Global Synthetic Biology Market

Global Synthetic Biology Market Size, Share, Growth Analysis, By Products(Core Products, Enabling Products), By Application(Healthcare, Chemicals (Including Bio-fuels)), By Tool(Oligonucleotides, Synthetic Dna), By Technology(Gene Synthesis, Genome Engineering) - Industry Forecast 2024-2031

Report ID: SQMIG35H2209 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 132 | Figures: 81

Global Synthetic Biology Market Dynamics

Synthetic Biology Market Driver

  • 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.

Synthetic Biology Market Restraint 

  • 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 might mutate or interact with other species, leading in crossbreeding and bio errors. This has the potential to endanger the natural species' environment. Another important 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.
$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 billion in 2019 and is poised to grow from USD 13.09 billion in 2023 to USD 55.37 billion by 2031, growing at a CAGR of 18.97% in the forecast period (2024-2031).

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.', 'Ginkgo Bioworks', 'Twist Bioscience Corporation', 'Codexis Inc.', 'Intrexon Corporation', 'Synthetic Genomics Inc.', 'Amyris Inc.', 'Zymergen Inc.', 'GenScript Biotech Corporation', 'Evolva Holding SA', 'DSM NV', 'ATUM', 'Editas Medicine', 'Genomatica Inc.', 'Global Bioenergies SA', 'BioAmber Inc.', 'Gevo Inc.', 'Synthace Limited', 'Arzeda Corporation', 'Inscripta Inc', 'In January 2022, Ribbon Biolabs, a DNA synthesis company, has raised ~USD 19.6 million in series A funding. With this fund, the company enabled commercial-scale production facilities and the expansion of DNA synthesis technology in the United States.', 'In February 2021, Merck partnered with BioNTech (Germany) to supply lipids for the Pfizer-BioNTech COVID-19 Vaccine (BNT162b2).', 'In January 2021, Novozymes launched Frontia GlutenEx. It would assist wheat processors in increasing gluten protein recovery while also reducing energy use.', 'In January 2021, Merck acquired AmpTec (Germany). The firm expanded its product range by developing and manufacturing mRNA for use in vaccinations, therapies, and diagnostics as a result of this purchase.'

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.

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.

Click here right-arrow
logo-images

Related Reports

Global Synthetic Biology Market

Report ID: SQMIG35H2191 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 61 | Figures: 75

Global Femtech Market
Buy Now GET FREE SAMPLE
Global Synthetic Biology Market

Report ID: UCMIG35H2135 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

Cloning And Mutagenesis Market
Buy Now GET FREE SAMPLE
Global Synthetic Biology Market

Report ID: SQMIG35H2153 | Region: Global | Published Date: February, 2024 | Pages: 219 | Tables: 94 | Figures: 66

Global Single-Use Assemblies Market
Buy Now GET FREE SAMPLE
Global Synthetic Biology Market

Report ID: UCMIG35H2182 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

CRISPR And Cas Genes Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Synthetic Biology Market

Product ID: SQMIG35H2209

$5,300
BUY NOW GET FREE SAMPLE