The global Synthetic Biology Market size was USD 9.26 Billion in 2021 and is expected to register a revenue CAGR of 26.3% during the forecast period.
The global Synthetic Biology Market size was USD 9.26 Billion in 2021 and is expected to register a revenue CAGR of 26.3% during the forecast period. Rapid scientific and clinical advancements in the field of synthetic biology, increase in synthetic biology-based product innovations due to growing research and development (R&D) activities, and rising investments in synthetic biology-based research by companies are key factors driving market revenue growth.
Synthetic biology is a rapidly developing field that integrates engineering and scientific principles of standardization, modularity, and abstraction for designing and regulating living systems using engineering and scientific tools, thereby supporting various technical advancements in various industries, such as healthcare and energy. Manufacturers are investing in synthetic biology solutions to develop high-performance and sustainable solutions more efficiently. Synthetic biology helps in revolutionizing existing technologies, including biocomputing, electronic interfacing, multiplexed diagnostics, therapeutic genome editing, living therapeutics, and third-generation biorefineries, in a variety of fields. These factors are expected to drive revenue growth of synthetic biology market during the forecast period.
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Synthetic biology has a potential in DNA sequencing research and there is an expectation of improvement of bio-based chemicals, development of food crops and sources of green energy with the technology.
Increased amount of study data generation with dipping prices of DNA sequencing, rise in government funding and increase in demand for renewable energy such as biofuels, demand for genetically modified crops, advancement in molecular biology, and surging demand for effective vaccines and drugs are the key factors offering lucrative opportunities for the global synthetic biology market growth.
Key participants in the global synthetic biology market include:
Merck KGaA, Thermo Fisher, Novozymes, Eurofins Scientific, Inc., DNA2.0, Intrexon, Amyris, Pareto Biotechnologies, Agilent Technologies, GenScript, Ginkgo Bioworks, Synthetic Genomics, Integrated DNA Technologies, TeselaGen, Twist Bioscience, and New England Biolabs, among others.
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Further key findings from the report suggest
- The penetration rate is high due to its widespread use in R&D and commercialization than any other product segments.
- Based on product type, the synthetic oligos segment is expected to deliver a CAGR of 26.3% through 2030. The method is most preferred in modern laboratory practice as it offers accelerated and reasonable access to custom-made oligonucleotides of the desired sequence.
- The synthetic DNA product segment is expected to observe a CAGR of 19.0% during the forecast period.
- Based on technology, the genome engineering segment accounted for 22.6% of the global synthetic biology market share in 2020 and is expected to gain major traction through 2030. Advancements in DNA synthesis technologies, CRISPR-toolbox, the ongoing research activities, and growing need for cost-effective, rapid, multiplex alteration of genomes, are the key factors driving segmental growth.
- Based on application, the healthcare segment is expected to observe notable growth during the forecast period. Some of the possible application of synthetic biology in health and food include regenerative medicine, reprogramming of stem cells, new therapeutic methods, and efficient production of nutraceuticals like food supplements, preservatives, and vitamins.
- The pharmaceuticals and diagnostics segment is forecast to showcase at a CAGR of 26.3% during the forecast period.
- In the regional landscape, Europe accounted for 28.2% of the market share in 2020 and is estimated to make significant revenue contributions through 2030.
- North America accounted for 32.3% of the market share in 2020 and is expected to gain major traction owing to presence of key industry players, growing chronic diseases, and favorable reimbursement policies by the regional government.
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For the purpose of this study, Reports and Data has segmented the global Synthetic Biology Market on the basis of, Product, Technology, Application and region:
Technology Outlook (Revenue, USD Billion; 2019–2030)
- Nucleotide synthesis and sequencing
- Genome engineering
- Integrated systems
- Microfluidics
- Functional genomics
Tools Outlook (Revenue, USD Billion; 2019–2030)
- Synthetic DNA and Oligonucleotides
- Enzymes
- Synthetic Cells
- Chassis Organisms
- Xeno-nucleic Acids
Application Outlook (Revenue, USD Billion; 2019–2030)
- Medical & Healthcare Application
- Artificial Tissue & Tissue Regeneration
- Environment & Agriculture
- Bioprocess Industry
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Biotechnology & Pharmaceutical Companies
- Academic & Government Research Institutions
- Others
Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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