Synthetic Biology Market Size & Share to Surpass $85.97 Billion by 2030 | Vantage Market Research


WASHINGTON, April 17, 2023 (GLOBE NEWSWIRE) -- The Global Synthetic Biology Market is valued at USD 12.70 Billion in 2022 and is projected to attain a value of USD 85.97 Billion by 2030 at a CAGR of 27.00% during the forecast period, 2023–2030.

Market Overview

Synthetic biology is a multidisciplinary field that involves the design and engineering of biological systems and organisms to perform specific functions. The synthetic biology market has been growing rapidly over the past few years and is expected to continue to do so in the future.

The growth of the synthetic biology market is primarily driven by the increasing demand for sustainable and cost-effective solutions for various applications such as healthcare, agriculture, food and beverage, and energy. Synthetic biology has the potential to address many of the challenges faced by these industries by providing novel solutions that are efficient and environmentally friendly.

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Market Dynamics

  • Increasing demand for new and improved healthcare products and services: The global population is aging and the incidence of chronic diseases is increasing. This is driving the demand for new and improved healthcare products and services. Synthetic biology can be used to develop new drugs, vaccines, and diagnostics that can help to treat and prevent these diseases.
  • Need to develop more sustainable agricultural practices: The global population is growing and the demand for food is increasing. This is putting a strain on the environment and natural resources. Synthetic biology can be used to develop new crop varieties that are more productive and resilient to pests and diseases. This can help to reduce the environmental impact of agriculture and increase food security.
  • Growing interest in renewable energy sources: The world is facing a growing energy crisis. Fossil fuels are a finite resource and they are also a major source of greenhouse gas emissions. Synthetic biology can be used to develop new renewable energy sources, such as biofuels and solar cells. This can help to reduce our reliance on fossil fuels and mitigate climate change.
  • Increasing availability of funding for synthetic biology research and development: Governments and private investors are increasingly funding synthetic biology research and development. This is due to the potential of synthetic biology to address some of the world's most pressing challenges.
  • Development of new and improved synthetic biology tools and technologies: Synthetic biology is a rapidly evolving field. New and improved tools and technologies are being developed all the time. This is making it easier and cheaper to design and build new biological systems.

Top Players in the Global Synthetic Biology Market

  • Thermo Fisher Scientific Inc. (US)
  • Merck KGaA (Germany)
  • Agilent Technologies Inc. (US)
  • Novozymes A/S (Denmark)
  • Ginkgo Bioworks (US)
  • Amyris (US)
  • Precigen Inc. (US)
  • GenScript (China)
  • Twist Bioscience (US)
  • Synthetic Genomics (US)
  • Codexis (US)
  • Synthego (US)
  • Creative Enzymes (US)
  • Eurofins Scientific (Luxembourg)

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Top Report Findings

  • The global synthetic biology market size was valued at USD 12.70 billion in 2022 and is expected to reach USD 85.97 billion by 2030, growing at a CAGR of 27.00 % from 2023 to 2030.
  • Healthcare is the largest segment of the synthetic biology market, accounting for over 50% of the total market share. Within healthcare, synthetic biology is being used to develop new drugs, vaccines, and diagnostic tools, as well as to improve the production of existing pharmaceuticals.
  • North America is the largest market for synthetic biology, followed by Europe and Asia-Pacific. The presence of a large number of biotech and pharmaceutical companies, as well as academic research institutions, in these regions has contributed to the growth of the synthetic biology market.
  • The increasing demand for sustainable and cost-effective solutions for various applications such as healthcare, agriculture, food and beverage, and energy is driving the growth of the synthetic biology market.
  • Technological advancements in synthetic biology have led to the development of new tools and techniques for gene editing, DNA synthesis, and other molecular biology techniques, enabling researchers and companies to engineer biological systems and organisms with greater precision and efficiency.
  • Investment in R&D activities in the field of synthetic biology is increasing, with governments, academic institutions, and private companies investing heavily in research and development, leading to the emergence of new players in the market, as well as the development of new applications and solutions for synthetic biology.
  • The synthetic biology market faces challenges such as ethical and safety concerns, regulatory challenges, and the need for greater public awareness and education about the field. These challenges may slow down the growth of the market, as companies and researchers navigate these issues and work to address them.

Top Trends in Global Synthetic Biology Market

  • The development of new and improved synthetic biology tools and technologies: New and improved synthetic biology tools and technologies are being developed all the time, making it easier and cheaper to design and build new biological systems. This is driving the growth of the synthetic biology market.
  • The increasing availability of funding for synthetic biology research and development: Governments and private investors are increasingly funding synthetic biology research and development. This is due to the potential of synthetic biology to address some of the world's most pressing challenges.
  • The growing interest in synthetic biology from the healthcare industry: The healthcare industry is one of the largest and fastest-growing markets for synthetic biology. Synthetic biology can be used to develop new drugs, vaccines, and diagnostics that can help to treat and prevent diseases.
  • The growing interest in synthetic biology from the agriculture industry: The agriculture industry is another large and growing market for synthetic biology. Synthetic biology can be used to develop new crop varieties that are more productive and resilient to pests and diseases. This can help to reduce the environmental impact of agriculture and increase food security.
  • The growing interest in synthetic biology from the energy industry: The energy industry is also a large and growing market for synthetic biology. Synthetic biology can be used to develop new renewable energy sources, such as biofuels and solar cells. This can help to reduce our reliance on fossil fuels and mitigate climate change.

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Regional Analysis

  • North America is the largest market for synthetic biology, accounting for the majority of the global market share. The presence of a large number of biotech and pharmaceutical companies, as well as academic research institutions, in the region has contributed to the growth of the synthetic biology market. The United States is the largest market in the region, with a significant amount of investment in R&D activities in the field of synthetic biology.
  • Europe is the second-largest market for synthetic biology, with a significant presence of academic research institutions and biotech and pharmaceutical companies in the region. The United Kingdom, Germany, and France are the largest markets in the region, with significant investment in R&D activities in the field of synthetic biology.
  • The Asia-Pacific region is expected to witness significant growth in the synthetic biology market, driven by increasing investment in R&D activities, the emergence of new players in the market, and growing demand for sustainable solutions in various industries. China, Japan, and India are the largest markets in the region, with significant investment in the field of synthetic biology.
  • Latin America and the Middle East and Africa are also expected to witness significant growth in the synthetic biology market, driven by the increasing demand for sustainable solutions in various industries and the emergence of new players in the market.

Browse market data Tables and Figures spread through 173 Pages and in-depth TOC on Synthetic Biology Market Forecast Report (2023-2030).

Global Synthetic Biology Market Segmentation

By Tool

  • Enzymes
  • Synthetic Cells
  • Oligonucleotides and Synthetic DNA
  • Cloning Technology Kits
  • Xeno-nucleic Acids
  • Chassis Organisms

By Technology

  • Sequencing
  • Cloning
  • Gene Synthesis
  • Genome Engineering
  • Bioinformatics
  • Microfluidics
  • Nanotechnology
  • Site-directed Mutagenesis
  • Measurement and Modelling

By Application

  • Medical Application
  • Industrial Application
  • Environmental Application
  • Artificial Tissue and Tissue Regeneration
  • Food and Agriculture

By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-East Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

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Scope of the Report:    

Report AttributesDetails
Market Size in 2022USD 12.70 Billion
Revenue Forecast by 2030USD 85.97 Billion
CAGR27.00% from 2023 to 2030
Base Year2022
Forecast Year2023 to 2030
Key PlayersThermo Fisher Scientific, Inc., Merck KGaA, Agilent Technologies, Inc., Novozymes A/S, Ginkgo Bioworks, Amyris, Precigen, Inc., GenScript, Twist Bioscience, Synthetic Genomics, Codexis, Synthego, Creative Enzymes, Eurofins Scientific
Customization OptionsIf our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/synthetic-biology-market-1255/request-sample

The key questions answered in the Synthetic Biology Market Report are:

  • What is the current market size of the synthetic biology market and what is the expected growth rate over the forecast period?
  • What are the major drivers, challenges, and opportunities in the synthetic biology market?
  • What are the key trends and developments in the synthetic biology market?
  • What are the different applications of synthetic biology and what are their market shares?
  • Who are the major players in the synthetic biology market and what are their market shares?
  • What are the major geographic regions in the synthetic biology market and what are their market shares?
  • What are the regulatory and ethical considerations associated with the use of synthetic biology and how are they expected to impact the market?
  • What are the key strategies adopted by the major players in the synthetic biology market to maintain their market position and competitiveness?
  • What are the major challenges and opportunities faced by new entrants in the synthetic biology market?
  • What are the potential future scenarios and how are they expected to impact the synthetic biology market?

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