Synthetic Biology Market Segmentation, Parameters and Prospects 2023 to 2030 Industry Research Report

 

Synthetic Biology Industry Overview

The global synthetic biology market size was valued at USD 13.09 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 18.97% from 2023 to 2030.

The increasing scope of synthetic biology applications for multiplexed diagnostics & cellular recording, as well as therapeutic genome editing, is anticipated to surge its demand during the study period. Additionally, the utility of organisms and products from synthetic biology techniques in other sectors, including energy and chemicals, is also likely to impact the overall market growth.

Gather more insights about the market drivers, restrains and growth of the Synthetic Biology Market

The outbreak of COVID-19 led to an increased usage of synthetic biology products in the past 2 years. Many key pharmaceutical and biotechnology companies as well as synthetic biology players in the industry have increased their research activities globally, by adopting new techniques for producing test kits, therapies, and vaccines for COVID-19. In a study from European Parliament, synthetic biology is considered to be one of the developing technologies. It has the ability to be used in combating COVID-19 infection. Synthetic biology has also been highlighted as a means to accelerate vaccine development by the National Institute of Health in the U.S.

The global market is expected to advance as a result of the growing research and development activities in various fields. To improve conventional biofuel production, players are implementing synthetic biology approaches to enhance performance and increase the utilization of low-cost inputs such as waste. For instance, fashion companies such as Modern Meadow, Bolt Threads, and Vitro Labs are employing biotechnology to develop sustainable materials.

The market witnessed strong investments from private & public partnerships. As per the data published by SynBioBeta, the startups in the synthetic biology industry raised 7.8 billion in investment in 2020, and USD 18.0 billion in 2021. Companies such as Arbor Biotechnologies and DNA Script raised around USD 215 million and USD 167.2 million, respectively. The heavy investment increases the circulation of funds in the market and supports the growth of companies across the supply chain.

Furthermore, advances in genome editing and the presence of bio-foundries, as well as the availability of natural resources and enormous markets, are highlighted as global strengths in synthetic biology to build a bio-based economy. The possible challenges to the field's long-term development, such as insufficient infrastructure and policies, are discussed along with proposals for overcoming them through public-private partnerships, more effective multilateral cooperation, and a well-developed governance framework.

Additionally, players in the market are entering with the latest technologies in order to meet the growing demand and capture untapped avenues of the market. For instance, in November 2021, Creative Biogene released its broad shRNA products to accelerate RNAi research. The company has broad expertise and experience to offer high-quality RNAi products, including shRNA clones and siRNA libraries, intending to provide effective, convenient, and reliable tools to fast-track RNAi research.

Browse through Grand View Research's Biotechnology Industry Research Reports.

• The global recombinant DNA technology market size was valued at USD 728.9 billion in 2023 and is projected to grow at a CAGR of 5.4% from 2024 to 2030.

• The global DNA diagnostics market size was estimated at USD 10.64 billion in 2023 and is projected to grow at a CAGR of 4.51% from 2024 to 2030.

Global Synthetic Biology Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global synthetic biology market report based on technology, product, application, end-use, and region:

Technology Outlook (Revenue, USD Million, 2018 - 2030)

·         NGS Technology

·         PCR Technology

·         Genome Editing Technology

·         Bioprocessing Technology

·         Other Technologies

Product Outlook (Revenue, USD Million, 2018 - 2030)

·         Oligonucleotide/Oligo Pools and Synthetic DNA

·         Enzymes

·         Cloning Technologies Kits

·         Xeno-Nucleic Acids

·         Chassis Organism

Application Outlook (Revenue, USD Million, 2018 - 2030)

·         Healthcare

o    Clinical

o    Non-Clinical

·         Non-healthcare

o    Biotech Crops

o    Specialty Chemicals

o    Bio-fuels

o    Others

End-use Outlook (Revenue, USD Million, 2018 - 2030)

·         Biotechnology and Pharmaceutical Companies

·         Academic and Government Research Institutes

·         Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

·         North America

o    US

o    Canada

·         Europe

o    UK

o    Germany

o    France

o    Italy

o    Spain

o    Russia

·         Asia Pacific

o    Japan

o    China

o    India

o    Australia

o    Singapore

·         Latin America

o    Brazil

o    Mexico

·         Middle East & Africa

o    South Africa

o    Saudi Arabia

o    UAE

Key Companies & Market Share Insights

Key players in this market are implementing various strategies to increase profitability, including partnerships, mergers & acquisitions, geographical expansions, and strategic collaborations. For instance, in July 2021, Codexis, Inc. and Kalsec, Inc. announced the expansion of their research collaboration and enrolled in a special supply agreement for a new enzyme to manufacture Kalsec’s newest natural hop acid. Some prominent players in the global synthetic biology market include.

·         Bota Biosciences Inc.

·         Codexis, Inc.

·         Creative Biogene.

·         Creative Enzymes.

·         Enbiotix, Inc.

·         Illumina, Inc.

·         Merck Kgaa (Sigma-Aldrich Co. Llc)

·         New England Biolabs

·         Euro fins Scientific

·         Novozymes

·         Pareto Bio, Inc.

·         Scarab Genomics, Llc

·         Synthego

·         Synthetic Genomics Inc.

·         Thermo Fisher Scientific, Inc.

Order a free sample PDF of the Synthetic Biology Market Intelligence Study, published by Grand View Research.

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