Synthetic Biology Market is looking to raise up to 23% CAGR by 2020 End : Thermo Fischer Scientific, GenScript, DNA2.0, Integrated DNA technologies, Eurofins Scientific, Inc., and Other top key Players included

Synthetic biology is a novel area of research that is the amalgamation of multiple disciplines such as molecular biology, biotechnology, biophysics and genetic engineering among others.

Allied Market Research, forecasts that the global Synthetic Biology 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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There are chiefly two approaches used in synthetic biology namely, top down approach and bottom up approach. Top-down approach involves the re-design and fabrication of existing biological systems for producing synthetic products. Bottom-up approach involves designing and construction of de novo biological systems or devices that do not exist in nature. An impending need to understand the functioning of genetic elements, cells and biological processes has led to the emergence of synthetic biology industry. Products developed in this new biological system are used across many industries, including pharmaceutical & diagnostics, energy, bioplastics and environment.

Assistance from government and private organizations, rising number of synthetic biology research entities and declining cost of DNA sequencing & synthesizing are the major factors driving the market growth. On the contrary, bio-safety & bio-security issues, would hinder the industry growth. The issues related to the misuse of synthetic biology or possibilities of accidental release of pathogens into free atmosphere would remain as a key challenge worldwide. However, rising demand for bio-fuels, growing awareness in emerging economies and rising R&D investments for synthetic drugs and vaccines would offer lucrative opportunities in the market.

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.

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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.

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