Newark, Nov. 22, 2022 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the USD 11.88 billion in 2022 synthetic biology market will reach USD 55.71 billion by 2030. The scientific breakthroughs, innovations and discoveries in cellular biology have expanded the scope of the application of synthetic biology. The use of synthetic biology to develop synthetic meat for the rising vegan population is witnessing a rise in recent times. The technology is also being used to create several proteins and genes to develop medications, therapeutics and treatments in the healthcare sector. The use of synthetic biology to impart microorganisms with abilities to mitigate pollutants from the environment will witness an exponential given the rising levels of pollution in urban settlements. Furthermore, the looming energy crisis will fuel the market's growth by increasing biofuel demand. The agriculture sector will also contribute to the market's demand by offering a market for green chemicals.
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Key Insight of the Synthetic Biology Market
The Asia Pacific is expected to grow the fastest during the forecast period.
The Asia Pacific market is anticipated to develop the fastest during the projected period. China dominates the Asia Pacific synthetic biology market. The increasing investments of the Chinese government in synthetic biology to gain a competitive edge against the USA and capture the global market to assert their dominance is a primary factor contributing to the region's growth. The region's developing countries realized the importance of domestic or indigenous capabilities in critical sectors such as agriculture, healthcare, energy and utilities during the COVID-19 pandemic. Therefore, countries like India and Japan are shoring up their fiscal funding in the healthcare, pharmaceuticals, and energy sector to develop resilient domestic infrastructure. Synthetic biology is one field that has received attention in the face of the looming climate and energy crisis. The market will witness significant growth given increased government support.
The PCR technology segment will augment the synthetic biology market during the forecast period.
The technology segment is divided into gene synthesis, sequencing, site-directed mutagenesis, measurement and modelling, nanotechnology, genome engineering, bioinformatics, cloning, microfluidics, NGS technology, bioprocessing, PCR technology, and others. The PCR technology segment dominated the market with a revenue share of around 37% in 2022.
The synthetic DNA & oligonucleotides segment dominated the global synthetic biology market in 2022.
The product type is divided into synthetic DNA & oligonucleotides, software tools, chassis organisms, synthetic genes, synthetic clones, and synthetic cells. The synthetic DNA & oligonucleotides segment dominated the market with a market share of around 39% in 2022.
The healthcare segment dominated the global synthetic biology market in 2022.
The application is divided into healthcare and non-healthcare. The healthcare segment dominated the market with a market share of around 59% in 2022.
The biotechnology & pharmaceutical companies segment dominated the global synthetic biology market in 2022.
The end user is divided into biotechnology & pharmaceutical companies and academic & government research institutes. The biotechnology & pharmaceutical companies segment dominated the market with a market share of around 55% in 2022.
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Scope of the Report:
| Report Metrics | Details |
| Market size available for years | 2019–2030 |
| Base year considered | 2021 |
| Forecast period | 2022–2030 |
| Market Size in 2022 | $11.88 billion |
| Projected Market Value in 2030 | $55.71 billion |
| CAGR | 21.31% From 2022 to 2030 |
| Segments covered | Technology, Product Type, Application, End User |
| Geographies covered | North America, Asia Pacific, Europe, Middle East and Africa, and Latin America |
| Companies covered | Bota Biosciences Inc., Creative Enzymes, Eurofins Scientific, Illumina Inc., Integrated DNA Technologies, Merck, Novozymes, Origene Technologies, Pareto Biotechnologies, Thermos Fisher Scientific Inc. |
Advancement in market
October 2022 –The Wuhan Synthetic Biology Innovation Center project, a collaboration between CABIO Biotech (Wuhan), the Wuhan Institute of Industrial Innovation and Development, and the Hubei Yangtze Science Innovation Service, held its ground-breaking ceremony on October 22 2022. It seeks to effectively broaden the applications of synthetic biology technologies, advance industry standardization, increase research achievement transformation efficiency, develop comprehensive synthetic biology scientific and technological innovation and industry transformation systems, and establish itself as an internationally renowned and nationally preeminent innovation hub devoted to the development of the synthetic biology sector. The centre will help Wuhan create a world-class, trillion-yuan-scale greater health industry cluster, support the high-quality growth of Hubei Province's biology sector, and boost Chinese synthetic biology technologies' internationalization efforts.
Market Dynamics
Driver: Increasing research and development expenditure
There is a growing need to apply synthetic biology to create more climate-tolerant crops due to the rise in incidences of extreme weather events devastating crops. The funding for research and development in synthetic biology has expanded due to the growing disease, pollution, and climate change crises. The additional funding is being used to investigate synthetic biotechnology's potential uses, including those in biofuels, green chemicals, and other energy-related industries and those in medicine, agriculture, and the life sciences. Synthetic biology is increasingly being used in various industries that want to reduce their carbon footprints to prevent further increases in global temperature. This is due to its potential to mimic the properties of necessary chemicals and materials without having any negative environmental effects. As a result, synthetic biology will drive the market due to the growing research and development in the field.
Restraint: Growing concerns regarding the weaponization of the synthetic biology field
There is a considerable possibility of genetically modified organisms escaping into the environment and wreaking havoc from synthetic biology research labs. They can mutate, infect people, harm the environment, or both. It is important to put the right regulatory controls in place to prevent the overuse of synthetic biology. However, the lack of information, rules and international cooperation in the synthetic sector may result in its misuse, which will have long-term effects on people and the environment. Scientific communities and a select number of international organizations are aware of these effects. They have provided funding for initiatives that explore the moral implications of the synthetic biology industry, which will restrain market expansion.
Opportunities: Rising demand for biofuels
The overexploitation of fossil fuels has led to scarcity and global temperature rise in the past decades, which has had disastrous effects. The public is currently experiencing these consequences in the form of increased frequency of heat waves, storms, and floods. Crude oil and gas are major causes of climate change, and the world is still heavily dependent on them. Therefore, increasing research investments and other initiatives to create biofuels as a substitute are being witnessed globally to stop future environmental devastation. Given the rising need for sustainable development measures, the global synthetic biology industry is anticipated to have profitable growth prospects in the future.
Challenge: Inadequate research infrastructure
The infrastructure needed to study the potential uses of synthetic biology is lacking in low- and middle-income nations. The risk of infections or harmful organisms being released into the environment is increased by inadequate infrastructure with proper safety measures. The likelihood that the nation will establish a new branch of life sciences is further diminished by the decreasing share of financing allocated to research and development in fiscal budgets. This discourages young people from pursuing scientific careers in the field of biotechnology. As a result, the market's expansion will be hampered by a lack of infrastructure.
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Some of the major players operating in the synthetic biology market are:
• Bota Biosciences Inc.
• Creative Enzymes
• Eurofins Scientific
• Illumina Inc.
• Integrated DNA Technologies
• Merck
• Novozymes
• Origene Technologies
• Pareto Biotechnologies
• Thermos Fisher Scientific Inc.
Key Segments cover in the market:
By Technology
• Gene Synthesis
• Sequencing
• Site-Directed Mutagenesis
• Measurement and Modelling
• Nanotechnology
• Genome Engineering
• Bioinformatics
• Cloning
• Microfluidics
• NGS Technology
• Bioprocessing
• PCR Technology
• Others
By Product Type
• Synthetic DNA & Oligonucleotides
• Software Tools
• Chassis Organisms
• Synthetic Genes
• Synthetic Clones
• Synthetic Cells
By Application
• Healthcare
• Non-Healthcare
By End User
• Biotechnology & Pharmaceutical Companies
• Academic & Government Research Institutes
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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