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Synthetic Biology Market: Current Trends and Future Opportunities Leading Key Players are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc (US), Novozymes A/S (Denmark), Ginkgo Bioworks (US), Amyris (US)

02-03-2023 03:58 PM CET | Health & Medicine

Press release from: MarketsandMakets

Synthetic Biology: An Analysis of the Global Market - Exclusive Report by MarketsandMarkets™

Synthetic Biology: An Analysis of the Global Market - Exclusive Report by MarketsandMarkets™

According to the new market research report "Synthetic Biology Market by Tools (Oligonucleotides, Enzymes, Synthetic Cells), Technology (Gene Synthesis, Genome Engineering), Application(Tissue Regeneration, Biofuel, Consumer Care, Food & Agriculture, Environmental) and Region - Global Forecast to 2026.

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Synthetic biology is one of the most promising fields in the biotechnology industry. It involves the use of engineering principles to design, construct, and modify biological systems for various applications. As a result, the global synthetic biology market is projected to reach USD 30.7 billion by 2026 from USD 9.5 billion in 2021, at a CAGR of 26.5% during the forecast period.

Market Synopsis:

The increasing investments from governments and private investors, combined with the growing demand for synthetic biology-based products, are the major factors driving the growth of this market. Additionally, the increasing demand for cost-effective and eco-friendly products is driving the demand for synthetic biology in the market.

Moreover, the advancements in the field of DNA sequencing technology, gene editing tools, and the emergence of new bioinformatics tools are expected to boost the growth of the market.

On the flip side, the lack of skilled personnel and the ethical issues related to the use of synthetic biology are some of the factors that can restrain the growth of the market. Additionally, the high cost of synthetic biology products is also expected to limit market growth, as these products are generally more expensive than their natural counterparts.

This growth is largely due to the increasing number of applications for synthetic biology, ranging from drug discovery and development to agricultural biotechnology. Synthetic biology can be used to create new medicines, crops, and enzymes that are more efficient and effective than their traditional counterparts. In addition, synthetic biology can be used to create biofuels and even new materials.

Key Market Players:

Some of the prominent players in the Synthetic Biology Industry are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc (US), Novozymes A/S (Denmark), Ginkgo Bioworks (US), Amyris (US), Precigen, Inc. (US), GenScript (China), Twist Bioscience (US), Synthetic Genomics (US), Codexis (US), Synthego (US), Creative Enzymes (US), and Eurofins Scientific (Luxembourg).

The synthetic biology market is driven by the increasing demand for more efficient and cost-effective solutions to a variety of challenges. For example, synthetic biology can help reduce the cost of drug development, improve crop yields, and produce new materials for a variety of industries. In addition, the demand for synthetic biology is being fueled by the need for more sustainable and efficient ways to produce food and other products.

The synthetic biology market is also expected to benefit from advances in genomics and other areas of biotechnology. As the technology advances, it will become easier for researchers to manipulate and engineer biological systems to create more efficient and effective solutions. This will open up new opportunities for synthetic biology to be used in a variety of industries.

Overall, the synthetic biology market is expected to continue growing, as it offers numerous benefits to many different industries. As the technology advances, the market will continue to expand and offer new and innovative solutions to a variety of challenges.

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This report categorizes the synthetic biology market into the following segments and subsegments:

By Tool
• Oligonucleotides and Synthetic DNA
• Enzymes
• Cloning Technologies Kits
• Synthetic Cells
• Chassis Organisms
• Xeno-nucleic Acids

By Technology
• Gene Synthesis
• Genome Engineering
• Sequencing
• Bioinformatics
• Site-directed Mutagenesis
• Cloning
• Measurement and Modelling
• Microfluidics
• Nanotechnology

By Application
• Medical Application
• Artificial Tissue and Tissue Regeneration
• Industrial Applications
• Food & Agriculture
• Environmental Applications

Recent Developments:

• Novozymes launched Frontia GlutenEx. It would help wheat processors increase their gluten protein recovery and, at the same time, cut down on energy consumption.

• Merck partnered with BioNTech (Germany) to supply lipids for the production of Pfizer-BioNTech COVID-19 Vaccine (BNT162b2).

• Merck acquired AmpTec (Germany). With this acquisition, the company strengthened its product portfolio to develop and manufacture mRNA for utilizing vaccines, treatments, and diagnostics.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA: +1-888-600-6441

About MarketsandMarkets™
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