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Global Synthetic Biology Market Size By Type (Core Products and Enabling Products), By Application (Pharmaceuticals, Protein Therapeutics, Medical Industry), By Geographic Scope And Forecast
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Synthetic Biology Market Size And Forecast
Synthetic Biology Market size was valued at USD 10.42 Billion in 2021 and is projected to reach USD 63.78 Billion by 2030, growing at a CAGR of 22.33% from 2022 to 2030.
The increase in the number of synthetic biology research laboratories, aid and assistance from governments, and increasing advanced technologies in are some of the factors fueling the growth of the market. However, bio-security issues can hamper the growth of the market. The Global Synthetic Biology Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Synthetic Biology Market Definition
Synthetic biology is an interdisciplinary field that consists of the application of engineering ideas in the field of biology. In comparison to other disciplines of Science and Technology, its primary goal is to restructure and construct biological components, which do not exist in nature. Researchers of this field combine a chemical structure of DNA with developed understanding to assure the rapid manufacturing of changed DNA sequences and their merger into two genomes. Synthetic biology’s effective deployment offers the potential to solve problems in medical, agriculture, and production.
Synthetic biology’s fundamental goal is to build completely functional biological systems from the tiniest basic pieces, such as DNA, proteins, and other organic molecules. It employs a variety of scientific methods and approaches. The synthetic systems developed could be used to make a variety of items, including ethanol and pharmaceuticals, as well as whole synthetic creatures like sophisticated bacteria which can digest and neutralize harmful compounds. These biological systems are, in theory, far safer and simpler than approaches to manipulating naturally occurring biological things.
The main application of synthetic biology is the standardization of biological parts, which can be used to construct new biological systems. Its other applications include redesigning the old biological parts and upgrading natural proteins for new functions, engineering the microbes to create desired enzymes, and creating a simple genome for natural bacteria. Engineering Rose oil made from yeast is a more environment-friendly and long-lasting alternative to natural roses used by perfumers to create high-end perfumes. Scientists may now design and manufacture customized microbe chromosomes that can be employed in the utilization of alternative chemicals and bio-based specialty chemicals thanks to advances in DNA synthesis speed and cost.
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Global Synthetic Biology Market Overview
The increase in the number of synthetic biology research laboratories is the main key driver of the market. The rising research and development methods in the pharmaceutical and bio-engineering industries is the main factor for rising in the number of synthetic biology research laboratories. The Pharmaceutical industry refers to the discovery, development, and marketing of drugs that are used in medications, which are administered to patients, with the aim to prevent and cure their disorders. The advanced research and development and favorable government strategies drive induced the pharmaceutical industry. Biotechnology is the merging of natural sciences and engineering services in order to study the applications of organisms, cells, and molecular structures and it includes genetic engineering, cell, and tissue culture advancements.
Protein therapeutics are important in pharmacology and they can be divided into various groups such as replacing a protein that is deficient or abnormal, augmenting an existing pathway, providing a novel function or activity, interfering with a molecule or organism, and delivering other compounds or proteins. An increase in aid and assistance from governments, and increasing advanced technologies in DNA sequencing are some of the factors likely to drive the growth of the synthetic biology market. Various governments made investments in the production of vaccines and it will be easier by using synthetic biology techniques.
Synthetic Biology functions need a skilled workforce to handle the process and proper use of analytical technologies requires expertise with knowledge and experience. Therefore, the lack of skilled professionals can hamper the growth of the market. However, bio-security issues can be another factor to decreases the growth of the market.
Global Synthetic Biology Market Segmentation Analysis
The Global Synthetic Biology Market is segmented on the basis of Type, Application, And Geography.
Synthetic Biology Market, By Type
• Core Products• Enabling Products
Based on Type, the market is segmented into core products and enabling products. The Core products consist of synthetic genes, synthetic cells, and synthetic DNA. Synthetic DNA contributes to the largest share of the segment. The increased use of advanced technologies in the pharmaceuticals & biotechnology industry has fueled the growth of extensive market penetration.
Synthetic Biology Market, By Application
• Pharmaceuticals• Protein Therapeutics• Medical Industry• Artificial Tissue Regeneration• Food & Agriculture• Others
Based on application, the market is segmented into Pharmaceuticals, Protein Therapeutics, Medical Industry, Artificial Tissue Regeneration, Food & Agriculture, and Others. Various governments made investments in the production of vaccines and a variety of drugs in the pharmaceutical industry.
Synthetic Biology Market, By Geography
• North America• Europe• Asia Pacific• Rest of the world
On the basis of regional analysis, the global synthetic biology market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American region is expected to witness the highest CAGR during the forecast period. This is mainly owing to the higher advancement of modern technology in Biotechnology and Protein crystallization techniques.
Key Players
The “Global Synthetic Biology Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Cyrus Biotechnology, Precigen, GenScript Biotech, Integrated DNA Technologies, New England Biolabs, Thermo Fisher Scientific, Merck Group, Viridos, Codexis,, Synthego Corporation, etc. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
• In September 2021, Cyrus Biotechnology announced a collaboration with Selecta Biosciences for the formation of Therapeutic Proteins. The Novel interleukin-2 (IL-2) technologies will lead to advanced innovation in therapeutic developments.
• In November 2020, Codexis announced a collaboration with Casdin Capital to launch the Synthetic Biology Innovation Accelerator. It will be useful to develop unique product capabilities in the biotech industry.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period |
2018-2030 |
| Base Year |
2021 |
| Forecast Period |
2022-2030 |
| Historical Period |
2018-2020 |
| Unit |
Value (USD Billion) |
| Key Companies Profiled |
Cyrus Biotechnology, Precigen, GenScript Biotech, Integrated DNA Technologies, New England Biolabs, Thermo Fisher Scientific, Merck Group, Synthego Corporation, etc. |
| Segments Covered |
By Type, By Application, And By Geography. |
| Customization scope |
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Research Methodology of Market Research
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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