Synthetic Biology Market Size, Share, Segment Analysis and Future Scope | Amyris, Intrexon Corporation, Thermo Fisher Scientific, Synthetic Genomics, New England Biolabs, Integrated DNA Technologies

The need for advanced and innovative drug discovery and development has increased considerably as the prevalence of various diseases, such as neurological disorders, immunological disorders, infectious diseases, and cancer is rising. Due to this, several biopharmaceutical and pharmaceutical companies are becoming more inclined toward the development of new and more effective biopharmaceutical drugs. This in turn, has been made possible because of the growing research and development investments in drug discovery and development. Since synthetic biology provides innovative solutions for drug discovery, its demand is surging as well. Using synthetic biology, living organisms are genetically developed for required functions in research laboratories. The field derives input from molecular and cell biology, biochemistry, bioinformatics, mathematics, and evolutionary systematics. Synthetic biology elucidates disease mechanisms and target identification, along with providing avenues to design and discover novel biopharmaceuticals and small chemotherapeutic molecules.

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

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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. 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.

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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Geographically, North America dominated the global market, among all the regions in 2014; and it is expected to grow with a CAGR of 35.2% during the period 2015 - 2020. However, the Asian market is expected to witness fastest growth, with a CAGR of 39.8% during the forecast period.

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