The global synthetic biology market size was around $12.80 billion – $13.86 billion in 2018, and its value is projected to increment with a profitable CAGR of around 36% to 38% over the forecast period 2019-2026.
This report covers Synthetic Biology Market Size by Product and applications, Synthetic Biology market share by top 5 companies and also the market share by start-ups during the forecast period. The analyst of the report has pinpointed North America as the dominating region, which held a maximum share of around 41% to 43% among other regions in the synthetic biology market in 2018. Additionally, the bio-medicine and healthcare industries hold major synthetic biology market shares and are estimated to increase with a progressive CAGR of around 40% to 45% during the forecast period 2019-2026.
Increased adoption of synthetic biology in pharmaceuticals, drug discovery, and therapeutics are stroking the growth of the biomedicine industry. Further, the healthcare industry is witnessing remarkable growth due to the enhanced production volume of medicines and wastage reduction during the manufacturing process of medical products by using synthetic biology technology.
Synthetic Biology Market – Product Introduction:
Synthetic biology is an emerging technology which is gaining an intensified demand from biological food & genetically modified crops to increase yields. It is used to increase the rate of natural fermentation of polymers, improve efficiency in bioprocessing of pharmaceuticals, fabrication process, and in developing bio-based products and services. Growing utilization of this technology in a wide range of potential applications that are from life sciences research to biofuel.
Additionally, significant development of synthetic biology in biofuels, biological components, DNA and bio-products are poised to escalate the growth of synthetic biology market in the near future. Synthetic biology involves redesigning of organisms to develop medicine through its better understanding of complex diseases, thus it leads to assist in developing new vaccines such as DNA vaccines and DNA-based gene therapy products to eliminate cancer. Advancing genetics and biological modeling systems are used to satisfy the significant requirement of improved drugs and vaccines.
Synthetic Biology Market Competitive Landscape:
Thermo Fisher Scientific, Gen Script, Integrated DNA Technologies, Inc., OriGene Technologies, Inc., ATUM, Synthetic Genomics, Inc., Pareto Biotechnologies, Inc., Blue Heron Biotech, and LLC are some of the major players operating in the synthetic biology market.
Thermo Fisher Scientific:
The prominent synthetic biology market company is mainly focused on the development of advanced DNA fragments used for cloning and screening to enable the identification of the desired clone. This led to an increase in global demand for all Gene Art Strings DNA products for protein expression. PHC Holdings Corporation, a global innovator of healthcare solutions, acquired Thermo Fisher Scientific for an amount of $1.14 billion in January 2019. This acquisition mainly focused, to increase further production growth to solve complex analytical challenges, to improve patient diagnostics and to deliver medicines. On the other hand, the move expands its business portfolio by offering value-added products and services across diabetes care, diagnostics, life sciences, and healthcare to meet the demand in the synthetic biology market.
In November 2018 Thermo Fisher Scientific opens a new bioprocess design center in Shanghai. It is mainly established to collaborate and connect with biologic developers to design optimal bioprocessing solutions. These solutions are widely used to enhance the performance of synthetic biology in manufacturing biologic medicines.
This firm provides gene synthesis services and offers solutions for synthetic biology, CRISPR genome editing and transcription activator-like effectors. In March 2017 this organization officially signed a partnership agreement with the International Genetically Engineered Machine (IGEM) foundation to establish the synthetic biology research community in China to expand its global presence. In this deal, GenScript supports the IGEM foundation, by empowering teams through its mentorship which enables the young scientists to solve real-world scientific and medical challenges, for further expansion in the synthetic biology community.
Widespread application of synthetic biology in numerous domains such as pharmaceuticals, petrochemicals, manufacturing, and agriculture is stroking the demand for the same. Growing demand for the biological food & genetically modified crops and declining prices of DNA sequencing and synthesis with advancing technologies are also expected to reflect positively on the global synthetic biology market.
Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the global Synthetic Biology Market on the basis of, Product, Technology, Application and region:
By Product Outlook (Revenue, USD Million; 2016-2026)
By Technology Outlook (Revenue, USD Million; 2016-2026)
Application Outlook (Revenue, USD Million; 2016-2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
U.S. Virtual Visits Market (By Service Type: Cold & Flu management, Allergies, Urgent Care, Preventive Care, Chronic Care Management, Behavioural Health ; By Commercial Plan Type: Small Group, Self-Funded/ASO Group Plans, Medicaid, Medicare, By Age Group, By Gender)- Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030Read more...
Next-Generation Sequencing Services Market (By Service Type: Human Genome Sequencing, Gene Regulation Services; By Workflow: Pre-sequencing, Sequencing, Data Analysis; By End-use)- Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030Read more...
Pediatric Clinical Trials Market (By Phase: Phase II, IV; By Study Design: Treatment, Observational Studies; By Therapeutic Areas: Mental Health Disorders, Oncology)- Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030Read more...
Medical Digital Imaging Systems Market (By Type: X-ray, MRI, Ultrasound, CT, Nuclear Imaging; By Technology: 2D, 3D/4D) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030Read more...
U.S. Pharmacy Benefit Management Market (By Business Model: Standalone, Health Insurance Providers, Retail Pharmacy; By End Use: Commercial, Federal) - Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030Read more...