Synthetic Biology Market Size to Surpass US$ 40.97 Billion by 2030

According to Vision Research Reports, the Synthetic Biology market size is expected to surpass around US$ 40.97 billion by 2030 from valued at US$ 10.88 billion in 2020 and growing at a CAGR of 21.8% from 2021 to 2030.

Growth Factors

Extensive applications of synthetic biology in multiple fields are a major impact rendering driver of the market. For instance, the technique is used for the development of biofuel from microorganisms in the bioenergy field.

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Several market participants have produced materials and textiles with the use of synthetic biology. Bolt Threads, a material developing company that produced engineered spider silk ties, and Colorifix are developing dyes with biological systems. In addition, the market has provided the agriculture industry with alternative fertilizer options, which are not harmful. For instance, Pivot Bio, a California-based company, has established a technique of fertilizing crops without relying on a harmful polluting chemical process. Extending clinical applications of synthetic biology, the potential of the technique to accelerate drug development, and enhancing market competition are some key aspects driving the industry. The COVID-19 pandemic is set to drive applications and investments in this space.

Report Coverage

Report Scope	Details
Market Size	US$ 40.97 billion by 2030
Growth Rate	CAGR of 21.8% From 2021 to 2030
Base Year	2021
Forecast Period	2021 to 2030
Segments Covered	Technology, Product, Application, End use
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned	Bota Biosciences; Codexis, Inc.; Creative Biogene; Creative Enzymes; EnBiotix, Inc.; Eurofins Scientific; Illumina; Merck (Sigma Aldrich); New England Biolabs; Novozymes; Pareto Biotechnologies, Inc.; Scarab Genomics; Synthego; Synthetic Genomics; Thermo Fisher

 

By Product Analysis

Oligonucleotide/oligo pools and synthetic DNA were the largest revenue-generating product segment in 2020 and accounted for a revenue share of more than 35% in the same year. 

The segment is anticipated to expand further growing at the fastest CAGR over the forecast period. The ability to design custom DNA oligos for experiments has created ample opportunities in the fields, such as molecular and synthetic biology.

Companies, such as Integrated DNA Technologies, Life Technologies, Operon, and Eurofins, are providing custom primer services. Furthermore, the decreasing cost of synthesis and rising demand for synthetic DNA, RNA, and genes that are used in various applications contribute to the segment’s growth.

The enzymes segment is also expected to register a significant CAGR over the forecast period. Companies are focusing on the efficient, cost-effective, and eco-friendly production of enzymes.

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By Technology Analysis

The PCR technology segment accounted for the largest revenue share of more than 28% in 2020 due to the high usage of this technology as it is fast, convenient, easily reproducible, extremely specific, and highly sensitive. 

PCR cloning is applied to gene cloning, DNA recombination, and gene quantification in synthetic biology workflows. Syno 2.0 platform offered by Synbio Technologies can efficiently clone target genes without relying on the restriction enzyme sites. 

An increase in R&D for the development and launch of reagents also drives segment growth. In June 2021, a group of researchers from the U.S., U.K., and Ghana developed cellular reagents, which can substitute enzymes in molecular biology, diagnostic reactions, and common synthetic biology processes including qPCR and PCR.

The NGS technology segment is expected to register the fastest CAGR during the forecast period. The ability of NGS to synthesize DNA sequences from the start, along with new technologies, such as CRISPR/Cas9, is enabling the targeted introduction of DNA sequences into living cells. 

By Application Analysis

The healthcare application segment accounted for the largest revenue share of more than 77% in 2020. Synthetic biology has offered significant advancements in the scale and scope of biopharmaceutical drug development. 

Diagnostics based on synthetic biology provide a real-time, specific & sensitive, and noninvasive process for detecting cancer cells, infectious agents, and therapeutics. Researchers use rational engineering approaches to make novel biosensing systems that are dynamic and constituted of a sensor, processor, and reporter. 

Bio-fuels is the largest revenue-generating, non-healthcare application. Synthetic biology has created the possible way for the fourth generation of biofuels. Researchers are involved in developing alternative biofuel molecules as these are expected to have the potential to reduce Greenhouse Gas (GHG) emissions. 

By End-use Analysis

The biotechnology and pharmaceutical companies segment dominated the market with a revenue share of more than 51% in 2020. Synthetic biology has helped biotechnology and pharmaceutical companies to develop novel drugs, which can treat chronic conditions.

Various companies have used synthetic biology to engineer pathways that enable microorganisms to produce medically relevant drugs. For instance, Amyris Inc. engineered yeast strains to develop the antimalarial drug Artemenisin. Moreover, synthetic biology can also improve in-vitro drug production.

Technological advancements in this field further stimulate the growth of the market. Computational protein design develops proteins from scratch and makes calculated variants of protein design and variants of protein structure. Scientists can create innovative enzymes that are not common to nature.

By Regional Analysis

North America accounted for the largest revenue share of over 40% in 2020 due to the increased investments for the development of synthetic biology products, favorable regulations, and government assistance. 

Rising support from the U.S. government & private institutions and increasing research and development investments in drug discovery and development are expected to propel the market growth over the forecast years. 

Key Players

• Bota Biosciences
• Codexis, Inc.
• Creative Biogene
• Creative Enzymes
• EnBiotix, Inc.
• Eurofins Scientific
• Illumina
• Merck (Sigma Aldrich)
• New England Biolabs
• Novozymes
• Pareto Biotechnologies, Inc.
• Scarab Genomics
• Synthego
• Synthetic Genomics
• Thermo Fisher

Market Segmentation

• By Product 
  • Oligonucleotide/Oligo pools and Synthetic DNA
  • Enzymes
  • Cloning Technologies Kits
  • Xeno-nucleic Acids
  • Chassis Organism
• By Technology 
  • NGS
  • PCR
  • Genome Editing
  • Bioprocessing Technology
  • Others
• By Application 
  • Healthcare
    • Clinical
      • Bio/Pharmaceuticals
      • Diagnostics
    • Non-Clinical/Research
  • Non-Healthcare
    • Biotech Crops
    • Specialty Chemicals
    • Bio-Fuels
    • Others
• By End-use 
  • Biotechnology & Pharmaceutical Companies
  • Academic & Government Research Institutes
  • Others
• Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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