At 18.5% CAGR, Global Synthetic Biology Market Size Envisaged to Reach USD 71.51 Billion By 2032: Polaris Market Research

NEW YORK, May 17, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Synthetic Biology Market Size, Share & Trends Analysis Report By Product (Enzymes, Cloning Technologies Kits), By Technology (PCR, NGS), By Application (Non-healthcare, Healthcare), And Segment Forecasts, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global synthetic biology market size/share was valued at USD 13.07 Billion in 202 and is expected to touch USD 71.51 Billion By 2032, growing at a CAGR of 18.5% during the forecast period."

What is Synthetic Biology? How Big is Synthetic Biology Market Size & Share?

• Overview

Synthetic biology is a field of research that involves designing and constructing new biological parts such as enzymes, metabolic pathways, and genetic circuits for useful purposes or redesigning existing biological systems found in nature. This can involve generating synthetic DNA sequences, changing already-existing animals, or even designing wholly new species from the start are all examples of genetic engineering.

Synthetic biology researchers and firms globally are utilizing nature's power to produce a substance, such as a medicine or fuel. The common goal of scientists is to develop new systems to meet performance specifications using tools of modeling, simulation, and comparison to experiment. Growing number of applications for therapeutic genome editing, multiplexed diagnostics, and cellular recording is expected to fuel the synthetic biology market demand.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• Biosciences Inc.
• Codexis, Inc.
• Creative Biogene
• CREATIVE ENZYMES
• Enbiotix, Inc.
• Illumina, Inc.
• Merck Kgaa (Sigma-Aldrich Co. LLC)
• New England Biolabs
• Euro fins Scientific
• Novozymes
• Pareto Bio, Inc

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Prominent Growth Driving Factors

• The growing adoption of synthetic biology in energy and chemical industries: The use of organisms and goods created through synthetic biology techniques in industries like energy and chemicals is expected to create new opportunities for market. Thus, the growing adoption of synthetic biology in various industries, including energy and chemicals, is expected to propel the synthetic biology market size.
• Increased demand for products and research efforts: Following the COVID-19 outbreak, the use of synthetic biology products has increased. The pandemic has spurred significant research and development efforts of pharmaceutical, biotechnological industry, and synthetic biology industry players to address the urgent need for effective diagnostics, therapeutics, and vaccines for COVID-19. This factor has been fueling the market growth.
• Key players' R&D efforts in biofuel and fashion industries: Market key players are focusing on R&D efforts to develop and use synthetic biology techniques to enhance performance and promote the use of low-cost inputs like a waste to enhance the generation of conventional biofuel. For instance, fashion companies such as Modern Meadow, Vitro Labs, and Bolt Threads use biotechnology to develop sustainable materials.
• Addressing climate change through synthetic biology: Growing need for renewable energy sources and demand for alternative energy sources such as biofuels as a result of rising concerns over climate change and consumption of conventional energy sources is majorly driving the synthetic biology market growth. Synthetic biology has made the production process of biofuels more efficient and sustainable by engineering microorganisms, which has raised interest in the area and funding.

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Top Trends Influencing the Market

• Strong investments from corporate and public partnerships: As per the report by SynBioBeta, in 2020, the startups in the synthetic biology field increased by 7.8 billion in investment. Firms such as DNA Script and Arbor Biotechnologies elevated about 215 million and 167.2 million dollars, respectively. The sizeable investment supports in the growth of companies along the supply chain and encourages the movement of money through the market.
• Rising technological developments: Synthetic biology market players are introducing advanced technologies to reach the growing demand and capture hidden market opportunities. For instance, in November 2021, Creative Biogene introduced its broad shRNA products to boost RNAi research.
• Development of gene editing technologies such as CRISPR/Cas9: With the aid of these technologies, precise alterations to an organism's genome are possible, allowing for the development of new features or functions. The promise for synthetic biology to revolutionize biotechnology and medicine led to a rise in interest in gene therapy and genetic engineering.

Segmental Analysis

• Oligonucleotide/oligo segment held the largest synthetic biology market share in 2022

Oligonucleotides are a crucial part of many molecular and synthetic biology uses. The key contributors to this growth are the rising use of targeted NGS, DNA computing, mutagenesis studies, and CRISPR gene editing. For instance, OligoMix is a cutting-edge and unique tool for genetic research. It simultaneously generates a huge number of oligonucleotide sequences. The cost for the same is less than 0.8 cents per base.

• PCR segment dominated the market in 2022

By technology synthetic biology market segmentation, in 2022, PCR witnessed the greatest revenue share because PCR is a crucial tool for the recognition and assessment of particular gene series in the Polymerase Chain Reaction (PCR). Real-time PCR techniques are often employed in PCR-based genomic research because of their high sensitivity and specificity. This approach is frequently utilized in a variety of sectors, such as forensic science, DNA cloning, molecular diagnostics, and genomics.

• Healthcare is anticipated to account for the significant revenue share over the forecast period

Based on application, healthcare category is predicted to register a significant revenue share throughout the anticipated period. This is because synthetic biology-based diagnostics, which are extremely accurate, quick, non-invasive, and real-time method, helps to identify pathogens, medicines, and cancer cells. Thus, a surge in neurological illnesses such as multiple sclerosis is enhancing market growth. Moreover, rising developments in computer science and artificial intelligence are expected to accelerate the market growth.

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Synthetic Biology Market: Report Scope & Segmentation

Geographical Overview

• North America accounted for the largest market share in 2022

Based on geography, synthetic biology market in North America held the highest revenue share in 2022 owing to the growing number of investments by private companies, rising government support, and favorable policies. The U.S. mainly emphasizes study in the areas of proteomics, genomic structure prediction, and drug screening and discovery in order to augment the development of the synthetic biology market.

In the Asia Pacific region, the market is anticipated to witness the fastest growth due to factors such as increasing funding and partnerships in China, increasing collaborations in the field of synthetic biology, and increasing investments in Asia Pacific countries.

Browse the Detail Report "Synthetic Biology Market Size, Share & Trends Analysis Report By Product (Enzymes, Cloning Technologies Kits), By Technology (PCR, NGS), By Application (Non-healthcare, Healthcare), And Segment Forecasts, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/synthetic-biology-market      

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Recent Developments

• In January 2021, Novozymes launched Frontia GlutenEx with the goal of helping wheat manufacturers recover the gluten protein more effectively while using less energy.
• In February 2021, Merck and BioNTech (Germany) collaborated to provide lipids for the Pfizer-BioNTech COVID-19 Vaccine (BNT162b2).

Frequently Asked Questions:

• What are the latest research and activities of the industry?
• Who are the crucial companies operating the market?
• What are the key business strategies chosen by them to sustain in the market?
• What are the major industry norms influencing the development of the industry?
• What is the economic effect on the business and the improvement pattern of the business?
• Which is the most propelling country in the industry?
• Which application or product type will obtain progressive development possibilities during the forecast period?

Polaris Market Research has segmented the Synthetic Biology Market report based on product, technology, application and region:

By Product Outlook

• Oligonucleotide/Oligo Pools and Synthetic DNA
• Enzymes
• Cloning Technologies Kits
• Xeno-Nucleic Acids
• Chassis Organism

By Technology Outlook

• NGS Technology
• PCR Technology
• Genome Editing Technology
• Bioprocessing Technology
• Other Technologies

By Application Outlook

• Healthcare
• Non-Healthcare

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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