Synthetic Biology Market Current Scenario and Future Growth Analysis by 2026 | Thermo Fisher Scientific, Twist Bioscience Corporation, Genscript Biotech Corporation, Codexis, Amyris,

Increasing concerns regarding depleting natural resources of oil reservoirs is propelling demand for replacement for fossil fuels. Biofuel production is increasing steadily with promising results. Furthermore, rising concerns regarding climate change and energy security makes biofuel an efficient alternative for fossil fuels. In this context, synthetic biology has shown promising result for biofuel production. Synthetic biology approaches can be used in reducing cost of celluloses and, thereby, of biofuels. Moreover, various companies are engaged in collaboration and partnership activities to use their expertise in the synthetic biology to produce cost-efficient biofuels.

Growing adoption of synthetic biology in emerging applications such as genetically modified crops (GMCs) in agriculture, green chemicals, and biofuels in the industrial applications will offer lucrative growth opportunity in the near future.

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Since 2014, rising engagement of various investors to fund the synthetic biology companies including established and startup companies is continuously increasing. For instance, according to SynBioBeta LLC January 2018 data findings, 50 companies in the synthetic biology market raised around US$ 1.7 billion for the development of innovative synthetic biology technologies.

Market Dynamics

Furthermore, growing research and development (R&D) activities to develop new technologies in synthetic biology by government and private organizations and increasing demand for efficient alternative therapy to design and market active pharmaceutical ingredients (APIs) in drug diagnosis and therapeutics are other growth factors, which will drive the synthetic biology market growth.

Synthetic biology is majorly used in applications such as bioremediation, gene synthesis, industrial enzyme production, drug discovery, therapeutics, and green chemicals, among others. However, utilization of these applications is increasing concern regarding the risk and ethical issues associated with synthetic biology, which include off-target mutation development, environmental misbalance, and various other illegal usage of DNA sequencing.

Furthermore, the regulations that govern synthetic biology are not designed specifically for synthetic biology and are inadequate to regulate new gene editing applications such as CRISPR gene editing. The current legal framework focuses on genetically modified products and the procedures to make them, create a hurdle in the growth of synthetic biology market. Furthermore, stringent regulations related to the application of genetically modified organism (GMOs) in developed economies such as the U.S. and Europe reflects the concern related to the adoption of synthetic biology in the near future.

Key features of the study:

This report provides in-depth analysis of synthetic biology market, its market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2018 – 2026), considering 2017, as the base year.
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
It profiles key players in the global synthetic biology market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
Detailed Segmentation:

Global Synthetic Biology Market, By Product Type:
Oligonucleotides
Enzymes
Cloning and Assembly Kits
Xeno-nucleic Acids (XNA)
Chassis Organism
Global Synthetic Biology Market, By Technology:
Gene Synthesis
Next-generation Sequencing
Cloning and Sequencing
Bioinformatics
Wide Range of Synthetic Biology Applications

Synthetic biology offers high efficiency to re-engineer and design the artificial bimolecular components and biomaterials, which are majorly adopted in several biological, industrial, and environmental applications such as gene engineering, drug discovery & therapeutics, novel protein synthesis, artificial tissue regeneration, biofuels, industrial enzymes, bioremediation, and green chemicals.

In recent times, synthetic biology is tested to be used for storage of digital data. DNA offers potential to store the massive amount of digital data, allowing to store one million times more dense information than flash drives, and this data stored in DNA can be preserved for over 1,000 years. Furthermore, it is also easier to prevent or detect the attempt to modify the stored data in the DNA. Currently, various research and possible attempts are ongoing to commercialize this technology.

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