Oligonucleotide Pool Market Increasing Rapidly: Covid-19 Impacts, Industry Opportunity, Analysis and Forecast
Oligonucleotide pool allows the precise design and synthesis of thousands of user-defined sequences in parallel which can be utilized in high-throughput screening experiments for identification of novel gene mutations, optimization of protein structure, and function, or for drug discovery. Oligonucleotide pool is used in various research applications for designing and synthesizing of genes.
The synthesizing of the oligonucleotide pool has significantly advanced scientific research, diagnostic development, and drug discovery. This, as a result, is driving the global oligonucleotide pool market. Moreover, advantages of oligonucleotide pool such as low-cost, fast analysis methods with precisely high accuracy are allowing its market to garner phenomenal traction on the global platform.
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Considering the exponential traction, the market perceives currently Market Research Future (MRFR) in its recently published study report asserts that the global oligonucleotide pool market will reach USD 2.32 BN by 2022, registering approximately 8.5% CAGR throughout the forecast period (2018 – 2022).
Oligonucleotide Pool Market - Segmentation
MRFR has segmented its analysis into four key dynamics for enhanced understanding.
By Type : DNA Pool and RNA Pool among others.
By Application : Research, Diagnostics, and Therapeutics among others.
By End-user : Commercial Research and Pure Academic Research among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Global Oligonucleotide Pool Market - Regional Analysis
The North American region dominates the global oligonucleotide pool market owing to the presence of leading global players and encouraging governmental support for the research & development activities in healthcare. Moreover, factors such as the increased uptake of advanced technologies and high healthcare expenditures encourage market growth. The market is further expected to grow at 8.6% CAGR from 2018 -2022.
The oligonucleotide pool market in the US backed by the increasing demand for tests of gene functions, majorly contributes to the growth of the regional market. Heading with the rising demand, the region is expected to create a larger revenue pocket, globally, by 2022.
The European oligonucleotide pool market accounts for the second-largest market. Factors facilitating the growth of the regional market include the recent technological advancements and their huge uptake in the medical sector. Also, the rising healthcare expenditure is expected to foster market growth in the region. Besides, support and funding programmes from public & private organizations for research & development positively impacts the growth of the regional market. As a result, the European oligonucleotide pool market is expected to grow at 8.7% CAGR from 2018-2022.
The oligonucleotide pool market in the Asia Pacific region is emerging as a profitable market, heading with enormous contributions from some of the Asian countries such as South Korea, China, Japan, and India. With the rising demand for gene tests and increasing adoption of these techniques in various procedures, APAC market is expected to register a CAGR of 9.2% during the forecast period.
Global Oligonucleotide Pool Market - Competitive Analysis
The fiercely competitive oligonucleotide pool market appears to be fragmented with many well-established as well as small players and new entrants forming the competitive edge. New technology launch, brand reinforcement, and innovation remain the prevailing trends of the key players. The growth statistics of the market indicate towards the probable heights the market can reach further.
Some of the players leading the global oligonucleotide pool market include Creative Biogene, Agilent Technologies, CustomArray, Inc., MYcroarray, Integrated DNA Technologies, Inc., Sigma Aldrich, Twist Bioscience, and TriLink BioTechnologies among others.
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