New York, USA, March 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global gene synthesis market is expected to generate a revenue of $42,14,890.1 thousand by 2028, growing exponentially at a CAGR of 18.5% during the forecast period, 2021-2028. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Gene Synthesis Market
Drivers: Significant surge in the demand for gene synthesis for clinical testing and in healthcare is expected to drive the growth of the gene synthesis market during the forecast period. In addition, extensive application of gene synthesis in recombinant DNA technology due to the inclusion of recombinant protein production is further expected to bolster the growth of the market during the forecast period.
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Restraints: Unavailability of skilled professionals in the market is expected to hinder the growth of the market during the forecast period.
Opportunities: Rising geriatric population and increase in the number of people with chronic disorders across the globe are expected to create ample opportunities for the growth of the gene synthesis market during the forecast period.
COVID-19 Impact on the Gene Synthesis Market
The outbreak of COVID-19 pandemic has had a positive impact on the growth of the global gene synthesis market. Growing fear of contracting the virus among people led to the surge in the number scientific research activities to find solutions to tackle the virus. Extensive use of gene synthesis in scientific research, during the pandemic, contributed considerable revenue growth of the market.
Segments of the Gene Synthesis Market
The report has divided the market into various segments based on method, end-user, and region.
Method: Solid Phase Synthesis Sub-segment to be Most Profitable
The solid phase synthesis sub-segment is expected to be generate a revenue of $20,06,287.7 thousand during the forecast period. Solid phase synthesis method is less time-consuming, appreciably cost-effective, and much more efficient than gene synthesis methods. This factor is expected to drive the growth of the gene synthesis market sub-segment during the forecast period.
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End-User: Academic & Research Sub-segment to be Most Lucrative
The academic & research sub-segment is expected to register a revenue of $17,36,534.7 thousand during the forecast period. Wide use of gene synthesis in academic & research along with the increased support and funding from the government is expected to stimulate the growth of the sub-segment during the forecast period.
Region: North America Region to Dominate the Global Gene Synthesis Market
The North America region is expected to generate a revenue of $16,31,162.5 thousand during the forecast period. Growing research activities in the field of gene synthesis in this region is expected to bolster the growth of the market during the forecast period. In addition, presence of prominent players of the market in this region is further expected to accelerate the growth of the regional gene synthesis market during the forecast period.
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Key Players of the Gene Synthesis Market
The major players of the market include Thermo Fisher Scientific, Inc., Integrated DNA Technologies, Inc., OriGene Technologies, Inc., GenScript, Brooks Automation, Inc. (GENEWIZ), Biomatik, ProMab Biotechnologies, Inc.), Boster Biological Technology, Twist Bioscience, Codex DNA, and many others. These players are working on developing strategies such as product development, merger and acquisitions, partnerships and collaborations to sustain the market growth.
For instance, in September 2020, EVONETIX LTD, an England-based synthetic biology company engaged in developing a creative desktop platform for efficient and rapid gene synthesis, collaborated with Analog Devices, Inc., a dominant high-performance analog technology company, in order to devise, advance, and commercially scale-up a third generation DNA synthesis platform.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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Analyst Review: https://www.researchdive.com/8565/Anlyst-Review/gene-synthesis-market
