The Synthetic Biology Market size is expected to be worth around US$ 40.97 billion by 2030 from at US$ 10.88 billion in 2020, growing at a CAGR of 21.8% during forecast period 2021 to 2030.
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|Market Size||US$ 40.97 billion by 2030|
|Growth Rate||CAGR of 21.8% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Technology, Product, Application, End use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Bota Biosciences; Codexis, Inc.; Creative Biogene; Creative Enzymes; EnBiotix, Inc.; Eurofins Scientific; Illumina; Merck (Sigma Aldrich); New England Biolabs; Novozymes; Pareto Biotechnologies, Inc.; Scarab Genomics; Synthego; Synthetic Genomics; Thermo Fisher|
What are the Growth Factors?
Extensive applications of synthetic biology in multiple fields is a major impact rendering driver of the market. For instance, the technique is used for the development of biofuel from microorganisms in the bioenergy field.
Several market participants have produced materials and textiles with the use of synthetic biology. Bolt Threads, a material developing company that produced engineered spider silk ties, and Colorifix are developing dyes with biological systems. In addition, the market has provided the agriculture industry with alternative fertilizer options, which are not harmful. For instance, Pivot Bio, a California-based company, has established a technique of fertilizing crops without relying on a harmful polluting chemical process. Extending clinical applications of synthetic biology, the potential of the technique to accelerate drug development, and enhancing market competition are some key aspects driving the industry. The COVID-19 pandemic is set to drive applications and investments in this space.
By Product Analysis
Oligonucleotide/oligo pools and synthetic DNA were the largest revenue-generating product segment in 2020 and accounted for a revenue share of more than 35% in the same year.
The segment is anticipated to expand further growing at the fastest CAGR over the forecast period. The ability to design custom DNA oligos for experiments has created ample opportunities in the fields, such as molecular and synthetic biology.
Companies, such as Integrated DNA Technologies, Life Technologies, Operon, and Eurofins, are providing custom primer services. Furthermore, the decreasing cost of synthesis and rising demand for synthetic DNA, RNA, and genes that are used in various applications contribute to the segment’s growth.
The enzymes segment is also expected to register a significant CAGR over the forecast period. Companies are focusing on the efficient, cost-effective, and eco-friendly production of enzymes.
By Technology Analysis
The PCR technology segment accounted for the largest revenue share of more than 28% in 2020 due to the high usage of this technology as it is fast, convenient, easily reproducible, extremely specific, and highly sensitive.
PCR cloning is applied to gene cloning, DNA recombination, and gene quantification in synthetic biology workflows. Syno 2.0 platform offered by Synbio Technologies can efficiently clone target genes without relying on the restriction enzyme sites.
An increase in R&D for the development and launch of reagents also drives segment growth. In June 2021, a group of researchers from the U.S., U.K., and Ghana developed cellular reagents, which can substitute enzymes in molecular biology, diagnostic reactions, and common synthetic biology processes including qPCR and PCR.
The NGS technology segment is expected to register the fastest CAGR during the forecast period. The ability of NGS to synthesize DNA sequences from the start, along with new technologies such as CRISPR/Cas9, is enabling the targeted introduction of DNA sequences into living cells.
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By Application Analysis
The healthcare application segment accounted for the largest revenue share of more than 77% in 2020. Synthetic biology has offered significant advancements in the scale and scope of biopharmaceutical drug development.
Diagnostics based on synthetic biology provide a real-time, specific & sensitive, and noninvasive process for detecting cancer cells, infectious agents, and therapeutics. Researchers use rational engineering approaches to make novel biosensing systems that are dynamic and constituted of a sensor, processor, and reporter.
Bio-fuels is the largest revenue-generating, non-healthcare application. Synthetic biology has created the possible way for the fourth generation of biofuels. Researchers are involved in developing alternative biofuel molecules as these are expected to have the potential to reduce Greenhouse Gas (GHG) emissions.
By End-use Analysis
The biotechnology and pharmaceutical companies segment dominated the market with a revenue share of more than 51% in 2020. Synthetic biology has helped biotechnology and pharmaceutical companies to develop novel drugs, which can treat chronic conditions.
Various companies have used synthetic biology to engineer pathways that enable microorganisms to produce medically relevant drugs. For instance, Amyris Inc. engineered yeast strains to develop the antimalarial drug Artemenisin. Moreover, synthetic biology can also improve in-vitro drug production.
Technological advancements in this field further stimulate the growth of the market. Computational protein design develops proteins from scratch and makes calculated variants of protein design and variants of protein structure. Scientists can create innovative enzymes that are not common to nature.
By Regional Analysis
North America accounted for the largest revenue share of over 40% in 2020 due to the increased investments for the development of synthetic biology products, favorable regulations, and government assistance.
Rising support from the U.S. government & private institutions and increasing research and development investments in drug discovery and development are expected to propel the market growth over the forecast years.
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- Bota Biosciences
- Codexis, Inc.
- Creative Biogene
- Creative Enzymes
- EnBiotix, Inc.
- Eurofins Scientific
- Merck (Sigma Aldrich)
- New England Biolabs
- Pareto Biotechnologies, Inc.
- Scarab Genomics
- Synthetic Genomics
- Thermo Fisher
- By Product
- Oligonucleotide/Oligo pools and Synthetic DNA
- Cloning Technologies Kits
- Xeno-nucleic Acids
- Chassis Organism
- By Technology
- Genome Editing
- Bioprocessing Technology
- By Application
- Biotech Crops
- Specialty Chemicals
- By End-use
- Biotechnology & Pharmaceutical Companies
- Academic & Government Research Institutes
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- North America
The Synthetic Biology market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Synthetic Biology market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Synthetic Biology market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Synthetic Biology market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Synthetic Biology market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Synthetic Biology capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Synthetic Biology by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Synthetic Biology market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Synthetic Biology market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Synthetic Biology market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Synthetic Biology industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Synthetic Biology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Synthetic Biology market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Synthetic Biology market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Synthetic Biology market. These factors have benefited the growth of the global market for Synthetic Biology. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Synthetic Biology. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Synthetic Biology are as follows:
- History Year: 2017-2020
- Base Year: 2021
- Forecast Year 2021 to 2030
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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