Portland, OR, March 09, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global gene synthesis market generated $1.11 billion in 2021, and is estimated to reach $5.9 billion by 2031, witnessing a CAGR of 18.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.11 Billion |
| Market Size in 2031 | $5.9 Billion |
| CAGR | 18.4% |
| No. of Pages in Report | 280 |
| Segments Covered | Method, End User, and Region |
| Drivers | Growing demand for gene synthesis due to the decreasing cost of DNA synthesis and sequencing |
| The development of the enzymatic DNA synthesis techniques | |
| Technical developments in DNA synthesis platforms | |
| Opportunities | Growth in research and development activities in next-generation genome sequencing and increasing government support for genomics |
| Growing demand for medicine and therapies for various chronic diseases | |
| Restraints | A lack of skilled personnels for the insertion of genes or the implementation of gene therapy procedures in patients |
| The high cost of the procedure in particular areas |
Impact of Covid-19 on the Gene Synthesis Market:
- The outbreak of the COVID-19 pandemic had a moderate impact on the gene synthesis market.
- There were severe disruptions in the supply of materials and logistical operations during the initial phase of the pandemic, which hampered the market growth.
- However, as the demand for COVID-19 vaccines rose globally, the use of gene synthesis methods also increased by scientists and researchers to analyze the physiology of the viral genome on human DNA.
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The report offers a detailed segmentation of the global gene synthesis market based on method, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on method, the solid phase synthesis segment held the largest share in 2021, accounting for nearly half of the global gene synthesis market and would dominate the market in terms of revenue through 2031. The PCR based enzyme synthesis segment, on the other hand, is estimated to witness the fastest CAGR of 18.7% during the forecast period. The report also discusses the Chip based DNA synthesis segment.
In terms of end user, the academic and research institutes segment captured the largest market share of nearly two-fifths of the global gene synthesis market in 2021 and would maintain its leadership in terms of revenue in 2031. The same segment is expected to achieve the fastest CAGR of 18.7% through 2031. The report also discusses the biotech and pharmaceutical companies, diagnostic laboratories, and other segments.
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Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global gene synthesis market in 2021 and is likely to maintain its dominance during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 19.0% from 2022 to 2031. The other regions analyzed in the study include North America and LAMEA.
Leading players of the global gene synthesis market analyzed in the research include Brooks Automation, Inc., Boster Biological Technology, Twist Bioscience, Codex DNA, Biomatik, Promab Biotechnologies, Inc., Thermo Fisher Scientific, Inc., Genscript Technology, Integrated DNA Technologies, Inc., and OriGene Technologies, Inc.
The report analyzes these key players of the global gene synthesis market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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