Gene Synthesis Market - Segmented by Method (Oligonucleotide Synthesis, and Gene Assembly), End User, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Market Overview

The Gene Synthesis Market is expected to grow at a CAGR of 17% over the forecast period.  Gene synthesis refers to the in vitro base-by-base synthesis of double-stranded DNA molecules. Gene synthesis is one of the primary technologies, which is used in the field of synthetic biology. The technique presents itself as an essential tool in the areas of vaccine development, gene therapy, molecular engineering, and in development of recombinant, mutated, or entirely new DNA sequences. Unlike DNA replication that occurs in vivo, or by Polymerase Chain Reaction (PCR), gene synthesis does not require a template strand for its initiation.

Increasing Demand for Personalized Medicine is contributing to the Market Growth

Personalized medicine aims to provide tailor-made therapies to individual patients, depending on the molecular basis of disease, has become popular over the recent years. Rising demand for personalized medicine has created numerous opportunities in the field of genetic medicine, and in order to exploit these opportunities, novel technologies must be developed, which, in turn, have resulted in the rapid expansion of the gene synthesis market. To gain a competitive advantage in the emerging field of personalized medicine, the biotechnology and pharmaceutical firms are exploring the fields of genomic medicine and direct-to-consumer genetic testing. Furthermore, to develop these products the industry is ramping up R&D process in the areas of biotechnology, where gene synthesis finds its major applications.

Other factors, which are contributing to the market growth include increasing R&D in the field of genomics, next-generation sequencing, and increased government funding toward genomics.

High Cost and Complexity of Techniques is Limiting the Adoption

In the current era, owing to the increasing demand for personalized medicine and rise in genomic research for applications, such as insulin synthesis and genetically modified crops, the ability to synthesize any arbitrary DNA sequence is increasingly in demand. The complexity of techniques and high cost associated with the procurement of instruments makes it impossible for most academic institutes and laboratories to synthesize custom gene sequences by themselves. Therefore, the gene synthesis industry works on a service-based model, where the costumers order pre-synthesized gene sequences from the select gene synthesizing companies.

Other factors, which can potentially impede the market growth include lack of skilled professionals.                                                       

North America Dominates the Gene Synthesis Market

In 2017, North America was the largest regional market, in terms of revenue. The increasing prevalence of genetic and chronic disorders, such as cancer, aging population, increasing demand for targeted and personalized medicine, and favorable government initiatives are the primary factors behind the large market size.

Key Developments in the Gene Synthesis Market

• Aug 2018: Applied DNA Sciences Inc., to present its high expression amplicons technology at 6th Annual Immuno-Oncology Summit in Boston.

Major Players: ATUM (DNA2.0 Inc.), Bio Basic Inc., Beijing SBS Genetech Co., Ltd, Eurofins Genomics, Genewiz Inc., Genscript Biotech Corp, Merck KGaA, OriGene Technologies Inc, and Thermo Fisher Scientific Inc. (GeneArt), among others

Gene Synthesis Market Report Summary

Reasons to Purchase Gene Synthesis Market

• Analyzing various perspectives of the global gene synthesis market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Gene Synthesis Market

• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.