Increasing Adoption by Small Enterprises Across Emerging Economies to Fuel Development of Oligonucleotide Synthesis Market, Finds Fact.MR
Fact.MR has published a latest research report about the overall market dynamics of the global oligonucleotide synthesis market. A substantial growth of the global market is expected, according to the research report, is expected to be achieved with an impressive CGAR of 11.3% over the course of the given forecast period of 2020 to 2025.
Depending upon the type of distribution channel, the global oligonucleotide synthesis market is mainly segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others. Due to considerable advancements in the diagnostics and research of the biotechnology sector, the oligonucleotide synthesis is expected to register considerable growth. During the course of the forecast period, the segment research institute will continue its dominance in the global oligonucleotide synthesis market.
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Market Players are Focusing More on Mergers and Acquisitions
In terms of competitive landscape, the global oligonucleotide synthesis market has an intensely contested one. There are several key players in the global oligonucleotide synthesis market such as DNA Technologies, BioAutomation, Applied Biosystems, GE Healthcare, and Thermo Fisher Scientific among others. The intense competition in the market is because of growing product innovation and adopting aggressive marketing strategies such as mergers and acquisitions. So as to attract more customers, the key market players are slashing prices and increasing their production capacities.
In terms of the geographical landscape, the global oligonucleotide synthesis market is divided into key regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these given geographical regions, the oligonucleotide synthesis market was previously dominated by the North America market. The region will continue to show steady growth during the course of the given forecast period.
However, the Asia Pacific region is expected to register maximum growth rate in the coming years. This region is projected to experience a massive CAGR of 12.5% over the course of the given forecast period of 2020 to 2025. Such high rate of growth is due to the presence of emerging economies such as China and India. Particularly, China is the key driving factor for the growth of the oligonucleotide synthesis market in Asia Pacific. China is increasingly adopting oligonucleotide synthesis across homes to small enterprises.
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Declining Sequencing Cost Driving Market Growth
The global oligonucleotide synthesis market has numerous factors that are influencing its positive growth during the course of the given forecast period. One of the major driving factor for the market development is the constant decline in the sequencing cost that is resulting in the customization of nucleotides for generating desired sequence. This desired sequence is then used for the research and development of new drugs. In addition to this, the increasing adoption of oligonucleotides in different forensic and testing applications across wide range of life sciences sectors is also fueling the growth of the global oligonucleotide synthesis market.
The oligonucleotide synthesis plays a major role in the several genetic research studies that are currently ongoing across the globe. Increasing investments and private funding for advances in the genetic research are also fueling the demand for custom synthesis and thus helping the oligonucleotide synthesis market to grow. Furthermore, several clinical trials are now getting approvals from the regulatory bodies across the globe and are leading to development of new customized drugs. This also helping the oligonucleotide synthesis market to grow at a rapid pace.
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