Synthetic Biology Market by Product, Technology, Application and Key Players 2018-2025: GenScript, Intrexon Corporation, Integrated DNA Technologies, Inc., New England Biolabs, Inc., Synthetic Genomics

Industry Trend Analysis
The synthetic biology market is expected to be around 26 billion by 2025. Synthetic biology is termed as designing and manufacturing of new biological parts, devices, and systems by applying engineering principles. It also involves redesigning of existing natural biological components. The market is largely driven by factors such as increasing research and development related expenditure by biotechnology and pharmaceutical companies, increase in the production of genetically modified crops and rising demand for synthetic genes. However, factors such as concerns related to biosafety and biosecurity and stringent regulatory policies can hamper the growth of the global synthetic biology market.

Product Outlook and Trend Analysis
Enabled product segment dominated the global synthetic biology market in 2016. This can be attributed to increasing demand for higher-value specialty products including chemicals, fragrances, drugs/therapies, and flavors. On the other hand, core product is expected to be the fastest growing segment during the forecast period. This can be attributed to increasing synthetic-biology foundries, growing demand for synthetic genes, and initiatives by companies to manufacture and develop DNA constructs.

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Application Outlook and Trend Analysis
Healthcare segment dominated the overall market in 2016. This can be attributed to rising usage of synthetic biology in manufacturing economical vaccines and drugs.

Regional Trend Analysis
Europe accounted for the major share of the global market for synthetic biology in 2016. This is primarily due to a number of factors such as the rise in R&D efforts for the development of new biological parts and devices and high adoption of technologically advanced products. Asia-Pacific is expected to be the fastest growing segment during the forecast period.

Competitive Analysis
The major players operating in the synthetic biology market are focusing on strategic collaborations to facilitate advanced research and development of innovative solutions in order to capture a larger share of the market. For instance, in February 2016, Caribou Biosciences, Inc. (a leading company involved in the development of CRISPR technology for precision cell engineering) signed a non-exclusive license agreement with Integrated DNA Technologies, Inc., which is a producer of custom synthetic oligonucleotide-based technology. Under the terms of this agreement, Caribou granted IDT rights for the commercialization of CRISPR-Cas9 reagents across the globe under its intellectual property.

Some of the major players in the global synthetic biology market are GenScript, Intrexon Corporation, Integrated DNA Technologies, Inc., New England Biolabs, Inc., Synthetic Genomics Inc., Amyris, Inc., Thermo Fisher Scientific Inc., DuPont, Gingko Bioworks, and Agilent Technologies, Inc.

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Market Opportunities
Asia-Pacific region will offer lucrative growth opportunities due to increasing demand for high-quality nutrition and economical medicines. Additionally, increasing demand for protein therapy will offer growth opportunities for the key players in the market. For instance, in June 2014, Agilent Technologies Inc. launched QuikChange HT Protein Engineering System to accelerate protein engineering by developing libraries of rationally designed protein variants. Moreover, synthetic biology will provide ample opportunities in the field of DNA sequencing and for recreating natural biological systems and highly complex pathways.

Synthetic Biology Market Segmentation:
By Product:
Enabling Products
Oligonucleotide Synthesis
DNA Synthesis
Core Products
Standardized DNA Parts
Synthetic Genes
Chassis Organisms
Enabled Products

By Application:
Agriculture
Chemicals
Biofuels
Healthcare
Others

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