Synthetic Biology Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Synthetic Biology Market Report is Segmented by Product (Core Products, Enabling Products, and Enabled Products), Application (Healthcare, Chemicals (Including Biofuels), Food and Agriculture, and Other Applications (Biosecurity, Energy, and Environment)), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America).

Synthetic Biology Market Size

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Synthetic Biology Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 79.39 Billion
Market Size (2029) USD 145.49 Billion
CAGR (2024 - 2029) 12.88 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Synthetic Biology Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Synthetic Biology Market Analysis

The Synthetic Biology Market size is estimated at USD 79.39 billion in 2024, and is expected to reach USD 145.49 billion by 2029, growing at a CAGR of 12.88% during the forecast period (2024-2029).

The market is expected to grow with the increasing support from the government and private institutions, increasing R&D investments in drug discovery, and the development and declining cost of DNA sequencing and synthesizing. The growing involvement of government bodies, research institutes, and large organizations in synthetic biology research activities will likely support the market in the next few years. Governments of various nations have been providing research support for synthetic biology because of its extensive applications. For instance, in September 2022, the Government of New South Wales announced an investment of over USD 6.0 million into a new synthetic biology and biomanufacturing development program, which would improve access to manufacturing and production facilities and equipment across the State of Wales, Australia.

Similarly, many research studies and projects concerning synthetic biology have been running in various countries that have tried to tap multiple complexities in the genomes of organisms, which has helped create more effective and efficient therapies to treat them. For instance, in the United States, SynBio research funding increased from USD 161.0 million in 2022, with public funding totaling USD 820.0 million over the last five years for synthetic biology research. Similarly, the White House of the United States issued an executive order in September 2022, launching a national biotechnology and biomanufacturing initiative that placed synthetic biology as a centerpiece of the strategies for sustainability, competitiveness, and economic growth across all levels of government. The order’s impact could be far-reaching, including significant investments in developing medicines and commodities, reducing waste, and advancing sustainable farming while mitigating climate change impacts.

Synthetic biology technologies and products are also significantly used in various application areas. Since the organisms engineered with synthetic biology techniques are relatively reasonable, owing to their use in various industrial applications, which also translates into a reduction in the cost of research, the demand for these techniques is growing worldwide. Therefore, owing to the aforementioned factors, such as increasing investment in research related to synthetic biology, the market is anticipated to witness growth during the forecast period.

However, factors such as biosafety and biosecurity, ethical issues, and reimbursement cuts, which cause pricing pressure, will likely impede market growth.

Synthetic Biology Market Trends

The Healthcare Segment is Expected to Witness Significant Growth During the Forecast Period

The rapid development of synthetic biology has driven the healthcare industry to consider the varied therapeutic approaches using live bacteria, artificial cells, and engineered phages. For instance, it has enabled life technologies to design and manufacture antigens and variants with rapid results, high expression, and capacity. Synthetic biology has several applications, including drug and vaccine development to applications manufacturing and diagnostic tests. For instance, a study published in the Journal BMJ in March 2023 stated that the United States invested over USD 31.9 billion in developing, producing, and purchasing the mRNA COVID-19 vaccines, including significant investments through March 2022.

Various initiatives from governments and other organizations are expected to influence the market in this segment positively. For instance, in July 2022, SynbiCITE, the National Centre for the Industrial Translation of Synthetic Biology in the United Kingdom, received a grant of USD 6.6 million (GBP 5.5 million) from SynBioVen. The funding would enable the Imperial-hosted Center to continue to support synthetic biology startups and small and medium enterprises, strengthen the emerging economy of the United Kingdom, and unlock the societal benefits of synthetic biology. In June 2023, scientists at the International Society for Stem Cell Research’s annual meeting showcased the creation of synthetic human embryos using stem cells in a groundbreaking advance that sidesteps the need for eggs or sperm. Scientists mentioned that these model embryos, which resemble those in the earliest stages of human development, could provide a crucial window into the impact of genetic disorders and the biological causes of recurrent miscarriage. Thus, such developments in healthcare related to synthetic biology are expected to boost the segment growth.

Therefore, the healthcare segment is expected to witness significant growth during the forecast period due to the abovementioned factors, including the active research and developments in synthetic biology for healthcare areas.

Synthetic Biology Market - Number of Active Clinical Trial Studies of mRNA Vaccine, By Country, 2023

North America is Expected to Witness Significant Growth During the Forecast Period

North America is estimated to witness significant growth in the synthetic biology market due to the increasing demand for bio-based products, increased investments in synthetic biology companies, and rising R&D funding for synthetic biology. The United States contributes majorly to the research in drug discovery, genomics, and proteomics structure prediction, and soon in the region, thereby boosting the growth of the synthetic biology market.

Various universities and research institutes received funding from governmental organizations, such as the National Institute of Health (NIH), and private organizations, like the Gates and Melinda Foundation, for developing various bioinformatics, DNA sequencing and biological components, and integrated systems devices, which can be widely used for various healthcare and other applications. In October 2022, the Government of Canada invested over USD 4.13 million (CAD 5.6 million) to support the early-stage genomics companies in bringing new products to market. This would boost genetic engineering or synthetic biology involving molecular biosciences with computing, automation artificial intelligence (AI), and miniaturization.

In September 2022, the United States Department of Energy (DOE) invested USD 178 million in bioenergy research to advance sustainable technology breakthroughs, improve food and agricultural production and public health, address climate change, and create more resilient supply chains. This investment would support cutting-edge biotechnology R&D of bioenergy crops, industrial microorganisms, and microbiomes. Also, increasing government and private institutions' support and R&D investments in drug discovery and development are major growth factors expected to drive the market during the forecast period.

Therefore, owing to the aforementioned factors, such as the increasing focus on synthetic biology research, the market is anticipated to grow in North America.

Synthetic Biology Market - Growth Rate by Region

Synthetic Biology Industry Segmentation

The synthetic biology market is moderately consolidated due to a few companies operating globally and regionally. The competitive landscape includes an analysis of some international and local companies that hold market shares and are well known, including Genscript, Thermo Fisher Scientific Inc., Amyris Inc., Danaher Corporation (Integrated DNA Technologies Inc.), and Illumina Inc., Precigen Inc. (Intrexon Corporation), New England Biolabs Inc., Novozymes AS, Koninklijke DSM NV, and Viridos, Inc. (Synthetic Genomics Inc.).

Synthetic Biology Market Leaders

  1. Genscript

  2. Thermo Fisher Scientific Inc

  3. Amyris Inc

  4. Integrated DNA Technologies Inc. (Danaher Corporation)

  5. Illumina, Inc.

*Disclaimer: Major Players sorted in no particular order

Synthetic Biology Market Concentration
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Synthetic Biology Market News

  • January 2024: Rice University of the United States launched the Rice Synthetic Biology Institute, which aims to catalyze collaborative research in synthetic biology and its translation into technologies that benefit society.
  • May 2023: GenScript Biotech Corporation, the sponsor of the SynBioBeta Conference in Oakland, California, showcased the latest synthetic biology tools and techniques with strategic partner Allozymes and a diverse line-up of key opinion leaders (KOLs).

Synthetic Biology Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Support from Government and Private Institutions

      2. 4.2.2 Increasing R&D Investments in Drug Discovery and Development

      3. 4.2.3 Declining Cost of DNA Sequencing and Synthesizing

    3. 4.3 Market Restraints

      1. 4.3.1 Bio-safety and Bio-security

      2. 4.3.2 Ethical Issues Related to Synthetic Biology

      3. 4.3.3 Reimbursement Cuts Causing Pricing Pressure

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 5.1 By Product

      1. 5.1.1 Core Products

      2. 5.1.2 Enabling Products

      3. 5.1.3 Enabled Products

    2. 5.2 By Applications

      1. 5.2.1 Healthcare

      2. 5.2.2 Chemicals (Including Biofuels)

      3. 5.2.3 Food and Agriculture

      4. 5.2.4 Other Applications (Biosecurity, Energy, and Environment)

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 GenScript

      2. 6.1.2 Thermo Fisher Scientific Inc.

      3. 6.1.3 Amyris Inc.

      4. 6.1.4 Danaher Corporation (Integrated DNA Technologies Inc.)

      5. 6.1.5 Illumina Inc.

      6. 6.1.6 Precigen Inc. (Intrexon Corporation)

      7. 6.1.7 New England Biolabs Inc.

      8. 6.1.8 Novozymes AS

      9. 6.1.9 Koninklijke DSM NV

      10. 6.1.10 Viridos Inc. (Synthetic Genomics Inc.)

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Synthetic Biology Industry Segmentation

As per the scope of the report, synthetic biology is a new interdisciplinary area that involves the application of engineering principles to biology. It aims to re-design and fabricate biological components and systems. Therefore, it combines the knowledge of genomics and the chemical synthesis of DNA to produce cataloged DNA sequences rapidly. The synthetic biology market is segmented by product, application, and geography. By product, the market is segmented into core, enabling, and enabled products. By application, the market is segmented into healthcare, chemicals (including biofuels), food and agriculture, and other applications (biosecurity, energy, and environment). By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.

By Product
Core Products
Enabling Products
Enabled Products
By Applications
Healthcare
Chemicals (Including Biofuels)
Food and Agriculture
Other Applications (Biosecurity, Energy, and Environment)
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Synthetic Biology Market Research FAQs

The Synthetic Biology Market size is expected to reach USD 79.39 billion in 2024 and grow at a CAGR of 12.88% to reach USD 145.49 billion by 2029.

In 2024, the Synthetic Biology Market size is expected to reach USD 79.39 billion.

Genscript, Thermo Fisher Scientific Inc, Amyris Inc, Integrated DNA Technologies Inc. (Danaher Corporation) and Illumina, Inc. are the major companies operating in the Synthetic Biology Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Synthetic Biology Market.

In 2023, the Synthetic Biology Market size was estimated at USD 69.16 billion. The report covers the Synthetic Biology Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Synthetic Biology Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Biofuels, biomaterials, sustainable agriculture, and environmental remediation are the top applications of Synthetic Biology beyond the pharmaceutical industry.

Synthetic Biology Industry Report

The global synthetic biology market is on an upward trajectory, powered by breakthroughs in technology, enhanced government funding, and the rising call for eco-friendly practices. The integration of AI and machine learning is pushing forward R&D, significantly benefiting sectors like healthcare, which sees a vital need for novel treatments. North America leads the market due to major investments and a focus on leveraging synthetic biology across various industries. Although faced with ethical and biosafety concerns, opportunities abound as AI/ML technologies promise to revolutionize biological research and decision-making. This evolution positions synthetic biology as a pivotal element in modern biotechnology, offering a lucrative landscape for synthetic biology companies. Insights from Mordor Intelligence™ reveal a promising future, underscoring the market's potential expansion and the innovation contributions of key players. Get a sample of this industry analysis as a free report PDF download.

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Synthetic Biology Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)