Synthetic Biology Market

Synthetic Biology Market is forecast to reach USD 14,400 Million by 2030, exhibiting a CAGR of 28.8% over the forecast period (2023-2030), due to the surging demand for innovation and development of diagnostics, vaccines, and therapeutics.

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Major Synthetic Biology Market Drivers

Growth in the synthetic biology market is driven by the expansion of healthcare industry and increasing number of synthetic biology research entities. Increasing incidences of cancer and immune diseases is projected to expand the market growth, as synthetic biology helps in targeting specific tumors and locally release anticancer drugs. According to the World Cancer Research Fund International, the cancer cases were nearly 18.1 million in 2020. The growing adoption of synthetic biology technology in the agriculture industry to help farmers grow crops in lower cultivable land with higher precision as compared to other gene technology has augmented the market growth. In the healthcare industry, synthetic biology helps improving the diagnosis and developing better treatment options for several diseases without any harmful effects, which is another factor fueling the market growth. Other factors which include the strategic government and private institutions support, increasing investment in Research & Developments in drug discovery, and the development and declining cost of DNA sequencing and synthesizing are expected to proliferate the market growth over the forecast period. According to the SynBioBeta report, the startups in the synthetic biology industry raised 7.8 billion in 2020, and USD 18.0 billion in 2021. Also, leading organizations like Arbor Biotechnologies and DNA Script accumulated nearly USD 215 million and USD 167.2 million, respectively.

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Enabling Product Insights

Oligonucleotide is expected to lead the market during the upcoming years, due to the growing adoption of targeted NGS, DNA computing, and CRISPR gene editing. For example, OligoMix, an innovative and customized product for genomics discoveries synthesizes numerous sequences of oligonucleotide in massive parallel. In addition, the ability of oligonucleotides to modulate and adapt gene expression with different methods including RNAi, RNase H-mediated cleavage, non-coding RNA inhibition, gene activation, and programmed gene editing will further add to the market growth.

Application Insights

Healthcare application is estimated to lead the market over the forecast period. With the rising cases of neurological disorders like multiple sclerosis, the need for better research and development activities to treat several diseases has increased, driving the synthetic biology market growth. For instance, the synthetic biology experts from the University of Toronto Engineering have developed custom stem cells from the tissues of patients to treat diseases, thus, these efforts are contributing to the market growth. Strategic initiatives taken by the governments will pave the way for market in the healthcare industry, The Ministers’ Media Centre, Government of Australia, decided to invest around AUD 8.3 million for the development of advanced synthetic biology research facility ‘’BioFoundry’’ to speed-up research into human therapeutics.

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Regional Analysis

North America is estimated to emerge as the fastest growing nation over the forecast period, due to the increasing investment by private companies, strategic norms, rising demand for bio-based products and government support. The growing emphasis of US government in proteomics, drug screening & discovery, and genomics structure prediction, will stimulate the market growth. For example, government agencies like the National Institute of Health (NIH), is proving funding for the development of various bioinformatics, integrated systems devices, and DNA sequencing and biological components, to be used for various healthcare and other applications.

Asia Pacific is expected to expand at a higher CAGR over the upcoming years, due to the increasing investments and strategic partnerships & funding in the field of synthetic biology. Moreover, several Asian countries have developed national institutes, state-sponsored research programs, and academia-industry collaborations to encourage technological innovation for the advancement of synthetic biology.

Major players operating in the market includes Novozymes, Agilent Technologies,Sigma-Aldrich Co. LLC., Amyris Biotechnologies, Thermo Fischer Scientific, Integrated DNA technologies, Eurofins Scientific, Merck KGaA, Intrexon Corporation, Origene technologies, Scientific genomics Inc., Editas Medicine, Inc., Pareto Biotechnologies,Twist biosciences, Syntrox Inc., among others.

Key Developments:

• • In 2022, Ribbon Biolabs, a DNA synthesis company, raised a fund of EUR 18 million to allow commercial-scale production facilities and the United States expansion for DNA synthesis technology with this fund.
  • In 2022, Bota Bio entered into a Medichem to promote sustainability while improve industrial processes. Bota Bio’s expertise in enzyme engineering is used to develop enzymes that can be easily incorporated into Medichem’s standard chemical processes.

Segments covered in the Report:

The Global Synthetic Biology Market has been segmented based on product type, technology, application and regions. Based on the product type, the market is segmented into Core Products, Synthetic DNA, Synthetic Genes, Synthetic Cells, Chassis organisms and XNO. Based on the technology, the market is segmented into Genome Engineering, Bioinformatics, DNA sequencing, Biological Component and Integrated System and Mutagenesis.

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Market Segments:

Global Synthetic Biology Market by Product Type

• Core Products
• Synthetic DNA
• Synthetic Genes
• Synthetic Cells
• Chassis organisms
• XNO (Xeno Nucleic Acid)

Global Synthetic Biology Market by Enabling Products

• DNA Synthesis
• Oligonucleotide Synthesis

Global Synthetic Biology Market by Technology

• Genome Engineering
• Bioinformatics
• DNA sequencing
• Biological Component and Integrated System
• Mutagenesis

Global Synthetic Biology Market by Application

• Healthcare
• Agriculture
• Chemical Industry
• Pharmaceuticals
• Industrial

Global Plant-based Meat Market by Region

• • North America Synthetic Biology Market (Option 1: As a part of the free 25% customization)
    • By Type of Products
    • By Enabling Products
    • By Technology
    • By Application
    • United States of America (US) Market All-Up
    • Canada Market All-Up

• • Europe Synthetic Biology Market (Option 2: As a part of the free 25% customization)
    • By Type of Products
    • By Enabling Products
    • By Technology
    • By Application
    • United Kingdom (UK) Market
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Synthetic Biology Market (Option 3: As a part of the free 25% customization)
    • By Type of Products
    • By Enabling Products
    • By Technology
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

• • RoW Synthetic Biology Market (Option 4: As a part of the free 25% customization)
    • By Type of Products
    • By Enabling Products
    • By Technology
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Synthetic Biology Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Novozymes
  • Merck KGaA
  • Intrexon Corporation
  • Agilent Technologies
  • Thermo Fischer Scientific
  • Integrated DNA technologies
  • Eurofins Scientific, Inc.
  • Origene technologies
  • Scientific genomics Inc.
  • Editas Medicine, Inc.
  • Pareto Biotechnologies
  • Twist biosciences
  • Syntrox Inc.
  • Sigma-Aldrich Co. LLC.
  • Amyris Biotechnologies