall, the oligonucleotide synthesis market is positioned for substantial growth, driven by technological advancements, increasing applications in various fields of healthcare and biotechnology, and the growing focus on precision medicine. As researchers and clinicians continue to explore the potential of oligonucleotides, the market is likely to see continued innovation and expansion in the coming years.

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