GLOBAL PHOSPHORAMIDITE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Phosphoramidite Market, By Product Type (DMT-protected Phosphoramidites, Acid-protected Phosphoramidites, Amidite Building Blocks, DNA/RNA Phosphoramidite), By Application (DNA/RNA Sequencing, Gene Expression Analysis, Genetic Testing, Drug Discovery), By End User (Biotechnology Companies, Pharmaceutical Companies, Academic and Research Institutes), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Feb 2024
Code : CMI6616
Pages :180
Formats :
Excel and PDF
Industry : Biotechnology

Global Phosphoramidite Market Size and Trends

The global phosphoramidite market was valued US$ 1,011.3 Mn in 2023 and is expected to reach US$ 1,780.3 Mn by 2031 growing at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031.

Global Phosphoramidite Market - Trends

Growing demand for oligonucleotides in molecular diagnostics and therapeutics: The growing demand for oligonucleotides in molecular diagnostics and therapeutics is having a major influence on the phosphoramidite market. Oligonucleotides are short single-stranded sequences of RNA or DNA that are used in various applications like molecular diagnostics, research, therapeutics, etc. They act as primers, probes, linkers, and adaptors and are essential components in techniques like polymerase chain reaction (PCR), DNA sequencing, hybridization assays, and microarrays. As the use of oligonucleotides continues to grow exponentially in areas like liquid biopsy testing, DNA sequencing, gene therapy and genetic disease treatment, the need for phosphoramidites that are used to synthesize oligonucleotides has also increased substantially. Phosphoramidites are the key monomers used in the solid phase synthesis of oligonucleotides through the phosphoramidite method. According to the National Human Genome Research Institute (NHGRI) data in 2021, which is part of the National Institutes of Health (NIH), over 30 million exomes and 10,000 genomes have been sequenced since 2009. This has resulted in significant rise in sequencing projects worldwide that rely on oligonucleotides.
Advancements in combinatorial DNA synthesis: Combinatorial DNA synthesis refers to the automated synthesis of multiple DNA sequences simultaneously. This is disrupting the phosphoramidite market in significant ways. Through combinatorial DNA synthesis, researchers can now rapidly synthesize entire gene libraries with thousands of variant genes at relatively low costs. This has enabled applications like directed evolution for rapid vaccine and therapeutic protein design that were not feasible before. Companies are exploiting this to quickly screen large numbers of genetic variants to develop novel biologics against different diseases.