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Synthetic Biology Market to Receive Overwhelming Hike in Revenues by 2025


Synthetic Biology Ma

iCrowdNewswire   Apr 21, 2020  6:00 PM ET

The growth of this market is primarily attributed to factors such as the increasing demand for synthetic genes & synthetic cells, wide range of applications of synthetic biology, declining cost of DNA sequencing & synthesizing, increasing R&D funding & initiatives in synthetic biology, and increasing investments in the market.

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The global market was dominated by Thermo Fisher Scientific, Inc. (US) in 2019. The company offers synthetic biology products, which include DNA fragments, software, engineering kits, DNA oligos, and clones. The company‘s large share in this market can be attributed to its broad product portfolio, years of experience, and vast distribution channel. The company’s distribution network comprises a broad sales force and a global network of resellers and distributors

How much is the Synthetic Biology Market worth?

The synthetic biology market is projected to reach USD 19.8 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 23.9%.

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By tool, oligonucleotides and synthetic DNA dominated the synthetic biology market in 2019 :

Based on tools, the market segmented into oligonucleotides and synthetic DNA, enzymes, cloning technology kits, synthetic cells, chassis organisms and xeno-nucleic acid. In 2019, the oligonucleotides and synthetic DNA segment accounted for the largest share of the market, followed by enzymes. The large share of the segment can be attributed to the rising demand for synthetic DNA, synthetic RNA, and synthetic genes, which are used in a wide range of research applications.

Gene synthesis accounted for the largest share of the synthetic biology market in 2019 :

Based on technology, the market is segmented into gene synthesis, genome engineering, cloning, sequencing, site-directed mutagenesis, measurement & modeling, microfluidics, nanotechnology, and bioinformatics technologies. In 2019, the gene synthesis segment accounted for the largest share of the market. This large share of the segment can be attributed to the rising demand for synthetic DNA, synthetic RNA, and oligonucleotides across various application industries and its increasing use with genome engineering for the ease and efficiency in genome editing and genome targeting.

Medical applications formed the largest segment of the synthetic biology market in 2019 :

Based on application, the market is segmented into environmental, medical, industrial, and food & agricultural applications. In 2019, the medical applications segment accounted for the largest share of the market, followed by industrial applications. The extensive research on new and better treatments, coupled with the availability of huge private and public funding for the discovery of novel therapies, is the primary driver for the medical applications segment.

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Which are the key players in the nasal drug delivery technology market and how intense is the competition?

The prominent 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, Inc. (US), Intrexon Corporation (US), GenScript Biotech Corporation (China), Twist Bioscience (US), Synthetic Genomics, Inc. (US), Codexis, Inc. (US), Synthego Corporation (US), Creative Enzymes (US), Eurofins Scientific (Luxembourg), Cyrus Biotechnology Inc. (US), ATUM (US), TeselaGen (US), Arzeda (US), Integrated DNA Technologies, Inc. (US), and New England Biolabs (US).

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Keywords:    synthetic biology, synthetic biology market, synthetic biology industry market

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