The synthetic biology market is estimated to grow at a CAGR of 28.2% during the forecast period from 2018 to 2025. The market for synthetic biology is estimated to reach US$ 56,044.9 Mn in 2025.
The market for synthetic biology is witnessing a potential growth rate during the previous years and is expected to witness similar trend in the coming years. Global synthetic biology market is driven by extensive use of enzymes kits and other gene synthesis products in research institutes and academics. Additionally, rising demand for enzyme based kits and solutions required for gene manipulation and rising awareness about genetic engineering among the healthcare professionals in developed nations also accelerate the market growth. However, competition among existing market players may restrain the growth of the market.
In our study, we have segmented the synthetic biology market by product, technology and application. On the basis of product, the market is segmented into enzymes, oligonucleotides, chassis organisms and xeno-nucleic acids. Enzymes acquired the largest market among the products due to its wide range of applications in healthcare. On the basis of technology, the market is segmented into gene synthesis, genome engineering, measurement and modeling, cloning and sequencing, nanotechnology, and others. Gene synthesis has the largest market share among the technologies due to an increasing research and development activities in genetics and growing number of market players offering products and solutions for gene synthesis.
On the basis of application, global synthetic biology market is segmented into industrial applications, food and agriculture, medical applications, environmental applications, and others. Geographically, the market for synthetic biology is segmented into North America, Europe, Asia Pacific (APC), Middle East and Africa (MEA) and South and Central America (S&CAM).
North America is the largest market owing to government funds, investments made by the major companies, conferences held for the awareness regarding synthetic biology, technological advancements in the field of genomics, and higher acceptance by the consumers.
Europe is the second largest market whose growth is attributed to rising government funding and increasing focus of market players in the Germany and France.The government of UK has started many initiatives in collaboration with major players in the region. For instance, The Horizon 2020 was started by the European unions as one of the largest EU Research and Innovation program in which approximately US$ 96 billion funding was available. The programmes include biotechnology as a key which enables technology for maintaining Europe’s leadership in industrial applications. The Synthetic Biology Leadership Council (SBLC) developed SynBio Strategic Plan, Biodesign for the Bioeconomy. The Department for Business, Energy and Industrial Strategy (BEIS) supports the SBLC for supporting emerging technologies, such as synthetic biology.
Asia Pacific is expected to be the fastest growing market due to increasing number of start-ups. For instance, in India government has funded IITM Bioincubator, department of Indian Institute of Technology Madras to start a state-of-the-art research facility in Cancer Biology and for setting up of a Bioinformatics Infrastructure Facility. The funds were provided by agencies such as, CSIR, DAE, DBT, and DST among others. The institute raised USD 649 million (INR 55 Crore) in fiscal year 2016-2017. Similarly, in China, Chinaccelerator is a financer that provides mentorship programs by helping start-ups.
Table of Content:
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
2 Global Synthetic Biology Market – Key takeaways
3 Global Synthetic Biology Market – market landscape
3.2 market segmentation
3.3 Global Synthetic Biology Market – By product
3.4 Global Synthetic Biology Market – By TEchnology
3.5 Global Synthetic Biology Market – By Application
3.6 Global Synthetic Biology Market – By Geography
3.7 PEST Analysis
3.7.1 North America – PEST Analysis
3.7.2 Europe – PEST Analysis
3.7.3 Asia Pacific – PEST Analysis
3.7.4 Middle East & Africa – PEST Analysis
3.7.5 South & Central America – PEST Analysis
4 Global Synthetic Biology Market – Key Market Dynamics
4.1 Key Market Drivers
4.1.1 Increasing Investments for Synthetic Biology
4.1.2 Technological Advancements
4.1.3 Rising Numbers of Start-up Companies
4.2 Key Market Restraints
4.2.1 Renewed Regulations for Biotechnology
4.3 Key Market Opportunities
4.3.1 Company initiatives in Synthetic Biology Market
4.4 Future Trends
4.4.1 Advanced Synthetic Biology
4.5 Impact analysis
5 Global Synthetic Biology Market – global
5.1 Global Synthetic Biology Market Revenue Forecasts and Analysis
5.2 Global Synthetic Biology Market, By Geography - Forecasts and Analysis
5.3 Market positioning
5.4 PERFORMANCE OF KEY PLAYERS
5.4.1 Merck KGaA
5.4.2 ThermoFisher Scientific Inc.
5.5 Clinical Trials Analysis
5.5.1 Phase I Clinical Trails
5.5.2 Phase II Clinical Trails
5.6 expert opinions
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