Synthetic Biology Market Competitive Landscape, Key Drivers, Major Players, Outlook And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Synthetic Biology Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $45.83 billion In 2028 At A CAGR Of 21.5% :

The synthetic biology market size has grown exponentially in recent years. It will grow from $16.59 billion in 2023 to $21.02 billion in 2024 at a compound annual growth rate (CAGR) of 26.7%. The growth in the historic period can be attributed to increasing healthcare and life science facilities, increasing investment in drug, wide application in end-user industries, low cost of dna sequencing and synthesizing, and rise in funding.

The synthetic biology market size is expected to see exponential growth in the next few years. It will grow to $45.83 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. The growth in the forecast period can be attributed to increasing government initiatives, demand for fuel alternatives, increase in demand for genetically modified crops, and increasing investments in private companies. Major trends in the forecast period include strategic collaborations and partnerships, automation in nucleotide synthesis and sequencing, rising focus on gene editing, product innovation rising adoption of cell-free technology, new environmentally friendly process for biofuel production.

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Synthetic Biology Market Major Segments
The synthetic biology market covered in this report is segmented -

1) By Technology: Nucleotide Synthesis And Sequencing, Bioinformatics, Microfluidics, Genetic Engineering
3) By Product Type: Oligonucleotides, Enzymes, Cloning And Assembly Kits, Xeno-Nucleic Acids (XNA), Chassis Organism
2) By Application: Pharmaceuticals And Diagnostics, Chemicals, Biofuels, Bioplastics, Other Application

Key Driver - Dna Sequencing's Vital Role In Advancing Synthetic Biology And The Impact Of Cost Reductions

DNA sequencing is important in the development of the synthetic biology in many ways. DNA sequencing finds its use in many synthetic biology applications, therefore the availability of the DNA sequencing technique at low cost drives the production of products based on the applications of synthetic biology. DNA sequencing allows the researchers to determine the DNA sequences in genes and helps a researcher to create a repository of entire genomes. These repositories form the basis for the implementation of synthetic biology applications such as protein expression, directed evolution, and metabolic engineering. According to the Human Genome Research Institute, in 2021,, costs per genome sequenced have decreased from $3 billion to approximately $300 million over the past 17 years and are projected to be gradually lowered by 10 times over the next five years.

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Prominent Trend - Revolutionizing Data Storage: Dna Sequencing Breakthroughs Fuel Investments In Dna Data Storage

The new technological advances in the field of DNA sequencing has enabled the researchers to use DNA to store non-genetic information. With the rise in the demand to store quantum of data, DNA data storage offers a solution where one DNA strand can store about 455 Exabyte of data (455 billion gigabytes). Thus, the concept has received huge investments from the entities in the market. The binary data (data coded in 0O and 1) is converted into DNA strings of four potential base units of unique sequences of A, G, C, T (DNA is made up of four base components: Adenine, Guanine, Cytosine, and Thymine (known as AGCT)). The information coded in DNA lasts for thousands of years when compared to the data in traditional hard drives which gets corrupted or damaged within 30 years. For instance, according to a journal published by Nature Publishing Group, Microsoft and University of Washington researchers stored 35 distinct digital files in DNA-more than 200 megabytes of data and plans to increase future investment to improve the technology.

Synthetic Biology Market Players
Major companies operating in the synthetic biology market report are Thermo Fisher Scientific Inc, Danaher Corporation, Eurofins Scientific, Merck KGaA, Novozymes A/S, Agilent Technologies, New England Biolabs Inc, Precigen Inc, Amyris, Inc, Genscript Biotech Corporation, Codex Genetics, Cathay Biotech, Bota Biosciences, Bluepha, Spiber, OriCiro Genomics Inc, Provectus Algae, Puraffinity, Royal DSM NV, Colorifix, Phytoform Labs, Desktop Genetics, NanoSyrinx, Pulmobiotics S.L, EnginZyme, Chain Biotech, Nuclera Nucleics, Biosynthetics GmbH, Entelechon GmbH, Sloning BioTechnology GmbH, Prokarium Ltd, Synbio, Captor Therapeutics, Gero.ai, ARNA Genomics, Solvo Omixon, Soft flow, Algenol, Genomatica, Integrated DNA Technologies, Sana Biotechnology, Impossible Foods, Apeel Sciences, Twist Bioscience, Synlogic, Zymergen Inc, Ginkgo Bioworks, Codexis, Arzeda Corporation, Synthetic Genomics, Conagen, Dupont, Oxitec Ltd, Sentebiolab, GEEN Biotechnology Inc, Genbiotek Biosistem Laboratory Ltd

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Largest And Fastest Growing Region In The Market
North America was the largest region in the synthetic biology market in 2023. Western Europe was the second largest region in the global synthetic biology market share. The regions covered in the synthetic biology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Synthetic Biology Market Report Structure
3. Synthetic Biology Market Trends And Strategies
4. Synthetic Biology Market - Macro Economic Scenario
5. Synthetic Biology Market Size And Growth
…..
27. Synthetic Biology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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