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Synthetic biology market is set to grow at a CAGR of 15.5% during the forecast period 2019 - 2022.

06-07-2019 03:56 PM CET | Health & Medicine

Press release from: Allied Market Research

Synthetic Biology Market

Synthetic Biology Market

"Global Synthetic Biology Market (Products, Technologies, Applications and Geography) - Global Opportunity Analysis and Forecast - 2013 - 2020", the global synthetic biology market is forecast to reach $38.7 billion by 2020, at a CAGR of 44.2% during the forecast period (2014 - 2020). Europe occupies largest share in the global market and would hold-on to its position throughout 2020. However, Asia Pacific is the fastest growing market with a CAGR of 46.4% from 2014 - 2020.

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Synthetic biology is at a nascent stage and has recently entered the commercial market. Many technologies that utilize synthetic biology are yet to be commercialized, and are waiting for approvals from the respective regional regulatory bodies. However, this market is expected to witness adoption in varied domains, with chemicals, pharmaceuticals, energy and agriculture, as some major application markets. Key factors fueling the growth of this market include assistance from government and private organizations, rising number of entities conducting research and declining cost of DNA sequencing and synthesizing.
Bio-safety & bio-security and ethical issues are key restraining factors of the market. The fact that synthetic biology can be misused has raised concerns all around the world. However, as far as the market dynamics are considered, the bottom line is that the overall impact of these factors would be highly positive.

Global synthetic biology market is segmented based on product, technology, application, and geography. Synthetic biology product market is further segmented into enabling products, enabled products and core products. Enabling product is the fastest growing segment in the product market due to ongoing researches that may bring-innovative ideas for application of synthetic biology in new fields. Thus, the need for enabling products, during R&D activities and in the development of enabled products, would rise.

DNA synthesis is the largest segment within enabling products segment, whereas oligonucleotide synthesis is expected to be fastest growing market at 57.8% CAGR during 2014 and 2020. Chassis organism would be the fastest growing core product during the forecast period with synthetic DNA occupying largest market share.

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Other core products included in the study are synthetic genes, synthetic sells, and XNA. Biofuels, within enabled product segment, is expected to exhibit tremendous growth; registering a CAGR of 110.1% during forecast period. However, synthetic biology-based pharmaceuticals and diagnostics products will generate largest amount of revenue within enabled product segment followed by agriculture and chemicals sub-segments.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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