Synthetic Biology Market in 2024 Detailed Study Analysis

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Synthetic Biology Market"-, By Product (Oligonucleotide/Oligo Pools and Synthetic DNA, Enzymes, Cloning Technologies Kits, Xeno-Nucleic Acids, Chassis Organism), By Technology (NGS Technology, PCR Technology, Genome Editing Technology, Bioprocessing Technology), By Application (Healthcare, Clinical, Bio/Pharmaceuticals, Diagnostics, Non-Clinical, Non-healthcare, Biotech Crops, Specialty Chemicals, Bio-fuels), By End Use (Biotechnology and Pharmaceutical companies, Academic and Research Institutes), and Global Forecasts, 2024-2031 And Segment Revenue and Forecast To 2031."

The Synthetic Biology Market is estimated to reach over USD 56.9 billion by 2031, exhibiting a CAGR of 18.3% during the forecast period.

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Synthetic biology is a field of study focused on re-engineering organisms to serve practical purposes by unlocking new possibilities. The potential of nature is being used by researchers and important stakeholders to solve problems in manufacturing, agriculture, and medicine. A primary goal of synthetic biology is redesigning organisms to produce valuable products, such as fuel or medication, or to gain new capabilities, like sensing their environment. Examples include genetically modified rice that produces beta-carotene, yeast engineered to create rose oil, and microorganisms used for bioremediation. The market's growth has been fueled by the increasing use of synthetic biology in agriculture, enabling farmers to grow crops more efficiently on less land than traditional gene technologies allow. Additionally, synthetic biology's applications in healthcare are driving market expansion, facilitating better diagnosis and the development of safer, more effective treatments for a range of diseases.

NGS technology is instrumental in rapidly and affordably sequencing entire genomes, enabling researchers to analyze genetic information on an unprecedented scale. This capability is essential for validating genome editing, detecting off-target effects, and ensuring the accuracy of engineered genetic modifications, all of which are critical for synthetic biology applications in gene therapy, agriculture, and drug discovery. In agriculture, NGS is used to map crop genomes, identify desirable traits, and track genetic modifications, facilitating the development of crops with improved yields, pest resistance, and climate resilience, which are crucial for sustainable agriculture. Meanwhile, AI and machine learning are increasingly integrated with synthetic biology, where they assist in analyzing large datasets, predicting gene functions, and designing optimized genetic circuits. AI accelerates development by optimizing synthetic pathways, reducing experimental time, and predicting the behavior of engineered systems, helping companies streamline R&D, enhance precision in genetic engineering, and enable novel discoveries. Additionally, cell-free synthetic biology systems, which do not require living cells to produce proteins or perform enzymatic functions, are growing in popularity. These systems offer greater control and scalability, with applications in on-demand biomolecule production, biosensors, and synthetic enzyme production, making them ideal for rapid prototyping and valuable for diagnostics and industrial manufacturing.

List of Prominent Players in the Synthetic Biology Market:
• Bota Biosciences Inc.
• Codexis, Inc.
• Creative Biogene.
• Creative Enzymes.
• Enbiotix, Inc.
• Illumina, Inc.
• Merck Kgaa
• New England Biolabs
• Eurofins Scientific
• Novozymes
• Pareto Bio, Inc.
• Scarab Genomics, Llc
• Synthego
• Synthetic Genomics Inc.
• Thermo Fisher Scientific, Inc.
• Agilent Technologies, Inc.
• Twist Bioscience
• BioBricks Foundation
• DIYbio
• Amyris
• Cyrus Biotechnology
• TeselaGen

Market Dynamics:
Drivers:
Increasing awareness of environmental sustainability is driving demand for bio-based alternatives to fossil-fuel products. Synthetic biology enables the production of renewable bioplastics, biofuels, and biodegradable materials, addressing the need for eco-friendly products across industries. Synthetic biology is driving innovations in healthcare, from developing personalized medicine to advancing gene therapy and cell-based treatments. Engineered organisms are also enabling breakthroughs in diagnostics and vaccine development, fueling growth as healthcare applications expand. Government initiatives, venture capital, and private funding are increasing to support synthetic biology R&D. This financial backing accelerates research, commercialization, and market growth, enabling new entrants and established players to scale innovative solutions. Cell-free synthetic biology systems are gaining popularity due to their scalability and control in biomolecule production without the need for living cells. These systems, along with biosensors for diagnostics and environmental monitoring, offer a wide range of applications and drive the market forward.

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Challenges:
Designing and optimizing synthetic organisms is technically complex, requiring interdisciplinary expertise and substantial R&D resources. The costs associated with this complexity, including precision gene editing, metabolic engineering, and validation, can be prohibitively high for smaller companies or startups.

Regional Trends:
North America has the largest market share during the forecast period due to high funding from venture capital and government grants, leading biotech and pharmaceutical companies, and an active startup ecosystem. The presence of renowned research institutions and collaborations between academia and industry also drive innovation in synthetic biology. Synthetic biology is also increasingly adopted in biosecurity and biodefense applications in collaboration with government agencies. However, The Asia-Pacific region is experiencing rapid growth in synthetic biology, driven by increased government support, funding, and infrastructure development. Strong government initiatives to enhance biotech and agricultural technology, increasing private-sector investment, and partnerships between research institutions and industry. While regulations are still evolving, Asia-Pacific countries are keen on synthetic biology as a tool for economic growth and food security.

Recent Developments:
• In Aug 2024, Agilent Technologies Inc. declared a deal with Sangon Biotech, and a ceremony to introduce the "Digital Demonstration Laboratory" was held at Agilent Technologies Shanghai (ATS), with representatives from both companies from China in attendance. The partnership will increase Sangon's testing and analysis capabilities to better serve its clients by utilizing Agilent's extensive product line and full workflow solutions. With an emphasis on fostering advancement in the fields of synthetic biology and multi-omics, they will jointly aggressively investigate cutting-edge solutions in application areas that are critical to the biomedical and diagnostics industries.
• In Sept 2023, TeselaGen Biotechnology declared that it is signed a new multi-year contract with Joint BioEnergy Institute (JBEI) to continue their partnership through 2027. JBEI is one of four Bioenergy Research Centers (BRC) of the U.S. Department of Energy (DOE) that carry out cutting-edge research on biofuels and bioproducts, under the direction of Lawrence Berkeley National Laboratory.

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Segmentation of Synthetic Biology Market.
Global Synthetic Biology Market- By Product
• Oligonucleotide/Oligo Pools and Synthetic DNA
• Enzymes
• Cloning Technologies Kits
• Xeno-Nucleic Acids
• Chassis Organism
Global Synthetic Biology Market- By Technology
• NGS Technology
• PCR Technology
• Genome Editing Technology
• Bioprocessing Technology
• Other Technologies
Global Synthetic Biology Market - By Application
• Healthcare
• Clinical
• Bio/Pharmaceuticals
• Diagnostics
• Non-Clinical
• Non-healthcare
• Biotech Crops
• Specialty Chemicals
• Bio-fuels
• Others
Global Synthetic Biology Market - By End Use
• Biotechnology and Pharmaceutical companies
• Academic and Research Institutes
• Others
Global Synthetic Biology Market - By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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