This study involved four major activities in estimating the current size of the synthetic biology market.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Both top-down and bottom-up approaches were employed to estimate the complete market size.According to the new market research report “Synthetic Biology Market by Tools (Oligonucleotides, Enzymes, Synthetic Cells), By Technology (Gene Synthesis, Bioinformatics), By Application (Tissue Regeneration, Biofuel, Renewable Energy, Food & Agriculture, Bioremediation) – Global Forecast to 2025″, published by MarketsandMarkets™, the Synthetic Biology Market is projected to reach USD 19.8 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 23.9%.Browse in-depth TOC on “Synthetic Biology Market“234 – Tables38 – Figures256 – PagesDownload PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=889The Factors such as the increasing demand for synthetic genes & synthetic cells, wide range of applications of synthetic biology, declining cost of DNA sequencing & synthesizing, increasing R funding & initiatives in synthetic biology, and increasing investments in the market are propelling the growth of this market.
However, rising biosafety, biosecurity, and ethical concerns related to synthetic biology is likely to hamper the growth of this market.On the basis of tools, the oligonucleotides and synthetic DNA segment accounted for the largest share of the Synthetic Biology MarketBased on tools, the market has been segmented into oligonucleotides & synthetic DNA, enzymes, cloning technology kits, chassis organisms, xeno-nucleic acids, and synthetic cells.
Furthermore, the use of engineering technologies for manipulating complex genomes, growing therapeutics development for cancer and other diseases, and the increasing technological advances in CRISPR-toolbox and DNA synthesis technologies are aiding market growth.The industrial applications segment is expected to grow at the highest CAGR during the forecast period.Based on application, the Synthetic Biology Market is segmented into medical, industrial, food & agricultural, and environmental applications.
The large share of North America can be attributed to the increase in life sciences R availability of funds for research from government organizations, namely, DARPA, SynBERC, DOD, DOE, NIH, and USDA; growing number of synthetic biology companies in the US; growing efforts to increase the output of the healthcare industry; rising demand for high-quality research tools for data reproducibility; and increasing focus on developing personalized therapeutics.Prominent players in the Synthetic Biology Market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Novozymes A/S (Denmark), Ginkgo Bioworks (US), Amyris, Inc. (US), Intrexon Corporation (US), GenScript Biotech Corporation (China), Twist Bioscience (US), Synthetic Genomics, Inc. (US), Codexis, Inc. (US), Synthego Corporation (US), Creative Enzymes (US), Eurofins Scientific (Luxembourg), Cyrus Biotechnology Inc. (US), ATUM (US), TeselaGen (US), Arzeda (US), Integrated DNA Technologies, Inc. (US), and New England Biolabs (US).Browse Adjacent Markets: Biotechnology Market Research Reports & ConsultingBrowse Related Reports:Next-generation Sequencing (NGS) Market by Product (NOVASEQ, NEXTSEQ, SEQUEL, NANOPORE), Consumables, Bioinformatics, Services (EXOME, RNA, DENOVO), Technology (ION, SMRT), Application (Diagnostics, Cancer), End User, Region – Global Forecast to 2025Oligonucleotide Synthesis Market by Product (Probe, Linkers, Adaptor, Drugs, Reagent, Equipment), Type (Custom, Pre Design), Application (PCR, DNA, RNAi, Research, Therapeutic), End User (Hospital, Pharmaceutical, Biotechnology) – Global Forecast to 2024About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.