WASHINGTON, March 27, 2023 (GLOBE NEWSWIRE) -- Global Gene Synthesis Market is valued at USD 2.16 Billion in 2021 and is projected to reach USD 6.58 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 17.9% over the forecast period 2022-2028.
Gene Synthesis Market Overview
The gene synthesis market is a rapidly growing industry that involves the artificial creation of genes using DNA synthesis technology. Gene synthesis is the process of assembling artificial genes using chemical methods rather than extracting them from living organisms.
The market for gene synthesis is being driven by a number of factors, including the increasing demand for personalized medicine and the growth of the biotechnology industry. The development of new gene editing techniques, such as CRISPR/Cas9, is also contributing to the growth of the gene synthesis market, as researchers seek to create customized genes for a variety of applications.
The gene synthesis market is divided into two main segments: gene synthesis products and gene synthesis services. Gene synthesis products include reagents and consumables used in gene synthesis, while gene synthesis services involve the outsourcing of gene synthesis to contract research organizations (CROs) and academic institutions.
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Gene Synthesis Market Dynamics
Technological advancements: The gene synthesis market is being driven by the development of new DNA synthesis technologies, such as oligonucleotide synthesis and gene assembly. The emergence of new gene editing tools such as CRISPR/Cas9 has also increased the demand for gene synthesis services.
Government funding: Government initiatives and funding for research and development activities in gene therapy and personalized medicine are also driving the growth of the gene synthesis market. For example, the US government’s Precision Medicine Initiative is focused on developing targeted treatments for individual patients, which requires the use of gene synthesis technologies.
Increasing demand for personalized medicine: The demand for personalized medicine is increasing, and gene synthesis is an essential tool for creating customized gene therapies. Gene synthesis is also used for the development of personalized diagnostics, which can help physicians to identify the genetic basis of diseases and design treatments that are tailored to individual patients.
Growing biotechnology industry: The biotechnology industry is expanding rapidly, and gene synthesis is a key tool in the development of new biotech products. The increasing number of biotech startups and the growing investment in biotechnology research and development are driving the growth of the gene synthesis market.
Stringent regulatory environment: The gene synthesis market is subject to strict regulatory guidelines, particularly in the area of gene editing. The regulatory environment is constantly evolving, and companies operating in the gene synthesis market must comply with the latest regulations to avoid regulatory action and penalties.
Top Players in the Global Gene Synthesis Market
- Merck KGaA
- Genewiz Inc.
- Eurofins Genomics
- Thermo Fisher Scientific
- GenScript
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Top Report Findings
- The global gene synthesis market size was valued at USD 2.16 Billion in 2021 and is expected to grow at a CAGR of 17.9% from 2022 to 2028.
- Gene synthesis services accounted for the largest share of the gene synthesis market in 2021, and the segment is expected to continue to dominate the market through 2028.
- The pharmaceutical and biotechnology companies were the largest end-users of gene synthesis products and services in 2021, and the segment is expected to continue to be the largest end-user segment through 2028.
- North America dominated the gene synthesis market in 2021, accounting for over 45% of the global market share. The Asia Pacific region is expected to be the fastest-growing market during the forecast period, due to increasing investments in biotechnology research and development in countries like China and India.
- CRISPR/Cas9 is the most commonly used gene editing tool, and the demand for gene synthesis services for CRISPR/Cas9 applications is expected to increase significantly in the coming years.
- The increasing use of gene synthesis in the development of vaccines, particularly for the COVID-19 pandemic, is expected to drive the growth of the gene synthesis market in the near term.
Top Trends in the Global Gene Synthesis Market
- Increasing use of gene synthesis in gene editing: The emergence of new gene editing tools, such as CRISPR/Cas9, is driving the demand for gene synthesis services. Gene synthesis is used to create custom-designed DNA sequences that can be used to introduce specific changes into the genome.
- Growing demand for personalized medicine: The demand for personalized medicine is increasing, and gene synthesis is an essential tool for creating customized gene therapies. Gene synthesis is also used for the development of personalized diagnostics, which can help physicians to identify the genetic basis of diseases and design treatments that are tailored to individual patients.
- Expansion of biotechnology industry: The biotechnology industry is expanding rapidly, and gene synthesis is a key tool in the development of new biotech products. The increasing number of biotech startups and the growing investment in biotechnology research and development are driving the growth of the gene synthesis market.
- Advancements in DNA synthesis technology: The development of new DNA synthesis technologies, such as oligonucleotide synthesis and gene assembly, is driving the growth of the gene synthesis market. These technologies allow for the creation of longer and more complex DNA sequences, which are required for a wide range of applications.
- Increasing outsourcing of gene synthesis services: Many pharmaceutical and biotechnology companies are outsourcing their gene synthesis needs to contract research organizations (CROs) and academic institutions. This trend is driven by the need for specialized expertise and equipment, as well as the cost savings that can be achieved through outsourcing.
- Focus on regulatory compliance: The gene synthesis market is subject to strict regulatory guidelines, particularly in the area of gene editing. Companies operating in the gene synthesis market must comply with the latest regulations to avoid regulatory action and penalties.
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Global Gene Synthesis Market Segmentation
By End User
- Academic and Research Institutes
- Biopharmaceutical Companies
- Contract Research Organizations
By Method
- Oligonucleotide Synthesis
- Gene Assembly
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Answered in the Gene Synthesis Market Report are:
- What is the current size of the global gene synthesis market, and what is its projected growth rate over the next few years?
- What are the key drivers, restraints, and opportunities in the gene synthesis market, and how are they expected to impact the market?
- What are the major segments of the gene synthesis market, and which segment is expected to dominate the market during the forecast period?
- What are the key applications of gene synthesis, and which application is expected to experience the highest growth rate during the forecast period?
- What are the major end-users of gene synthesis products and services, and which end-user segment is expected to dominate the market during the forecast period?
- Which region is expected to experience the highest growth rate during the forecast period, and what are the key factors driving this growth?
- What are the major challenges faced by companies operating in the gene synthesis market, and how can these challenges be addressed?
- Who are the major players operating in the gene synthesis market, and what are their strategies for growth and market penetration?
- What are the latest trends and developments in the gene synthesis market, and how are they expected to impact the market during the forecast period?
- What are the key regulatory issues and guidelines that impact the gene synthesis market, and how can companies ensure compliance with these regulations?
Browse market data Tables and Figures spread through 179 Pages and in-depth TOC on Gene Synthesis Market Forecast Report (2022-2028).
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 2.16 Billion |
| Revenue Forecast by 2028 | USD 6.58 Billion |
| CAGR | 17.9% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Merck KGaA, Genewiz Inc., Eurofins Genomics, Thermo Fisher Scientific, GenScript |
| Customization Request | If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/gene-synthesis-market-1259/request-sample |
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Regional Analysis
- North America: North America dominated the gene synthesis market in 2020, accounting for over 45% of the global market share. This dominance is attributed to the presence of a large number of biotechnology and pharmaceutical companies in the region, as well as the availability of advanced research infrastructure and funding. The US is the largest market for gene synthesis in North America.
- Europe: Europe is the second-largest market for gene synthesis, driven by the presence of a large number of biotech and pharmaceutical companies in the region. The increasing investment in research and development in the life sciences sector is expected to drive the growth of the gene synthesis market in Europe.
- Asia-Pacific: The Asia-Pacific region is expected to be the fastest-growing market for gene synthesis during the forecast period. This growth is driven by increasing investments in biotechnology research and development in countries like China and India, as well as the availability of skilled labor and low manufacturing costs.
- Latin America: Latin America is a small but growing market for gene synthesis, driven by the increasing demand for personalized medicine and the emergence of new gene editing tools.
- Middle East and Africa: The gene synthesis market in the Middle East and Africa is still in its early stages, but is expected to grow rapidly in the coming years. The increasing investment in the life sciences sector and the growing demand for personalized medicine are expected to drive the growth of the gene synthesis market in the region.
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