Synthetic biology market Size in terms of revenue was Evaluted to be USD 7.54 Billion in 2019 and is expected to reach USD 34.51 Billion in 2026, growing at a CAGR of 21.9% from 2020 to 2026.
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The global synthetic biology market is expected to grow at a significant growth rate due to the number of driving factors.
Synthetic biology is a field of science which consists of redesigning of organisms for useful purposes with the help of engineering technique for making new abilities. It is the way of harnessing the power of nature to solve problems in medicine, manufacturing, and agriculture for researchers and companies around the world. Microorganisms harnessed for bioremediation to clean pollutants from water, soil, and air. It is used for designing and constructing new biological parts, devices, and systems as well as for re-designing of existing, natural biological systems for useful purposes. It has applications in various industries like diagnostics, cell reprogramming, therapeutics, enzymes, vaccines, biomaterials, biofuels, fine chemicals, and many more.
Scope of Synthetic Biology Market:
The study provides a crucial view of global synthetic biology market by segmenting the market based on products type, technology, application, and region & country level. Based upon type, the market is segmented into synthetic DNA, synthetic oligos, synthetic genes, software tools, chassis organisms, synthetic clones and synthetic cells. Based upon application, the market is segmented into pharmaceuticals & diagnostics, chemicals, biofuels, bioplastics and others. Based upon technology type, the market is segmented into nucleotide synthesis and sequencing, bioinformatics, microfluidics and genetic engineering.
The global synthetic biology market is expected to drive by the growing demand of synthetic biology in pharmaceutical and biotechnological companies for research and development purposes, government investment in science and technology for drug discovery and synthetic biological products and its applications in various industries. Synthetic biology is a multidisciplinary area of research that seeks to create new biological parts, devices, and systems, or to redesign systems that are already found in nature.
According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA); the pharmaceutical research-based industry has a expenditure of over USD 149.8 billion on R&D per year including the synthetic biology products. In 2015, there were 56 new pharmaceuticals products launched, out of more than 7,000 compounds in development including the synthesis of new bio-based products. However, the lack of predictability in biology, and current technical constraints may hamper the market growth. In spite of that, increasing focus on specialty medicines to create responsive and multifunctional materials with technological advancement using artificial intelligence, machine learning, big data for the clinical research on bio-systems modelling, chassis development, and genome mining as well as increasing the mergers, acquisitions and longer investment in better big data management may create more opportunities for the further growth of the global synthetic biology market during the upcoming period.
Prominent players of Global synthetic biology market:
The Top players in the synthetic biology market are Ginkgo Bioworks (US), Amyris, Inc. (US), Intrexon Corporation (US), GenScript Biotech Corporation (China), Cyrus Biotechnology Inc. (US), ATUM (US), Thermo Fisher Scientific Inc. (US), Twist Bioscience (US), Synthetic Genomics, Inc. (US), Codexis, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Novozymes A/S (Denmark), TeselaGen (US), Arzeda (US), Integrated DNA Technologies, Inc. (US), Synthego Corporation (US), Creative Enzymes (US), Eurofins Scientific (Luxembourg) and New England Biolabs (US).
Segmentation Analysis of Synthetic Biology Market:
- Synthetic Cells
- Gene Synthesis
- Tissue Regeneration
- Renewable Energy
- Food & Agriculture
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Geographically, the regional segment of global synthetic biology market report is dominated by North America by capturing the largest market of 42.77% in year 2019. The North America is expected to witness substantial growth over the forecast period owing to the high adoption of advanced research and development technology, surge in biopharmaceutical, and pharmaceutical companies for synthetic biological products as well as supportive government initiatives regarding synthetic biology in this region. According to National Centre for Biotechnology Information; the synthetic biology research & development investment by the U.S. government was valued USD 220 Billion annually with the funding from various departments in the U.S. including the Department of Energy, the National Science Foundation (NSF), the DoD (including DARPA), the National Institutes of Health (NIH), and the U.S. Department of Agriculture (USDA).
According to the DoD (Department of Defense) report analysis; the U.S. government has invested between 2008-2017 around USD 820 Billion in synthetic biology research, with DARPA funding was around USD 110 Billion in 2014. As the U.S. government has aim to “to create a revolutionary, biologically-based manufacturing platforms capabilities and manufacturing paradigms in new materials for the Nation. Additionally, For example; on August 18th, 2020; Codex DNA, Inc., makers of the world’s first fully automatic high-throughput DNA printing system, announced the launch of their next-generation platform, the BioXpTM 3250 system. By automatically executing the steps required synthesizing, combining, and cloning synthetic genes in a single overnight sprint, this scheme decreases the timelines for detecting vaccine and biologic drug candidates from weeks to days.
Asia Pacific is expected to be the fastest growing market due to the increasing prevalence of therapeutics, chronic diseases with raising the research on the biology synthesis for new synthesized bio products and rising in geriatric population. The growth for the synthetic biology market is more probable in the developing countries including India and China. According to the World Health Organization report; in high-income Asia-Pacific countries, the share of the population aged over 65 years is expected to double, to reach an average of 27.6% in 2050, whereas the share of population aged over 80 years is expected to triple to reach 10.2%. In upper-middle income and lower-middle low-income Asia-Pacific countries, the share of population over 65 and over 80 will be two and a half and four times the current share and reach 23.9% and 14.5% (over 65) and 7.9% and 3.5% (over 80) respectively.
On Special Synthetic Biology Market Report is also available for the below Regions and Countries:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
The Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of the market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are the main factors responsible for new product launches?
- How big are the global & regional markets in terms of revenue, sales, and production?
- How far will the market grow in the forecast period in terms of revenue, sales, and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
- Which region has more opportunities?
Key Benefits of Global Synthetic Biology Market Report:-
- Global Synthetic Biology Market report covers in-depth historical and forecasts analysis
- Global Synthetic Biology Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country levels.
- Global Synthetic Biology Market report helps to identify opportunities in the marketplace.
- Global Synthetic Biology Market report covers an extensive analysis of emerging trends and the competitive landscape.
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