Global Synthetic Biology Market : New Technology Developments Driving Innovation

 

The Synthetic biology market was valued at USD 9.5 Billion in 2020, and it is expected to reach a value of USD 30.7 Billion by 2027, at a CAGR of 26.5% over the forecast period (2020 - 2027).

Synthetic biology is a new field of study that combines many disciplines, including molecular biology, biotechnology, biophysics, and genetic engineering.

The market is being driven by government and commercial sector support, an increase in the number of synthetic biology research institutions, and a decrease in the cost of DNA sequencing and synthesizing.

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This report provides in-depth analysis of Global Synthetic biology market. We have analyzed 20+ data points that include product price trends, consumer purchase patterns, company annual sales performance, COVID-19 impact on distribution channels, parent industry performance, regional trends, and technological innovations, for tracking the Global market size and performance in the recent years.

Global Synthetic Biology Market Segmentation

The Global Synthetic biology market is segmented based on Product, Applications, Tool, Technology, and Region. Based on Product it is categorized into: Core Products, Enabling Products, Enabled Products. Based on Applications it is categorized into: Healthcare, Chemicals (Including Bio-Fuels), Food and Agriculture, Other Applications (Biosecurity, Energy, and Environment). Based on Tool it is categorized into: Oligonucleotides and Synthetic DNA, Enzymes, Cloning Technologies Kits, Synthetic Cells, Chassis Organisms, Xeno-nucleic Acids. Based on Technology it is categorized into: Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-directed Mutagenesis, Cloning, Measurement and Modeling, Microfluidics, Nanotechnology. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

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Key Trends in Global Synthetic Biology Market

Synthetic biology is being utilized in agriculture to give greater accuracy and sophistication than previous gene technologies. This increases crop and livestock production while decreasing environmental impact by limiting pesticide and fertilizer use.

Another promising area for synthetic biology advancements is biomonitoring. In environmental sensing systems, highly specialized, small biosensors may be designed to detect a wide range of compounds such as hydrocarbon pollutants, carbohydrates, heavy metals, and antibiotics.

OPX Biotechnologies (OPXBIO) is creating a sustainable bio-based acrylic that has the same performance and cost as petro-acrylic but emits 75% less greenhouse gas. OPXBIO's BioAcrylic will help minimize oil reliance and provide more predictable pricing.

Global Synthetic Biology Market: Regional Dynamics

North America held the largest share of the synthetic biology market in 2020. The APAC region, on the other hand, is expected to grow the most during the forecast period, owing to an increase in the number of pharmaceutical and biopharmaceutical companies, an increase in the number of healthcare and life science facilities, and increasing regulatory compliance requirements in pharmaceutical and biopharmaceutical companies, as well as an increase in the number of international alliances and heavy funding.

Key players in Synthetic biology market are:

·         Thermo Fisher Scientific Inc.

·         Merck KGaA (Germany)

·         Agilent Technologies, Inc.

·         Novozymes A/S

·         Ginkgo Bioworks

·         Amyris

·         Precigen, Inc.

·         GenScript

·         Twist Bioscience

·         Synthetic Genomics

·         Codexis

·         Synthego

·         Creative Enzymes

·         Eurofins Scientific

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