Synthetic Biology Market - Global Industry Analysis 2024

Synthetic biology is a combination of biology and biomedical engineering principles that favors designing and construction of novel biological parts & systems and also the reconstruction of preexisting designs according to specific application requirements. Synthetic biology is extensively used in the field of medical and pharmaceuticals to produce and manufacture improved biological drugs and systems to meet various challenges in the healthcare sector. Synthetic biology offers various opportunities in the field of healthcare such as recreating highly complex pathways, DNA sequences, and natural biological systems. In synthetic biology market, genetically modified organisms is the new approach for researchers. However, currently only one engineered gene has been developed, with increasing focus on creating clusters of genes. Also, due to the rising demand for vaccines in high income countries, synthetic biologists are more inclined towards research of various types of vaccines that can be used as prophylaxis. According to WHO, in in 2011, high income countries such as the U.S., Japan, and the U.K. contributed around 80% of global vaccine sales revenue, with these regions accounting for 20% volume share.

Get PDF Research Brochure for more Professional and Technical Insights: https://www.coherentmarketinsights.com/insight/request-sample/112

Synthetic biology market taxonomy:

By Product Type
-Synthetic DNA
-Synthetic cells
-Synthetic genes
-Chassis organisms
-Genetically modified organisms
-Oligonucleotide Synthesis

By Tool
-Xeno-nucleic Acids (XNA)
-Cloning and Assembly kits
-Oligonucleotides
-Enzymes

By Technology
-Enabling Technologies
-Bioinformatics
-Site-saturation Mutagenesis
-Measurement and Modeling
-Microfluidics
-Cloning and Sequencing
-Gene Synthesis
-Genome Engineering
-Nanotechnology
-Enabled Technologies
-Pathway Engineering
-Next-generation Sequencing

Request for an in-depth table of contents for this report @ https://www.coherentmarketinsights.com/ongoing-insight/toc/112

By Application
-Environmental Application
-Bioremediation
-Whole-cell Biosensors
-Industrial Application
-Biofuels and Renewable Energy
-Industrial Enzymes
-Biomaterials and Green Chemicals
-Medical Application
-Artificial Tissue and Tissue Regeneration
-Pharmaceuticals
-Drug Discovery and Therapeutics

Government funding supporting synthetic biology market growth:

Growing demand for synthetic biology products such as synthetic DNA, synthetic genes for treatment of diseases and for developing genetic modified products such as hybrid crop, genetically modified animals for enhancing the nutritional value of the food is also contributing towards the growth of the synthetic biology market. Also, various governments are investing in research and development of novel synthetic biology products. For instance, according to the report from U.S. Trends in Synthetic Biology Research at the Wilson Center, during the period of six years from 2008 to 2014, the U.S. invested around US$ 820 million in research for products in synthetic biology. Among different funding agencies, the defense department became a key funder of synthetic biology research dominating the funds by national science foundation. The above key fact also suggests that U.S. is expected to be a significant contributor in synthetic biology market.

Browse Global Strategic Business Report : https://www.coherentmarketinsights.com/ongoing-insight/synthetic-biology-market-112

Regional analysis of synthetic biology market:

Developed countries such as the U.S., Germany, U.K., France, and Japan have mature markets for synthetic biology mainly due to large funding and favorable government regulation regarding the approval of synthetic biology products. According to genetic engineering & biotechnology news in 2010, the government of three European countries namely the Netherlands, U.K., and Germany invested around US$ 160 million in a span of five years between 2005 and 2010. Regulations such as Toxic Substances Control Act (TSCA) in 1997, cover commercial uses of new microorganisms not regulated by other agencies: primary rules covering industrial biotechnology. European Commission and research agencies have also increased their funding for research in synthetic biology. In emerging economies in Asia-Pacific, Middle East, and Africa, governments are focusing on tackling major issues such as under-nutrition by encouraging adoption of GMO crops. For example, Indian government is had put efforts in the past regarding in terms of intervention programs to combat malnutrition such as Integrated child development services and mid-day meal program This creates a highly conducive environment for market growth.

Major acquisitions to support the growth in synthetic biology market

There are few recent acquisitions by the big brands in biotechnology that is expected to favor the market for synthetic biology. QIAGEN N.V acquired OmicSoft—a software solutions company that offers scientists and researchers tools to efficiently analyze and visualize the data in bioinformatics. This acquisition is further expected to favor the working efficiency of the company. Key players operating in the synthetic biology market include DuPont, Amyris, Inc., GenScript USA Inc., Integrated DNA Technologies, Intrexon Corporation, New England Biolabs, Inc., Thermo Fisher Scientific, Inc., Synthetic Genomics, Inc., Royal DSM, and Novozymes.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Visit Coherent Market Insights Blog @ https://blog.coherentmarketinsights.com/
Connect with us on LinkedIn @ https://www.linkedin.com/company/coherent-market-insights

This release was published on openPR.