USD 11 billion
Synthetic Biology Market Size, Share, Growth Analysis, By Tool (Oligonucleotides & Synthetic DNA, Enzymes), By Technology (Gene Synthesis, Genome Engineering), By Application (Medical Application, Pharmaceuticals), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2209 |
Region:
Global |
Published Date: October, 2024
Pages:
165
|Tables:
132
|Figures:
81
Synthetic Biology Market Insights
Global Synthetic Biology Market size was valued at USD 11.3 Billion in 2022 and is poised to grow from USD 14.18 Billion in 2023 to USD 87.27 Billion by 2031, at a CAGR of 25.5% over the forecast period (2024-2031).
The synthetic biology market is projected to witness significant growth in the coming years owing to technological advancements and growing demand for sustainable solutions. Speedy progress in Cas9 and CRISPR gene editing technologies and synthetic gene synthesis is aiding synthetic biology to be more cost-effective and feasible. Moreover, the rising interest in synthetic biology to develop ecological and sustainable solutions like green chemicals, biodegradable materials, and biofuels is impacted by concerns of the environment and the rising need for sustainability. However, the market is negatively impacted by ethical and regulatory concerns. Ethical issues and strict regulations associated with genetic modifications, environmental impact, and biosafety might hamper commercialization and research efforts. Yet, the development of advanced therapies and personalized medicines is offering great potential to transform healthcare and treat the previously known incurable illnesses.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Healthcare
Fastest Growth
Healthcare
Growth Rate
18.97% CAGR
Global Synthetic Biology Market ($ Bn)
Country Share for North America Region (%)
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Synthetic Biology Market Segmental Analysis
The Global Synthetic Biology Market is segmented by Tool, Application, Technology, and Region. Based on Tool, the market is segmented into Oligonucleotides and Synthetic DNA, Enzymes, Cloning Technologies Kits, Synthetic Cells, Chassis Organisms, and Xeno-Nucleic Acids. Based on Application, the market is segmented into Medical Application, Pharmaceuticals, Drug Discovery and Therapeutics, Other Medical Application, Artificial Tissue and Tissue Regeneration, Industrial Applications, Other Industries, Food & Agriculture, Environmental Applications. Based on Technology, the market is segmented into Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-directed Mutagenesis, Cloning, Measurement and Modelling, Microfluidics, and Nanotechnology. By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Tool
Based on tool, the oligonucleotides and synthetic DNA segment is the dominant share of the market as compared to others owing to its foundational role and technological advances. Oligonucleotides and synthetic DNA are the primary building blocks used in synthetic biology. They help in gene synthesis, creation of synthetic genomes, and genetic engineering, making them the basics of broader applications. Moreover, inventions in DNA synthesis have majorly decreased the costs and accelerated the accuracy and speed of producing synthetic DNA. These factors are propelling the growth of the segment.
Conversely, the enzymes segment is anticipated to be the fastest growing among others due to its essential role in biotechnology. Enzymes are essential for broader applications including protein engineering, DNA manipulation, and biosynthesis. They play a key role as biological catalysts that fuel most biochemical processes. Owing to these factors, the enzymes segment will make notable progress in the coming years.
Analysis by Technology
Based on technology, the gene synthesis segment held a majority share of the market in the previous years and will lead over the forecast period as well owing to the rising demand for customized genes. In recent years, there has been an increased demand for customized DNA sequences to aid diagnostics, research, and therapeutic development. Here, gene synthesis offers accurate and properly customized gene constructs required for such uses. Hence, the demand for gene synthesis has increased considerably in recent years, impacting the overall market growth.
However, the genome engineering segment is expected to grow quickly due to its broader applications. Genome engineering is used in different applications like the agriculture industry and medicine. It allows the creation of GMOs, gene therapies, personalized medicine, enhanced crop varieties, and more, impacting the segmental growth.
Global Synthetic Biology Market Size By Tool
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Synthetic Biology Market Regional Insights
Geographically, the synthetic biology market is leading in North America owing to several factors like robust research and development architecture. Mainly, Canada and the United States holds a strong infrastructure for research and development. This comprises top-class universities, research institutes, and biotech companies that fuel inventions and advances in the domain of synthetic biology. Moreover, growing funding and heavy investments in synthetic biology and biotechnology from both public and private sectors aid better research and development of technologies in the region. The leading vendors operating in North America include Thermo Fisher Scientific, Agilent Technologies, Ginkgo Bioworks, and Amyris, Inc. among others.
The market in Asia-Pacific is observed to be the fastest growing due to speedy economic growth and expanding R&D capabilities. Asia-Pacific is currently actively investing in developing its research capabilities and increasing its R&D competencies. Nations like South Korea, Japan, and China are engaged in developing modern laboratories and research capabilities, aiding improvements in synthetic biology. Moreover, funding and government initiatives are helping the market grow. government is supporting the market growth by funding programs, offering funding, subsidies, and more. These factors are helping the market grow considerably in the region.
Global Synthetic Biology Market Size By Region
- Largest
- Fastest
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Synthetic Biology Market Dynamics
Drivers
Application in Medicine & Agriculture Innovations
- Synthetic biology is improving the emergence of novel therapies, diagnostics, and vaccines, impacting the surging use in healthcare and pharmaceutical sectors. Furthermore, the said technology is used in the development of genetically tailored crops with improved resistance to diseases and pests, which aids agriculture productivity and food security. These factors are impressively helping the growth of the synthetic biology market.
Rising Investments and Increasing Biotech R&D
- There have been major investments from the public and private sectors aiding commercialization, and research and development of synthetic biology technologies. Moreover, the widening scope of synthetic organisms and tailored medicine for research uses is propelling the growth of the synthetic biology market.
Restraints
High Initial Cost and Technical Complexities
- The initial costs needed to develop synthetic biology technologies is notably high, impacting or hindering the scalability and accessibility. Complexities in engineering, designing, and integrating these systems might present major challenges, negatively impacting the reliability and efficiency of these technologies.
Lack of Standardization
- The absence of standardized techniques and protocols in synthetic biology might result in intricacies and inconsistencies in replicating and validating the outcomes. Also, concerns associated with potential unintentional consequences like biosafety threats or ecological impacts of synthetic organisms might result in regulatory and scrutiny challenges.
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Synthetic Biology Market Competitive Landscape
Synthetic Biology Market providers need to focus on maximizing their business scope by reaching into new markets and developing synthetic biology for different industrial and personal uses. Raising new capital to fund their R&D and business expansion efforts will be essential for new synthetic biology companies going forward. The development of custom robots for specific applications across different industry verticals will also help companies expand their sales potential in the future.
Top Player’s Company Profiles
- Genentech Inc. (U.S.)
- Sorenson Genomics, LLC (U.S.)
- Abbott Molecular (U.S.)
- Bayer Diagnostics (U.S.)
- Genomic Health (U.S.)
- Thermo Fisher Scientific Inc. (US)
- Merck KGaA (Germany)
- Agilent Technologies (US)
- Novozymes (Denmark)
- Ginkgo Bioworks (US)
- Amyris (US)
- Precigen, Inc. (US)
- GenScript (China)
- Twist Bioscience (US)
- Synthetic Genomics (US)
- Codexis, Inc. (US)
- Synthego (US)
- Creative Enzymes (US)
- Eurofins Scientific (Luxembourg)
- Bota Biosciences Inc. (China)
- Creative Biogene (US)
- Enbiotix, Inc. (US)
- Illumina, Inc. (US)
- New England Biolabs (US)
- Pareto Bio, Inc. (US)
Recent Developments
- In February 2023, Sherlock Biosciences declared the acquisition of Sense Biodetection. This acquisition speeds up bringing Sherlock's products to the market by adding Sense's Veros™ manufacturing capabilities and instrument-free rapid molecular test platform, allowing the vision of affordable and accurate diagnostics to be used anytime and anywhere.
- In May 2024, Ginkgo Bioworks and Sojitz Corporation announced their agreement to build connections with major Japanese organizations and motivate the application of synthetic biology to create ecological production processes.
- In September 2023, Codexis improved an enzymatic RNA synthesis tool with the aim that it will lessen the issues over sustainability, scalability, and economies of conventional phosphoramidite-enabled chemical RNA synthesis.
Synthetic Biology Key Market Trends
- Epigenetics: Engineered gene’s expression is dictated by complex & dynamic epigenetics and DNA sequence. This over-activates synthetic constructs, resulting in inconsistent outcomes. Owing to this feature, the newbies in the market are bringing innovations in epigenetics technologies to navigate and handle these intricacies.
Synthetic Biology Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, advancements in technologies and growing demand for sustainable solutions are fueling the synthetic biology market. Nonetheless, ethical and regulatory concerns and significant initial costs are hampering the synthetic biology market. North America is projected to dominate the market backed by growing innovations and improved technologies, supportive regulatory scenarios, and heavy investments. Moreover, the rise of industrial biotechnology and the growth of sustainable solutions create opportunities for the market's growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 11.3 Billion |
| Market size value in 2031 | USD 87.27 Billion |
| Growth Rate | 25.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Synthetic Biology Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Synthetic Biology Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Synthetic Biology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Synthetic Biology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Synthetic Biology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Synthetic Biology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Synthetic Biology Market Report Snapshots
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