Synthetic Biology Market is Growing at a High CAGR by 2025 - ThermoFisher Scientific, Merck KGaA, Novozymes, Agilent Technologies, Amyris, GenScript, Integrated DNA Technologies, Twist Bioscience, New England Biolabs, and Synthetic Genomics
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.
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The market for synthetic biology is well established in the region of North America, owing to the investments made by the major companies and technological developments in the process of synthetic biology. Various market players have been focusing towards shifting their customer base in North America. For instance, the Government of Canada provides US$950 Mn for innovations to address the growing challenge of developing diverse and highly innovative economy. The development aimed to connect the businesses, academics, and policymakers, for the growth of several high-tech fields. So, this development of new clusters is one of the major factors for the development of domestic synthetic biology market of Canada.
The major players operating in the market of synthetic biology market include ThermoFisher Scientific Inc., Merck KGaA, Novozymes, Agilent Technologies, Amyris, GenScript, Integrated DNA Technologies, Inc., Twist Bioscience, New England Biolabs, Synthetic Genomics Inc. and others. These players focus on developing new products in order to increase their offerings in the market.
Rising numbers of start-up companies is driving the market for synthetic biology over the forecast period.
North America is the largest market owing to government funds, investments made by the major companies, conferences held for the awareness regarding synthetic biology, technological advancements in the field of genomics, and higher acceptance by the consumers.
Europe is the second largest market whose growth is attributed to rising government funding and increasing focus of market players in the Germany and France.The government of UK has started many initiatives in collaboration with major players in the region. For instance, The Horizon 2020 was started by the European unions as one of the largest EU Research and Innovation program in which approximately US$ 96 billion funding was available. The programmes include biotechnology as a key which enables technology for maintaining Europe’s leadership in industrial applications. The Synthetic Biology Leadership Council (SBLC) developed SynBio Strategic Plan, Biodesign for the Bioeconomy. The Department for Business, Energy and Industrial Strategy (BEIS) supports the SBLC for supporting emerging technologies, such as synthetic biology.
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Table of Content:
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
2 Global Synthetic Biology Market – Key takeaways
3 Global Synthetic Biology Market – market landscape
3.2 market segmentation
3.3 Global Synthetic Biology Market – By product
3.4 Global Synthetic Biology Market – By TEchnology
3.5 Global Synthetic Biology Market – By Application
3.6 Global Synthetic Biology Market – By Geography
3.7 PEST Analysis
3.7.1 North America – PEST Analysis
3.7.2 Europe – PEST Analysis
3.7.3 Asia Pacific – PEST Analysis
3.7.4 Middle East & Africa – PEST Analysis
3.7.5 South & Central America – PEST Analysis
4 Global Synthetic Biology Market – Key Market Dynamics
4.1 Key Market Drivers
4.1.1 Increasing Investments for Synthetic Biology
4.1.2 Technological Advancements
4.1.3 Rising Numbers of Start-up Companies
4.2 Key Market Restraints
4.2.1 Renewed Regulations for Biotechnology
4.3 Key Market Opportunities
4.3.1 Company initiatives in Synthetic Biology Market
4.4 Future Trends
4.4.1 Advanced Synthetic Biology
4.5 Impact analysis
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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