Increase in number of RD investments in drug discovery, the improvement and reduced cost of DNA sequencing and synthesizing are the major factors influencing market growth.
Market Size – USD 4.32 billion in 2018, Market Growth - CAGR of 18.9%, Market Trends –Technological advancements along with government investments in RD
The Synthetic Biology Market is estimated to reach USD 17.36 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising need, to know the functioning of genetic elements, cells and biological methods, development of synthetic biology industry. Products produced in this new biological system are used across many applications, including energy, pharmaceutical diagnostics; bioplastics and environment are expected to become the most common growth factors globally in the coming years.
Synthetic biology is mainly known for the usage of molecular biology along with standard industrial fermentation for the production of renewable, sustainable, algal oils that would reduce the pressure on the ecosystem due to habitat damage and deforestation. Currently, there are customer products in the market, as on department store shelves or grocery that includes the ingredients made using an advanced form of manufacturing and engineering. The primary aim of synthetic biology was the production of biofuels, and it has continued to businesses such as to flavorings, scents, cosmetics, and others.
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The report provides a complete analysis of the global Synthetic Biology market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into the market growth, size, and investment approaches.
The key companies profiled in the market are:
Key participants include Thermo Fisher, Merck KGaA, Novozymes, DNA2.0, Eurofins Scientific, Inc., Intrexon, Agilent Technologies, Amyris, Pareto Biotechnologies, GenScript, Integrated DNA Technologies, Ginkgo Bioworks, Synthetic Genomics, New England Biolabs, TeselaGen, Twist Bioscience.
Further key findings from the report suggest
- Synthetic DNA of the product segment is estimated to reach USD 3.80 billion by 2026 at the highest CAGR of 19.0% during the forecast period.
- The penetration rate is high due to its widespread use in RD and commercialization than any other product segments.
- Genome engineering technology accounts for a market share of 22.6% in 2018. It has emerged as the most notable technology utilized in synthetic biotechnology.
- The researchers anticipate this technology to advance in the forthcoming years.
- Also, other factors, such as advancements in DNA synthesis technologies and CRISPR-toolbox, the need for cheap, rapid, multiplex alteration of genomes, and ongoing research activities are anticipated to drive the growth of the genome engineering during the forecast period.
- Synthetic oligos of the product segment is estimated to reach USD 3.87 billion by 2026 at a CAGR of 18.9% during the forecast period.
- The method is beneficial in modern laboratory practice because it provides accelerated and reasonable access to custom-made oligonucleotides of the desired sequence.
- Pharmaceuticals and diagnostics is estimated to reach USD 6.82 billion by 2026 at a CAGR of 18.9% during the forecast period.
- Production of Artemisinin is supposed to be one of the best health applications.
- Some of the possible application of synthetic biology in health and food are reprogramming of stem cells, regenerative medicine, new therapeutic methods, efficient production of nutraceuticals, for instance, vitamins, food supplements, and preservatives.
- The synthetic biology products and technologies have notable usage in several application areas.
- The organisms engineered with synthetic biology methods are relatively inexpensive, owing to their use in numerous industrial applications.
- It is also a cost-effective approach for research, due to which the market for these techniques is progressing considerably across the world.
- Europe accounts for a share of 28.2% of the market in 2018 and is estimated to reach USD 4.96 billion by 2026.
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For the purpose of this study, Reports and Data have segmented the global Synthetic Biology Market on the basis of, Product, Technology, Application and region:
By Product Outlook (Revenue, USD Million; 2016-2026)
- Synthetic oligos
- Synthetic DNA
- Synthetic genes
- Software tools
- Chassis organisms
- Synthetic clones
- Synthetic cells
By Technology Outlook (Revenue, USD Million; 2016-2026)
- Gene synthesis
- DNA Sequencing
- Genome Engineering
- Biological Components
- Integrated Systems
Application Outlook (Revenue, USD Million; 2016-2026)
- Pharmaceuticals and diagnostics
The report further segments the market on the basis of key regions of the world and offers an assessment of the production and manufacturing capacity, import and export, production and consumption patterns, supply and demand ratio, and the presence of key players in each region. The Synthetic Biology market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East Africa.
In-depth regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- Rest of MEA
The report includes primary and subjective research with a comprehensive study examined and validated by industry professionals and experts. The report further provides insights into the opportunities and threats that the industry may witness in the upcoming years, throughout the forecast period. The report also provides an insight into the growth in revenue along with CAGR throughout the forecast period. It also provides insights into lucrative opportunities to enable the businesses to capitalize on the emerging trends of the market.
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Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Synthetic Biology market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Synthetic Biology market size
2.2 Latest Synthetic Biology market trends
2.3 Key growth trends
- Competitive Landscape
3.1 Global Synthetic Biology market key players
3.2 Global Synthetic Biology size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Synthetic Biology market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
About Reports and Data
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