Pune, IndiaThe global demand for synthetic biology market in terms of revenue was estimated to be US, Feb. 02, 2021 (GLOBE NEWSWIRE) — The global demand for synthetic biology market in terms of revenue was estimated to be USD 7.54 Billion in 2019 and is expected to reach USD 34.51 Billion in 2026, growing at a CAGR of 21.9% from 2020 to 2026. The global synthetic biology market is expected to grow at a significant growth rate due to the number of driving factors.
Synthetic biology is a field of science which consists of redesigning of organisms for useful purposes with the help of engineering technique for making new abilities. It is the way of harnessing the power of nature to solve problems in medicine, manufacturing, and agriculture for researchers and companies around the world. Microorganisms harnessed for bioremediation to clean pollutants from water, soil, and air. It is used for designing and constructing new biological parts, devices, and systems as well as for re-designing of existing, natural biological systems for useful purposes. It has applications in various industries like diagnostics, cell reprogramming, therapeutics, enzymes, vaccines, biomaterials, biofuels, fine chemicals, and many more.
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Synthetic Biology Player Analysis: Thermo Fisher Scientific Inc., Twist Bioscience, Synthetic Genomics, Inc., Codexis, Inc., Merck KGaA (Germany), Agilent Technologies, Inc., Novozymes A/S (Denmark), Ginkgo Bioworks, Amyris, Inc., Intrexon Corporation, GenScript Biotech Corporation (China), Cyrus Biotechnology Inc., ATUM, TeselaGen, Arzeda, Integrated DNA Technologies, Inc., Synthego Corporation, Creative Enzymes, Eurofins Scientific (Luxembourg) and New England Biolabs (US)
The study provides a crucial view of global synthetic biology market by segmenting the market based on products type, technology, application, and region & country level. Based upon type, the market is segmented into synthetic DNA, synthetic oligos, synthetic genes, software tools, chassis organisms, synthetic clones and synthetic cells. Based upon application, the market is segmented into pharmaceuticals & diagnostics, chemicals, biofuels, bioplastics and others. Based upon technology type, the market is segmented into nucleotide synthesis and sequencing, bioinformatics, microfluidics and genetic engineering.
The global synthetic biology market is expected to drive by the growing demand of synthetic biology in pharmaceutical and biotechnological companies for research and development purposes, government investment in science and technology for drug discovery and synthetic biological products and its applications in various industries. Synthetic biology is a multidisciplinary area of research that seeks to create new biological parts, devices, and systems, or to redesign systems that are already found in nature.
According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA); the pharmaceutical research-based industry has a expenditure of over USD 149.8 billion on R&D per year including the synthetic biology products. In 2015, there were 56 new pharmaceuticals products launched, out of more than 7,000 compounds in development including the synthesis of new bio-based products. However, the lack of predictability in biology, and current technical constraints may hamper the market growth. In spite of that, increasing focus on specialty medicines to create responsive and multifunctional materials with technological advancement using artificial intelligence, machine learning, big data for the clinical research on bio-systems modelling, chassis development, and genome mining as well as increasing the mergers, acquisitions and longer investment in better big data management may create more opportunities for the further growth of the global synthetic biology market during the upcoming period.
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Geographically, the regional segment of global synthetic biology market report is dominated by North America by capturing the largest market of 42.77% in year 2019. The North America is expected to witness substantial growth over the forecast period owing to the high adoption of advanced research and development technology, surge in biopharmaceutical, and pharmaceutical companies for synthetic biological products as well as supportive government initiatives regarding synthetic biology in this region. According to National Centre for Biotechnology Information; the synthetic biology research & development investment by the U.S. government was valued USD 220 Billion annually with the funding from various departments in the U.S. including the Department of Energy, the National Science Foundation (NSF), the DoD (including DARPA), the National Institutes of Health (NIH), and the U.S. Department of Agriculture (USDA).
Asia Pacific is expected to be the fastest growing market due to the increasing prevalence of therapeutics, chronic diseases with raising the research on the biology synthesis for new synthesized bio products and rising in geriatric population. The growth for the synthetic biology market is more probable in the developing countries including India and China. According to the World Health Organization report; in high-income Asia-Pacific countries, the share of the population aged over 65 years is expected to double, to reach an average of 27.6% in 2050, whereas the share of population aged over 80 years is expected to triple to reach 10.2%. In upper-middle income and lower-middle low-income Asia-Pacific countries, the share of population over 65 and over 80 will be two and a half and four times the current share and reach 23.9% and 14.5% (over 65) and 7.9% and 3.5% (over 80) respectively.
Global synthetic biology market has witnessed a tremendous growth in the past few years and expected to continue the same within the forecast period. Several trends have emerged in synthetic biology and some technologies have crystallized and developed into key trends in the global synthetic biology market. Some of the current and latest trends of the global synthetic biology market are as follows:
Computer-aided systems are helping researchers to create genetic circuits to order. Genetic circuits, modelled on the electronic ones, are human-designed combinations of genetic components that interact to produce one or more proteins or RNA molecules. Design tools for genetic circuits should greatly expand the accessibility of the kinds of genetic manipulations typically considered to be ‘synthetic biology.
Cell-free systems have recently evolved into key platforms for synthetic biology applications. Many synthetic biology tools were traditionally dependent on cell-based systems, and while their adoption has shown great progress, the constraints inherent to the use of cellular hosts have limited their reach and scope. Cell-free systems have removed many of these complexities and brought about good opportunities for rational design and manipulation of biological systems.
Synthetic biology is trending in the food technology as it is an emerging technology. Synthetic biology can provide new ways to target specific nutritional deficiencies with high precision and efficiency, but instead of nutrients being consumed, and modified bacteria can be employed to directly synthesize supplement molecules.
Biomonitoring: Biomonitoring is one of the major trends in the synthetic biology market. Biomonitoring and more recent advances propose simultaneous pollutant decontamination and synthesis of useful compounds from the waste products. The later creates opportunities for the development of economically viable solutions in environmental biotechnology.
Small Molecule: In the recent years numbers of labs are increasingly design and construct relatively complex and gene networks able of generating a large range of designer molecules in a range of host cells. As yet, very few small molecules in medicine are manufactured using a synthetic biology process; it remains very difficult to engineer microbes to carry out processes that Nature did not intend.
The product segment of Synthetic Biology market is dominated by synthetic DNA with largest market share of 32.04% in 2019. The application segment of Synthetic Biology market report is dominated by medicine & pharmacy segment by capturing the largest market of 38.2% in year 2019.
Segmentation Analysis of Synthetic Biology Market:
- Synthetic Cells
- Tissue Regeneration
- Renewable Energy
- Food & Agriculture
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