8 January 2019, The global Oligonucleotide Testing Market to reach USD 1,746.52 million by 2024, owing
to the increasing research and development activities in the field of
oligonucleotide. For instance, nowadays, multifunctional oligonucleotide based
aptamer molecules are widely studied biomedical class among scientists across
the globe. Due to its unique chemistry and potential advantages compared to
currently available drugs (i.e. antibodies), aptamer became one of the most
budding market for the future period.
With the rising concept of oligonucleotide as diagnostic, research and
therapeutic agent, it is noticed that companies investigating the potential of
oligonucleotide is going up. Number of small companies or start-ups entering
the market is continuously increasing due to its potential advantages. Over the
past few years, there has been explosive growth in number of research article
published in the area of oligonucleotide and its products.
According to the open access journal Multidisciplinary Digital
Publishing Institute (MDPI AG), in 1995, there were not more than 200 research
articles on aptamers. Compare to this, now it is around 1800 research
literatures published by scientist on aptamer assays or therapeutics. This
number indicates that companies focusing on the oligonucleotide drugs is rising
every year. This fact would in turn cause a surge in demand for oligonucleotide
testing services, augmenting growth. However, strict regulatory framework is
anticipated to hamper the market expansion to some extent.
Types segment is categorized into Instrument, Software, and Services.
Among which, instrument segment captured the largest share of the total market.
Introduction of technological advanced chromatographic columns coupled with
increasing demand for oligonucleotide synthesis drive the segment growth.
Instrument segment is further divided into liquid chromatography, mass
chromatography and capillary electrophoresis. In terms of application, the
market is segmented as research and commercial. Research segment capture the
largest share owing to the strong product pipeline.
In 2016, North America dominated the market contributing a share of more
than 40% in the revenue generated worldwide. The primary reason being the high
growth of this region, particularly in the U.S. is the rising research and
development activities on oligonucleotides. Asia pacific region was estimated
to be the fastest growing region in the global market and is anticipated to
grow at a CAGR of about 10.8% by 2024. The growing need for effective
therapeutics, rising awareness level, coupled with the favorable government
initiatives are expected to drive growth in this region.
Currently there are very less approved oligonucleotide drugs namely
fomivirsen (Vitravene), pegaptanib (Macugen), and mipomersen (Kynamro). Of
which mipomersen and fomivirsen acti through RNase H mediated cleavage of
targeted RNA. These drugs were developed by Ionis Pharmaceuticals. As the
number of drugs available in the market are less, the oligonucleotide pipeline
is strong and is expected to show positive response over the projection period.
Browse Details of Report @ https://www.hexaresearch.com/research-report/oligonucleotide-testing-market
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