USD 11 billion
Report ID: SQSG35H2005 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 132 | Figures: 67
Global Synthetic Biology Market size was valued at USD 11 billion in 2021 and is poised to grow from USD 13.09 billion in 2022 to USD 55.37 billion by 2030, growing at a CAGR of 18.97% in the forecast period (2023-2030).
Synthetic biology market is related to an interdisciplinary field that involves the application of engineering ideas to biology. Its primary goal, which is relatively new in comparison to other disciplines of Science and Technology, is to (re-)design and construct such biological components and systems that do not already exist in the natural world. To assure the rapid production of changed DNA sequences and their integration into two genomes, researchers combine a chemical synthesis of DNA with advances in genomics expertise. The effective application of synthetic biology has the potential to solve problems in medical, manufacturing, and agriculture.
The purposeful or unintended release of synthetic organisms into the environment during research and other uses is a major biosafety risk in synthetic biology. When synthetic bacteria are put into the environment, they can mutate or interact with other species, resulting in crossbreeding and bio errors. This has the potential to endanger the natural species' environment. Another major biosafety worry is the emergence of antibiotic-resistant superbugs. In recent years, the European Union (EU) has supported various research projects on the environmental impact of genetically altered bacteria intentionally released for plant growth or bioremediation.
US Synthetic Biology Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 11 billion
Largest Segment
Healthcare
Fastest Growth
Healthcare
Growth Rate
18.97% CAGR
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The global synthetic biology market is segmented based on Product, Applications, Tool, Technology, and Region. Based on Product it is categorized into: Core Products, Enabling Products, Enabled Products. Based on Applications it is categorized into: Healthcare, Chemicals (Including Bio-Fuels), Food and Agriculture, Other Applications (Biosecurity, Energy, and Environment). Based on Tool it is categorized into: Oligonucleotides and Synthetic DNA, Enzymes, Cloning Technologies Kits, Synthetic Cells, Chassis Organisms, Xeno-nucleic Acids. Based on Technology it is categorized into: Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-directed Mutagenesis, Cloning, Measurement and Modeling, Microfluidics, Nanotechnology. Based on end use, the market is segmented into Biotechnology and Pharmaceutical Companies, Academic and Government Research Institutes, and Others.Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Synthetic Biology Market Analysis by Application
Over the projected period, the healthcare applications sector is predicted to have the largest compound annual growth rate. Extensive research on new and improved treatments, as well as the availability of private and governmental financing for the discovery of novel cures, are the primary drivers of the medical application segment's growth.
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The synthetic biology market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America held the largest proportion of the synthetic biology market in 2020, followed by Europe and Asia Pacific. The growth in the number of well-established synthetic biology firms and research institutes in the United States and Canada is linked to the high proportion of the North American market. Other significant causes include the high number of current research investigations and the global expansion of the healthcare sector.
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Synthetic Biology Market Driver
Synthetic Biology Market Restraint
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Because of the existence of big, regional, and global competitors in the industry, the synthetic biology market is fragmented and competitive. Small start-ups concentrating on specialized technologies, as well as huge corporations with a diverse portfolio of services and resources, are among the industry players. Vendors compete on the basis of technology, brand identity, and product portfolio. Companies are employing a variety of methodologies since synthetic biology encompasses a wide range of tools such as DNA sequencing and genome engineering. Some market participants concentrate on a single technology or sector, such as biofuels, whilst others concentrate on a specific technique, such as genome engineering, which has various uses. Collaborations and partnerships are two additional significant techniques employed by suppliers.
Synthetic Biology Market Top Players Company Profiles
Synthetic Biology Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, significant R&D investment is one of the primary drivers driving the growing demand for synthetic biology techniques and technologies among academic and research organizations, as well as healthcare corporations in North America.
According to our analysis, with increasing internet penetration, the Synthetic Biology market size from the e-commerce segment would expand in terms of distribution channels. Benefits such as ease of access have contributed to the rapid expansion of online purchase in India, China, and Germany. The expanding popularity of e-commerce and thriving retail businesses, which result in higher overall sales, will also fuel category growth.
Report Metric | Details |
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Market size value in 2021 | USD 11 billion |
Market size value in 2030 | USD 13.09 billion |
Growth Rate | 18.97% |
Base year | 2021 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Synthetic Biology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
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Basic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOWSynthetic Biology Market was valued at USD 9.5011 billion in 2021, and it is expected to reach a value of USD 30.7122 billion by 2028, at a CAGR of 26.5 % over the forecast period (2022-2028).
Because of the existence of big, regional, and global competitors in the industry, the synthetic biology market is fragmented and competitive. Small start-ups concentrating on specialized technologies, as well as huge corporations with a diverse portfolio of services and resources, are among the industry players. Vendors compete on the basis of technology, brand identity, and product portfolio. Companies are employing a variety of methodologies since synthetic biology encompasses a wide range of tools such as DNA sequencing and genome engineering. Some market participants concentrate on a single technology or sector, such as biofuels, whilst others concentrate on a specific technique, such as genome engineering, which has various uses. Collaborations and partnerships are two additional significant techniques employed by suppliers. 'Thermo Fisher Scientific, Inc. (US)', 'Merck KGaA (Germany)', 'Agilent Technologies, Inc. (US)', 'Novozymes A/S (Denmark)', 'Ginkgo Bioworks (US)', 'Amyris (US)', 'Precigen, Inc. (US)', 'GenScript (China)', 'Twist Bioscience (US)', 'Synthetic Genomics (US)'
Due to lengthy research and regulatory procedures, the R&D business has always been capital-intensive. Governments see R&D as a critical investment for any country's prosperity, international competitiveness, and public benefit. As a result, R&D investment and funding have steadily increased throughout the years. From 2018 to 2019, R&D investment in the life sciences business increased by 22%. Pharmaceutical and biotechnology businesses spend extensively in research to produce game-changing compounds to meet the rising requirements of the healthcare sector and tackle emerging ailments. The worldwide pharmaceutical R&D sector contributes for over 80% of total R&D investment in the life sciences industry.
The medical applications segment is expected to grow at a fastest CAGR. The availability of large corporate and governmental financing for the development of novel cures, as well as extensive research on new and better treatments, is the key driver of the medical applications segment's growth.
The synthetic biology market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America held the largest proportion of the synthetic biology market in 2020, followed by Europe and Asia Pacific. The growth in the number of well-established synthetic biology firms and research institutes in the United States and Canada is linked to the high proportion of the North American market. Other significant causes include the high number of current research investigations and the global expansion of the healthcare sector.
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Product ID: SQSG35H2005