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 Strategic investment by key players |
| 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
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- North America
- Africa
-
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
-
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