Synthetic Biology Market - Forecast, 2024 - 2030

Synthetic Biology Market Overview

The Synthetic Biology Market Size is forecast to reach $ 58544.6 Million by 2030, at a CAGR of 21.80% during forecast period 2024-2030. Synthetic biology (SynBio) is a multidisciplinary sector of research that looks for developing novel biological parts, equipment, and systems, or to remodel systems that are presently discovered in nature. Synthetic biology is a section of science that includes a comprehensive series of methods from different disciplines, like biotechnology, genetic engineering, molecular biology, molecular engineering, systems biology, membrane science, biophysics, chemical and biological engineering, electrical and computer engineering, control engineering, and evolutionary biology. DNA sequencing decides the sequence of nucleotide bases in a DNA molecule. DNA sequencing is utilized in the work of Synthetic Biology in numerous ways. Naphazoline Hydrochloride Ophthalmic Solution is recorded for application as a topical ocular vasoconstrictor. Possibly one of the most hopeful facets of genome engineering together with synthetic biology is the novodesign and development of novel organisms. The synthetic clones are being utilized by research groups globally to assess corona samples, discover antiviral medications, and develop vaccines as rapidly as achievable.

The COVID-19 pandemic is set to drive the Synthetic Biology Market owing to the upsurge in demand and reduced manufacture brought about by global lockdowns and dearth of labor. The soaring prices generating greater revenue and the massively accelerated R&D endeavors for the development of vaccines and medications in conjunction with synthetic clones to combat COVID-19 is set to propel the growth of the Synthetic Biology Market during the forecast period 2022-2027. This represents the Synthetic Biology Industry Outlook.

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Report Coverage

The report: “Synthetic Biology Market Forecast (2024-2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the Synthetic Biology Market.

By Product: Core Products, Enabling Products, Enabled Products.

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By Tool: Oligonucleotides and Synthetic DNA, Enzymes, Cloning Technology Kits, Synthetic Cells, Chassis Organisms, Xeno Nucleic Acids.

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By Technology: Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-Directed Mutagenesis, Cloning, Measurement And Modeling, Microfluidics, Nanotechnology.

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By Application: Healthcare, Artificial Tissue & Tissue Regeneration, Industrial, Food And Agriculture, Environmental, Others.

By Geography: North America (the U.S, Canada, and Mexico),?South America (Brazil, Argentina, Chile, Colombia, Rest of South America),?Europe (Germany, France, UK, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), and Rest Of The World (Middle East, Africa).

Key Takeaways

• Geographically, North America Synthetic Biology Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2024-2030?owing to the surging demand for bio-based products, proliferating financing in synthetic biology firms, and increasing R&D capital for synthetic biology and DNA sequencing in the North American region.
• Synthetic Biology Market growth is being driven by the burgeoning backing from the government and private institutions and the heightening R&D financing in drug discovery and DNA sequencing. However, the deliberate or accidental discharge of synthetic organisms into the atmosphere at the time of research and additional applications is a critical biosafety hazard in synthetic biology and is one of the major factors hampering the growth of the Synthetic Biology Market.?
• Synthetic Biology Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Synthetic Biology Market report.?

Synthetic Biology Market Segment Analysis – By Technology:

The Synthetic Biology Market based on technology can be further segmented into Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-Directed Mutagenesis, Cloning, Measurement And Modeling, Microfluidics, and Nanotechnology. The Genome Engineering Segment held the largest market share in 2021. This growth is owing to the surging financing by the government and the boost in the count of genome investigations. The emergence of novel genome-editing methods like CRISPR and the increased potential of genome-editing methods to treat genetic ailments like cystic fibrosis and diabetes are further propelling the growth of the genome engineering segment.

Furthermore, the Sequencing segment is estimated to grow with the fastest CAGR of 22.6% during the forecast period 2024-2030 owing to the heightening application of DNA Sequencing in imaging, nanotechnology, bioinformatics, and the establishment of efficient gene therapy for the treatment of different kinds of ailments.?

Synthetic Biology Market Segment Analysis – By Application:

The Synthetic Biology Market based on the application can be further segmented into Healthcare, Artificial Tissue And Tissue Regeneration, Industrial, Food And Agriculture, Environmental, and Others. The Healthcare segment held the largest market share in 2021. This growth is owing to the accelerated growth of synthetic biology regarding the different therapeutic techniques by utilizing live bacteria, artificial cells, and engineered phages. Certain research institutes like National Human Genome Research Institute (NHGRI) have looked for DNA Sequencing technologies suitable for conventional laboratory and medical utilization. The different initiatives employed by the government and additional organizations are further propelling the growth of this segment.

Furthermore, the Industrial segment is estimated to grow with the fastest CAGR of 22.9% during the forecast period 2024-2030 owing to the extensive current developments in synthetic biology and metabolic engineering in microalgae in the direction of biofuel generation in conjunction with new DNA sequencing technologies backing industrial biotechnology.

Synthetic Biology Market Segment Analysis – By Geography:

The Synthetic Biology Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Synthetic Biology Market) held the largest share with 34% of the overall market in 2021. The growth of this region is owing to the extensive contribution of the U.S. in the sectors of Drug Discovery, genomics including genome sequencing or DNA sequencing, and proteomics and structure prediction in the region. The boost in the count of well-furnished laboratories, thriving biotechnology industry and the existence of key players like GenScript in the region are propelling the growth of the Synthetic Biology Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2024-2030. This growth is owing to factors like the increasing population of the elderly, surging R&D activities in genome engineering, and proliferating initiatives by governments in the healthcare sector. The increasing predominance of incessant ailments in conjunction with the soaring attentiveness of key players in broadening the market presence in the region is fuelling the progress of the Synthetic Biology Market in the Asia-Pacific region.