Synthetic Biology Global Market Report 2023: Increasing Demand for Fuel Alternatives Presents Opportunities
Sunday, April 16, 2023
DUBLIN, Feb. 15, 2023 /PRNewswire/ -- The "Synthetic Biology Market?by Tools (Oligonucleotides, Enzymes, Synthetic Cells), Technology (Genome Engineering, Bioinformatics), Applications (Tissue Regeneration, Biofuel, Food, Agriculture, Consumer Care, Environmental)- Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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The global synthetic biology market size is projected to reach USD 35.7 billion by 2027 from USD 11.4 billion in 2022, at a CAGR of 25.6% during the forecast period. Factors such as increasing investment in synthetic biology research, declining cost of DNA sequencing, increasing adoption of synthetic biology across various industries are driving the market growth at faster pace.
The oligonucleotides and synthetic DNA segment is likely to grow at highest CAGR during the forecast period of 2022-2027.
On the basis of tools, the synthetic biology market is segmented into oligonucleotides & synthetic DNA, enzymes, cloning technology kits, synthetic cells, chassis organisms, and xeno-nucleic acids. The oligonucleotides and synthetic DNA segment is projected to grow at highest CAGR during the forecast period. The growth is attributed to increased demand for synthetic DNA, synthetic RNA, and synthetic genes across various industries. Furthermore, launch of novel products in the market is further likely to have positive impact on the segmental growth.
The gene synthesis segment held dominant share in 2021.
Based on technology, the market is segmented into gene synthesis, genome engineering, sequencing, bioinformatics, cloning, site-directed mutagenesis, measurement and modeling, microfluidics, nanotechnology. The genome engineering segment is expected to grow at faster pace during the the forecast period due to factors such as the use of these techniques in therapeutics development, advancement in CRISPR technologies is increasing adoption.
in 2021, medical applications segment held dominant share.
Based on application, the synthetic biology market is segmented into medical applications, industrial applications, food & agriculture, and environmental applications. The medical applications segment held domiant share in synthetic biology market . Adoption of synthetic biology in research and drug discovery & development is one of the major factor anticipated to project the market growth.
Asia Pacific region is likely to grow at faster pace.
The synthetic biology market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the dominant share in synthetic biology market. The dominance of the region is attributable to various factors such as presence of dominant and key market players in the region coupled augmented use of synthetic biology in various application. Asia Pacific region is likely to grow at faster pace owing to various factors such as rise in demand for synthetic cells across the region, increased research and development funding and emergence of new market players in the synthetic biology market.
Lists of Companies Profiled in the Report:
-- Thermo Fisher Scientific (US)
-- Merck KGaA (Germany)
-- Agilent Technologies (US)
-- Novozymes (Denmark)
-- Ginkgo Bioworks (US)
-- Amyris (US)
-- Precigen (US)
-- GenScript Biotech Corporation (China)
-- Twist Bioscience (US)
-- Synthetic Genomics (US)
-- Codexis (US)
-- Synthego (US)
-- Creative Enzymes (US)
-- Eurofins Scientific (Luxembourg)
-- Cyrus Biotechnology (US)
-- ATUM (US)
-- TeselaGen (US)
-- Arzeda (US)
-- Integrated DNA Technologies (US)
-- New England Biolabs (US)
-- Elevate Bio (US)
-- ZENFOLD (Iosynth) (India)
-- Synbio Technologies (US)
-- Inscripta, Inc. (US)
-- CRISPR Therapeutics (Switzerland).
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall synthetic biology market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
Synthetic biology is an evolving area of research. It is broadly described as the design and construction of novel organisms or devices, artificial biological pathways, and the redesign of existing natural biological systems. It has a wide range of applications in both academic and life sciences industries. It is applied in biofuels, biochemicals, pharmaceuticals, drug discovery & therapeutics, and bioremediation.
The global synthetic biology market is consolidated at the top with a large number of leading market players based in developed countries. The prominent players in this market are Thermo Fisher Scientific (US), Merck KGaA (Germany), Agilent Technologies (US), Novozymes (Denmark), Amyris (US), Precigen (US), GenScript Biotech (China), Twist Bioscience (US), Codexis (US), and Eurofins Scientific (Luxembourg).
Market Dynamics
Drivers
-- Diverse Applications of Synthetic Biology
-- Increased Funding for Research in Synthetic Biology
-- Declining Cost of Dna Sequencing and Synthesizing
-- Innovations in Synthetic Biology
Restraints
-- Biosafety, Biosecurity, and Ethical Concerns
Opportunities
-- Increasing Demand for Fuel Alternatives
-- Growth in Research on Synthetic Drugs and Vaccines
-- Use of Machine Learning in Research and Development
Challenges
-- Standardization of Biological Parts
Report Attribute Details
No. of Pages 441
Forecast Period 2022 -2027
Estimated Market Value (USD) in 2022
$11.4 Billion
Forecasted Market Value (USD) by 2027
$35.7 Billion
Compound Annual Growth Rate 25.6 %
Regions Covered Global
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Synthetic Biology Market, by Tool
7 Synthetic Biology Market, by Technology
8 Synthetic Biology Market, by Application
9 Synthetic Biology Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/dzzxpc-biology?w=5
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