Oligonucleotide API Market Share

North American Market Forecast

The North American oligonucleotide API market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed majorly to the increased healthcare spending, along with the enhanced healthcare facilities anticipated to fuel the oligonucleotide API market in the region over the forecast period. A recent report from the Centers for Medicare & Medicaid Services revealed that approximately 19.7% of GDP in the United States was spent on healthcare services in 2020, amounting to USD 4.1 trillion in total. In addition to this, surging R&D investments in novel drug discovery and commercialization of oligonucleotide therapies are also expected to further drive the regional market during the forecast period.

Europe Market Forecast

Furthermore, the European oligonucleotide API market is also estimated to display lucrative market growth by the end of 2036. The growth of the market can be attributed to the escalating investment in research and development activities in the region, followed by the presence of major players in the region. For instance, the biopharma sector in Europe region raised around USD 21 billion investment in 2018, and this amount surged by nearly 26% to USD 28 billion in 2019. Moreover, the rising focus on the development of precision medicine for cancer is another significant factor that is projected to boost the market growth further throughout the forecast period in the region.