Synthetic biology market growing at a CAGR of 15.5% by 2022 | Top 5 players are Thermo Fischer Scientific, GenScript, DNA2.0, Integrated DNA technologies, Eurofins Scientific
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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 the Synthetic Biology Market:
Synthetic cells segment is projected to grow at the 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 the highest CAGR of 24.2%.
Asia-Pacific bagged about 22% market share in 2015.
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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., Origene technologies, Scientific Genomics Inc. Editas Medicine, Inc., Pareto Biotechnologies, Blue Heron, TeselaGen, Twist biosciences, Syntrox Inc., and others.
3: SYNTHETIC BIOLOGY MARKET OVERVIEW
3.1 Synthetic biology market definition and scope
3.2 Key findings
3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.2.3 Top winning strategies
3.3 Porters five force analysis
3.3.1 Fewer suppliers lead to the higher bargaining power of suppliers
3.3.2 Higher buyer concentration leads to low bargaining power
3.3.3 Low threat of substitutes due to lack of superior alternatives
3.3.4 Low threat of new entrants due to high capital investment
3.3.5 Moderate competitive rivalry
3.4 Value chain analysis
3.4.1 Research and product development
3.4.2 Product testing
3.4.4 End users
3.5 Regulatory Norms
3.6 Concerns related to synthetic biology
3.7 Market Dynamics
184.108.40.206 Funding from government and Private organizations
220.127.116.11 Rising number of research facilities
18.104.22.168 Rising count of new entrants
22.214.171.124 Declining cost of DNA Sequencing
126.96.36.199 Bio-safety and Bio-security Issues
188.8.131.52 Ethical concerns and stringent regulations
184.108.40.206 growing demand for biofuels and Bioplastics
220.127.116.11 increasing research activities in the Asia Pacific region
18.104.22.168 rising R&D investments
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