Gene Synthesis Market

Market Synopsis:

Global Gene Synthesis Market is valued at USD 2.35 Billion in 2022 and is projected to attain a value of USD 8.58 Billion by 2030 at a CAGR of 17.60% during the forecast period, 2022–2028. Gene Synthesis is the chemical synthesis of double-stranded DNA molecules in a laboratory setting. It is a biotechnology technique that is crucial in the realm of synthetic biology. Various sectors of recombinant DNA technology, such as gene therapy, vaccine development, molecular engineering, and heterologous gene expression, have benefited from the technology. It could aid in the development of new enzymes for cancer treatment. It can also be used to diagnose viral genomes in real time for vaccine development. Without using a template DNA strand, Gene Synthesis can create mutant, recombinant, or wholly new DNA sequences. It can also make oligos and RNA with changed bases or chimeric DNA-RNA backbones, in addition to DNA sequences.

In the most hopeful scenario, the COVID-19 pandemic would have a long-term positive impact on the global Gene Synthesis business. In early 2020, the COVID-19 pandemic had a detrimental impact on the Gene Synthesis market, as most dental offices, clinics, and laboratories were forced to close due to lockdowns and quarantine regulations in many regions of the world. However, most regions, particularly North America and Europe, are recovering as laboratory services has return to normalcy.

Supportive Government Policies

The market is fueled by government regulations that favour synthetic biology. Investors have moved their focus to synthetic biology in recent years as demand for the technology has grown. By 2020, the synthetic biology field will have received around USD 8 billion in governmental and private funding. In terms of fresh growth potential, the ongoing COVID-19 epidemic has been beneficial to the market. Scientific communities are researching uncharted territory in the space, resulting in increased revenue. Researchers at the National Institute of Standards and Technology (NIST), for example, have created synthetic COVID-19 viral gene segments to aid diagnostic developers in developing more reliable and accurate diagnostic tests for the disease.

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Long Approval Time

Long approval times for gene synthesisers and the goods synthesised with these products limit product producers' ability to gain a competitive advantage in the market, reducing total market size and so posing a hurdle to the gene synthesis market's growth.

Market Segmentation:

The Global Gene Synthesis Market can be segmented by End User into Academic and Research Institutes, Biopharmaceutical Companies and Contract Research Organizations. By Method into Oligonucleotide Synthesis and Gene Assembly. Based on Region, the Gene Synthesis Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

North America to Continue Dominating the Gene Synthesis Market

Owing to the existence of key companies and supported government activities relevant to the training and execution of synthetic biology programmes, North America accounted for the greatest revenue share of more than 40.1% in 2021. Gene editing and synthesis-related processes are increasingly being used by medication and diagnostic companies in the United States, facilitating regional market growth. Furthermore, governmental approval and commercialization of synthetic gene products in the region have aided market expansion. The recent approval of a large number of cellular and gene therapies in the region also encourages additional companies to invest in this area.

Key Players:

Some of the players are Atum, ATDBio Ltd., Bioneer Corporation, Eurofins Scientific, Eurogentec, GenScript Biotech Corporation, Genewiz, Integrated DNA Technologies, Inc., OriGene Technologies, Inc., and Thermo Fisher Scientific, Inc.

Gene Synthesis Market is segmented as follows:

Gene Synthesis Market is tabulated as follows: