Gene Synthesis Market 2022: expected to grow at a CAGR of 28.7% to 2025

According to our new research study on "Gene synthesis in Healthcare Market Forecast to 2025 - COVID-19 Impact and Global Analysis - by Product and Services, Application, and End User," the market is expected to reach US$ 107,797.82 million by 2025 from US$ 3,991.23 million in 2017; it is estimated to grow at a CAGR of 28.7% from 2017 to 2025.

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The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the Gene synthesis in healthcare market is attributed to the increase in investments & funds for gene synthesis, rising numbers of start-up companies and technological advancements are key drivers for the growth of the market. However, factors such as lack of skilled professionals and long approval processes are likely to restrain the market growth to a certain extent.

The services segment held the major market share among the products & services segments. In 2017, the services segment held a largest market share of 51.1% of the gene synthesis market, by products & services. This segment is also expected to dominate the market in 2025 owing to analysis and data management solutions, service partnerships and financial solutions. Furthermore, the services segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.

The Gene synthesis in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement.

Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

Eurofins Scientific, Thermo Fisher Scientific Inc., GenScript. Other market players include BIONEER CORPORATION., Integrated DNA Technologies, Inc., ATUM, Twist Bioscience, BioCat GmbH, OriGene Technologies, Inc. and GENEWIZ. are among the leading companies operating in the Gene synthesis in healthcare market.

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Impacts of Covid-19 on Gene Synthesis Market:

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Floor Wax Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of COVID -19 Situation.

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This release was published on openPR.