Gene Synthesis Market Worth US$ 107,797.82 million by 2025 Global Analysis and Forecasts By Products & Services
The Gene synthesis market was valued at US$ 3,991.23 million in 2017 and it is projected to reach US$ 107,797.82 million by 2025; it is expected to grow at a CAGR of 28.7% from 2017 to 2025.
This research report provides insights on the global gene synthesis market. Gene synthesis is a technique of synthetic biology which is used to create artificial genes in the laboratory. The method works based on solid-phase DNA synthesis, it differs from molecular cloning and polymerase chain reaction (PCR). Gene synthesis is used for molecular cloning, creating fusion proteins, or achieving sufficiently high protein expression levels. Compared to traditional molecular cloning techniques, the gene synthesis service is helpful in saving both time and money while offering unparalleled top to bottom customizability. Factors driving this market are increase in investments & funds for gene synthesis, rising numbers of start-up companies and technological advancements are key drivers for the growth of the market. However, factors such as lack of skilled professionals and long approval processes are likely to restrain the market growth to a certain extent.
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Key Findings from The Gene synthesis Market
- The services segment held the major market share among the products & services segments. In 2017, the services segment held a largest market share of 51.1% of the gene synthesis market, by products & services.
- This segment is also expected to dominate the market in 2025 owing to analysis and data management solutions, service partnerships and financial solutions. Furthermore, the services segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
- The research & developmental activities segment is expected to dominate the market based on application. Research & developmental activities segment is anticipated to grow at a CAGR of 30.9% during the forecast period. The R&D helps to build variant libraries, genes, operons, increase the function of proteins, and to test the particular gene is expected to boost the demand for breast implants in the coming years.
- The academic & research institutes segment is likely to dominate the market, by end user. In 2017, the academic & research institutes segment held a largest market share of 45.5% of the gene synthesis market, by technology. This segment is also expected to dominate the market in 2025. However, the biotechnology & pharmaceutical companies segment is anticipated to witness the fastest growth rate of 30.1% during the forecast period, 2018 to 2025. This higher growth rate of the segment owing to the increasing government funding and partnerships between the various organizations in all the regions
- Eurofins Scientific, Thermo Fisher Scientific Inc., GenScript. Other market players include BIONEER CORPORATION., Integrated DNA Technologies, Inc., ATUM, Twist Bioscience, BioCat GmbH, OriGene Technologies, Inc. and GENEWIZ. are among the leading companies operating in the Gene synthesis in healthcare market.
The Gene synthesis in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Growing Applications of Gene synthesis in Healthcare to Drive Gene synthesis in Healthcare Market Growth
Gene synthesis is mostly accepted tool in fields of recombinant DNA technology, which includes recombinant protein production. For instance, in July 2018, Innovate UK, the UK’s innovation agency, funded approximately US$ 1.76 million (£1.3 million) project, Evonetix Ltd, (UK) that will be in partnership with Durham University. The funds will be used for the development of a new enzymatic approach to DNA synthesis. Moreover, in April 2018, DNA Script received approximately US$5.5 million in grant funds from the European Commission and Bpifrance (French investment bank). The technology platform, and other related resources are helping the company to accelerate the development of the gene synthesis. Companies have also increased their research and development funds for the enhancement of the gene synthesis. Additionally, in 2016, Twist Bioscience raised its revenue with US$ 61 million for the scale-up and commercial operation of the silicon chip-based high throughput low-cost gene synthesis platform.
Globally, the gene synthesis has set benchmark with its innovations and the dynamic results. The industry has attracted various global leaders to invest for gene synthesis. For instance, in November 2017, Bolt Threads raised US$123 million in Series D funding that was led by Ballie Gifford along with the others such as, aforementioned Formation 8, Founders Fund, Fidelity Management, Research Company and Temasek. Allen & Company LLC. Bolt Threads also announced in TechCrunch that it has added to the amount for Series D round to sum up the amount of US$213 million. Additionally, in 2015, Zymergen received US$44 million funds from investors such as Transcript, AME Cloud Ventures, Data Collective, Draper Fisher Jurvetson, HVF, Innovation Endeavors, Obvious ventures, True Ventures and Two Sigma Ventures.
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