Rising Prevalence of Chronic Diseases to Fuel the Global Synthetic Biology Market Growth with a CAGR of 5.3% over the Forecast Period

The Global Synthetic Biology Market is projected to expand at a CAGR of 24.47 percent during the forecast period from a value of USD 5.3 Bn in 2019 and reach USD 38.0 Bn by 2028. Synthetic biology is a modern interdisciplinary field that includes the application of engineering concepts to biology. It seeks to (re-)design and produce biological components and structures, which do not already exist in the field of nature. Synthetic biology blends chemical DNA synthesis with increasing genomics expertise to enable researchers to generate catalogued DNA sequences rapidly and assemble them into new genomes.

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Scientists can design and synthesize modified bacterial chromosomes that can be used in the manufacture of advanced biofuels, bio-products, and green chemicals, bio-based specialty chemicals (pharmaceutical intermediates, fine chemicals, and food ingredients) and also in the healthcare field to increase the speed and cost of DNA synthesis.

Growth Drivers that Support the Global Synthetic Biology Market Growth:

  • The increasing funding from government agencies and the growing geriatric population plays a key role in the growth of this market for synthetic biology.
  • Study activities in synthetic biology are very costly, which is adversely affecting the growth of the market for synthetic biology.
  • It is costly because of the processes of synthesis of nucleic acids and requires tremendous investment in the production and sequencing of the condensed genome.
  • The demand for synthetic biology is classified into pharmaceuticals and diagnostics, energy, chemicals, agriculture, and R&D based on the application. Within the forecasted time, pharmaceutical and diagnostic applications held the largest market share and are expected to maintain a considerable market share.
  • Due to the rising prevalence of chronic diseases and the ageing population in the region, the North American market is growing at a significant rate.

Global Companies Seek to Launch New Products in the Market by Collaboration:

  • August 18, 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.
  • Amyris, Inc. (US) introduced the PURECANE Label Sweetener in December 2019.
  • Cyrus Biotechnology Inc. (US) collaborated with the Large Institute of MIT and Harvard in December 2019 to develop an integrated gene editing technology for CRISPR. This allowed Cyrus to obtain additional commercial access to its Rosetta technology.
  • In August 2019, Agilent Technologies, Inc. (US) acquired BioTek Instruments (US), a life science instrumentation maker, extending Agilent’s increasing cell analysis reach and expertise and improving the role of the organization in the broad and growing fields of immuno-oncology and immunotherapy.
  • In June 2019, for research in biological solutions, Novozymes A/S (Denmark) opened its Innovation Campus in Lyngby, Denmark.

Major companies functioning in the global Synthetic Biology market are Amyris Inc., E. I. du PONT de Nemours and Company, Intrexon Corporation, GenScript USA Inc., Synthetic Genomics Inc., Thermo Fisher Scientific Inc., Novozymes A/S, Royal DSM, Integrated DNA Technologies Inc., and New England Biolabs Inc.

Market Segmentation:

By Segment

  • Technology
  • Tool

By Application

  • Pharmaceutical
  • Diagnostics
  • Energy
  • Agriculture
  • Chemical

By Region:

  • North America Synthetic Biology Market
    • By Country (US, Canada, Mexico)
    • By Segment
    • By Application
  • Europe Synthetic Biology Market
    • By Country (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)
    • By Segment
    • By Application
  • Asia Pacific Synthetic Biology Market
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Segment
    • By Application
  • Middle East & Africa Synthetic Biology Market
    • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
    • By Segment
    • By Application
  • South America Synthetic Biology Market
    • By Country (Brazil, Argentina, Colombia, Rest of South America)
    • By Segment
    • By Application

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

 

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