Dublin, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The "Global Synthetic Biology Market, By Products, By Application, By Tool, By Technology & By Region- Forecast and Analysis 2022-28" report has been added to ResearchAndMarkets.com's offering.
The Global Synthetic Biology Market is valued at USD 9.3 Billion in 2021, and it is anticipated to attain a value of USD 52.04 Billion by 2028, at a CAGR of 27.89 % over the forecast period (2022 - 2028).
The interdisciplinary field of synthetic biology deals with the application of engineering concepts to biology. Its fundamental objective is to design and develop such biological components and systems that do not already exist in the natural world, which is a relatively young endeavour in comparison to other disciplines of Science and Technology. Researchers combine a chemical synthesis of DNA with improvements in their understanding of genomics to ensure the quick manufacture of altered DNA sequences and their integration into two genomes. Synthetic biology has the potential to provide solutions to issues in agriculture, manufacturing, and medicine.
Segments covered in this report
The Global Synthetic Technology Market is segmented based on Product, Application, Tool, Technology, and Region. Based on Product it is categorized into: Core Products, Enabling Products, Enabled Products. Based on application it is categorized into Healthcare, Chemicals (Including Bio-fuels), Food, Agriculture, Other Applications (Biosecurity, Energy, Environment). Based on the tool it is categorized into Oligonucleotides, Synthetic Dna, Enzymes, Cloning Technologies Kits, Synthetic Cells, Chassis Organisms, Xeno-nucleic Acids. Based on the technology it is categorized into Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-directed Mutagenesis, Cloning, Measurement, Modeling, Microfluidics, Nanotechnology. Based on the region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Drivers
The R&D industry has always required a lot of capital because of the extensive research and regulatory processes. R&D is viewed by governments as a crucial investment for a nation's wealth, global competitiveness, and public good. As a result, financing and investment in R&D have grown continuously over time. Investment in R&D in the life sciences industry increased by 22% between 2018 and 2019. Pharmaceutical and biotechnology companies invest a lot of money in research to create revolutionary new drugs to treat new diseases and meet the growing demands of the healthcare industry. Over 80% of all research and development expenditures in the life sciences sector are made by the global pharmaceutical business.
Restraints
The purposeful or unintended release of synthetic organisms into the environment during research and other uses is a major biosafety risk in synthetic biology. When synthetic bacteria are put into the environment, they might mutate or interact with other species, leading in crossbreeding and bio errors.
Market Trends
This industry is growing as a result of the biotechnological and pharmaceutical industries' growing need for synthetic biology for research and development purposes. The global synthetic biology market is being driven by the application of synthetic biology techniques in medication discovery and development.
Companies Mentioned
- Thermo Fisher Scientific, Inc. (US)
- Merck KGaA (Germany)
- Agilent Technologies, Inc. (US)
- Novozymes A/S (Denmark)
- Ginkgo Bioworks (US)
- Amyris (US)
- Precigen, Inc. (US)
- GenScript (China)
- Twist Bioscience (US)
- Synthetic Genomics (US)
For more information about this report visit https://www.researchandmarkets.com/r/k210p1
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