Synthetic Biology Market Size, Competitive Landscape and Market Forecast - 2030

SKU: DMBT2364 | Last Updated On: Feb 02 2023 | Available Formats

> Synthetic Biology Market Expected to reach at a high CAGR of 6.5% by 2030: DataM Intelligence

Synthetic Biology Market is segmented By-Products (Core Product (Synthetic Genes, Synthetic DNA, Synthetic Cells, Chassis Organisms, XNA), Enabling Product (Oligonucleotide Synthesis, DNA Synthesis)), By Technologies (Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Cloning, Site-Directed Mutagenesis, Measurement & Modeling, Microfluidics), By Application (Healthcare, Food & Agriculture, Chemicals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

 

The global synthetic biology market size was valued at US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).

The application of engineering principles to biology is the focus of the emerging interdisciplinary field of synthetic biology. It aspires to create biological systems and parts that do not already exist in the natural world through (re-)design and fabrication. With the help of synthetic biology, researchers can quickly produce cataloged DNA sequences and assemble them into new genomes. Synthetic biology combines the chemical synthesis of DNA with expanding genomics knowledge. Scientists are now able to create modified bacterial chromosomes that can be employed in manufacturing improved biofuels, bioproducts, renewable chemicals, and bio-based specialty chemicals, as well as in the healthcare industry, due to advancements in the speed and cost of DNA synthesis.

Synthetic Biology Market Scope

Metrics

Details

Market CAGR

6.5%

Segments Covered

By-Products, By Technologies, By Applications, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Synthetic Biology Market Dynamics

The major factors driving the global synthetic biology market the key companies are anticipated to make strategic investments to drive the market, improved diagnosis and techniques to support. The market is anticipated to rise in response to the rising demand for protein therapies, individualized medicine, and research into synthetic drugs and vaccines.

Key companies are anticipated to make strategic investments is expected to drive the market’s growth.

More funding is now being allocated to pharmaceutical companies for research and development to find new medications. Government programs subsidizing various pharma and biotech companies have promoted research into dietary supplements and meditation.

The market for synthetic biology products rises as societal perceptions of synthetic biology change. As a result, major market players invest in strategic development through activities like acquisition, collaboration, etc., to grow their companies and meet demand. For instance, the SynBio Innovation Accelerator was introduced by premier synthetic biology start-up Codexis, Inc. and a renowned life science investor, Casdin Capital, in November 2020. One of the major players in Japan, Sumitomo Chemical, established SynBio Hub, a new company in the U.S., intending to foster the development of synthetic biology-based next-generation businesses.

In 2020, investments in start-ups in the synthetic biology industry totalled $7.8 billion, and in 2021, they reached $18.0 billion. Companies like DNA Script and Arbor Biotechnologies raised about 215 million and 167.2 million dollars, respectively. The significant investment promotes the flow of money through the market and aids in the expansion of businesses along the supply chain.

The market's expansion will likely be hampered by safety concerns.

However, the intentional or unintentional release of genetically modified organisms into the environment could have detrimental effects on the health of both people and the ecosystem. In consequence, it is anticipated that this will impede market expansion.

COVID-19 Impact Analysis on Synthetic Biology Market

The use of synthetic biology products has expanded during the last two years due to the COVID-19 outbreak. By using novel methods for creating test kits, treatments, and vaccinations for COVID-19, many major pharmaceutical and bioTechnologies businesses and synthetic biology industry participants have  intensified their research operations globally. Synthetic biology is one of the emerging technologies, according to a study from the European Parliament. It can be applied to the fight against COVID-19 infection. The National Institute of Health in the U.S. has also highlighted the use of synthetic biology to hasten the creation of vaccines.

Synthetic biology has evolved from a rudimentary academic endeavor to a solid, partially industrialized strategy. During the COVID-19 pandemic, the biomedical opportunities provided by synthetic biology have never been more apparent: from advancing research to enabling quicker development of vaccines, therapeutics, and diagnostics, this discipline has made great contributions during a worldwide catastrophe. Automating the many synthetic biology processes, such as DNA and RNA synthesis, has been crucial to developing this significant field. Building on the momentum of synthetic biology and extending its advantages to areas beyond infectious diseases, such as cancer, metabolic, and genetic disorders,  companies would need to improve the present automation platforms and carry on with the automation of stages that are still done manually.

Synthetic Biology Market Segment Analysis

The healthcare segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)

The application segment is the highest market holder in the global synthetic biology market. The quick advancement of synthetic biology has driven the healthcare segment in terms of the various treatment techniques utilizing designed phages, artificial cells, and live bacteria.

For instance, it has made it possible for life technologies to create antigens and variants with high expression, quick outcomes, and capacity. Applications for synthetic biology range from the creation of drugs and vaccines to the production of products and diagnostic procedures.

Researchers use rational engineering methods to create unique, dynamic biosensing systems composed of a processor, sensor, and reporter. A growth in neurological diseases like multiple sclerosis is also fueling this market. For instance, starting in July 2022, synthetic biology specialists at the University of Toronto Engineering are creating personalized stem cells from patient tissues to treat ailments. These research initiatives are expected to support segment growth. Additionally, several initiatives performed by governments and other organizations are anticipated to benefit the market for research in this segment.

Synthetic Biology Market Geographical Analysis

North America holds the largest market share in the global synthetic biology market.

North America dominates the global Synthetic Biology market primarily due to its large population, excellent medical infrastructure, and high-income levels. Due to the expanding demand for bio-based products, rising investments in synthetic biology businesses, and rising R&D funding for synthetic biology, North America is predicted to have the greatest proportion of the global market for synthetic biology. as a result of greater government support, favorable laws, and increased investment in the development of synthetic biological products. In the first half of 2020, businesses in this industry, including Moderna Therapeutics, Sana BioTechnologies, Poseida Therapeutics, Apeel Sciences, and Greenlight Biosciences, raised more than $3 billion in financing.

Proteomics, genomic structure prediction, and drug development research are highly valued in the U.S., which is good for the synthetic biology sector. Additionally, certain for-profit businesses like the Gates and Melinda Foundation and government-funded research institutions like the National Institutes of Health (NIH) are promoting synthetic biology research and development, which could improve the chances for the nation's economic development. Additionally, growing funding from public and private organizations and R&D expenditures on drug development are significant growth factors anticipated to propel the market throughout the forecast period.

Synthetic Biology Market Competitive Landscape

The Synthetic Biology market is moderately competitive with local and global companies’ presence Amyris Inc., Algenol Biofuels Inc., Bayer AG, CBC Comprehensive Biomarker Center GmbH, Bristol-Myers Squibb, Biosearch Technologies Inc., Gene Script Corporation, GeneWorks Pty Ltd., DuPont Inc., Thermo Fisher Scientific In and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in July 2021, addition to announcing the expansion of their research partnership, Codexis, Inc. and Kalsec, Inc. also signed a unique supply arrangement for a novel enzyme that will be used to create Kalsec's newest natural hop acid.

Thermo Fisher Scientific Inc.

Overview: In order to meet the demands of difficult analytical problems in research, diagnostics, and clinical laboratories, Thermo Fisher Scientific Inc. (Thermo Fisher) offers medical equipment, analytical instruments, reagents and consumables, software, and services. It provides answers for flow cytometry, synthetic biology, and cellular biology. The company offers a variety of goods, including as technologies for protein and molecular biology research, electron microscopy, mass spectrometry, and genetic sequencing. The business provides services to academic and research institutions, government agencies, pharmaceutical and biotech firms, clinical diagnostic laboratories, environmental, industrial quality, and process control sectors.

Product Portfolio:

Invitrogen GeneArt Gene Synthesis Services: Getting unique DNA constructions with 100% sequence fidelity is easy and affordable with GeneArt Custom Gene Synthesis. The company offers optimization using the patented GeneOptimizer algorithm, which uses a special multifactorial strategy that goes beyond codon optimization, to maximize the expression of synthetic genes.

The global Synthetic Biology market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.

Frequently Asked Questions

What is the Projected CAGR value of the Synthetic Biology Market?

Synthetic Biology Market is expected to grow at a CAGR of 6.5% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Synthetic Biology Market during 2022-2029.

Which is the fastest growing region in the Synthetic Biology Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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