Oligonucleotide Synthesis Market Size, Share, Growth Analysis, By Product(Oligonucleotide-based Drugs (Antisense Oligonucleotide-based drug, siRNA oligonucleotide-based drug, Other oligonucleotide-based drug), Synthesized Oligonucleotides (Primers), By Application(Therapeutic Applications (Disease Type (Neurological Disorders, Rare Diseases, Other Diseases)), Research Applications (PCR), By End User(Hospitals, Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, CROs and CMOs), By Region - Industry Forecast 2024-2031

Global Oligonucleotide Synthesis Market size was valued at around USD 6 billion in 2022 and is expected to rise from USD 7.3 billion in 2023 to reach a value of USD 26.3 billion by 2031, at a CAGR of 17.4% over the forecast period (2024–2031).

Rapidly increasing prevalence of chronic diseases around the world and high investments in medical R&D are projected to primarily propel the demand for oligonucleotide synthesis. The growing popularity of precision and personalized medicine is also expected to generate new business for oligonucleotide synthesis providers in the future. Increasing acceptance of gene therapies for the treatment of various indications and expanding application scope for oligonucleotides in multiple healthcare verticals will also create new opportunities for oligonucleotide synthesis companies. Moreover, advancements in synthesis technologies and the rising use of nucleic acid-based therapeutics are also anticipated to drive oligonucleotide synthesis market growth potential over the coming years. Robust spending on healthcare research in the North American region allows it to become the dominant market for oligonucleotide synthesis companies around the world. On the contrary, high costs of synthesis, complex regulatory framework, ethical concerns regarding gene therapies, and limited manufacturing capacity are some major constraints that slow down oligonucleotide synthesis demand.