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Synthetic Biology Market Valuation Is Predictable to Reach US$ 162.9 Billion by The End of 2032
Synthetic Biology
The global market is currently valued at US$ 9.8 billion, and Persistence Market Research's recently published Synthetic Biology Market study report predicts that by the end of 2022, it will be worth US$ 12.5 billion.
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Leading Players are:
• Bota Biosciences
• Codexis, Inc.
• Creative Biogene
• Creative Enzymes
• EnBiotix, Inc.
• Eurofins Scientific
• Illumina
• Merck
• New England Biolabs
• Novozymes
• Pareto Biotechnologies, Inc.
• Scarab Genomics
One of the key drivers of growth in the synthetic biology market is the increasing demand for sustainable solutions across various industries, including healthcare, agriculture, and energy. Synthetic biology offers a range of solutions to address sustainability challenges, such as reducing greenhouse gas emissions, developing more efficient crop production, and producing bio-based materials and chemicals. This has led to a growing interest in the development of synthetic biology-based products and services.
Another factor driving the growth of the synthetic biology market is the advancement of gene editing technologies, such as CRISPR-Cas9. These technologies have revolutionized the field of synthetic biology by enabling precise and efficient genetic modifications, and have significantly reduced the time and cost required for engineering biological systems. This has led to the development of a range of new products and services, including gene therapies, biomaterials, and precision agriculture.
The synthetic biology market is also being driven by increasing investment from governments and private organizations. Governments are investing in synthetic biology research and development to promote innovation, drive economic growth, and address major societal challenges, such as climate change and public health. Private organizations are also investing in synthetic biology to develop new products and services that can improve their competitiveness and meet the evolving needs of consumers.
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Market Segments Covered in Synthetic Biology Market Analysis
• By Application
Healthcare
Clinical
Non-Clinical Research
Non-Healthcare
Biotech Crops
Speciality Chemicals
Bio-Fuels
• By Product Type
Oligonucleotide/Oligo pools and Synthetic DNA
Enzymes
Cloning Technologies Kits
Xeno-nucleic Acids
Chassis Organism
• By Technology
NGS
PCR
Genome Editing
Bioprocessing Technology
Other Technologies
• By End-use
Biotechnology & Pharmaceutical Companies
Academic & Government Research Institutes
Other End-uses
• By Region type
North America
Latin America
Europe
APAC
MEA
In conclusion, the synthetic biology market is a rapidly growing industry that offers a range of solutions to address sustainability challenges and meet the evolving needs of consumers. The market is being driven by technological advancements, rising demand for sustainable solutions, and increasing investment from governments and private organizations. However, the market also faces several challenges, including ethical and safety concerns, and the complexity and unpredictability of biological systems.
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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