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The Global Synthetic Biology Market size is estimated to grow by USD 28,253.12 million at a CAGR (Compound Annual Growth Rate) of 25.6% between 2022 and 2027. The growth of the market depends on several factors, including the growing applications of synthetic biology, the rising investments in processes and techniques, and the increasing demand for synthetic genes and synthetic cells.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing applications of synthetic biology are notably driving the market growth. Synthetic biology helps enhance the efficiency of products such as biochemicals, therapeutics, medicine, biofuels, and other bio-based substitutes. It can be used to design genes using genetic engineering in industries such as agriculture and F&B. In the future, synthetic will be used to develop medicines to fight chronic diseases such as diabetes and cancer.
The demand for food is rising with the rise in the global population. However, industrialization is leading to a decline in the area of cultivable land. This issue can be mitigated with the help of synthetic technology. This technology can be used to increase yield in low-cultivation land by enhancing properties such as efficient use of water and nutrients, nitrogen fixation and better resistance to pests, and photosynthetic performance. Thus, the increasing number of applications will drive the market growth during the forecast period.
The evolving regulatory framework around the product is one of the major key market trends. Governments of various countries across the world are working on creating standard guidelines, clear policies, and stringent regulations to tackle the risks associated with synthetic biology. In the US, the Toxic Substances Control Act (TSCA) deals with the potential human health and environmental impacts.
Europe has a cluster of policies at international, community, member state, and local levels. In APAC, many developing countries have not clearly defined synthetic biology, its applications, and its uses. For instance, India is yet to formally come up with its national strategy. The evolving regulatory framework is expected to promote investments, foster innovation, and ensure the safety and efficacy of products, which, in turn, will support market growth and trends during the forecast period.
Technical challenges may impede market growth. Biological systems are highly complex and do not have predictable linear behavior, as living systems are infinitely complicated. Moreover, moving from the cellular level to the system level increases the magnitude of complexity. Currently, the ability to design organisms is at a very nascent stage.
There are issues related to the deployment. Scientists and researchers have inadequate knowledge and understanding of synthetic technology. Moreover, biological functions are determined by genetic circuits, which are made of interacting proteins and genes. However, these circuits are often embedded in other complex circuits, and it is difficult to study the core design of the genes. Thus, technical challenges will hamper the growth of the market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agilent Technologies Inc. - The company offers synthetic biology solutions through its subsidiary Stratagene.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the healthcare segment will be significant during the forecast period. Engineered systems of genes and other molecular components created using synthetic biology can help in finding a cure for many health issues and boost the efficacy of medical treatments. Clinical applications are expected to expand in the next few years.
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The healthcare segment was valued at USD 3,404.40 million in 2017 and continued to grow until 2021. Synthetic biology has many clinical applications. For instance, professors at the Massachusetts Institute of Technology (MIT) have developed a paper that has embedded modified genetic machinery from a cell. In the UK, scientists have developed a two-step process to synthesize DNA that can be used in biological products. Thus, the healthcare segment will contribute a major share to the growth of the market during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is dominated by the US and Canada. The demand is expected to increase in the region owing to factors such as rising investments in synthetic biology companies, increasing demand for bio-based products, and the growing R&D funding. Moreover, governments in the region are trying to increase the output of the healthcare industry, with a high focus on developing personalized therapeutics as well as making high-quality research tools for data reproducibility. Thus, increasing support by government and private institutions is expected to drive the regional market during the forecast period.
The Synthetic Biology market is undergoing extensive Research Study, incorporating Industry Trend Analysis, Pricing Analysis, and Patent Analysis to understand key stakeholders' buying behavior. Government funding fuels innovation while addressing biosafety, biosecurity, and ethical concerns. Focus on Synthetic Biomedicine research aims to combat chronic disorders like HIV, enhancing quality of life. Initiatives like SynbiCITE and SynBioVen, alongside venture capital investments, foster startups and SMEs in the UK bioeconomy. Leveraging AI and ML in Systems Biology expedites design objectives, facilitating the discovery of therapeutic candidates. BigHat Biosciences leads in antibody discovery, protein engineering, and oligonucleotides & synthetic DNA segments, driving segment growth with novel products and chassis organisms.
The market research and growth report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Synthetic Biology Market Scope |
|
Market Report Coverage |
Details |
Page number |
175 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 25.6% |
Market growth 2023-2027 |
USD 28,253.12 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
25.35 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key countries |
US, UK, France, Germany, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agilent Technologies Inc., Algenol, Amyris Inc., CD Biosynsis, Codexis Inc., Creative Biogene, Eurofins Scientific SE, Genomatica Inc., GenScript Biotech Corp., Ginkgo Bioworks Holdings Inc., Illumina Inc., Merck KGaA, Novozymes AS, Sanofi SA, Twist Bioscience Corp., Danaher Corp., New England Biolabs Inc., Precigen Inc., Synthego Corp., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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