Synthetic biology is a new interdisciplinary field that includes the application of engineering principles to biology. It intends to design and manufacture biological components and systems that do not yet exist in nature.
New York, July 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Synthetic Biology Market - Global Outlook and Forecast 2022-2027" - https://www.reportlinker.com/p06310516/?utm_source=GNW
Synthetic biology combines the chemical synthesis of DNA with increased knowledge of genetics to enable researchers to quickly create cataloged DNA sequences and assemble them into new genomes. With the improved speed and cost of DNA synthesis, scientists can use advanced biofuels, bioproducts, renewable chemicals, bio-based specialty chemicals, pharmaceutical intermediates, fine chemicals, and food ingredients.
Industrial biotechnology provides tools to improve the natural mechanisms of biological processes for the efficient production of enzymes, chemicals, polymers, and even daily necessities such as foods and fuels. Scientists have studied the genomes of microorganisms to identify biological processes that can replace chemical reactions, create new products, make manufacturing processes cleaner, and reduce the number of manufacturing steps. Industrial biotechnology innovations are now successfully competing and replacing traditional petrochemical manufacturing processes. Companies using synthetic biology believe that they can reduce costs, reduce pollution and carbon dioxide emissions, and increase profitability.
The various approaches that synthetic biology encompasses, such as the design of gene and protein circuits from standard biological parts, the development of synthetic genetic codes, and the creation of artificial cells and organisms, will undoubtedly allow for the application of knowledge in different branches of science and technology. Redesigning the existing biological parts expands the set of functions for biological processes. Synthetic biology can allow new perspectives and the creation of new biological innovations. Development of technology platforms or creating new or upgraded physical structures can be used to implement new functions and reap benefits.
The following factors will drive the global synthetic biology market growth:
• Synthetic Biology Market Witnessing Significant Rise in Investments
• Increasing Strategic Collaborations & Acquisitions. Developing Multifunctional Products
• Synthetic Biology Bringing Transformative Technologies to Agriculture
Synthetic biology brings a paradigm shift in the field of biomedicine
Synthetic Biology offers modern approaches for engineering new biological systems or redesigning existing ones for practical purposes. CAR-T therapy has some crucial advantages that may not be available with other drugs used for cancer treatment.
The synthetic biology market is witnessing a significant rise in investments.
There is a massive inflow of investments for synthetic biology start-ups as they provide innovative market solutions. There are various pipeline products for the same. Some markets like Germany, China, and Italy are progressing toward a mature markets. In contrast, some regions like Africa do not have a significant number of companies or academic institutes for the same. In contrast, countries like India are in the nascent stages of synthetic biology. There are more opportunities in synthetic biology than challenges in the current scenario. Still, some ethical issues need to be addressed.
Synthetic biology products are transforming the world.
Synthetic biology has the potential to develop real-world applications. Synthetic biology can transform food, source materials, and medicines. Many biotechnologies, pharmaceutical, and agriculture companies best highlight applying synthetic biology tools developed from 2000–to 2021 and are available now or in the coming years. Over the next decade, more products will derive superior performance and affordability from engineering biology. The field is already impacting life sciences & pharmaceuticals, and industrial applications on a large scale.
North America: Factors driving the market’s growth in the region include a wide range of synthetic biology applications, the rising R&D funding and growing initiatives in synthetic biology, the declining costs of genome sequencing and synthesis, and the increasing investments in the market. The synthetic biology market is growing and rapidly accelerating into industrial, food & agriculture, and environmental areas. The region also has highly advanced genomic labs and genomic research centers involved in conducting large-scale research projects per the market demand. They are collaborating with pharma and biotech companies across the world. In North America, a larger population is involved in agriculture practice. More than 3.2 million hectares of land are used for organic farming alone. This region has one of the largest genetically modified (GM) crops approved, which can be grown to fulfill the demand in the market.
Europe: This region shows multiple research projects conducted in various European countries in Life Science segments. Europe stands second after the North American area in the genome sequencing field of cell and gene therapy. These fields demand extensive research and development infrastructure to handle complex analyses like sequencing millions of base pairs and analyzing complex data. The market players in this region are focusing on investment in R&D with notables competition among the prominent and emerging players.
APAC: The stringent regulatory requirements, and high cost of maintenance of the technology infrastructure, hamper the market’s growth in the APAC region. The government support in most Asian countries accelerates the development of biopharmaceuticals in the region. Moreover, biosimilars manufacturing is expanding in developing countries, owing to affordability in production as it requires low per capita spending. Vaccine manufacturing is one segment that has primarily adopted the usage of synthetic biology in them for net yield and to reduce the cost of manufacturing in the market. In addition to this, it was observed in the agri-food sector with five Asian countries in the top 10 investment markets for agri-food receiving a considerable amount compared to the US the global funding.
Latin America: Latin America is home to many developing and underdeveloped countries. The usage of advanced biotechnology-related products like synthetic biology in the industries is moderate, as there is a lack of stringent regulatory requirements in manufacturing the products. The Latin American countries still lack developed infrastructure in various life sciences segments. Latin America will be a significant food processing market with an increased number of research labs and processing industries working. Latin American countries are elaborating the policy framework for developing the economy, which is underway in several countries. They also focus on building sustainable environmental conditions using synthetic biology tools in the market. Latin America is a major exporter of food & agricultural commodities, accounting for more than 16% of the global food & agriculture exports and 4% of the total food & agriculture imports.
Middle East & Africa: The opportunity for synthetic biology products like GM crops that can grow in extreme conditions and yield better are some options that synthetic biology can provide to some African countries. African countries face malnutrition, diseases, hunger, and pollution challenges, which can only be solved using synthetic biology products. Positive factors towards the adoption of synthetic biology are various foundations coming up in the country, Synbio Africa, which are tasked to harmonize the efforts of scientists, students, researchers, farmers, and policymakers to impact communities in Africa positively. The scenario in the middle east countries is different. Various advancements related to environmentally friendly products reduce pollution, as many refineries exist in the country. Exploring new products for research are also being performed in the middle east countries.
Segmentation by Geography
• North America
o South Korea
• Latin America
• Middle East & Africa
o South Africa
o Saudi Arabia
Synthetic biology products are (re-)designed products of existing life forms or the creation of new life forms. Synthetic biology differs from traditional molecular and cellular biology because it focuses on developing and constructing tools that can be modeled, understood, and optimized to meet specific performance criteria. These smaller parts and devices are assembled into larger integrated systems to solve problems or yield better outcomes. The synthetic DNA market generated a significant chunk of revenue during the forecast period. Synthetic DNA is growing as an alternative to device-based technology in data storage, product labeling, and signal processing.
The enzymes market will grow at a CAGR of ~26% during the forecast period. Microbial-derived enzymes have great potential for waste management and, by extension, the development of an environment-friendly environment. Enzymes are effectively used in many industries for higher quality production with harmless environmental pollution and accelerated reaction rates with cost-efficiency.
The synthetic biology applications require continued development of enabling & enabled technologies to ensure these technologies remain accessible for research. The enabling technologies are emerging rapidly and being applied in various healthcare, industrial, food & agricultural, and large-scale environmental projects. The applications of enabling technologies in synthetic biology are widely accepted.
Synthetic biology offers a wide range of applications in biomedicine, therapeutics, diagnostics, and advanced therapies. The food & agriculture sector is also implementing genome-based research for new viable product development to overcome the modern solutions in modern days. By transforming biology by creating and developing bio-based therapies, chemicals, materials, fresh food, and energy sources, synthetic biology tools, technology, and engineering principles improve and protect the natural environment. General synthetic biology is applied in a wide range of fields, and it impacts the betterment of lives.
The end-users widely accept the use and research scope of synthetic biology. Academic/research institutes & laboratories are the first point of research studies on synthetic biology tools and techniques. The research provides a deep understanding of tools and technologies for the potential impact of synthetic biology products in a particular segment or sector. The emergence and advancements in synthetic biology have significantly impacted the healthcare industry. Pharma & biotech companies are the platform for research investments and commercializing products in the market. The major players in the market raise funds for research and collaborate/acquire other institutes.
Segmentation by Tools
• Oligonucleotides and Synthetic DNA
• Cloning Technology Kits
• Xeno-Nucleic Acids
• Chassis Organisms
Segmentation by Technology
• Enabling Technology
• Enabled Technology
Segmentation by Application
• Healthcare Application
• Industrial Application
• Food & Agriculture Applications
• Environmental Application
Segmentation by End-user
• Academic/Research Institutes & Laboratories
• Pharma & Biotech Companies
• Agilent Technologies
• Eurofins Scientific
• Thermo Fisher Scientific
Other Prominent Vendors
• Bio-Rad Laboratories
• Creative Biogene
• Creative Enzymes
• Cyrus Biotechnology
• Editas Medicine
• Ginkgo Bioworks
• Integrated DNA Technologies
• New England Biolabs
• OriGene Technologies
• Tessera Therapeutics
KEY QUESTIONS ANSWERED
1. WHAT IS THE MARKET VALUE OF THE GLOBAL SYNTHETIC BIOLOGY MARKET?
2. WHAT IS THE ESTIMATED GROWTH RATE OF THE GLOBAL SYNTHETIC BIOLOGY MARKET?
3. WHICH REGION HOLDS THE LARGEST SHARE IN THE GLOBAL SYNTHETIC BIOLOGY MARKET?
4. WHO ARE THE KEY PLAYERS IN THE GLOBAL SYNTHETIC BIOLOGY MARKET?
5. WHAT ARE THE GROWTH FACTORS DRIVING THE GLOBAL SYNTHETIC BIOLOGY MARKET?
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