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Global Synthetic Biology Market Size, Share, Trends, COVID-19 Impact, Growth Analysis Report – Segmented By Tool, Technology, Application and Region - Industry Forecast (2023 to 2028).

Published: March, 2023
ID: 7556
Pages: 175
Formats: report pdf report excel report power bi report ppt

Synthetic Biology Market Size (2023 to 2028)

As per our report, the global synthetic biology market size is forecasted to grow at a CAGR of 24.1% from 2023 to 2028. The market is estimated to be worth USD 25.13 billion by 2028 from USD 8.53 billion in 2023. The rising focus on the Asia-Pacific market due to the low-cost manufacturing advantage provides a growth opportunity for manufacturers.

Synthetic Biology Market Share Insights:

  • Based on tool, Oligonucleotide synthetic segment held the largest market share in 2022 and is expected to dominate during the forecast period.
  • Based on Technology, enabling technologies segment led the global synthetic biology market in 2022 and is anticipated to maintain the same pace during the forecast period.

MARKET DRIVERS:

The synthetic biology market across different end-use sectors, including agriculture, chemicals, and healthcare, are robust applications that drive the synthetic biology market growth. The worldwide energy crisis, fossil fuel depletion, and growing pollution are growing demand which promotes market growth. The increased demand for biofuels and investments in the market also prompts the need for the global synthetic biology market. 

Synthetic biology also plays a vital role in the farming industry by modifying crop genomes to grow them faster and healthier. In cancer, cells divide infinitely, so the cure for cancer can be achieved by synthetic biology. It is also used to find alternatives to fuel, like biofuels, decreasing pollution levels as it does not produce toxic gases after combustion. It is making the market move forward extensively.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Tool, Technology, Application, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

This market research report on the global synthetic biology market has been segmented and sub-segmented based on the tool, technology, application, and region.

Synthetic Biology Market - By Tool:

  • Chassis Organisms
  • Cloning & Assembly Kits
  • Oligonucleotide Synthesis
  • Enzymes
  • Xeno Nucleic Acid

Based on tool type, Oligonucleotide synthetic had the largest market share in 2022. The rising demand for oligonucleotides in diagnostic centers and growing government investment in pharmaceutical & biotechnology companies for research and development propel the need for this segment. Rising demand for RNA, synthetic DNA, and Synthetic genes can attribute the growth of the market. Also, the Enzyme is the fastest-growing segment in the synthetic biology market. 

Synthetic Biology Market - By Technology:

Synthetic Biology Market - By Application:

  • Medical
  • Environmental
  • Industrial

Synthetic Biology Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

KEY MARKET PLAYERS:

Key market participants dominating the global synthetic biology market are Dupont, Intrexon Corporation, Amyris, Inc., Genscript USA, Inc., Integrated DNA Technologies (IDT), Inc., Novozymes, Royal DSM N.V., New England Biolabs, Inc., Synthetic Genomics, Inc. and Thermo Fisher Scientific, Inc.

RECENT MARKET DEVELOPMENTS:

  • In 2020, Carbios had a partnership with Novozymes to produce proprietary PET-degrading enzymes at a domestic and industrial scale. The company can provide effective techniques to the end-users in the coming years. 
  • In 2020, Twist Biosciences launched its new next-generation sequencing solutions that include protein gene coding. It continues to meet and provide all facilities to the customer, such as high-quality DNA that helps with uniform sequencing. 
  • In 2019, Agilent technologies acquired BioTek to expand its business in cell analysis. Agilent wants to deliver more in-depth unique cell analysis to patients and expand theirbio-pharma, academic, and research centers.

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FAQ's

What was the size of the synthetic biology market worldwide in 2022?

The global synthetic biology market size was valued at USD 6.88 billion in 2022. 

Which region is growing the fastest in the global synthetic biology market ?

Geographically, the North American synthetic biology market accounted for the largest share of the global market in 2022. 

At What CAGR, the global synthetic biology market is expected to grow from 2023 to 2028?

The global synthetic biology market is estimated to grow at a CAGR of 24.10% from 2023 to 2028. 

Which are the significant players operating in the synthetic biology market ?

Genscript USA, Inc., Integrated DNA Technologies (IDT), Inc., Novozymes, Royal DSM N.V., New England Biolabs, Inc., and Synthetic Genomics, Inc are some of the significant players operating in synthetic biology market.

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