New York, United States , Aug. 02, 2024 (GLOBE NEWSWIRE) -- The Global Synthetic Biology Market Size is to Grow from USD 14.3 Billion in 2023 to USD 139.4 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 25.57% during the projected period.
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Synthetic biology is the study of creating new biological entities by modifying pre-existing biological systems, such as cells, enzymes, and genetic circuits. Synthetic biology is an application-based branch of engineering and research that creates new biological systems. The principal objective of synthetic biology is the synthesis of new biological materials that are not present in nature, such as advanced biofuels, renewable chemicals, and bioproducts. Synthetic biology finds standardized genomic units so that small genomic components can be easily synthesized and assembled into integrated significant systems to meet specific biological difficulties for the development of biological systems. The need for effective and promising treatments for several diseases that significantly decrease people's quality of life worldwide, the decreasing availability of the antibiotic pipeline, the rise in chronic and deadly diseases like cancer and HIV, and the increasing importance of synthetic biomedicine research have all contributed to this accelerated speed. The business is growing in part due to government agencies continuing to fund synthetic biology at higher levels. The organization focuses on investing in the healthcare and biotechnology sectors. However, one of the main biosafety risks connected to synthetic biology is the accidental or intentional discharge of synthetic organisms into the environment during research and other purposes.
Browse key industry insights spread across 178 pages with 110 Market data tables and figures & charts from the report on the "Global Synthetic Biology Market Size, Share, and COVID-19 Impact Analysis By Product (Enzymes, Oligonucleotide/Oligo Pools and Synthetic DNA, Xeno-Nucleic Acids, Cloning Technologies Kits), By Technology (PCR Technology, NGS Technology, Bioprocessing Technology, Genome Editing Technology, Other Technologies), By Application (Healthcare, Non-healthcare), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The oligonucleotide/oligo pools and synthetic DNA segment are anticipated to hold the greatest share of the global synthetic biology market during the projected timeframe.
On the basis of product, the global synthetic biology market is divided into enzymes, oligonucleotide/oligo pools and synthetic DNA, xeno-nucleic acids, and cloning technologies kits. Among these, the oligonucleotide/oligo pools and synthetic DNA segment are anticipated to hold the greatest share of the global synthetic biology market during the projected timeframe. Oligonucleotides are the primary component in a wide range of molecular biology and synthetic applications. The primary drivers of this market are the increasing applications of targeted NGS, DNA computing, mutagenesis research, and CRISPR gene editing.
The PCR technology segment is predicted to hold the greatest share of the global synthetic biology market during the estimated period.
On the basis of technology, the global synthetic biology market is divided into PCR technology, NGS technology, bioprocessing technology, genome editing technology, and other technologies. Among these, the PCR technology segment is predicted to hold the greatest share of the global synthetic biology market during the estimated period. Polymerase chain reaction, or PCR, is a crucial technology for determining and analyzing specific gene sequences. Real-time PCR tests are the preferred method for many PCR-based genomic research because of their remarkable sensitivity and specificity.
The healthcare segment is anticipated to hold the largest share of the global synthetic biology market during the projected timeframe.
On the basis of application, the global synthetic biology market is divided into healthcare and non-healthcare. Among these, the healthcare segment is anticipated to hold the largest share of the global synthetic biology market during the projected timeframe. Synthetic biology-based diagnostics offer a real-time, non-invasive, extremely specific, and sensitive method of recognizing medications, cancerous cells, and pathogenic microbes.
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North America is expected to hold the largest share of the global synthetic biology market over the forecast period.
North America is expected to hold the largest share of the global synthetic biology market over the forecast period. Research mostly centered on proteomics, drug screening & discovery, and genomic structure prediction is driving the growth of the synthetic biology market in the United States. In the global synthetic biology industry, North America has become the leader primarily because of the substantial investments in research and development made by well-known biotechnology companies with headquarters located in the United States and Canada.
Asia Pacific is predicted to grow at the fastest pace in the global synthetic biology market during the projected timeframe. The Asia Pacific region's fast-developing economies, like China and India, are fostering an environment that is conducive to the growth of the biotechnology industry. China, in particular, has shown focused and well-coordinated attempts to become a leader in synthetic biology through initiatives like GIDL projects.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global synthetic biology market include Merck KGaA, Agilent Technologies, Novozymes, Ginkgo Bioworks, Genscript, Thermo Fisher Scientific Inc., Amyris Inc., Integrated DNA Technologies Inc., Illumina, Inc., Precigen, Inc., Twist Bioscience, Synthetic Genomics, Codexis, Synthego, and Other key companies.
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Recent Developments
- In January 2024, Rice University of the United States launched the Rice Synthetic Biology Institute to promote collaborative research in synthetic biology and its application to technologies that improve society.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global synthetic biology market based on the below-mentioned segments:
Global Synthetic Biology Market, By Product
- Enzymes
- Oligonucleotide/Oligo Pools and Synthetic DNA
- Xeno-Nucleic Acids
- Cloning Technologies Kits
Global Synthetic Biology Market, By Technology
- PCR Technology
- NGS Technology
- Bioprocessing Technology
- Genome Editing Technology
- Other Technologies
Global Synthetic Biology Market, By Application
- Healthcare
- Non-healthcare
Global Synthetic Biology Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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