How is growing R&D investments in Drug Discovery and Development Driving Synthetic Biology Market? Amyris, Intrexon Corporation, Thermo Fisher Scientific, Synthetic Genomics, New England Biolabs, Integrated DNA Technologies

According to a research conducted by the P&S Intelligence, the global synthetic biology market is expected to generate a revenue of $23.8 billion and advance at a CAGR of 35.4% in the near future. Among several reasons for the growth of this market is the increasing geriatric population.

Synthetic Biology Market Key Players are:
1- Amyris
2- Intrexon Corporation
3- Thermo Fisher Scientific
4- Synthetic Genomics
5- New England Biolabs
5- Integrated DNA Technologies

According to the United Nations Department of Economic and Social Affairs, the population of people aged 60 years and above is rising at a high rate; the number rose from 9.2% in 1990 to 11.7% in 2013 and is further predicted to reach 21.1% by 2050. People aged 60 years and above are more prone to illness because of low immunity and metabolic rate, due to which diseases such as cancer and immunological diseases affect elderly people more severely. The treatment of such diseases requires more effective biotherapeutics and synthetic biology helps achieve the same by enabling designing of novel strategies for the treatment as well as production of cheap drugs.

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The segments of the field of synthetic biology are technology and tool. Among these, synthetic biology technology was the most in demand during 2011-2014. Synthetic biology has become more significant due to the utilization of several innovative and advanced technologies which are used in the field of life sciences for developing biological systems and bio-based products, designing, and redesigning. The two foundational technologies applied by synthetic biology are DNA synthesis and DNA sequencing. DNA synthesis provides the ability to design new, synthetic biological systems and parts and DNA sequencing helps understand the components of natural biological systems. Synthetic biology technology is further bifurcated into enabling and enabled.

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Several applications of synthetic biology are chemical, agriculture, pharmaceutical & diagnostic, energy, and research & development. The largest demand for synthetic biology was created by the pharmaceutical & diagnostic application during 2011-2014 and the situation is going to be the same in the coming years as well. The combination of medical science and synthetic biology allows swift discovery of therapeutics and target-specific antibodies, along with peptide screening with degenerate gene libraries. Furthermore, synthetic biology involves the development of several diagnostic technologies for diseases, such as metabolic disorders, immunological disorders, and others.

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