DNA Synthesis Market Increasing Demand for Synthetic Genes and DNA Sequences

As demonstrated by Precision Business Insights (PBI), the latest report, the global DNA synthesis market was valued at USD 3,702.0 million in 2023 and is expected to reach USD 10,289.5 million by 2029, growing at a CAGR of 18.6% during the forecast period 2024-2030. The key drivers for the growth of the global DNA synthesis market include increasing demand for synthetic genes and DNA sequences, growing applications in the agriculture and food industry, and technological advancements.

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THE DNA SYNTHESIS MARKET DETAILED SEGMENTATION:
Based on the method the market is segmented into the following
• Oligonucleotide Synthesis
• Gene Assembly

0Based on the end-use the market is segmented into the following
• Academic Research Institutes
• Biopharmaceutical Companies
• Contract Research Organization

Based on the method, the DNA synthesis market is segmented into oligonucleotide synthesis and gene assembly. Among these gene assembly is anticipated to account for a larger revenue share in the global RNA synthesis market. In 2023, gene assembly the segment accounted for significant revenue share and is projected to grow at 18.9% CAGR over 2024-2030 due to rising demand increasing demand for synthetic genes and DNA sequences, growing applications in the agriculture and food industry, technological advancements, and increasing accessibility. Synthetic genes are used in a wide variety of applications, including research, drug discovery, and gene therapy. The demand for these genes is expected to continue to grow as the field of synthetic biology matures. DNA synthesis is being used to develop new crops with improved yields, resistance to pests and diseases, and enhanced nutritional value. This is making it more feasible to use DNA synthesis in a wider range of applications. Here are some of the gene assembly technologies that are being used in DNA synthesis, restriction enzyme & ligation, Gibson assembly & golden gate assembly these technologies are all helping to drive the growth of the DNA synthesis market by making it faster, cheaper, and easier to synthesize DNA.

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Based on the region, the market is segmented into the following
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

North America region currently holds the largest market share & market size of 1,346.1 million USD in 2023, and a growing CAGR of 18.7%., due to robust research infrastructure, prominent market players, focus on drug discovery and personalized medicine, and government funding. Research and development (R&D) is the backbone of DNA synthesis. North America boasts a well-established network of research institutions, universities, and pharmaceutical companies. These entities heavily invest in cutting-edge technologies and employ highly skilled personnel, creating a fertile ground for advancements in DNA synthesis. North America is home to a significant number of leading DNA synthesis companies. These players constantly innovate and develop new techniques, pushing the boundaries of what's possible. This intense competition fosters a dynamic environment that benefits the entire market. The demand for DNA synthesis is driven by its applications in various fields, with drug discovery and personalized medicine being at the forefront.

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North America is a major hub for pharmaceutical research, and the growing interest in personalized medicine, which tailors treatments to individual genetic profiles, further fuels the need for DNA synthesis technologies. Many governments in North America actively support research initiatives in life sciences. This financial backing fosters innovation and facilitates the development of novel DNA synthesis techniques. Looking at the numbers, North America's dominance becomes even clearer. In 2022, it captured over 36.5% of the global DNA synthesis market share. This translates to a market size exceeding USD 10,289.5 million, and it's projected to grow at a healthy Compound Annual Growth Rate (CAGR) of nearly 18.80 % by 2029. However, it's important to acknowledge that other regions are catching up.

The Asia Pacific market, for instance, is expected to witness the fastest growth rate due to factors like rising healthcare expenditure and increased government investments in biotechnology. Despite this potential challenge, North America's strong foundation is likely to maintain its leadership position. Here's what we can expect in the coming years, continued advancements, focus on automation, and emerging applications. In conclusion, North America's dominance in the DNA synthesis market is undeniable. With its robust research infrastructure, prominent market players, and a thriving research ecosystem, the region is well-positioned to maintain its leadership role as DNA synthesis technology continues to evolve and revolutionize various fields.

Strategic Expansion, Mergers, Collaborations, and Agreements are the key Strategies Adopted by Market Players:
The market players in the DNA synthesis market adopt a combination of these strategies to stay competitive, drive growth, and capitalize on opportunities in the dynamic pharmaceutical & life science landscape. Companies invest in expanding their capabilities to meet the growing demand for new applications. This includes entering new areas of manufacturing, leveraging existing expertise and infrastructure for diversification.

Key players are Thermo Fisher Scientific, Inc., Twist Bioscience, Bioneer Corporation, Codex DNA, LGC Biosearch Technologies, IBA GmbH, Eurofins Scientific, Integrated DNA Technologies, Inc., Quintara Biosciences, GenScript Biotech Corporation, Ajinomoto Bio-Pharma Services, ATUM, DNA Script, Eurofins Genomics, and Gene Universal

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This release was published on openPR.