May 18, 2024
Phosphoramidite Market

Global Phosphoramidite Market is Estimated to Witness High Growth Owing to Advancements in DNA Sequencing Technologies

Phosphoramidites are organic compounds that serve as building blocks for synthesizing strands of DNA or RNA polymers. They are commonly used to build synthetic oligonucleotides or sequences of nucleic acids via automated solid-phase oligonucleotide synthesis.

Phosphoramidites find wide applications in DNA sequencing, DNA cloning, and molecular diagnostics due to their ability to efficiently synthesize arbitrary or custom sequences of nucleic acids. The Global Phosphoramidite Market Size is driven by the rising demand for high throughput and cost-effective DNA sequencing techniques from pharmaceutical and biotechnology companies.

The Global Phosphoramidite Market is estimated to be valued at US$ 1,011.3 MN in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Phosphoramidite Market are Glen Research, ChemGenes Corporation, Link Technologies Ltd., BioAutomation Corporation, Merck KGaA, Sigma-Aldrich (now part of MilliporeSigma, a Merck Group company), LGC Biosearch Technologies, Thermo Fisher Scientific, Biosynthesis Inc., ATDBio Ltd., Genscript Biotech Corporation, Expedeon AG, Wuxi Donglin Sci & Tech Development Co., Ltd., Bio-Synthesis Inc., and ChemGenes Corporation.

The key opportunities in the market include increasing research funding for personalized medicine and growing number of genome projects worldwide. Growing demand for phosphoramidites from pharmaceutical companies for large-scale DNA sequencing during drug development also presents growth opportunities for players in the market.

Technological advancements such as automated solid-phase oligonucleotide synthesizers has enabled high throughput and cost-effective production of phosphoramidites. Next generation sequencing technologies such as nanopore sequencing which requires long reads of DNA/RNA also drives the demand for phosphoramidites.

Market Drivers

The global Phosphoramidite Market is driven by the significant increase in genome projects worldwide. For instance, the Human Genome Project and more recently the Cancer Genome Atlas Project have boosted the demand for phosphoramidites. Growing investments from government and private entities in genomics research also fuel the market growth. In addition, increasing demand for DNA/RNA sequencing from pharmaceutical companies during drug development acts as a key growth driver for the Phosphoramidite Market.

Current challenges in the Global Phosphoramidite Market

The Global Phosphoramidite Market is facing some challenges which need to be addressed for sustaining the market growth over the forecast period. One of the key challenges is rise in the prices of raw materials. Phosphoramidites are derived from chemicals like phosphorus, which are scarce and witness price fluctuations frequently. This increases the production cost for manufacturers. Secondly, strict government regulations around the use of chemicals is also a hindering factor. Since phosphoramidites are used in DNA synthesis and sequencing, they fall under heavy scrutiny. Adhering to changing standards requires extra investment and resources. Thirdly, developing alternative technologies poses a threat. New DNA synthesis techniques are emerging which do not rely on phosphoramidites. This can potentially reduce their demand in the long run. Lastly, the market is highly consolidated with few global players dominating. This creates dependency issues for end users.

SWOT Analysis
Strength: Wide applications in DNA sequencing, oligonucleotide synthesis, microarrays and genomic research. Offers high purity and selectivity.
Weakness: Raw material price volatility increases production cost. Regulations around chemical usage add compliance burden.
Opportunity: Growing R&D investments in genomics and biotechnology will fuel demand. Emerging markets like China and India present scope for expansion.
Threats: Threat from alternative DNA synthesis technologies. Intense competition from dominant global players.

Geographical regions concentrated in terms of value

North America dominates the global Phosphoramidite Market in terms of value, with a share of over 35% attributed to extensive R&D spending on genomics and DNA sequencing technologies by research institutions in the US. Europe is the second largest regional market supported by presence of leading players and advanced research infrastructure across countries. Asia Pacific is projected to be the fastest growing region during the forecast period owing to rising government initiatives for biomedical innovation and expanding outsourcing activities from pharmaceutical companies to China and India.

Fastest growing geographical region

Asia Pacific region is poised to exhibit the highest growth in the global Phosphoramidite Market over the next decade. Countries like China, Japan and India are witnessing heavy investments from governments as well as private sector to build genomics capabilities. For instance, China aims to sequence 20,000 human genomes by 2022. India also launched the ‘Magna Carta for Genomics’ to enhance indigenous technologies. Moreover, lowering material and production costs are attracting outsourcing from big pharmaceutical firms to the APAC region. This rapid development of biotechnology infrastructure and growing foreign collaboration initiatives are expected to substantially drive the demand for phosphoramidites from 2024 to 2031, making APAC the fastest expanding regional market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it