Synthetic Biology Market Size, Share, Growth Analysis, By Tool(Oligonucleotides & Synthetic DNA, Enzymes, Cloning Technology Kits, Synthetic Cells, Chassis Organisms, XNA), Technology(Gene Synthesis, Sequencing, Bioinformatics, Cloning, Others), Application, and Region - Industry Forecast 2024-2031


Report ID: SQMIG35H2209 | Region: Global | Published Date: June, 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 expected to grow from USD 14.18 Billion in 2023 to reach USD 87.27 billion by 2031, at a CAGR of 25.5% during the forecast period (2024-2031).  

The synthetic biology market is rapidly growing worldwide, due to increased technological development in biotechnology, genetic engineering, and molecular biology. Synthetic biology is the process of understanding and designing artefacts or living systems, aiming to apply the same in healthcare, agriculture, industrial biotechnology and environmental concerns. It acts to design biological systems for accomplishing goals or optimizing their functions based on SynBio, providing ways to solve multifaceted issues in diverse sectors. It has been found that one of the main factors that is encouraging the growth of the market is the growing acceptance of green technology and the rising need for energy. Also, these broaden its applications since it has the potency to work towards solving global health challenges including disease treatment and drug development. 

However, the market involves some limiting factors and challenges. These threaten consumer sustainability and result in decreased product differentiation. Biosafety issues and regulatory risks are the main challenges to market growth. Furthermore, inherent risks in the R&D processes and the difficulty of designing SMBs for proper functioning in the marketplace may also slow down market growth. Nevertheless, despite the issues impeding market growth and advancement, synthetic biology market trends offer vast potential for development. Technological improvements in bioengineering and synthetic biology provide opportunities to manipulate genes, cells, and organisms like machines. Additionally, partnerships between academic institutions, research institutions, and industry players create conducive conditions for the progression of new applications and products. 

In conclusion, the global market for synthetic biology shows promise in disrupting several industries and addressing imminent worldwide problems. Although these markets face constraints such as ethical issues, regulatory challenges, and high costs associated with implementing sustainable products, market prospects continue to expand due to the growing demand for sustainable products and technologies. Continuous development and improvement in the synthetic biology market, along with achieving new breakthroughs in the field, underscore the ongoing opportunities for research and development in overcoming these challenges.

US Synthetic Biology Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 11 billion

Largest Segment

Healthcare

Fastest Growth

Healthcare

Growth Rate

18.97% CAGR

Global Synthetic Biology market By Region ($ Bn)
Country Share for North America Region (%)

To get more reports on the above market click here to Buy The Report

Synthetic Biology Market Segmental Analysis

The global synthetic biology market is segmented into Tool, Technology, Application, 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 Technology, the market is segmented into Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-directed Mutagenesis, Cloning, Measurement and Modelling, Microfluidics, and Nanotechnology. Based on Application, the market is segmented into Medical Application, Pharmaceuticals, Drug Discovery and Therapeutics (Cancer Detection & Diagnostics, Other Drug Discovery and Therapeutic Applications), Other Medical Application, Artificial Tissue and Tissue Regeneration (Bio-synthesis, Stem Cell Regulation, Other Tissue and Tissue Regeneration Applications), Industrial Applications (Biofuel and Renewable Energy, Biomaterials and Green Chemicals, Industrial Enzymes (Textile Industry, Paper Industry, Consumer Care Industry (Skin Care & Cosmetics, Other Consumer Care Products), Other Industries, Food & Agriculture, Environmental Applications (Bioremediation, Biosensing, Other environmental application). Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.

Analysis by Tool 

Oligonucleotides and Synthetic DNA represent the largest segment. In this segment, adaptation of the direct synthesis approach is justified as deoxyoligonucleotides act as elementary components to the genetic engineering claimed all over the globe. They allow the scientific community to create organisms with specific, highly harmonized genetic codes. This segment remains dominant due to its presence at the center of multiple applications including gene synthesis and editing, medicine discovery and diagnosing. The increased information density in genomic sequences prompted by advances in genomic study, the growth in individual targeted therapy initiatives, and the demand for GMO species are also stimulating its growth.

Enzymes emerge as the fastest-growing segment within the synthetic biology market. Bio synthetic enzymes are molecular biological signs that nurture each cycle of chemical reactions so that large molecules and pathways are synthesized at an incredibly rapid rate. They are thus applicable across various industries, for instance in the development of pharmaceuticals, agriculture, and biofuels, where they fast-track production of bio-based products with high specificity and efficiency, as well as environmental compromise. In this context, further developments in terms of enzyme engineering and new enzyme screening technologies are rapidly enriching the portfolio of useful enzymes in synthetic biology. 

Analysis by Technology 

The largest segment involved in gene synthesis boasts impressive statistics that underscore the impact of synthetic biology. The design enabler has secured American dominance and plays the crucial role in synthetic biology initiatives. The synthesis of artificial genes and diatomaceous components from scratch has been on the rise due to the several shortcomings that are being realized in the industries regarding modular genetic constructs. This segment not only currently holds significant power but demonstrates its potential for continued growth. given the reported uses of tailored genetic sequences in areas ranging from pharmaceuticals to agriculture. 

The Genome Engineering segment that comes up as the most promising market for synthetic biology industry developments. New technologies like CRISPR-Cas9 have become leaders in genome-editing applications because of their increased accuracy and efficiency over many conventional techniques. Here one can observe the truly impressive trajectory of growth in this segment, which is founded on the adaptive response to the needs of various industries ranging from healthcare and biotechnology to others. As research scientists are mining the full potential of genome engineering in combating ailments, improving yield, and feeding the world, its growth prospects are expected to overpower all others in the market.

Global Synthetic Biology market By Tool

To get detailed analysis on other segments, Request For Free Sample Report

Synthetic Biology Market Regional Insights

North America appears to have left a significant impact on producing and developing synthetic biology technologies as it has reliable infrastructure, higher funding in research and development, and various support systems for biotechnology innovations. This influence is bolstered by the presence of key market players and renowned academic institutions in the region. Additionally, increasing demand for environmentally friendly materials and products, particularly in construction projects, further stimulates market growth in this area.  

The Asia-Pacific region is found to have the highest market growth rate for synthetic biology. With the much backing from the government and other favorable regulatory supports, regulatory policies, and more involvement of academies, Asia’s key players including China, India, and Singapore have rapidly accelerated the biotech investment. Furthermore, an emerging industry of biopharmaceutical production and concerns on environmental conservation catalyzes the exponential progression of synthetic biology in this area. The Asia-Pacific region has quickly grown into one of the most innovative markets for adopting high-tech products and becoming a leading manufacturing center for biotech products, making it vital to the synthetic biology market.

Global Synthetic Biology Market By Region
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Synthetic Biology Market Dynamics

Synthetic Biology Market Driver

Technological Advancements driving Market Growth

  • This is due to innovative research progress in synthetically built biology technologies like gene synthesis, genome editing, and metabolic re-design. This progress paves way for creating new products and solutions in the fields of health, food and nutrition and industrial biosciences. 

Increasing Demand for Sustainable Solutions

  • As the world becomes fully conscious of environmental conservation's impacts, industries involving environmentally friendly products and materials are growing fast, such as biofuel, bioplastics and renewable chemicals. This has provided the opportunity to use Synthetic Biology in fashioning biological systems in better and improved ways for higher efficiency of production, less pollutive techniques driving the market.  

Restraints 

Ethical and Regulatory Challenges

  • General synthetic biology has been associated with some of the following bioethical issues on biosafety, biosecurity, and many applications of engineered organisms. Currently, the use of synthetic biology products and technologies is still regulated by government policies within different countries, which attempt to create conducive environments and markets for commercialization of synthetic biology products and technologies. 

Complexity and Cost is Restraining the Market Growth

  • The process of designing and fabricating synthetic biological systems or networks and tuning those systems for optimal functioning can be an elaborate and expensive mechanism that calls for complex set of skills, tools and resources. Some limitations however exist in form of high capital required at the initial stages, complexity during scale up to commercial production and operational scales thus placing smaller companies and start-ups at a disadvantage thus limiting the market growth. 

Request Free Customization of this report to help us to meet your business objectives.

Synthetic Biology Market Competitive Landscape

The global synthetic biology market is diverse to an extent that it has large and traditional players in the new market alongside innovating organizations and academic institutes. Current players have substantial economies of scale, well-developed R&Ds and extensive product offerings that have turned this a rather consolidated market with key strategies including formation of strategic partnerships in a bid to strengthen this competitive advantage and increase market coverage. Some of these companies even provide a diverse portfolio of products and services including gene synthesis, Genome editing tools as well as bioinformatics services. Accompanying these titans are a plethora of emerging growth companies, many of which have highly specialized and highly focused skill sets and possess a diverse range of new technologies as well. These startups focus on specific subfields in synthetic biology, for instance cell-free protein synthesizing system or engineered microorganisms for numerous uses. I think that their flexibility and orientation at the revolutionary technologies are among the most significant factors contributing to the dynamics of the market. Universities are equally important in exerting influence in the field as research-based institutions that provide the wave of innovation and interaction with the commercial side of Synthetic Biology. These partnerships enhance the technology transfer process and the application of research results for business purposes. 

Synthetic Biology Market Top Players Company Profiles 

  • 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 Corporation (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)

Synthetic Biology Market Recent Developments

  • In March 2023, AMC Health, a healthcare company, announced a service partnership with the University of Mississippi Medical Center to enhance outcomes for patients with chronic illnesses. This partnership aims to develop the synthetic biology market and create new opportunities for more extensive patient care systems beyond traditional hospital settings. 

  • In July 2023, Sumitomo Chemical Co., Ltd (TSE:4005) and Ginkgo Bioworks (NYSE: DNA) have unveiled a fresh initiative to leverage synthetic biology in crafting functional chemicals, expanding their ongoing biomanufacturing collaboration. Since 2021, the duo has harnessed Ginkgo's platform to produce a spectrum of products spanning personal care, cosmetics, agriculture, and pharmaceuticals. This latest endeavor signifies their third joint project, poised to facilitate large-scale production of functional chemicals through fermentation techniques. 

Synthetic Biology Key Market Trends

  • Bio-based Materials and Chemicals: As stated earlier, there is an increasing emphasis on using biological feedstock and synthesis through synthetic biology tools to produce materials and chemicals. Dynamic has grown due to rising consumer concern with environmental issues and the push from consumers to migrate from the use of fossil fuels. 
  • Precision Medicine and Biopharmaceuticals: The need to think beyond and transform the delivery of personal medicine and better biopharmaceuticals using synthetic biology is evidenced. Law: Emerging advances in molecular technology like CRISPR-Cas9 present a great promise in gene engineering for medical applications inclusive of gene therapies, cell therapies, and individualized cancer therapy. When the situation is like that, then it suggests that it will continue to go up, thus making it a key driver that is leading to the growth of the healthcare sector.

Synthetic Biology Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types of teams that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. 

According to our market analysis, the synthetic biology market is in its growth phase, with global expansion evident, although North America remains dominant. Currently, Asia leads in production growth, benefiting from developed infrastructure, active investments in research and development, and a substantial number of market professionals. Additionally, government backing, and favorable legislative environments further contribute to market growth in North America. 

Some of the most important factors stimulating the progress of the global synthetic biology market are the growing concerns about the environment and the shift to the use of bio-based products in healthcare, agriculture, and energy industries. New technologies in synthetic biology for the manufacture of renewable fuels, pharmaceutical products, and sustainable agriculture are attributed to making synthetic biology popular across the globe. One of the developments that impacts the size, and dynamics of the given market is the synergy between synthetic biology and other emerging technologies like AI and machine learning. Through this integration, the engineering of biological systems is done more precisely and at a faster rate, thus the improvement of designs and commercialization of products. In addition, with the help of synthetic biology platforms & tools integrated with AI capabilities, the market is seeing swift prototyping & scale up of the various applications of synthetic biology thus boosting the broad market growth & innovation.

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
  • Tool
    • Oligonucleotides and Synthetic DNA, Enzymes, Cloning Technologies Kits, Synthetic Cells, Chassis Organisms, and Xeno-nucleic Acids
  • Application
    • Medical Application, Pharmaceuticals, Drug Discovery and Therapeutics (Cancer Detection & Diagnostics, Other Drug Discovery and Therapeutic Applications), Other Medical Application, Artificial Tissue and Tissue Regeneration (Bio-synthesis, Stem Cell Regulation, Other Tissue and Tissue Regeneration Applications), Industrial Applications (Biofuel and Renewable Energy, Biomaterials and Green Chemicals, Industrial Enzymes (Textile Industry, Paper Industry, Consumer Care Industry (Skin Care & Cosmetics, Other Consumer Care Products))), Other Industries, Food & Agriculture, Environmental Applications (Bioremediation, Biosensing, Other Environmental Application)
  • Technology
    • Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-directed Mutagenesis, Cloning, Measurement and Modelling, Microfluidics, and Nanotechnology
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
  • 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 Corporation (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)

Synthetic Biology Market Recent Developments

  • In March 2023, AMC Health, a healthcare company, announced a service partnership with the University of Mississippi Medical Center to enhance outcomes for patients with chronic illnesses. This partnership aims to develop the synthetic biology market and create new opportunities for more extensive patient care systems beyond traditional hospital settings. 

  • In July 2023, Sumitomo Chemical Co., Ltd (TSE:4005) and Ginkgo Bioworks (NYSE: DNA) have unveiled a fresh initiative to leverage synthetic biology in crafting functional chemicals, expanding their ongoing biomanufacturing collaboration. Since 2021, the duo has harnessed Ginkgo's platform to produce a spectrum of products spanning personal care, cosmetics, agriculture, and pharmaceuticals. This latest endeavor signifies their third joint project, poised to facilitate large-scale production of functional chemicals through fermentation techniques. 

Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

 

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

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
  • 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
  • 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
  • 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(%)

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.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Synthetic Biology Market size was valued at USD 11.3 Billion in 2022 and is expected to grow from USD 14.18 Billion in 2023 to reach USD 87.27 billion by 2031, at a CAGR of 25.5% during the forecast period (2024-2031).  

The global synthetic biology market is diverse to an extent that it has large and traditional players in the new market alongside innovating organizations and academic institutes. Current players have substantial economies of scale, well-developed R&Ds and extensive product offerings that have turned this a rather consolidated market with key strategies including formation of strategic partnerships in a bid to strengthen this competitive advantage and increase market coverage. Some of these companies even provide a diverse portfolio of products and services including gene synthesis, Genome editing tools as well as bioinformatics services. Accompanying these titans are a plethora of emerging growth companies, many of which have highly specialized and highly focused skill sets and possess a diverse range of new technologies as well. These startups focus on specific subfields in synthetic biology, for instance cell-free protein synthesizing system or engineered microorganisms for numerous uses. I think that their flexibility and orientation at the revolutionary technologies are among the most significant factors contributing to the dynamics of the market. Universities are equally important in exerting influence in the field as research-based institutions that provide the wave of innovation and interaction with the commercial side of Synthetic Biology. These partnerships enhance the technology transfer process and the application of research results for business purposes.  '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 Corporation (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)', ' In March 2023, AMC Health, a healthcare company, announced a service partnership with the University of Mississippi Medical Center to enhance outcomes for patients with chronic illnesses. This partnership aims to develop the synthetic biology market and create new opportunities for more extensive patient care systems beyond traditional hospital settings.  ', ' In July 2023, Sumitomo Chemical Co., Ltd (TSE:4005) and Ginkgo Bioworks (NYSE: DNA) have unveiled a fresh initiative to leverage synthetic biology in crafting functional chemicals, expanding their ongoing biomanufacturing collaboration. Since 2021, the duo has harnessed Ginkgo's platform to produce a spectrum of products spanning personal care, cosmetics, agriculture, and pharmaceuticals. This latest endeavor signifies their third joint project, poised to facilitate large-scale production of functional chemicals through fermentation techniques.  '

This is due to innovative research progress in synthetically built biology technologies like gene synthesis, genome editing, and metabolic re-design. This progress paves way for creating new products and solutions in the fields of health, food and nutrition and industrial biosciences. 

Bio-based Materials and Chemicals: As stated earlier, there is an increasing emphasis on using biological feedstock and synthesis through synthetic biology tools to produce materials and chemicals. Dynamic has grown due to rising consumer concern with environmental issues and the push from consumers to migrate from the use of fossil fuels. 

North America appears to have left a significant impact on producing and developing synthetic biology technologies as it has reliable infrastructure, higher funding in research and development, and various support systems for biotechnology innovations. This influence is bolstered by the presence of key market players and renowned academic institutions in the region. Additionally, increasing demand for environmentally friendly materials and products, particularly in construction projects, further stimulates market growth in this area.  

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Report ID: SQMIG35H2209

$5,300
BUY NOW GET FREE SAMPLE