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Global Synthetic Biology Market to Surpass US$ 100.4 Billion by 2030, Says Coherent Market Insights (CMI)

Coherent Market Insights
Coherent Market Insights

SEATTLE, May 19, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global synthetic biology market is estimated to be valued at US$ 13.9 billion in 2022 and is expected to exhibit a CAGR of 28.0% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Synthetic Biology Market:

Government initiatives and investment in synthetic biology to enhance the research & development are anticipated to drive the market growth. For instance, in November 2020, the Morrison Government invested US$ 8.3 million in a cutting-edge synthetic biology research facility to lead the development of new products.

Key Market Takeaways:

The global synthetic biology market is expected to exhibit a CAGR of 28.0% during the forecast period. Emerging diverse applications of synthetic biology in biomedicine, new materials & fabrics, agritech & food, etc. is anticipated to boost the market growth.

Synthetic Biology Market Report Coverage

Report Attributes

Details

Market Size in 2022

$13.9 Billion

Market Size Projection in 2030

$100.4 Billion

CAGR (2028-2030)

28.0%

Largest Market

North America

Growth Drivers

Technological advancement
Strategic investment by key players

Segmentation

By Product , By Technology, and By End-User

Regional Analysis

North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa)

Key Companies Covered

Thermo Fisher Scientific, Synbio Technologies, Merck KGaA, Agilent Technologies, Inc., GenScript, Amyris, Eurofins Genomics GmbH, Integrated DNA Technologies, Inc., Codexis, Inc., EnBiotix, Inc., Synthego, New England Biolabs (UK) Ltd., Scarab Genomics, LLC and Genomatica, Inc.

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Among product, the enzymes segment is expected to witness the largest market share in the global synthetic biology market over the forecast period. Enzyme engineering plays a central role in the development of effective biocatalysts for biological sciences and biomedicine. This is anticipated to drive the growth of market.

In terms of technology, the gene synthesis segment accounted for a major share of the market in 2020. Gene synthesis is emerging technology that enabled to develop innovations in synthetic biology. This is expected to drive the growth of segment

Among end user, the biotechnology & pharmaceutical industry segment is expected to hold a dominant position in the market during the forecast period. Increase in focus on developing cell based therapies by pharmaceutical key players is likely propel the segment growth.

Among region, North America is expected to dominate the global synthetic biology market over the forecast period. The early adoption of advanced technologies and presence of key market players are the factors anticipated to drive the market growth in the region.

Competitive Landscape:

Key players operating in the global synthetic biology market include Thermo Fisher Scientific, Synbio Technologies, Merck KGaA, Agilent Technologies, Inc., GenScript, Amyris, Eurofins Genomics GmbH, Integrated DNA Technologies, Inc., Codexis, Inc., EnBiotix, Inc., Synthego, New England Biolabs (UK) Ltd., Scarab Genomics, LLC, and Genomatica, Inc.

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Market Segmentation:

  • Global Synthetic Biology Market, By Product:

    • Oligonucleotides

    • Enzymes

    • Synthetic Cells

    • Others

  • Global Synthetic Biology Market, By Technology:

    • Gene Synthesis

    • Genome Engineering

    • DNA Sequencing

    • Others

  • Global Synthetic Biology Market, By End user:

    • Biotechnology & Pharmaceutical Industry

    • Academics & Research Institutes

    • Others

  • Global Synthetic Biology Market, By Region:

    • North America

      • By Country:

        • U.S.

        • Canada

    • Latin America

      • By Country:

        • Brazil

        • Mexico

        • Argentina

        • Rest of Latin America

    • Europe

      • By Country:

        • U.K.

        • Germany

        • Italy

        • Spain

        • France

        • Russia

        • Rest of Europe

    • Asia Pacific

      • By Country:

        • Australia

        • India

        • China

        • Japan

        • ASEAN

        • South Korea

        • Rest of Asia Pacific

    • Middle East

      • By Country:

        • GCC

        • Israel

        • Rest of Middle East

  • Africa

      • By Country/Region:

        • South Africa

        • Central Africa

        • North Africa

Related Market Intelligence Reports:

Oligonucleotide Synthesis Market, by Equipment & Services (Equipment/Synthesizer, Reagents, and Services (Oligo Synthesis, Modification, and Purification)), by Technology (Column-based, and Microarray-based), by Nucleic Acid (DNA and RNA), by Application (Drug Discovery and Therapeutics), by End User (Academic Research Institutes, Diagnostic Laboratories, and Pharmaceutical-Biotechnology Companies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Biologics Market, by Drug Class (Monoclonal Antibody, Vaccine, Recombinant Insulin, Human Growth Hormone, Blood Factor, Fusion Protein, Erythropoietin, Recombinant Enzyme, Interferon, Colony-stimulating Factor, Cell Therapy, Gene Therapy, Oligonucleotides and Others (Peptide, Botulinum Toxin, and Others)), by Therapeutic Application (Oncology, Metabolic Disorders, Autoimmune/Immunologic Diseases, Ophthalmic Diseases, Inflammatory Bowel Diseases (IBDs), Respiratory Disorders, Neurological Disorders, Musculoskeletal Disorders (MSDs), Cardiovascular Diseases (CVDs), Infectious Diseases, and Others), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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CONTACT: Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com