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Global Synthetic Biology Market is Experiencing Tremendous Growth: A Report by Absolute Markets Insights

Published On 27 May 2022 01:15 PM


Synthetic biology is a branch of science concerned with redesigning organisms for useful purposes by genetically engineering them to have new abilities. Researchers and companies all over the world are harnessing nature's power to solve problems in medicine, manufacturing, and agriculture. Synthetic biology is the convergence of discoveries in chemistry, biology, computer science, and engineering that allows to go from idea to product faster, cheaper, and more precisely than ever before. Nowadays, researchers are continuing to push the boundaries of existing DNA-synthesis technology in order to better understand how genomes function. Some of the major market participants are collaborating with other players and are contributing for the market growth. For example, Codex DNA, Inc., an automated bench top synthetic biology system, announced a collaboration with researchers from the United States Department of Agriculture's (USDA) Agricultural Research Service (ARS), Cornell University, the University of Florida, the University of California at Riverside, and AgroSource, Inc., in August 2021, to identify scalable greening of citrus. Citrus greening disease, commonly known as Huanglongbing, is a destructive bacterial disease that affects citrus plants worldwide. Moreover, rising R&D funding and growing initiatives in synthetic biology, as well as increased market investments, are propelling the synthetic biology market's growth. However, biosafety, biosecurity, and ethical concerns about synthetic biology would likely hinder the market's growth.

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Global Synthetic Biology Market Share in 2021, By Region

The COVID-19 pandemic is not the first-time advanced gene synthesis has been used to combat an outbreak. Synthetic biology advances, in addition to genomic fragments, paved the path for the creation of full-length SARS-CoV-2 synthetic genomes. At a time when clinical samples of the virus were few and difficult to obtain, having access to a synthetic genome enabled anyone in the research community to study the virus and quickly contribute to new insights. Synthetic genomes accurately reflect the original virus and can be utilized as a potentially huge supply of the virus without the need to replicate clinical samples indefinitely. Continuous progress in biological business research is opening up new market opportunities for industry participants.

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Key Findings of the Report:

  • Global synthetic biology market was valued at US$ 9.7 Bn in 2021 growing at a CAGR of 27.6% over the forecast period (2022 – 2030).
  • Genome engineering is one of the fastest growing segments over the forecast period. Synthetic biology is a growing field of bioengineering that uses concepts and information from various areas of study, such as genetics, biophysics, microbiology, and molecular biology, to develop methods and tools for engineering and repurposing natural biological systems for use in biomedicine and biotechnology. Genetic engineering often involves the transfer of individual genes from one cell to another; synthetic biology proposes the assembly of novel microbial genomes from a set of standardized genetic elements that are then introduced into a cell.
  • Medical application is projected to be the fastest emerging segment over the forecast period in the synthetic biology market owing to rising research activities for new drug development and also owing to rising chronic diseases across the world. Furthermore, the availability of large amounts of private and public funding for the development of new therapies is the primary driver of the medical applications segment's growth.
  • North America dominated the global synthetic biology market in terms of revenue in 2021. Countries such as the United States and Canada have made significant investments in the research studies and have adopted advanced technologies for synthetic biology research. Furthermore, increase in the number of well-established synthetic biology companies and research institutes in the United States and Canada is further contributing for the high share of the North American market.

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Key Companies – Global Synthetic Biology Market

  • Agilent Technologies, Inc.
  • Amyris
  • Arzeda
  • Codexis, Inc.
  • GenScript
  • Ginkgo Bioworks
  • Illumina, Inc.
  • Intrexon Corporation
  • Royal Dutch Shell
  • String Bio
  • SynbiCITE
  • Thermo Fisher Scientific
  • Twist Bioscience
  • Other Market Participants

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Global Synthetic Biology Market:

  • By Offerings
    • Products/Systems
      • DNA synthesis
      • Enzymes
      • Gene Fragment
      • Algae Engineering Kits
      • Synthetic Cells
      • Others
    • Software
    • Services
  • By Technology
    • Cloning
    • Gene synthesis
    • Microfluidic
    • Genome Engineering
    • Site-Directed Mutagenesis
    • Sequencing
    • Others
  • By Application
    • Food and Beverages
    • Medical Application
      • Therapeutics
      • Drug Discovery
      • Vaccine production
      • Life Science Research
      • Others
    • Agriculture
    • Cosmetic and Personal care
    • Industrial and Automation
    • Chemicals
    • Renewable Energy
    • Environment
    • Others
  • By Region
    • North America (U.S., Canada, Mexico, Rest of North America)
    • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries, Benelux Union, Rest of Europe)
    • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)
    • Middle East and Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
    • Latin America (Brazil, Argentina, Rest of Latin America)

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Press Release Provided By: Absolute Markets Insights