This study involved four major activities in estimating the current size of the oligonucleotide synthesis market. Exhaustive secondary research was conducted to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study. The secondary sources used for this study include annual reports, SEC filings, investor presentations, World Health Organization (WHO), Food and Drug Administration (FDA), National Center for Biotechnology Information (NCBI), Industry Association of Synthetic Biology (IASB), Biotechnology Innovation Organization (BIO), and Genome Canada. These sources were also used to obtain key information about major players, market classification, and segmentation according to industry trends, regional/country-level markets, market developments, and technology perspectives.
Primary Research
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify the critical qualitative and quantitative information and assess the prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is a breakdown of the primary respondents:
*Others include sales managers, marketing managers, and product managers.
Note: Tiers are defined based on a company’s total revenue. As of 2021, Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 <USD 500 million.
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the oligonucleotide synthesis market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
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The key players in the industry and market have been identified through extensive secondary research.
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The revenues generated from the oligonucleotide synthesis business of leading players have been determined through primary and secondary research.
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All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Oligonucleotide Synthesis Market Size: Sum of Research & Diagnostic Applications market and Therapeutic applications Market for oligonucleotide synthesis (A+B)
A: Research & Diagnostic Applications market for oligonucleotide synthesis
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B: Therapeutic applications Market for oligonucleotide synthesis
Top-down Approach-
Data Triangulation
After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Oligonucleotide synthesis refers to the chemical process of creating nucleic acid fragments with specific chemical structures or sequences of varying sizes to form a desired end product. These fragments, known as oligonucleotides, have a wide range of applications in medical and life science research. They can be used for DNA sequencing and amplification, detecting complementary DNA or RNA through hybridization, creating artificial genes, and introducing targeted genetic mutations.
Oligonucleotides are also used to develop therapeutic drugs. These drugs are produced chemically and have different mechanisms of action, such as interfering with gene expressions, blocking the production of harmful proteins, or restoring the function of mutated genes.
Key Stakeholders
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Pharmaceutical & biotechnology companies
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Hospitals
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Diagnostic laboratories
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Academic researchers and government research organizations
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Private research institutes
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Custom oligonucleotide service providers
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Contract manufacturing organizations (CMOs)
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Oligonucleotide equipment manufacturers
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Contract research organizations (CROs)
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Market research and consulting firms
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Venture capitalists
Report Objectives
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To define, describe, and forecast the global oligonucleotide synthesis market based on the product, application, end user, and region
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To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, challenges, and opportunities)
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To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall oligonucleotide synthesis market
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To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
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To forecast the size of the market segments with respect to six main regions, namely, North America, Europe, Asia Pacific, Latin America, Middle East and Africa
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To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
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To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the oligonucleotide synthesis market.
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To analyze and provide investment and funding activities, brand/product comparative analysis, and; vendor valuation and financial metrics of the oligonucleotide synthesis market.
Available Customizations
With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for this report:
Company Information
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An additional five company profiles
Growth opportunities and latent adjacency in Oligonucleotide Synthesis Market