Absolute Market Insights recent analysis of the Synthetic Biology Market finds that the increasing demand from the The major factors driving the synthetic biology market growth are assistance from government and private organizations, an increase in the number of synthetic biology research institutions, and a decrease in the cost of DNA sequencing and synthesizing. is expected to witness maximum growth in the Synthetic Biology Market during the forecast period. The global Market revenue stood at a value USD 9.7 Bn in the year 2021.
Market Synopsis
Synthetic biology is an engineering and science interdisciplinary field that tries to redesign and create novel artificial biological pathways or synthetic biomolecules. It has been defined as a revolutionary technology at the centre of the bioeconomy, capable of offering innovative solutions to global healthcare, agriculture, manufacturing, and environmental concerns. Synthetic biology is propelling enormous discoveries in biomedicine, which will result in game-changing improvements in healthcare.
Synthetic Biology Market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behaviour such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Synthetic Biology Market is predicted to grow at a CAGR of roughly 27.60% during the forecast period.
- The Synthetic Biology Market was estimated to be worth roughly 9.7 Bn in 2021 and is expected to reach USD 30.7 Bn by 2028; based on primary research.
- On the basis of region, is projected to dominate the worldwide Synthetic Biology Market.
Market Dynamics:
Industry Analysis:
The report covers exhaustive analysis on the global Synthetic Biology Market. Industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.
Drivers:
The increasing demand for synthetic biology for research and development activities by biotechnological and pharmaceutical businesses contributes to the expansion of this industry.Many of the challenges of synthetic biology have been overcome by the recent development of efficient design and modeling-related computer tools, enhanced DNA synthesis and assembly methods to build complex DNA constructs, and cutting-edge next-generation sequencing technologies.
Restraint:
The major biosafety concern in synthetic biology is the intentional or unintentional release of synthetic organisms into the environment during research and other purposes. When synthetic microbes, released into the environment, can mutate or interact with other organisms which might result in crossbreeding with natural organisms and creating bio errors. These consequences can be threating to the ecosystem of natural organisms. Furthermore formation of antibiotic-resistant superbugs is a major biosafety concern.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pervasive might lead to a significant delay in the commercial roll-out of the packaging industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Quarterly Market Revenue Forecast 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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The Report on Synthetic Biology Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Based on regions, Asia pacific region is projected to be the fastest growing region in the global synthetic biology market over the forecast years owing to the rising number of research entities and growing economies. Furthermore, increasing adoption of new technologies for research activities by pharmaceutical and manufacturing companies is supporting for the overall regional market’s expansion to a great extent. Also, presence of major developing economies such as China and India is also contributing to the growth of the Asia pacific region in the coming years.
List of Prominent Players in Synthetic Biology Market:
- Agilent Technologies, Inc.
- Amyris
- Arzeda
- Codexis, Inc.
- GenScript
- Ginkgo Bioworks
- Illumina, Inc.
- Intrexon Corporation
- Royal Dutch Shell
- String Bio
- SynbiCITE
- Thermo Fisher Scientific
- Twist Bioscience
- ZYMERGEN INC.
- Other Market Participants
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Synthetic Biology Market?
- How will the Synthetic Biology Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Synthetic Biology Market?
- What is the Synthetic Biology Market drivers and restrictions?
- What will be the CAGR and size of the Synthetic Biology Market throughout the forecast period?
This market titled Synthetic Biology Market will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years: 2016-2028
Base Year: 2021
Historic Years: 2016-2020
Forecast Years: 2022-2028
Segmentation Covered:
- By Offering
- Products/Systems
- DNA synthesis,
- Enzymes,
- Gene Fragment,
- Algae Engineering Kits,
- Synthetic Cells,
- Others
- Software,
- Services
- Products/Systems
- By Technology
- Cloning,
- Gene synthesis,
- Microfluidic,
- Genome Engineering,
- Site-Directed Mutagenesis,
- Sequencing,
- Others
- By Application
- Food and Beverages,
- Medical Application
- Therapeutics,
- Drug Discovery,
- Vaccine Production,
- Life Science Research,
- Others
- Agriculture,
- Cosmetic and Personal care,
- Industrial and Automation,
- Chemicals,
- Renewable Energy,
- Environment,
- Others
Region & Counties Covered
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Report Coverage
- Market growth drivers
- restraints, opportunities
- Porter’s five forces analysis
- PEST analysis
- Value chain analysis
- Regulatory landscape
- Technology landscape
- Patent analysis
- Market attractiveness analysis by segments and Regional
- Company market share analysis
- COVID-19 impact analysis
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