Synthetic Biology Market Outlook to 2025 - Agilent Technologies, New England Biolabs, Amyris, Twist Bioscience, Synthetic Genomics Integrated DNA Technologies, Integrated DNA Technologies, Novozymes and GenScript

According to a new market research study titled ‘Synthetic Biology Market to 2025 – Global Analysis and Forecasts by Product, Technology and Application, the global synthetic biology market was valued at US$ 8,244.8 Mn in 2017 and is estimated to reach US$ 56,044.9 Mn by 2025. The report highlights the trends prevalent in the global synthetic biology market and the factors driving the market along with those that act as deterrents to its growth.

Rising numbers of start-up companies is driving the market for synthetic biology over the forecast period.

The market for synthetic biology is witnessing a potential growth rate during the previous years and is expected to witness similar trend in the coming years. Global synthetic biology market is driven by extensive use of enzymes kits and other gene synthesis products in research institutes and academics. Additionally, rising demand for enzyme based kits and solutions required for gene manipulation and rising awareness about genetic engineering among the healthcare professionals in developed nations also accelerate the market growth. However, competition among existing market players may restrain the growth of the market.

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The major players operating in the market of synthetic biology market include ThermoFisher Scientific Inc., Merck KGaA, Novozymes, Agilent Technologies, Amyris, GenScript, Integrated DNA Technologies, Inc., Twist Bioscience, New England Biolabs, Synthetic Genomics Inc. and others.

On the basis of product, the market is segmented into enzymes, oligonucleotides, chassis organisms and xeno-nucleic acids. Enzymes acquired the largest market among the products due to its wide range of applications in healthcare. On the basis of technology, the market is segmented into gene synthesis, genome engineering, measurement and modeling, cloning and sequencing, nanotechnology, and others.

The global synthetic biology market is a matured market in the developing countries as well as developing economies worldwide. Increasing number of start-up companies is a major driver for the growth of synthetic biology market. In the recent years, there has been a significant rise in the number of start-up companies in the US. Various government initiatives and funding programs for biotechnology enable the entrepreneurs of these start-ups to raise funds, equipment and space in respective regions. For instance Indie Bio, a synthetic biology accelerator program headquarter at California, US and Ireland offers funding and mentorship through its three-month training program. Moreover, the technological advancement has headed emergence of the New Bioeconomy, which is the replacement of petrochemical-based manufacturing and fermentation-based manufacturing products. In addition, the investments from public and private investors are rising for the synthetic biology. The rise in the investment are enabling technological developments and standard biological parts.

North America is the largest market owing to government funds, investments made by the major companies, conferences held for the awareness regarding synthetic biology, technological advancements in the field of genomics, and higher acceptance by the consumers.

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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the synthetic biology market.

-Highlights key business priorities in order to assist companies to realign their business strategies.

-The key findings and recommendations highlight crucial progressive industry trends in the global synthetic biology market, thereby allowing players across the value chain to develop effective long-term strategies.

-Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

-Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

-Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution

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This release was published on openPR.