The global synthetic biology market size surpassed at US$ 4.90 Bn in 2019 and expected to reach US$ 39.5 billion by 2027 with a CAGR of 26.1% from 2020 to 2027. Rise in prevalence of chronic conditions, such as cancer and diabetes, has increased the patient pool, followed by rise in demand for biologic drugs for treating various chronic conditions, resulting in boosting the growth of the synthetic biology market.
In terms of product, the core product segment accounted for major share of the global synthetic biology market in 2019. The segment is anticipated to witness strong growth from 2020 to 2027. The core product segment is further sub-segmented into synthetic DNA, synthetic genes, synthetic cells, XNA (xeno nucleic acid), and chassis organisms. The synthetic DNA sub-segment accounted for major share of the global synthetic biology market due to the increasing research & developmental activities associated to this sub-segment and increased penetration in the market.
Based on technology, the genome engineering segment held a major share in 2019 in synthetic biology market, due to its ability to make alterations to the genome of the living cell, and thereby gaining attention of the scientists and key players.
Based on application, the health care segment held a prominent share in 2019 in synthetic biology market due to increase in prevalence of various diseases, rise in key players, and expanding infrastructure as well as increasing focus of government in treatments and facilities in health care
North America held the largest share of the global synthetic biology market in 2018. North America accounted for significant share of the global synthetic biology market in 2019. The market in the region is likely to grow at a rapid pace during the forecast period.
The U.S. is projected to dominate the synthetic biology market in the region during the forecast period, owing to early adoption of technologies. The country is anticipated to be the most attractive market for synthetic biology, with high attractiveness index.
XNA (Xeno Nucleic Acid)
Biological Components and Integrated Systems
Chemicals (Including Biofuels)
Others (Biosecurity, R&D, Energy, and Environment)
Middle East & Africa
The report on the synthetic biology market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market during the forecast period of 2020 to 2027. The report provides the overall market revenue of the synthetic biology market for the period of 2017–2027, with 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for synthetic biology market during the forecast period.
The report is prepared after an extensive research. Primary research involves bulk of research efforts wherein, analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global synthetic biology market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global synthetic biology market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global synthetic biology market. These indices serve as valuable tools for existing synthetic biology market players as well as for entities interested in entering the global synthetic biology market.
The report delves into the competition landscape of the global synthetic biology market. Key players operating in the global synthetic biology market are identified, and each one of them is profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global synthetic biology market that have been profiled in this report.
Key Questions Answered in the Synthetic Biology Market Report
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global synthetic biology market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global synthetic biology market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the synthetic biology market as primary sources.
These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from synthetic biology market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global synthetic biology market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and two bottom-up approaches to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global synthetic biology market more reliably and accurately.