WASHINGTON, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The Global Synthetic Biology Market is valued at USD 10.11 Billion in 2021 and is projected to reach a value of USD 32.73 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 27.1% over the forecast period 2022-2028.
Market Overview
One of the primary elements fostering a favorable outlook for the market is the significant increase in the biotechnology sector worldwide. The synthetic biology market is anticipated to perform well due to several key factors, including a growing population and changing eating habits.
We forecast that the synthetic DNA category in synthetic biology market to grow over the forecast period 2022-2028. The growth is attributed to an extensive market penetration rate owing to wide use in Research and Development (R&D) and more commercialization than any other product segment.
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What is Synthetic Biology?
Synthetic biology is an interdisciplinary field that combines engineering principles with molecular biology to design and construct new biological parts, devices and systems that don't exist in nature. The goal of synthetic biology is to make biology easier to engineer, with the aim of creating new biological functions, advancing our understanding of life, and developing applications for biotechnology, medicine, and environmental sustainability.
Synthetic Biology Market Sample Report Includes
- Introduction: A brief overview of synthetic biology and its applications.
- Background: A historical overview of the development of synthetic biology and the key milestones in its evolution.
- Methods: An explanation of the tools and techniques used in synthetic biology, such as DNA synthesis, genetic engineering, and metabolic engineering.
- Applications: A discussion of the various applications of synthetic biology, including bioremediation, biofuels, vaccines, and therapeutic proteins.
- Challenges and Limitations: An examination of the challenges and limitations facing the field of synthetic biology, such as safety concerns, ethical considerations, and the need for further research.
- Future Developments: A discussion of the future developments and advancements expected in the field of synthetic biology, including new applications and technological advancements.
- Conclusion: A summary of the key findings and conclusions of the report, and a discussion of the importance of synthetic biology for the future.
The report may also include supporting figures, tables, and references to support the findings and conclusions.
Top Players in the Global Synthetic Biology Market
- Thermo Fisher Scientific Inc. (US)
- Merck KGaA (Germany)
- Ginkgo Bioworks (US)
- Agilent Technologies Inc. (US)
- Amyris (US)
- Novozymes A/S (Denmark)
- Precigen Inc. (US)
- Twist Bioscience (US)
- GenScript (China)
- Codexis (US)
- Synthego (US)
- Synthetic Genomics (US)
- Creative Enzymes (US)
- Eurofins Scientific (Luxembourg)
For Additional Information on Synthetic Biology Market Players and Detail List, Download a Report PDF Brochure
Synthetic Biology Market Dynamics
Growing demand for biotechnology products: The demand for biotechnology products, such as vaccines, therapies, and industrial enzymes, is growing rapidly, driving the growth of the synthetic biology market.
Increasing funding and investment: Governments and private organizations are investing heavily in the research and development of synthetic biology, driving the growth of the market.
Technological advancements: The rapid advancement of technology in the field of synthetic biology is enabling the development of new and improved products and applications, driving market growth.
Rising awareness and interest: Increasing public awareness and interest in synthetic biology is driving demand for its applications, such as sustainable fuels, bioremediation, and personalized medicine.
Favorable government regulations: Governments are implementing favorable regulations and policies to support the development and commercialization of synthetic biology products, driving market growth.
Synthetic Biology Market Restraints
Ethical concerns: Synthetic biology raises a number of ethical concerns, such as the potential for the release of genetically modified organisms into the environment, and the potential for the creation of new organisms with unknown consequences.
Safety concerns: The release of genetically modified organisms into the environment and the use of synthetic biology in medical applications raise safety concerns, and there is a need for strict regulations to ensure the safety of the public and the environment.
High cost of research and development: Developing synthetic biology products is a complex and costly process, requiring significant investment in research and development.
Technical challenges: Synthetic biology is a rapidly evolving field, and technical challenges remain in developing new products and applications.
Lack of public understanding: There is a lack of public understanding of synthetic biology, and many people remain concerned about the potential risks and benefits of this field.
Competition from established industries: Synthetic biology faces competition from established industries, such as the chemical and pharmaceutical industries, which may limit its growth.
Despite these challenges, the synthetic biology market is expected to continue growing in the coming years, driven by increasing demand for biotechnology products, growing investment in research and development, and favorable government regulations.
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Synthetic Biology Market Future Trends
Rising interest in sustainable fuels: The increasing demand for sustainable fuels is driving interest in the development of biofuels using synthetic biology.
Personalized medicine: The use of synthetic biology in personalized medicine is growing, as the development of therapies tailored to individual patients becomes more feasible.
Collaboration and partnerships: There is increasing collaboration and partnerships among companies and academic institutions in the synthetic biology market, driving market growth.
Browse Market Data Tables and Figures spread through 173 Pages and in-depth TOC on Synthetic Biology Market Forecast Report (2022-2028).
Synthetic Biology Market Segmentation
By Product
- Core Products
- Enabling Products
- Enabled Products
By Applications
- Healthcare
- Chemicals (Including Bio-Fuels)
- Food and Agriculture
- Other Applications (Biosecurity, Energy and Environment)
Future of Synthetic Biology Market By Vantage Market Research
The future of synthetic biology is expected to be very promising, with ongoing advancements and innovations expected to drive growth in several key areas. Synthetic biology is expected to play a significant role in the development of new and improved biotechnology and pharmaceutical products, such as vaccines, therapies, and industrial enzymes, the development of sustainable fuels, such as biofuels, as demand for sustainable energy sources continues to grow.
Synthetic biology is expected to be increasingly used in personalized medicine, enabling the development of therapies tailored to individual patients. It is expected to play a role in the development of new and improved methods for environmental bioremediation, such as the cleanup of contaminated sites. Synthetic biology is expected to play a role in the development of new and improved agricultural technologies, such as crops with improved yield and resistance to pests and diseases.
Overall, the future of synthetic biology is expected to be bright, with ongoing advancements and innovations driving growth in key areas such as biotechnology and pharmaceuticals, sustainable fuels, personalized medicine, environmental bioremediation, and agriculture.
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Top 3 Companies in Synthetic Biology Market Profiles
1. Thermo Fisher Scientific Inc. is a leading life sciences company that is involved in the field of synthetic biology. The company provides a range of products and services for the research and development of synthetic biology, including:
- Reagents and consumables: Thermo Fisher provide a range of reagents and consumables for the synthesis, assembly, and cloning of DNA sequences.
- Instrumentation: The company offers a range of instruments and platforms for the analysis and manipulation of DNA sequences, including PCR, sequencing, and gene editing instruments.
- Services: Thermo Fisher provides a range of services for the research and development of synthetic biology, including custom synthesis and assembly of DNA sequences, and support for gene editing projects.
- Software and data analysis tools: The company provides a range of software and data analysis tools for the analysis and interpretation of DNA sequence data.
Overall, Thermo Fisher Scientific is a key player in the field of synthetic biology, providing a range of products and services for the research and development of synthetic biology. The company's expertise and resources in the field make it a leader in the development of new and improved synthetic biology applications and technologies.
2. Merck KGaA, Darmstadt, Germany is a leading science and technology company based in Europe. It operates in the pharmaceuticals, life sciences, and performance materials businesses, providing products and services to customers in more than 70 countries. The company has a long history dating back to 1668 and is one of the oldest pharmaceutical and chemical companies in the world.
- In the pharmaceuticals business, Merck KGaA develops and markets innovative therapies and treatments for diseases such as cancer, multiple sclerosis, and infertility. In the life sciences business, the company provides products and services for the research and development of biotechnology and pharmaceuticals, including reagents, consumables, instrumentation, software, and services.
- In the performance materials business, Merck KGaA provides advanced materials for a range of applications, including electronics, automotive, and cosmetics. The company's products and technologies help to improve performance and efficiency in a variety of industries, and help to make the world a better place by addressing global challenges such as sustainability and energy efficiency.
Overall, Merck KGaA is a leading science and technology company that provides innovative products and services to customers in a range of industries, making a positive impact on the world through its research and development efforts.
3. Agilent Technologies Inc. is a multinational technology company headquartered in Santa Clara, California. The company provides a wide range of products and services for various industries, including life sciences, diagnostics, and chemical analysis.
- In the life sciences field, Agilent provides solutions for gene expression analysis, genotyping, and DNA sequencing. The company also offers a range of instruments and reagents for the research and development of pharmaceuticals and biotechnology, including systems for protein analysis and characterization, and reagents for cell culture and bioprocessing.
- In the diagnostics field, Agilent provides products and services for clinical diagnostics, including systems for blood typing, infectious disease testing, and cancer diagnostics. The company also provides a range of assays and reagents for use in research and development of new diagnostic tests.
- In the chemical analysis field, Agilent provides a range of instruments and reagents for the analysis of chemicals, including chromatography systems, mass spectrometry systems, and sample preparation products.
Overall, Agilent Technologies is a leading provider of products and services for a range of industries, and is dedicated to advancing scientific discovery and improving human health through its innovative technology solutions.
Synthetic Biology Market Recent Development
- In November 30, 2021: GenScript expands gene synthesis manufacturing capacity in the United States with a fully automated oligo synthesis and sequencing platform.
- In January 31, 2022: DNA synthesis company Ribbon Biolabs has raised Series A financing of €18 million. The company enabled the United States expansion for commercial-scale production facilities and DNA synthesis technology with this fund.
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Synthetic Biology Market Regional Analysis
The synthetic biology market has been segmented into different regions, including North America, Europe, Asia Pacific, and Rest of the World.
North America is one of the largest markets for synthetic biology, with a strong presence of key players in the field and a high demand for synthetic biology products and services. The region is home to a number of universities and research institutions that are active in the field of synthetic biology, as well as a large number of biotechnology and pharmaceutical companies that are involved in the research and development of new synthetic biology applications.
Europe is another significant market for synthetic biology, with a strong focus on research and development in the field. The region is home to a number of key players in the synthetic biology market, including Merck KGaA and Agilent Technologies. The European Commission has also launched initiatives aimed at supporting the growth of the synthetic biology market, such as the European Synthetic Biology Platform, which provides funding and resources for synthetic biology research.
Asia Pacific is an emerging market for synthetic biology, with increasing interest in the field and a growing number of companies and research institutions active in the region. The Asia Pacific region is home to a large number of biotechnology and pharmaceutical companies, as well as a rapidly growing economy and a growing middle class that is driving demand for new and innovative healthcare solutions.
Overall, the synthetic biology market is a rapidly growing industry, with strong growth potential in all regions of the world. The field is driven by advances in technology, increasing demand for new and improved healthcare solutions, and a growing focus on sustainability and environmental responsibility.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 10.11 Billion |
| Revenue Forecast by 2028 | USD 32.73 Billion |
| CAGR | 27.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Thermo Fisher Scientific, Inc. (US), Ginkgo Bioworks (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Novozymes A/S (Denmark), Precigen, Inc. (US), Amyris (US), |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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