DNA Synthesis Market: A Lucrative Opportunity for Stakeholders with a Projected Value of US$2,898.3 Million in 2023

Anticipated to reach a value of $2,898.3 million in 2023, the DNA Synthesis Market is poised for a remarkable ascent, projecting a substantial surge to $9,999.6 million by 2033. Foreseen to exhibit an impressive compound annual growth rate (CAGR) of 13.2%, DNA synthesis sales are set to chart an extraordinary trajectory over the forecast period.

The natural creation of nucleic acid strands through DNA replication is referred to as DNA synthesis. They are synthesized artificially using genetic engineering and enzyme chemistry in a laboratory environment. The synthesized version is then used for various purposes and applications like therapeutic, diagnostics, and academic and industrial research. With a surge in the popularity of DNA synthesis, these applications have also increased in the past few years.

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The growing adoption of gene therapy has contributed to the rise in the need for rapid gene synthesis products. These products provide accurate gene sequences in a short period of time. It enhances the body's ability to fight against infection and diseases. The utilization of DNA synthesis is increasingly becoming important so as to avoid any alteration to DNA which may result in oncological diseases. In addition to this, the demand for DNA synthesis is also escalating due to its ability to repair the disease of premature ageing.

The synthetic biology segment is a primary growth driver of the DNA synthesis market and accounts for a major share. Again, growing research and development associated with gene synthesis along with constant advancements made in the technological processes such as molecular separation and protein purification technology which assist in developing reliable, fast, and cost-effective solutions also contribute to the target market growth over the projected period.

"Rising application of DNA synthesis in areas like therapeutic, diagnostics, and academic and industrial research will drive the market growth of the same over the forecast period," says an FMI analyst.  

Key Takeaways:

-Advancements in technological processes will strengthen the future possibilities of the DNA synthesis market.
-Extended wait for approvals of gene synthesizers and products may stunt the market growth.
-North America accounts for 30.2% of the global market share.
-The DNA synthesis market in Europe will likely hold 27.9% of the overall market share.

Competitive Landscape 

Brooks Automation, Inc. (GENEWIZ), Boster Biological Technology, ProteoGenix, Biomatik, ProMab Biotechnologies, Inc, Thermo Fisher Scientific, Inc, Integrated DNA Technologies, Inc., and OriGene Technologies, Inc., among others, are some of the major players in the DNA synthesis market profiled in the full version of the report.

Leading market players are focusing on utilizing innovative marketing plans to achieve the highest profits. These enterprises are also keen on mergers, partnerships, and collaboration to strengthen their market presence.

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Key Segments

By Service Type:

-Oligonucleotide DNA Synthesis
-Universal Oligonucleotide DNA Synthesis
-Custom Oligonucleotide DNA Synthesis
-Gene DNA Synthesis
-Custom Gene DNA Synthesis
-Gene Library DNA Synthesis

By Application:

-DNA Synthesis for Research and Development
-DNA Synthesis for Academic Applications
-DNA Synthesis for Industrial Applications
-DNA Synthesis for Diagnosis
-DNA Synthesis for Therapeutics

By End User:

-DNA Synthesis for Biopharmaceutical Companies
-DNA Synthesis for Academic and Research Institutes
-DNA Synthesis for Contract Research Organizations

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.