Gene Synthesis Market Size to Cross USD 14.2 Bn by 2033 with CAGR of 23.6% | Transparency Market Research
The global gene synthesis industry growth is driven by the need for precise, early, and fast treatment of cells that cause chronic and infectious diseases using genomic, transcriptome, or other multi-omics.
Wilmington, Delaware, United States, March 21, 2023 (GLOBE NEWSWIRE) -- According to Transparency Market Research, The global gene synthesis market stood at US$ 1.6 Billion in 2023 and the industry is expected to reach US$ 14.2 Billion by 2033. The global industry is projected to grow at a CAGR of 23.6% between 2023 and 2033.
As concerns about chronic and infectious diseases grow, along with the introduction of new treatments and medicines, the demand for gene synthesis therapies and new medicines is driving the market.
Targeted therapy is a relatively new concept that is gaining a lot of attention within the biotechnology and pharmaceutical industries. Significant growth in targeted therapies combined with chemotherapy and immunotherapy is expected to occur in the next few years.
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Gene Synthesis Market Snapshot:
Market Revenue | USD 1.6 Billion in 2023 | |
Estimated Value | USD 14.2 Billion by 2033 | |
Growth Rate - CAGR | 23.6% |
|
Forecast Period | 2023–2033 | |
No. of Pages | 250 Pages | |
Market Segmentation | By Method, Service Type, Application, End-User | |
Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
Format | Electronic (PDF) + Excel | |
With the development of gene editing technologies like CRISPR-Cas9, it has become easier to manipulate DNA sequences with precision, which has led to the creation of high-quality synthetic DNA. With the development of affordable DNA sequencing technologies, it has become easier to design and verify synthetic DNA sequences.
A new era of drug discovery, biofuel development, and other products has emerged in synthetic biology with the development of new biological systems and their design of them. Increasing demand for custom DNA sequences from biotechnology, pharmaceutical, and academic research laboratories is expected to drive the gene synthesis market in the coming years. Increasing access to gene synthesis services, along with improving accuracy and affordability, are expected to drive further market growth.
The development of new energy sources, new materials, artificial organisms, DNA vaccines, and biomedicine are driving the growth of gene synthesis. A growing number of millennials in Europe and North America are interested in this cold storage business, resulting in rapid global expansion for the market. Advanced refrigerators are being introduced in these regions to give users a more real-time temperature control experience.
Synthetic biology, owing to its immense potential, is likely to become one of the most important technologies of the future. The advent of automation and artificial intelligence has made DNA sequencing and synthesis more convenient, allowing this process to become less expensive and more feasible. A rapid and cost-effective improvement in DNA synthesis has enabled scientists to develop new biofuels, bioproducts, green chemicals, specialized chemicals, and food ingredients derived from modified bacteria.
Key Findings from the Market Report
Antibody DNA synthesis to be the primary service type, expanding at a 23.7% CAGR until 2033
Additionally, gene synthesis can be used to develop novel therapeutics such as gene and cell therapies, which are becoming increasingly popular beyond traditional applications.
With the advancement in gene synthesis technologies, the market for gene synthesis is gaining traction due to the faster production of custom DNA sequences.
As personalized medicine becomes a growing trend in the marketplace, the gene synthesis industry is evolving to meet the needs of end users.
Global Gene Synthesis Products Market: Growth Drivers
Gene synthesis, due to the growing production of DNA sequences and the development of protein-functional markets, is expected to grow consistently between 2023 and 2033.
In addition to encouraging researchers to explore genetic engineering and develop groundbreaking technologies, organizations, facilitate the growth of this industry.
Increased government funding for gene development paired with increased reimbursement policies help to accelerate the market.
A new generation of scientists and engineers synthesizing and utilizing genes for future development, including long-term therapies such as targeted therapy and immunotherapy, as chronic diseases continue to increase among the general population.
A rise in oncological conditions and a desire for new innovative treatments will drive the market for gene synthesis.
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Global Gene Synthesis Market: Regional Landscape
North America to lead the market for gene synthesis, backed by growing demand for evaluating gene synthesis processes and rapid research and development in genetic engineering, medicine, and biotechnology
China to be a promising landscape for gene synthesis, having documented a value CAGR worth over 25% from 2018-2022
The market in China is expected to yield absolute dollar growth worth US$ 1.5 billion from 2023 to 2033
Global Gene Synthesis Market: Key Players
GeneScript
Brooks Automation, Inc.
Booster Biological Technology
Twist Bioscience
ProteoGenix, Inc.
Biomatik
ProMab Biotechnologies, Inc.
Thermo Fisher Scientific, Inc.
Integrated DNA Technologies, Inc.
OriGene Technologies, Inc.
Key Points from TOC:
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Gene Synthesis Market, by Key Countries
4.2. Gene Synthesis Market Opportunity Assessment (US$ Mn)
4.3. Market Scenario Forecast
4.4. Investment Feasibility Analysis
4.5. Forecast Factors - Relevance & Impact
4.6. Market Dynamics
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
……………………………………….
20. Competition Analysis
20.1. Competition Dashboard
20.2. Competition Benchmarking
20.3. Competition Deep Dive
21. Assumptions and Acronyms Used
22. Research Methodology
TOC Continued……………….
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Global Gene Synthesis Market: Segmentation
Method
Solid-phase Synthesis
Chip-based Synthesis
PCR-based Enzyme Synthesis
Service Type
Antibody DNA Synthesis
Viral DNA Synthesis
Other Service Types
Application
Gene & Cell Therapy Development
Vaccine Development
Disease Diagnosis
Others
End-user
Biotechnology & Pharmaceutical Companies
Academic & Government Research Institutes
Contract Research Organizations
Regions
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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