Europe Oligonucleotide Synthesis Market

Europe Oligonucleotide Synthesis Market Size (2023-2028):

The Europe Oligonucleotide Synthesis Market is foreseen to have a compound annual growth rate of 14.4% in the outlook period between 2023 and 2028.

Drivers and Restraints of Europe Oligonucleotide Synthesis Market

Europe is a hub for various production industries and construction and the growth of the Oligonucleotide market is growing primarily because of the various research and development activities taking part in Europe. This growth in the industry can also be attributed to the growth in the healthcare sector. Initiatives such as the vaccine for children and the prevention of HIV/AIDS have contributed a lot. Synthesized oligonucleotides have various applications in the life sciences, pharmaceuticals, and probing of DNA synthesis and sequencing. Clinical trials involving humans are also becoming increasingly popular in the European region, and this triggered a demand for the Oligonucleotide industry.

The covid-19 pandemic has had a significant impact on the construction and production sectors in this area. All the activities have come to a halt. On top of this, the oligonucleotide synthesis process is very expensive. This cost ineffectiveness may likely be a factor that hinders growth.

The Europe Oligonucleotide Synthesis market has been segmented into the following categories:

On the basis of the Product:

• Primers

• Probes

• Linkers

• Adaptors

• Custom

• Reagent

• Equipment

On the basis of the Application:

• DNA

• PCR

• RNAi

• Research

• Therapeutics

On the basis of End Use industry:

• Biotechnology

• Pharmaceutical

• Academic

• Hospital and Lifesciences

Hospitals are accounted for the largest share of the Oligonucleotide Synthesis market.

They also contribute to the highest revenue generated compared to other end-user segments.

The synthesized oligonucleotide is growing rapidly because of its extensive applications in the life science industries, in addition to that, it finds its applications in therapeutics, genetics, and genomics in the field of research and diagnostics.

These synthetic products are also in high demand from academic and research institutes are more investments are being made in clinical trials. They are used as PCR primers and probes in DNA sequencing.

Geographical overview and regional presence:

In the European region, Germany has been investing a lot in the healthcare sector and because of it, the oligonucleotide industry saw significant benefits as clinical trials were increasing and diagnostics applications of the oligo saw a substantial increase.

Recent Developments:

• In February 2019, Thermo Fisher Scientific reached an agreement with BioNTech a German company, under the terms that BioNTech's messenger RNA (mRNA) manufacturing platform will be supported by Thermo Fisher through the supply of nucleotides, enzymes, and other critical raw materials

• Danaher completed the acquisition of IDT which expanded its courier service the following day to scientists in Cambridge, Oxford, and London. This service expansion will help IDT to increase its customer base, and also enable the starting, and ending of a project sooner.

Major Key Players:

1. Agilent Technologies, Inc.

2. Atdbio Ltd.

3. LGC Limited

4. Bio-Synthesis Inc.

5. Eurofins Genomics

6. Kaneka Eurogentec S.A.

7. General Electric

Impact of COVID-19 on the Europe Oligonucleotide Synthesis Market

Europe was the early hotspot for the COVID-19 pandemic and unlike other industries where businesses were shut due to low demand and lack of trading activities, the Oligonucleotide market saw a substantial increase in demand and production. This is majorly due to the fact that the life science and pharmaceutical industries saw a surge in demand during the period. On top of this, A lot of investments were made into research and development of the healthcare sector and vaccine. All this led to the growth of the Oligonucleotide industry during the pandemic and it is expected to last for the foreseeable future.