Synthetic Biology Market to Surge USD 48.81 Billion, with Excellent CAGR of 22.70% by 2029
Global Synthetic Biology Market research report is a comprehensive synopsis on the study of Healthcare industry and its influence on the market environment. Some of the competitor strategies can be mentioned here as new product launches, expansions, agreements, partnerships, joint ventures, and acquisitions. This market report is a clear-cut solution which can be adopted by businesses to thrive in this swiftly changing marketplace. Not to mention all the topics included have been watchfully analysed with the best tools and techniques. Utilization of well established tools and techniques in the comprehensive Global Synthetic Biology Market report helps to turn complex market insights into simpler version.
Data Bridge Market Research analyses that the synthetic biology market which was USD 9.5 billion in 2021, would rocket up to USD 48.81 billion by 2029, and is expected to undergo a CAGR of 22.70% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Synthetic biology is an environmentally benign technology that has gained appeal for hazardous clean-up projects including synthetic microbes to digest refractory substances such as dioxins, insecticides, and even radioactive materials. Synthetic biology aids in the stabilisation of price growth in the medical industry, which drives up demand for this market. DNA synthesis technology and clustered regularly interspaced short palindromic repeats approaches have helped to lower the incidence of chronic diseases like cancer and diabetes. Biomedical, pharmaceutical, agricultural, biofuel, and chemical industries are all key users of this technology. Farmers can grow more crops on less area with synthetic biology, and it delivers more accuracy and perfection than prior gene technologies.
Market Definition
Synthetic biology combines engineering and science to create unique biological systems with practical applications. Synthetic biology is the process of creating new biological units such as cells, enzymes, and genetic circuits and modifying existing biological systems. Synthetic biology’s primary goal is to create new biological components that do not exist in nature, such as advanced biofuels, renewable chemicals, and bio goods. Synthetic biology discovers standardised genomic units that can be utilised to quickly synthesize and assemble small genomic parts into integrated large systems to tackle specific biological difficulties for the development of biological systems.
Drivers
- Increase in synthetic drugs and vaccines
The market is predicted to expand as demand for protein therapies and personalised medicine grows and research into synthetic pharmaceuticals and vaccines. Other factors such as increased synthetic biology application, increased synthetic biology investment, lower DNA sequencing and synthesising costs, and increased R&D expenditure and activities are likely to accelerate synthetic biology market expansion during the forecast period of 2022 to 2029.
- Increased research and development funding
R&D spending in the life sciences industry climbed by 22% from 2018 to 2019, according to a Business Wire report published in September 2020. Pharmaceutical companies have received more funds for research and development in order to discover new therapies. The government has made steps to fund various pharmaceutical and biotech enterprises in order to advance pharmaceutically and boost international competitiveness. As a result, R&D spending and funding have steadily rised throughout the years. Pharmaceutical and biotechnology businesses devote significant resources to research in order to create game-changing compounds that will meet the expanding demands of the healthcare industry and tackle emerging ailments. Pharmaceutical research and development accounts for more than 80% of all R&D spending in the life sciences industry.
- Improving diagnosis and better treatment
Synthetic biology is used in the healthcare industry because it can help improve diagnostics and offer better treatment options for a variety of diseases by targeting only the disease site and creating no side effects. In addition, the use of genetically designed viruses to fix damaged genes in patients with inherited disorders such as epidermolysis bullosa or severe combined immune deficiency (SCID) has increased significantly. Aside from that, technologies for executing synthetic biology are becoming more accessible, and internet usage has facilitated free interchange of ideas and information, encouraging market expansion. Furthermore, the market is being influenced positively by significant expansion in the healthcare sector and an increase in the number of synthetic biology research units around the world.
Recent Development
- In January 2021, Frontia GlutenEx was developed by Novozymes. It would assist wheat processors in improving gluten protein recovery while reducing energy use.
- In February 2021, Merck collaborated with BioNTech (Germany) to provide lipids for the Pfizer-BioNTech COVID-19 vaccine (BNT162b2).
- In January 2021, Merck bought AmpTec (Germany). The company expanded its product portfolio by developing and manufacturing mRNA for use in vaccinations, therapies, and diagnostics as a result of this purchase.
Some of the major players operating in the synthetic biology market are:
- Thermo Fisher Scientific Inc. (U.S)
- Merck KGaA (Germany)
- Agilent Technologies, Inc. (U.S)
- Novozymes (Denmark)
- Ginkgo Bioworks (U.S)
- Amyris (U.S)
- Precigen Inc. (U.S)
- GenScript (China)
- Twist Bioscience (U.S)
- Synthetic Genomics (U.S)
- Codexis Inc. (U.S)
- Synthego (U.S)
- Creative Enzymes (U.S)
- Eurofins Scientific (Luxembourg)
- Cyrus Biotechnology Inc. (U.S)
- ATUM (U.S)
- TeselaGen (U.S)
- Arzeda (U.S)
- Integrated DNA Technologies Inc. (U.S)
- New England Biolabs (U.S)
To Gain More Insights into the Market Analysis, Browse the Summary of the Research Report@ https://www.databridgemarketresearch.com/reports/global-synthetic-biology-market?Shri
Synthetic Biology Market Scope
The synthetic biology market is segmented on the basis of tool, technology and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Tool
- Oligonucleotides and Synthetic DNA
- Enzymes
- Cloning Technologies Kits
- Synthetic Cells
- Chassis Organisms
- Xeno-nucleic Acids
Technology
- Gene Synthesis
- Genome Engineering
- Sequencing
- Bioinformatics
- Site-directed Mutagenesis
- Cloning
- Measurement and Modeling
- Microfluidics
- Nanotechnology
Application
- Medical Application
- Pharmaceuticals
- Drug Discovery and Therapeutics
- Cancer Detection and Diagnostics
- Other Drug Discovery and Therapeutic Applications
- Artificial Tissue and Tissue Regeneration
- Bio-synthesis
- Stem Cell Regulation
- Other Tissue and Tissue Regeneration Applications
- Industrial Applications
- Biofuel and Renewable Energy
- Biomaterials and Green Chemicals
- Industrial Enzymes, by Application
- Textile Industry
- Paper Industry
- Consumer Care Industry
- Skin Care and Cosmetics
- Other Consumer Care Products
- Other Industries
- Food and Agriculture
- Environmental Applications
- Bioremediation
- Biosensing
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Fundamental Aim of this Market Report
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
Key highlights of this Market report:
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
Browse the complete table of contents at – https://www.databridgemarketresearch.com/toc/?dbmr=global-synthetic-biology-market&Shri
Critical Insights Related to the adalimumab biosimilar Included in the Report:
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- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
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