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  • Synthetic Biology Market Growth Analysis | 2023-2028

    Synthetic Biology Market Growth Analysis | 2023-2028

    Synthetic Biology Market Growth Analysis | 2023-2028
    Report code - SRHL162 Delivery - 2 Weeks
    Synthetic Biology Market Size, Share, Trends, Dynamics, Forecast, & Growth Analys See more...

    Market Insights

    The synthetic biology market was estimated at USD 12.18 billion in 2022 and is likely to grow at a CAGR of 23.89% during 2023-2028 to reach USD 44.17 billion in 2028.

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    What is synthetic biology?

    Synthetic biology is an advanced technology that is developed from biology, engineering, chemistry, and computer science and mainly uses two approaches: the top-down approach and the bottom-up approach. The top-down approach involves the re-designing and fabrication of existing biological systems for producing synthetic products, whereas the bottom-up approach involves designing and construction novel biological systems that do not exist in nature. Aid from government as well as private organizations, the rising number of synthetic biology research entities and the declining cost of DNA sequencing & synthesizing are the major factors acting as a catalyst towards the imminent need to understand the functioning of genetic elements, cells and biological processes.

    Synthetic Biology Market Report Overview

    Market Size in 2028

    USD 44.17 Billion

    Market Size in 2022

    USD 12.18 Billion

    Market Growth (2023-2028)

    CAGR of 23.89%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some key players in the global market are:

    • Agilent Technologies, Inc.,
    • Amyris, Inc.,
    • Codexis, Inc.,
    • Creative Enzymes,
    • Cyrus Biotechnology Inc.,
    • Eurofins Scientific,
    • GenScript Biotech Corporation,
    • Ginkgo Bioworks,
    • Integrated DNA Technologies, Inc.,
    • New England Biolabs,
    • Novozymes A/S,
    • Precigen, Inc.,
    • Synthego Corporation,
    • Synthetic Genomics, Inc.,
    • The Merck Group,
    • Thermo Fisher Scientific Inc.,
    • Twist Bioscience.

    Market Dynamics

    Increasing use of synthetic biology for various applications such as biofuel development, protein therapeutics, personalized medicine, and synthetic drugs & vaccines is one of the prime factors contributing to the demand for synthetic biology.

    Large-scale adoption of synthetic biology coupled with decreasing cost of DNA sequencing & synthesis of genes resulting in increasing investments by governments and private entities in the field of synthetic biology is driving the growth of the global synthetic biology market.

    This funding is being used to develop new products and technologies and to conduct research and development activities. Increasing biofuel demand for sustainable and eco-friendly solutions is driving the demand for synthetic biology-based products.

    synthetic-biology-market-snapshot

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    Restraints:

    Increasing concerns about ethics and biosafety

    Synthetic biology poses biosafety risks due to the introduction of synthetic organisms into the environment for research or other purposes. These microorganisms can mutate, interact with existing species, and create bioerrors, endangering wild animal habitats. The European Union has funded studies on genetically modified bacteria's environmental impact.

    Opportunities:

    Surge in funding for research and development

    Rising spending, investments, and research funding in the pharmaceutical market provide opportunities for growth. Pharmaceutical companies receive significant funding for new treatments, and government subsidies boost global competitiveness. This investment in R&D aims to develop revolutionary drugs for the healthcare sector.

    Increasing use of machine learning in research and development

    AI and machine learning are gaining traction as alternatives to systems biology in synthetic biology, enhancing analysis and decision-making. BigHat Biosciences and Merck are collaborating to develop an AI-enabled protein engineering platform.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Tool-Type Analysis

    Oligonucleotides & Synthetic DNA, Enzymes, Cloning Technology Kits, Synthetic Cells, Chassis Organisms, and Xeno-Nucleic Acids

    The oligonucleotides & synthetic DNA segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period.

    Technology-Type Analysis

    Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Cloning, Site-Directed Mutagenesis, Measurement & Modeling, Microfluidics, and Nanotechnology

    The genome engineering segment is expected to grow at the highest rate in the market during the forecast period.

    End-Use Industry-Type Analysis

    Medical, Industrial, Food & Agriculture, and Environmental

    The medical segment is expected to grow at the highest rate in the market over the forecast period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities.

    By Tool Type

    The market is segmented as oligonucleotides & synthetic DNA, enzymes, cloning technology kits, synthetic cells, chassis organisms, and xeno-nucleic acids. The oligonucleotides & synthetic DNA segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The growing demand for synthetic DNA, synthetic RNA, and synthetic genes, which are used in a wide range of research applications is propelling the segment’s market.

    By Technology Type

    The market is segmented as gene synthesis, genome engineering, sequencing, bioinformatics, cloning, site-directed mutagenesis, measurement & modeling, microfluidics, and nanotechnology. The genome engineering segment is expected to grow at the highest rate in the synthetic biology market, owing to its superior properties as compared to other technologies. Synthetic biology is a preferred choice in genome engineering as it offers ease and efficiency in genome editing and genome targeting.

    By End-Use Industry Type

    The market is segmented as medical, industrial, food & agriculture, and environmental. The medical segment is expected to grow at the highest rate in the market over the forecast period. With the growing population and increased life expectancy comes increased occurrence of disease, which demands better, newer, and more efficient modalities of treatments. Increasing focus towards research & development for better treatments along with huge private and public funding for the discovery of new therapies is a key factor driving the growth of the market for medical applications.

    Regional Analysis

    Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. This growth can be attributed to the presence of major synthetic biology companies in the region. Availability of funds for research from government organizations, advancing efforts to increase the output of the healthcare industry, rising demand for high-quality research tools for data reproducibility, and increasing focus on the development of personalized therapeutics are some prime factors driving the region’s synthetic biology market. In addition, the North America market accounted for more than 35% share in 2021 and is expected to grow at a substantial CAGR in the following years.

    Synthetic-Biology-Market-Regional-Analysis

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    Segmentation

    The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The synthetic biology market is segmented into the following categories:

    By tool type:

    • Oligonucleotides & Synthetic DNA
    • Enzymes, Cloning Technology Kits
    • Synthetic Cells
    • Chassis Organisms
    • Xeno-Nucleic Acids

    By technology type:

    • Gene Synthesis
    • Genome Engineering
    • Sequencing
    • Bioinformatics
    • Cloning
    • Site-Directed Mutagenesis
    • Measurement & Modeling
    • Microfluidics
    • Nanotechnology

    By end-use industry type:

    • Medical 
      • (End-Use Industry Type Analysis: Pharmaceuticals, Drug Discovery & Therapeutics, Artificial Tissue & Tissue Regeneration)
    • Industrial
      • (End-Use Industry Type Analysis: Biofuel and Renewable Energy, Industrial Enzymes, and Biomaterials & Green Chemicals)
    • Food & Agriculture
    • Environmental
      • (End-Use Industry Type Analysis: Bioremediation and Biosensing)

    By region:

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Synthetic-Biology-Market-Segments

    Click Here, to learn the market segmentation details.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the global synthetic biology market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the synthetic biology market.

    How lucrative is the future?

    The market forecast and trend data and emerging trends.

    Which regions offer the best sales opportunities?

    Global, regional and country-level historical data and forecasts.

    Which are the most attractive market segments?

    Market segment analysis and Forecast.

    Which are the top players and their market positioning?

    Competitive landscape and Market share analysis.

    How complex is the business environment?

    Porter’s five forces, PEST and Life cycle analysis.

    What are the factors affecting the market?

    Drivers & challenges.

    Will I get the information on my specific requirement?

    10% free customization.

    Report Customization

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players).
    • SWOT analysis of key players (up to 3 players).

    Segmentation

    • Current market segmentation of any one of the tool types by end-use industry types.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Recent Developments

    August 2022: Synthetic bio company Antheia raises $40m, announces new pilot plant.

    Thanks to $40m USD in financing from a number of investors, synthetic biology company Antheia is poised to make its plans for a pilot-scale manufacturing facility a reality. Read More...

    August 2022: Synlogic Announces Synthetic Biotic for Gout Developed in Partnership with Ginkgo Bioworks

    Synthetic Biotic and is the second product to advance to clinical development through a research collaboration between Synlogic and Ginkgo, following the investigational new drug candidate SYNB1353 for the potential treatment of homocystinuria (HCU).

    Frequently Asked Questions (FAQs)

    The global synthetic biology market size is estimated to grow from USD 12.18 billion in 2022 to USD 44.17 billion by 2028.

    Synthetic biology is an advanced technology that is developed from biology, engineering, chemistry, and computer science and mainly uses two approaches: top down approach and bottom up approach. The top-down approach involves the re-designing and fabrication of existing biological systems for producing synthetic products, whereas the bottom-up approach involves designing and construction of novel biological systems that do not exist in nature.

    The global synthetic biology market is expected to grow at a CAGR of 23.89% during the forecast period.

    Agilent Technologies, Inc., Amyris, Inc., Codexis, Inc., Creative Enzymes, Cyrus Biotechnology Inc., Eurofins Scientific, GenScript Biotech Corporation, Ginkgo Bioworks, Integrated DNA Technologies, Inc., New England Biolabs, Novozymes A/S, Precigen, Inc., Synthego Corporation, Synthetic Genomics, Inc., The Merck Group, Thermo Fisher Scientific Inc., and Twist Bioscience.

    Asia-Pacific is expected to remain the largest market during the next five years.

    Increasing use of synthetic biology for various applications such as biofuel development, protein therapeutics, personalized medicine, and synthetic drugs & vaccines is one of the prime factors contributing to the demand for synthetic biology.

    Synthetic Biology Market study period is 2017-2028.

    The medical segment is expected to grow at the highest rate in the market.