Growth in Gene Synthesis, Bioinformatics Technology to Boost Synthetic Biology Market

Synthetic Biology Market

Increasing demand for synthetic genes & synthetic cells, wide range of applications of synthetic biology, declining cost of DNA sequencing & synthesizing, increasing R&D funding & initiatives in synthetic biology, and increasing investments in the market.

How much is the Synthetic Biology Market worth?

The synthetic biology market is projected to reach USD 19.8 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 23.9%. Asia Pacific is expected to grow at the highest CAGR during the forecast period.

Synthetic Biology Market

Factors such as growth in the number of pharmaceutical & biopharmaceutical companies, the increasing number of healthcare & life science facilities, and increasing requirements for regulatory compliance in pharmaceutical and biopharmaceutical companies, growing number of international alliances, heavy funding for synthetic biology research, and strong government support are expected to drive the growth of these markets during the forecast period.

Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=889

By tool, oligonucleotides and synthetic DNA dominated the synthetic biology market in 2019 :

Based on tools, the market segmented into oligonucleotides and synthetic DNA, enzymes, cloning technology kits, synthetic cells, chassis organisms and xeno-nucleic acid. In 2019, the oligonucleotides and synthetic DNA segment accounted for the largest share of the market, followed by enzymes. The large share of the segment can be attributed to the rising demand for synthetic DNA, synthetic RNA, and synthetic genes, which are used in a wide range of research applications.

Gene synthesis accounted for the largest share of the synthetic biology market in 2019 :

Based on technology, the market is segmented into gene synthesis, genome engineering, cloning, sequencing, site-directed mutagenesis, measurement & modeling, microfluidics, nanotechnology, and bioinformatics technologies. In 2019, the gene synthesis segment accounted for the largest share of the market. This large share of the segment can be attributed to the rising demand for synthetic DNA, synthetic RNA, and oligonucleotides across various application industries and its increasing use with genome engineering for the ease and efficiency in genome editing and genome targeting.

Medical applications formed the largest segment of the synthetic biology market in 2019 : 

Based on application, the market is segmented into environmental, medical, industrial, and food & agricultural applications. In 2019, the medical applications segment accounted for the largest share of the market, followed by industrial applications. The extensive research on new and better treatments, coupled with the availability of huge private and public funding for the discovery of novel therapies, is the primary driver for the medical applications segment.

Request for Sample Pages @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=889

North America to dominate the synthetic biology market during the forecast period.

Synthetic Biology Market

In 2019, North America dominated the global synthetic biology market, followed by Europe. The large share of North America can be attributed to the increase in life sciences R&D; availability of funds for research from government organizations, namely, DARPA, SynBERC, DOD, DOE, NIH, and USDA; growing number of synthetic biology companies in the US; growing efforts to increase the output of the healthcare industry; rising demand for high-quality research tools for data reproducibility; and increasing focus on developing personalized therapeutics.

Which are the key players in the synthetic biology market and how intense is the competition?

The prominent players in the synthetic biology market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Novozymes A/S (Denmark), Ginkgo Bioworks (US), Amyris, Inc. (US), Intrexon Corporation (US), GenScript Biotech Corporation (China), Twist Bioscience (US), Synthetic Genomics, Inc. (US), Codexis, Inc. (US), Synthego Corporation (US), Creative Enzymes (US), Eurofins Scientific (Luxembourg), Cyrus Biotechnology Inc. (US), ATUM (US), TeselaGen (US), Arzeda (US), Integrated DNA Technologies, Inc. (US), and New England Biolabs (US).

Recent Developments

  • In December 2019, Amyris, Inc. (US) launched the PURECANE Brand Sweetener.
  • In December 2019, Cyrus Biotechnology Inc. (US) collaborated with the Broad Institute of MIT and Harvard to develop an optimized CRISPR gene-editing technology. This helped Cyrus to gain further commercial access for its Rosetta technology.
  • In August 2019, Agilent Technologies, Inc. (US) acquired BioTek Instruments (US), a manufacturer of life science instrumentation, thereby expanding Agilent’s growing presence and expertise in cell analysis and also strengthening the company’s position in the large and growing immuno-oncology and immunotherapy areas.
  • In June 2019, Novozymes A/S (Denmark) opened its Innovation Campus in Lyngby, Denmark, for research in biological solutions.
  • In April 2019, Precigen, Inc., a wholly-owned subsidiary of Intrexon Corporation (US), opened a new manufacturing facility in Germantown, Maryland, for supporting the gene therapy manufacturing.

Get More Information @ https://bit.ly/2wSjNvM

I’m a Corporate Communicator where I help companies to grow and solve their companies growth and research challenges through my creative marketing strategies. Reach out to me in case you have something I can help with. We live in a technological world, and its complexity continues to throw up challenges that require answers.