SAN FRANCISCO, Feb. 21, 2022 /PRNewswire/ — The global synthetic biology market size is estimated to reach USD 31.97 billion by 2027, registering a CAGR of 20.8% over the forecast period, according to a new report by Grand View Research, Inc. Extensive applications of synthetic biology in multiple fields is a major impact rendering driver of the market.
Key Insights & Findings from the report:
- Oligonucleotide/oligo pools and synthetic DNA held the dominant share in the product segment owing to the increased application scope of the product in the research field.
- The enzymes product segment is expected to witness the second-fastest CAGR over the forecast years owing to the growing application of enzymes in biofuel, textile industry, and molecular biology applications.
- Healthcare application is the largest revenue-generating as well as the fastest-growing application segment due to a rise in the application of synthetic biology in research, diagnostics, and other clinical fields.
- The biotechnology & pharmaceutical companies end-use segment led the market in 2020 due to heavy investments to enhance R&D activities for the production of vaccines and other drugs.
- PCR was the largest revenue-generating technology segment in 2020. With the accelerated development of modern life science, PCR technology has been widely applied to different biological, medical research, virus detection, and the food industry.
- The availability of advanced research facilities, increased investments in private companies, favorable regulations, and government assistance & funding have contributed to the dominance of the North America regional market in 2020.
- For Instance, in September 2020, a U.S.-based startup, Zymergen Inc., received USD 300 million in funding from Baillie Gifford & Co. to increase the R&D activities in synthetic biology.
- The key operating players are focusing on exploring synthetic biology to its highest potential across different emerging applications.
- For instance, in April 2020, Barcelona-based Luis Serrano and Maria Lluch received USD 2.35 million of seed financing from Barcelona-based Invivo Ventures to develop novel treatments for lung infections.
Read 150-page market research report, “Synthetic Biology Market Size, Share & Trends Analysis Report By Product (Enzymes, Cloning Technologies Kits), By Technology (PCR, NGS), By Application (Non-Healthcare, Healthcare), By End Use, And Segment Forecasts, 2021 – 2027“, published by Grand View Research.
Synthetic Biology Market Growth & Trends
Several market participants have produced materials and textiles with the use of synthetic biology. Bolt Threads, a material developing company that produced engineered spider silk ties, and Colorifix are developing dyes with biological systems. In addition, the market has provided the agriculture industry with alternative fertilizer options, which are not harmful. For instance, Pivot Bio, a California-based company, has established a technique of fertilizing crops without relying on a harmful polluting chemical process.
Extending clinical applications of synthetic biology, the potential of the technique to accelerate drug development, and enhancing market competition are some key aspects driving the industry. The COVID-19 pandemic is set to drive applications and investments in this space. For instance, in January 2021, FDA approved Phase III trials of carrimycin—ā synthetic biological drug treatment for COVID-19. This drug includes anti-inflammatory, antiviral, anti-fibrosis, as well as antibacterial effects.
Synthetic Biology Market Segmentation
Grand View Research has segmented the global synthetic biology market on the basis of product, technology, application, end use, and region:
Synthetic Biology Product Outlook (Revenue, USD Million, 2018 – 2027)
- Oligonucleotide/Oligo pools and Synthetic DNA
- Cloning Technologies Kits
- Xeno-nucleic Acids
- Chassis Organism
Synthetic Biology Technology Outlook (Revenue, USD Million, 2018 – 2027)
- Genome Editing
- Bioprocessing Technology
Synthetic Biology Application Outlook (Revenue, USD Million, 2018 – 2027)
- Biotech Crops
- Specialty Chemicals
Synthetic Biology End-use Outlook (Revenue, USD Million, 2018 – 2027)
- Biotechnology & Pharmaceutical Companies
- Academic & Government Research Institutes
Synthetic Biology Regional Outlook (Revenue, USD Million, 2018 – 2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Synthetic Biology Market
- Bota Biosciences
- Codexis, Inc.
- Creative Biogene
- Creative Enzymes
- EnBiotix, Inc.
- Eurofins Scientific
- Merck (Sigma Aldrich)
- New England Biolabs
- Pareto Biotechnologies, Inc.
- Scarab Genomics
- Synthetic Genomics
- Thermo Fisher
Check out more related studies published by Grand View Research:
- Computational Biology Market – The global computational biology market size is expected to reach USD 13.6 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 21.3% during the forecast period. Rise in clinical studies in pharmacokinetics and pharmacogenomics for novel drug delivery and increase in the application of computational biology for bioinformatics R&D programs for the population based sequencing studies are fueling the market growth.
- Molecular Biology Enzymes, Reagents And Kits Market – The global molecular biology enzymes, reagents and kits market size is expected to reach USD 29.3 billion by 2027, expanding at a CAGR of 11.0%, according to a new report by Grand View Research, Inc. The molecular biology field holds great potential to advance the medical treatments based on increasing scientific knowledge of cellular processes coupled with improving access to proteomics and genomics data.
- Structural Biology & Molecular Modeling Techniques Market – The structural biology & molecular modeling techniques market size is expected to reach USD 13.1 billion by 2025, at a CAGR of 18.2% according to a new study by Grand View Research, Inc. An unprecedented rise in the adoption of unhealthy lifestyles has led to an upsurge in the prevalence of chronic diseases, such as diabetes and cancer, which is presumed to propel the market growth during the forecast period.
Browse through Grand View Research’s Biotechnology Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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