Synthetic Biology Market | CAGR is Expected to Grow at 23% by 2020, Globally

Synthetic Biology Market Report, published by Allied Market Research, forecasts that the global market was valued to be $5.2 billion in 2015 and is expected to grow a CAGR of 23% during the period 2015 - 2020.Nucleotide synthesis and sequencing technology segment would continue to lead the market until 2020. Synthetic oligos and software tools segment, collectively, held around half of the market share in 2015.

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The global synthetic biology market is poised to grow at a CAGR of 23% between 2015 to 2020 owing to its growing applications in drug & vaccine development, biofuel production and high demand for bio-based polymers & biochemical. Emerging applications across novel fields of research, such as agriculture and bioremediation are expected to further drive the market growth. Synthetic biology has gained popularity in hazardous waste cleanup initiatives through engineered microbes, which can degrade recalcitrant chemicals such as dioxins, pesticides or even radioactive compounds. Engineered crops, through synthetic biology, would bridge the gap between supply and demand globally. However, factors such as biosafety and biosecurity issues may hinder the market growth.

Key Findings of Synthetic Biology Market:

• Synthetic cells segment is projected to grow at a highest CAGR of 25.5% during the forecast period.
• Synthetic oligos would continue to remain as the leading revenue generating segment, garnering around one fourth of the market share by 2020.
• Microfluidics technology is projected to be the fastest growing segment, registering a CAGR of 32.5%.
• Biofuels application segment is expected to register a highest CAGR of 24.2%.
• Asia-Pacific bagged about 22% market share in 2015.

Europe is estimated to be the highest revenue generator in the synthetic biology market in 2015. North America and Europe, collectively, accounted for around two-thirds of the overall market in 2015, and this trend is expected to continue during the forecast period. The key companies profiled in the report are Thermo Fischer Scientific, GenScript, DNA2.0, Integrated DNA technologies, Eurofins Scientific, Inc., Origenetechnologies, Scientific genomics Inc. Editas Medicine, Inc., Pareto Biotechnologies, Blue heron, TeselaGen, Twist biosciences, Syntrox Inc., and others.

Synthetic Biology Market Key Benefits:

• This report provides an extensive analysis of the current and emerging market trends and a comprehensive overview of dynamics in the global synthetic biology market.
• The report provides a detailed analysis of the current market and estimations during 2014‐2020, which would enable the stakeholders to capitalize on the prevailing opportunities.
• The synthetic biology market scenario has been comprehensively analyzed in accordance to key geographical regions.
• The key players operating in the industry have been profiled in the report, and their strategies have been thoroughly analyzed to understand the competitive outlook of the market.
• Competitive intelligence highlights the business practices followed by leading market players adopted by them to increase their market share across various geographies.
• SWOT analysis enables to study the internal environment of the leading companies and the factors affecting their size are highlighted for effective strategy formulation.

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