Reports - Synthetic Biology Market
Biotechnology and Life SciencesSynthetic Biology Market
Synthetic Biology Market Size, Share & Trends Analysis Report by Type (Tools, Technology) by Application (Medical, Industrial, Food and Agriculture, Environmental) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)
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Revenue Insights
Current Year
2024
Forecast Year
2035
CAGR Revenue
23.20%
Largest Region
North America
Fastest Region
Europe
Base Year
2024
Historic Data
2023 - 2027
Forecast Period
2027 - 2035
Report Coverage
The final deliverable will encompass both quantitative and qualitative data, providing a comprehensive analysis of the market. The scope is customizable.
Overview
Market Synopsis:
Global Synthetic Biology Market is valued at USD 10.11 Billion in 2021 and is projected to attain a value of USD 32.73 Billion by 2028 at a CAGR of 23.20% during the forecast period, 2022–2028. Living materials, biocomputing, therapeutic genome editing, living biotherapeutics, multiplexed diagnostics and cellular recording, electrical interfacing, and third-generation biorefineries have all benefited from Synthetic Biology advancements in recent years. Agriculture, pharmaceutical, and biotechnology industries have been able to generate synthetic biology products thanks to advances in genome editing, gene circuit design, metagenomic discovery, automated strain engineering, directed evolution, and metabolic engineering. Chemicals produced by altered cells/enzymes, such as genome-edited soy, CAR-Ts, and engineered bacteria, include diamines, sitagliptin, and leghemoglobin.
The growing population and changing eating habits, combined with resource scarcity, have aided nutrition research and development. Synthetic Biology has helped to identify a number of good food production technologies. The technology is projected to aid in the generation of higher food yields and the advancement of pest management techniques.
Rising R&D Funding and Growing Initiatives in Synthetic Biology
Due to extended research times and approval delays, the R&D business has always been capital-intensive. R&D is recognised by governments as a critical investment for a countrys prosperity, international competitiveness, and public benefit. As a result, R&D spending and funding have steadily increased throughout the years. According to Business Wire (September 2020), the life sciences industrys R&D spending increased by 22% from 2018 to 2019. Pharmaceutical and biotechnology businesses spend a lot of money on research in order to produce breakthrough compounds that will meet the expanding demands of the healthcare industry and fight new ailments. The global pharmaceutical R&D sector contributes for over 80% of the life sciences industrys total R&D spending.
Biosafety, biosecurity, and ethical concerns
The purposeful or unintended release of synthetic organisms into the environment during research and other uses is a major biosafety risk in Synthetic Biology. When synthetic microorganisms are released into the environment, they can mutate or interact with other species, leading to crossbreeding and bio errors. This may put natural species' ecosystems in jeopardy. Another major biosafety worry is the emergence of antibiotic-resistant superbugs. The European Union (EU) has recently supported various studies into the environmental impact of genetically modified bacteria released for plant growth or bioremediation.
Market Segmentation:
The Global Synthetic Biology Market has been segmented by Product (Core Products and Enabling Products, Enabled products), Application (Healthcare, Chemicals (Including Bio-Fuels), Food and Agriculture, Other Applications (Biosecurity, Energy, and Environment). Based on Region, the Synthetic Biology Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
North America to Continue Dominating the Synthetic Biology Market
North America, and Europe accounted for the largest proportion of the Synthetic Biology Market in 2020. Factors such as the increase in the number of well-established Synthetic Biology companies and research institutes in the United States and Canada, a large number of ongoing research studies, and the overall growth of the healthcare sector on a global scale are among the few factors expected to contribute to the markets growth. One of the primary causes leading to the growing demand for Synthetic Biology techniques and technologies among academic and research organisations, as well as healthcare firms in North America, is increased R&D spending.
Key Players:
Key players in the synthetic biology market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Novozymes A/S (Denmark), Ginkgo Bioworks (US), Amyris (US), Precigen, Inc. (US), GenScript (China), Twist Bioscience (US), Synthetic Genomics (US), Codexis (US), Synthego (US), Creative Enzymes (US), and Eurofins Scientific (Luxembourg).
Synthetic Biology Market is segmented as follows:
Synthetic Biology Market is tabulated as follows:
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Synthetic Biology Market Growth and Trends | Insights & Forecast 2025-2035 Market Size, 2024 To 2035 (USD Billion)
Source: www.vantagemarketresearch.com
Market Segmentation
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis | |
| Pricing and purchase options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
Historical & Forecast Data
Base Year
2024
Historic Year
2018 - 2022
Forecast Year
2023 - 2032
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