Global Synthetic Biology Market to Surpass US$ 100.4 Billion by 2030, Says Coherent Market Insights (CMI)
SEATTLE, May 19, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global synthetic biology market is estimated to be valued at US$ 13.9 billion in 2022 and is expected to exhibit a CAGR of 28.0% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Synthetic Biology Market:
Government initiatives and investment in synthetic biology to enhance the research & development are anticipated to drive the market growth. For instance, in November 2020, the Morrison Government invested US$ 8.3 million in a cutting-edge synthetic biology research facility to lead the development of new products.
Key Market Takeaways:
The global synthetic biology market is expected to exhibit a CAGR of 28.0% during the forecast period. Emerging diverse applications of synthetic biology in biomedicine, new materials & fabrics, agritech & food, etc. is anticipated to boost the market growth.
Synthetic Biology Market Report Coverage
Report Attributes | Details |
Market Size in 2022 | $13.9 Billion |
Market Size Projection in 2030 | $100.4 Billion |
CAGR (2028-2030) | 28.0% |
Largest Market | North America |
Growth Drivers | Technological advancement |
Segmentation | By Product , By Technology, and By End-User |
Regional Analysis | North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa) |
Key Companies Covered | Thermo Fisher Scientific, Synbio Technologies, Merck KGaA, Agilent Technologies, Inc., GenScript, Amyris, Eurofins Genomics GmbH, Integrated DNA Technologies, Inc., Codexis, Inc., EnBiotix, Inc., Synthego, New England Biolabs (UK) Ltd., Scarab Genomics, LLC and Genomatica, Inc. |
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Among product, the enzymes segment is expected to witness the largest market share in the global synthetic biology market over the forecast period. Enzyme engineering plays a central role in the development of effective biocatalysts for biological sciences and biomedicine. This is anticipated to drive the growth of market.
In terms of technology, the gene synthesis segment accounted for a major share of the market in 2020. Gene synthesis is emerging technology that enabled to develop innovations in synthetic biology. This is expected to drive the growth of segment
Among end user, the biotechnology & pharmaceutical industry segment is expected to hold a dominant position in the market during the forecast period. Increase in focus on developing cell based therapies by pharmaceutical key players is likely propel the segment growth.
Among region, North America is expected to dominate the global synthetic biology market over the forecast period. The early adoption of advanced technologies and presence of key market players are the factors anticipated to drive the market growth in the region.
Competitive Landscape:
Key players operating in the global synthetic biology market include Thermo Fisher Scientific, Synbio Technologies, Merck KGaA, Agilent Technologies, Inc., GenScript, Amyris, Eurofins Genomics GmbH, Integrated DNA Technologies, Inc., Codexis, Inc., EnBiotix, Inc., Synthego, New England Biolabs (UK) Ltd., Scarab Genomics, LLC, and Genomatica, Inc.
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Market Segmentation:
Global Synthetic Biology Market, By Product:
Oligonucleotides
Enzymes
Synthetic Cells
Others
Global Synthetic Biology Market, By Technology:
Gene Synthesis
Genome Engineering
DNA Sequencing
Others
Global Synthetic Biology Market, By End user:
Biotechnology & Pharmaceutical Industry
Academics & Research Institutes
Others
Global Synthetic Biology Market, By Region:
North America
By Country:
U.S.
Canada
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country:
U.K.
Germany
Italy
Spain
France
Russia
Rest of Europe
Asia Pacific
By Country:
Australia
India
China
Japan
ASEAN
South Korea
Rest of Asia Pacific
Middle East
By Country:
GCC
Israel
Rest of Middle East
Africa
By Country/Region:
South Africa
Central Africa
North Africa
Related Market Intelligence Reports:
Oligonucleotide Synthesis Market, by Equipment & Services (Equipment/Synthesizer, Reagents, and Services (Oligo Synthesis, Modification, and Purification)), by Technology (Column-based, and Microarray-based), by Nucleic Acid (DNA and RNA), by Application (Drug Discovery and Therapeutics), by End User (Academic Research Institutes, Diagnostic Laboratories, and Pharmaceutical-Biotechnology Companies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Biologics Market, by Drug Class (Monoclonal Antibody, Vaccine, Recombinant Insulin, Human Growth Hormone, Blood Factor, Fusion Protein, Erythropoietin, Recombinant Enzyme, Interferon, Colony-stimulating Factor, Cell Therapy, Gene Therapy, Oligonucleotides and Others (Peptide, Botulinum Toxin, and Others)), by Therapeutic Application (Oncology, Metabolic Disorders, Autoimmune/Immunologic Diseases, Ophthalmic Diseases, Inflammatory Bowel Diseases (IBDs), Respiratory Disorders, Neurological Disorders, Musculoskeletal Disorders (MSDs), Cardiovascular Diseases (CVDs), Infectious Diseases, and Others), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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