Raipur, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Synthetic Biology Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Synthetic Biology market is driven by a host of factors, some of which are noted below:
- Increasing use of synthetic biology for various applications such as biofuel development, protein therapeutics, personalized medicine, and synthetic drugs & vaccines.
- Large-scale adoption of synthetic biology coupled with decreasing cost of DNA sequencing & synthesis of genes resulting in increasing investment in companies and start-ups.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Synthetic Biology Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- Tool Type
- Technology Type
- End-Use Industry Type
- Region
Synthetic Biology Market Insights
Market Trends 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 2019 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.
Market Trends by Technology Type
The synthetic biology 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 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.
Which region offers the best opportunity and growth?
In terms of regions, 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 development of personalized therapeutics are some prime factors driving the region’s synthetic biology market.
In addition, North America market accounted for >40% share in 2021 and is expected to grow at a substantial CAGR in the following years.
COVID-19 Impact on the Synthetic Biology Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
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Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- 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.
What deliverables will you get in this report?
- In-depth analysis of the Synthetic Biology Market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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