Jersey City, New Jersey, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The Global Synthetic Biology Market is projected to grow at a CAGR of 22.33% from 2022 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 10.42 Billion in 2021 and is expected to reach USD 63.78 Billion by the end of the forecast period.
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Browse in-depth TOC on “Synthetic Biology Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2018-2030 |
| BASE YEAR | 2021 |
| FORECAST PERIOD | 2022-2030 |
| HISTORICAL PERIOD | 2018-2020 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Cyrus Biotechnology, Precigen, GenScript Biotech, Integrated DNA Technologies, New England Biolabs, Thermo Fisher Scientific, Merck Group, Synthego Corporation, etc. |
| SEGMENTS COVERED | By Type, By Application, And By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Synthetic Biology Market Overview:
Innovative Gene Editing Technologies Fueling Synthetic Biology Market Growth:
The Synthetic Biology market is greatly stimulated by the extensive adoption of groundbreaking gene editing technologies, namely CRISPR. These techniques provide accurate manipulation of genetic material, accelerating research and development in several industries. As corporations utilize these advanced methods to create artificial creatures, the market experiences increased innovation and speedier product development, resulting in positive growth.
Strategic Investments and Collaborations Driving Synthetic Biology Market Expansion:
Strategic investments and collaborations are crucial in driving the advancement of the Synthetic Biology industry. The combination of augmented financial resources from private and public sectors, along with cooperative endeavors among research institutions and industry participants, establishes a favorable atmosphere for pioneering breakthroughs. These collaborations facilitate the sharing of knowledge and pooling of resources, which enhances research capacities and stimulates the growth of the Synthetic Biology market.
Rising Demand for Sustainable Solutions Boosts Synthetic Biology Market Applications:
The increasing need for environmentally-friendly solutions in the healthcare, agricultural, and energy industries serves as a powerful catalyst for the growth of the Synthetic Biology market. Synthetic biology's capacity to tackle environmental and societal issues, such as the creation of biofuels, bioplastics, and tailored medicine, is in line with the increasing global focus on sustainability. The increased demand drives the market forward by enabling various applications and promoting the growth of environmentally friendly alternatives.
Convergence of Biology and Technology Unleashing Potential in Synthetic Biology Market:
The fusion of biology and technology is becoming a powerful catalyst, unleashing unparalleled opportunities in the Synthetic Biology sector. The increasing sophistication of synthetic creatures is a result of the convergence of breakthroughs in biotechnology and computational techniques with biological systems. This convergence not only speeds up research but also broadens the range of applications, placing the Synthetic Biology market at the forefront of advanced innovation.
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Synthetic Biology Market Key Players Shaping the Future
Major players, including Cyrus Biotechnology, Precigen, GenScript Biotech, Integrated DNA Technologies, New England Biolabs, Thermo Fisher Scientific, Merck Group, Viridos, Codexis,, Synthego Corporation, and more, play a pivotal role in shaping the future of the market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Key Developments:
- In September 2021, Cyrus Biotechnology announced a collaboration with Selecta Biosciences for the formation of Therapeutic Proteins. The Novel interleukin-2 (IL-2) technologies will lead to advanced innovation in therapeutic developments.
- In November 2020, Codexis announced a collaboration with Casdin Capital to launch the Synthetic Biology Innovation Accelerator. It will be useful to develop unique product capabilities in the biotech industry.
To get market data, insights, and a comprehensive Global Synthetic Biology Market analysis, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Synthetic Biology Market into Type, Application, And Geography.
- Synthetic Biology Market, by Type
- Core Products
- Enabling Products
- Synthetic Biology Market, by Application
- Pharmaceuticals
- Protein Therapeutics
- Medical Industry
- Artificial Tissue Regeneration
- Food & Agriculture
- Others
- Synthetic Biology Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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