Oligonucleotide Library Market Size, Share, Growth, And Industry Analysis By Type (12K different oligonucleotides per pool and 90,000 different oligonucleotides per pool) By Application (Target capture, CRISPR/Cas9 design, Gene synthesis, Library preparation, and other) and Regional Forecast to 2027

Updated On: 22 April 2024

oligonucleotide library market Report Overview

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The global oligonucleotide library market size was USD 407.5 million in 2021 and is expected to reach USD 591.34 million by 2027, exhibiting a CAGR of 6.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the Oligonucleotide library market growth and demand returning to pre-pandemic levels once the pandemic is over.

The market has grown significantly in recent years due to genomics and personalized medicine developments. The use of oligonucleotide libraries, which are collections of short DNA or RNA sequences, ranges from drug discovery to target recognition to gene expression profiling. These collections offer scientists access to a wealth of genomic data that will hasten the creation of novel treatments and diagnostic tools.

A wide variety of sequences are included in randomized oligonucleotide libraries, enabling researchers to examine a variety of genetic variants. These libraries are frequently used in drug development and target identification, where the objective is to find compounds that can block particular biological processes or bind specifically to specific targets. Nucleotide sequence locations are regularly changed to build combinatorial oligonucleotide libraries. With the help of this method, huge libraries containing millions or even billions of distinct sequences can be produced. In molecular biology, combinatorial libraries are frequently utilized for tasks including DNA sequencing, protein engineering, and gene synthesis. Degenerate oligonucleotide libraries are made to include nucleotide mixes at particular places along the sequence. Utilizing all feasible nucleotide combinations at a specific place, this method enables examining a broad spectrum of genetic variants. In protein engineering, where the objective is to find amino acid substitutions that enhance protein stability or function, degenerate libraries are frequently utilized.

COVID-19 Impact: Urgent Need For Diagnostic Tests, Vaccines, And Therapeutics Accelerated The Market Growth

The COVID-19 pandemic has significantly impacted this market. On the one hand, the pressing need for medicines, vaccines, and diagnostics has raised the need for it. The need for these libraries is fueled by the necessity of oligonucleotides in PCR-based diagnostic tests and RNA-based vaccinations. On the other hand, the manufacture and delivery of oligonucleotide libraries have been impacted by the pandemic's disruption of worldwide supply chains and logistical difficulties. The implementation of lockdown measures by several nations has led to the shutdown of manufacturing facilities and transit restrictions, delaying the supply of goods. Additionally, the pandemic's economic effects have reduced research funding, which could immediately affect the market.

Latest Trends

"Development Of High-Throughput Sequencing Technologies Boosts Market Expansion"

High-throughput sequencing methods are one of the newest industry trends for oligonucleotide libraries. Using these tools, scientists can quickly analyze huge oligonucleotide libraries, enabling quicker and more effective screening of prospective drug candidates or genetic variations. Genomics has revolutionized due to high-throughput sequencing, which has also greatly sped up the search for new therapeutic targets. Incorporating artificial intelligence (AI) and machine learning (ML) techniques in library construction and analysis is another new trend in this market. Large datasets can be analyzed by AI and ML algorithms to find patterns or links that may not be obvious to human researchers. This can help to improve screening effectiveness, optimize library designs, and raise the overall success rate of drug discovery initiatives.

oligonucleotide library market Segmentation

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• By Type Analysis

The Oligonucleotide library market can be segmented into 12K different oligonucleotides per pool and 90,000 different oligonucleotides per pool.

Among these, 12K different oligonucleotides per pool is projected to experience rapid growth through 2028.

• By Application Analysis

The market can be divided based on application into target capture, CRISPR/CAS9 design, gene synthesis, library preparation, and other.

Target capture is expected to hold the most Oligonucleotide library market in the upcoming years.

Driving Factors

"Increasing Demand for Personalized Medicine to Propel Market Expansion"

The rising emphasis on personalized medicine is driving the demand for oligonucleotide libraries. Personalized medicine aims to modify medical procedures by a patient's genetic profile, enabling more precise and successful therapy. To find genetic variations that can be utilized to create individualized treatments and diagnostics, oligonucleotide libraries are essential.

"Rising Investments in Genomics Research to Fuel Market Growth"

This market has grown due to the rising investments in genomics research. To better understand the genetic causes of diseases and create cutting-edge treatments, governments, academic institutions, and pharmaceutical corporations are making significant investments in genomics research. These are crucial tools in genomics research to study the immense terrain of genetic data and derive new insights.

Restraining Factor

"High Cost, Regulatory Challenges, And Intellectual Property Issues to Hinder Market Growth"

A major obstacle to the widespread use of oligonucleotide libraries can be their high price. High-quality libraries can be produced through costly synthesis and purification procedures, making them inaccessible to researchers on tight budgets. To meet this problem, efforts are being made to create efficient manufacturing processes and affordable synthesis techniques. The regulatory environment for oligonucleotide libraries is intricate and dynamic. Stringent regulatory permissions are necessary for using oligonucleotides in medicinal applications, which can be expensive and time-consuming. To assure compliance and quicken product development, businesses competing in this industry must properly negotiate the regulatory environment. Intellectual property (IP) rights are extremely important in the market.

oligonucleotide library market Regional Insights

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"North America to Dominate Market Due To Increasing Demand for Personalized Medicine"

North America holds the Oligonucleotide library market share, and factors driving the market growth in this region include increasing demand for personalized medicine. The increasing focus on personalized medicine is boosting demand, which is crucial in identifying genetic variations for tailoring individualized treatments and diagnostics based on a patient's genetic profile.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Roche NimbleGen (Switzerland)
• Genscript (China)
• Agilent (U.S.)
• Integrated DNA Technologies (U.S.)
• Nitto Denko Avecia Inc (U.S.)
• Beijing Cypress Gene Technology Co., Ltd. (China)
• Twist Bioscience (U.S.)
• Eurofins Genomics (Luxembourg)
• L.G.C Biosearch Technologies (U.K.)
• Illumina (U.S.)
• Sigma-Aldrich (U.S.)
• ThermoFisher (U.S.)
• Creative Biogene (U.S.)
• General Biosystems (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.