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 differs from conventional genetic engineering, in terms of complexities of organisms or systems, generated by researchers. Individual genes are transferred from one microbe or cell to another in genetic engineering but synthetic biology involves the assembly of new microbial genomic sequences from a set of standardized genetic elements that are put into a microbe or cell in synthetic biology. Synthetic biology aims to program cells by building genetic circuit designs to reconfigure endogenous gene-regulatory systems, repair cellular defects, and regulate morphological characteristics. Synthetic genomics combined with new manufacturing methods for DNA sequences have allowed scientists to develop genetic materials that were previously impossible to create using traditional biotechnological procedures. Several commercially available synthetic biological products were developed as replacements for existing high-value products, particularly products that are manufactured using non-renewable raw materials. Synthetic alternatives and substitutes for naturally generated chemicals are also used in research and development activities. Synthetic biology is evolving into a design framework in which the design-build-test-iterate (or deploy) method is utilized for manufacturing cells or biological living systems. Use of biological living systems and cells helps in producing a wide range of novel chemicals, materials, and cells for a variety of uses. In addition, significant cost cuts in DNA sequencing and synthesis, introduction of powerful genome editing tools such as CRISPR/Cas9, and advancements in informatics and computational tools to simplify as well as scale analysis and design are factors continue to contribute toward advancements in synthetic biology. These factors are expected to drive market revenue growth.
Driver: Development of gene-editing technology and preference for bioproducts among companies are key factors driving market revenue growth
Development of precision gene-editing technology, bioengineering techniques, computational biology including multifaceted genomics, data analysis, and Artificial Intelligence (AI), and genome engineering technology helps in overcoming technical and cognitive bottleneck challenges encountered by recent synthetic biology technologies. European Commission has classified genome editing technologies, such as (CRISPR)/Cas9 system and Transcription activator-like effector nucleases (TALENs), as synbio tools. Companies are being able to provide advanced synthetic biology-based products and applications due to advancements in genome editing techniques, such as CRISPR/Cas9, and developments in informatics and computational tools used for simplifying, scaling analysis, and designing. Key manufacturers are focusing on developing advanced synthetic gene circuits with intricate gene circuits, such as oscillators, counters, and pattern-detectors, among other synthetic biology discoveries that offer novel treatment techniques. Synthetic biology techniques have already been used for engineering the metabolism of microbes for the production of industrially essential compounds and creating human cells to cure medical conditions. It also has the potential to speed up the discovery and development of new secondary metabolites from microbes using standard, engineered, and combinatorial biosynthesis methods. These factors are expected to drive revenue growth of the market during the forecast period.
Companies and product manufacturers, ranging from small start-ups to major pharmaceutical firms, are using synthetic biology to develop novel innovative products and manufacturing techniques that are used across sectors.
- On 14 September 2022, Bayer AG is developing nitrogen-fixing bacteria that can be applied to seeds, potentially lowering the use of chemical fertilizers. Leaps by Bayer, the investment group of Bayer AG, announced a Series-A investment with Cavallo Ventures. The investment was worth USD 15 million in the agriculture and biotechnology startup, Andes.
- On 20 August 2021, Lululemon Athletica, the athletic clothing company, is also collaborating with Genomatica, a biotechnology start-up, to transition from petrochemical-based nylon to bio-built textiles.
- On 12 November 2018, Impossible Foods Inc., a startup that offers plant-based meat products and substitutes, uses synthetic biology to manufacture plant-based burgers.
- On 18 February 2022, Bridgestone Corporation established a cooperative program for the development of chemical recycling technologies that employ used tires to generate high-yield production of isoprene, a basic material for synthetic rubber synthesis.
Restraint: Potential biosafety, biosecurity, and ethical issues related to unintended or deliberate misuse of synthetic biology techniques are factors restraining market revenue growth
Deliberate or unintended discharge of synthetic organisms into the environment during experiments and other operations is a major biosafety risk while using synthetic biology technique as synthetic microbes and bacteria can evolve and integrate with other organisms, leading to environmental contamination. Synthetic organisms can also interbreed with native species, causing ecosystem disruption or emergence of antibiotic-resistant superbugs. In addition, synthetic biology engineers face challenges beyond the obstacles addressed in typical engineering domains. For instance, evolution causes DNA mutations that can potentially ruin engineered functions of the cell or living systems. These engineered functions are programmed using synthetic biology techniques. Synthetic cell replication in the environment could be dangerous if living systems or cells interact with other creatures of the ecosystem in unanticipated ways. Furthermore, synthetic biology raises ethical concerns These factors are expected to hamper market revenue growth during the forecast period.
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COVID-19 Analysis:
Full-length SARS-CoV-2 synthetic genomes were made available due to advancements in synthetic biology. Synthetic genomes are highly accurate representations of original virus and can be utilized as a potentially limitless source of virus without the need for continuously duplicating clinical samples. Accessibility to synthetic genome enables the research community to examine the virus and contribute scientific findings comparatively faster than clinical samples of the virus, which are uncommon and difficult to obtain. In addition, synthetic biology techniques help improve research studies and production of vaccines, medicines, and diagnostic tools by employing engineering methodologies. These engineering methodologies are founded on the basis of biological sequence data and information, such as bioinformatical analysis of sequence annotations, metabolic pathways, and scientific knowledge. Vaccine technologies, such as DNA and mRNA, can make vaccine production easier. These factors are expected to drive market revenue growth, particularly during COVID-19 pandemic. Several scientists are collaborating with synthetic biology engineers to automate their new synthesis methods. Researchers are using benchtop instruments that perform fully automated DNA synthesis for libraries, fragments, and clones, as well as mRNA synthesis. For example, the BioXp system allows construction, cloning, amplification, and biosynthesis of several complicated vector constructs in a single overnight cycle. The contribution of several synthetic biology solutions to contain COVID-19 virus, including mRNA vaccine production, have been possible by using BioXp technology, which has been adopted in various research laboratories worldwide.
Technology Outlook:
Based on technology, the global synthetic biology market has been segmented into nucleotide synthesis and sequencing, genome engineering, integrated systems, microfluidics, and functional genomics.
The nucleotide synthesis and sequencing segment is expected to register a rapid revenue growth during the forecast period due to decreasing costs of DNA sequencing machines, rapid innovations in sequencing platforms and techniques, as well as improved accuracy and precision in detecting gene sequences and generating biological sequence data. DNA sequencing is used by synthetic biologists in a variety of ways. Large-scale genome sequencing projects provide data on naturally occurring species as this data provides a foundation for synthetic biologists to develop biological systems and devices. In addition, development of Next Generation Technologies (NGS) technologies has helped in gaining a deeper understanding of molecular and genetic mechanisms that cause various human diseases, mutations, and genetic diversity among creatures. Researchers are employing unique gene sequence techniques and data for manipulating biological systems used in anthropological applications. These factors are leading to an increase in adoption of sequencing techniques in the field of synthetic biology. Rising demand for nucleotide sequencing, particularly in the healthcare sector, is resulting in various advancements in synthetic biology, which is a key factor driving growth of the segment.
Application Outlook:
Based on application, the global synthetic biology market has been segmented into medical & healthcare applications, artificial tissues & tissue regeneration, environment & agriculture, and bioprocess industry.
The medical & healthcare applications segment is expected to register a rapid revenue growth rate during the forecast period due to factors, such as research on new and improved treatment techniques as well as availability of significant private and public financing solutions for the discovery of novel therapeutics. Recent developments in synthetic biology is resulting in various advancements in the healthcare industry. For instance, adoption of Chimerc Antigen Receptor (CAR) has benefitted patients. The CAR technology engineers immune cells (T cells) of patients to recognize and attack cancer cells. Additionally, researchers are using genetically-engineered viruses to correct deficient genes in patients with inherited diseases, such as Severe Combined Immune Deficiency (SCID) and epidermolysis bullosa. Patient cells can also be reprogrammed and transformed into stem cells by synthetic biologists, which improves the understanding of diseases and minimizes the usage of animals in medical research. These advancements are leading to developments in tailored medicines and cell treatments, thus, contributing to the revenue growth of this segment.
Tools Outlook:
Based on tools, the global synthetic biology market has been segmented into synthetic DNA and oligonucleotides, enzymes, cloning technologies, synthetic cells, chassis organisms, and xeno-nucleic acids.
The synthetic DNA and Oligonucleotides segment revenue is expected to register a steady growth rate during the market forecast period. The use and integration of synthetic DNA and oligonucleotides in genes, synthons, circuits, and entire genomes with the help of gene synthesis techniques helps in supporting the cycle of designing, building, testing, and learning, contributing to innovations in synthetic biology. Synthetic DNA was originally developed to simulate processes in the human body but is gaining popularity in a wide range of applications, including vaccine development, improvement of gene therapy techniques, and practices linked to human health. These factors are expected to drive revenue growth of this segment.
Regional Insights:
Based on regional analysis, the synthetic biology market in Asia-Pacific is expected to register a rapid revenue growth rate during the forecast period. Some of the key factors supporting technology advancements and innovations in the region include initiatives and efforts undertaken by governments in developing countries for synthetic biology. For instance, government in China is investing in synthetic biology, which would help in the establishment of excellence centers in Shenzhen, a regional technology hub, such as the Institute of Synthetic Biology at the Shenzhen Institute of Advanced Sciences (SIAT) and BGI Genomics. These factors are driving revenue growth of the market in this region. Other countries, such as India, Japan, and South Korea, are progressively establishing active synthetic biology organizations that are supported by national synthetic biology institutes. These institutes invest in research activities for synthetic biology advancements, thus driving revenue growth of the market in this region.
The synthetic biology market in North America is expected to account for largest revenue share during the forecast period attributed to factors such as increase in synthetic biology companies and research organizations in U.S. and Canada, programs related to synthetic biology-based applications, and growth of the healthcare sector across countries. Increase in R&D funding activities by private companies and governments is one of the major factors driving demand for synthetic biology techniques among academic and research organizations and healthcare firms in North America during the forecast period. For instance, on December 8, 2021, the Massachusetts-based biotech company Conagen announced a collaboration with U.S. Defense Advanced Research Projects Agency (DARPA) for supporting the ReSource program, which is financially supported by a grant from the United States Department of Defense (DOD). The project investigates the use of synthetic biology and chemical engineering to convert plastic waste into critical supplies.
Europe is expected to register a steady CAGR during the forecast period due to increasing investments in R&D initiatives for synthetic biology-based research and presence of synthetic biology research-based associations, such as GASB (German Association for Synthetic Biology), EBRC (Engineering Biology Research Consortium), SINERGY (Singapore Consortium for Synthetic Biology), EuSynBioS (European Synthetic Biology Society), and SynBio UK. Increasing number of startups in Germany and other European countries and lucrative financing opportunities are key factors contributing to market revenue growth in this region. Government regulatory support is various countries in this region is also expected to drive market revenue growth for synthetic biology. For instance, on 29 November 2022, the European Commission organized and hosted a high-level conference titled “New genomic techniques—the way forward for safe and sustainable innovation in the agri-food sector,” in order to encourage an insightful and honest debate among all stakeholders. The European Food Safety Authority (EFSA) has also been given mandates by the European Commission in the areas of gene drive, synthetic biology, and new mutagenesis techniques.
Competitive Landscape
Competitive landscape of the global synthetic biology market is fragmented with many key players operating at global and regional levels. Key players are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footing in the global market. Major players in the market include Amyris, Inc., Ginkgo Bioworks, Codexis, Inc., Novozymes AG, Twist Biosciences, GenScrip Corporation., Merck KGaD, Codex DNA, Inc., Eurofins Scientific, Inc., and Amgen, Inc. Market players are undertaking various strategies, which is expected to drive market revenue growth during the forecast period.
On 5 April 2022, Twist Bioscience Corporation, a company that provides high-quality synthetic DNA through its silicon platform, and Ginkgo Bioworks, horizontal platform provider for cell programming, announced a supply agreement, expanding the scope of their collaboration. Ginkgo has made its commitment to Twist’s products for the next four years to acquire additional synthesis capacity and pacing with Ginkgo’s projected growth.
On 29 November 2021, Codex DNA, Inc., an automated benchtop synthetic biology system company, launched its BioXp mRNA synthesis kits with CleanCap Reagent AG, a patented mRNA capping technology introduced by TriLink BioTechnologies, a division of Maravai LifeSciences. Customers will be able to manufacture huge volumes of high-quality, capped mRNA using these new automation kits, which will speed up the discovery and development of mRNA-based vaccines and therapies.
Segments Covered in the Report
This report offers historical data and forecasts revenue growth at global, regional, and country levels and provides analysis of market trends in each of the sub-segment from 2019 to 2030. For this study, Reports and Data have segmented the synthetic biology market based on technology, tools, application, end-use, and region:
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Synthetic Biology Market Report Scope
Segments covered By Technology Outlook, Tools Outlook, Application Outlook, End-use Outlook, Regional Outlook
By Technology Outlook
Nucleotide synthesis and sequencing
Genome engineering
Integrated systems
Microfluidics
Functional genomics
By Tools Outlook
Synthetic DNA and Oligonucleotides
Enzymes
Synthetic Cells
Chassis Organisms
Xeno-nucleic Acids
By Application Outlook
Medical & Healthcare Application
Artificial Tissue & Tissue Regeneration
Environment & Agriculture
Bioprocess Industry
By End-use Outlook
Biotechnology & Pharmaceutical Companies
Academic & Government Research Institutions
Others
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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