Synthetic Biology Industry Overview
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 19.23 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Synthetic Biology Market Analysis
The synthetic biology market is expected to register a CAGR of 19.23% during the forecast period.
During the COVID-19 pandemic, the market had a slight decline in growth due to decreasing production, followed by lockdown and lack of labor situation. The prices were higher than usual. But the synthetic biology market had a positive impact on the market due to the increasing demand for innovation and development of vaccines, therapeutics, and diagnostics. This played a major role in increasing the revenue of the studied market. The ongoing research for COVID vaccine and drugs furthermore boosts the market growth. According to the research article published in MolecularCloud in August 2020, titled “Synthetic Biology’s role in fighting COVID-19”, synthetic biology addresses the requirement of vaccine development during the COVID-19 pandemic by empowering drug discovery scientists to synthesize DNA fragments, clones, or entire variant libraries. Due to the wide application of synthetic biology in the vaccine and drug development against COVID-19, the studied market is expected to grow during the pandemic.
Certain factors are propelling the growth of the market, including 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. There have been many research studies and projects running in various countries concerning synthetic biology that has tried to tap multiple complexities in the genomes of organisms, which has helped create more effective and efficient therapies to treat them.
Synthetic biology technologies and products are also finding significant usage 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.
However, the biosafety and biosecurity of developing synthetic biological products and the ethical issues concerning the market hinder market growth. It is not hard to see why some artificial biological products may fail to fit into the accurate dichotomy between living and non-living. Such concerns restrain research and development and, in turn, the market’s growth.
Synthetic Biology Industry Segments
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 at the re-designing and fabrication of biological components and systems. Therefore, it combines the knowledge of genomics and the chemical synthesis of DNA for the rapid production of cataloged DNA sequences. The synthetic biology market has been segmented by product (core products and enabling products, enabled products), application (healthcare, chemicals (including biofuels), food and agriculture, other applications (biosecurity, energy, and environment)), and geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Synthetic Biology Market Trends
This section covers the major market trends shaping the Synthetic Biology Market according to our research experts:
Healthcare Segment is Expected to Hold the Largest Market Share in the Synthetic Biology Market
The rapid development of synthetic biology has driven the healthcare industry concerning the varied therapeutic approaches by 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 starting from drug and vaccine development, applications manufacturing, and diagnostic tests.
Various initiatives taken by governments and other organizations are expected to influence the market studied in this segment positively. For instance, the Ministers’ Media Centre, Government of Australia announced through a press release in November 2020 that Australia’s Morrison government planned to invest around AUD 8.3 million in establishing a cutting-edge synthetic biology research facility ‘’BioFoundry’’ to accelerate research into areas, including human therapeutics and other new products. Such investments are further expected to enhance the synthetic biology field in the healthcare vertical.
In January 2021, AbSci, one of the leading synthetic biology companies enabling drug discovery and biomanufacturing of next-generation biotherapeutics, announced the acquisition of Denovium Inc., an artificial intelligence (AI) deep learning company. This acquisition represents the perfect synergy of groundbreaking synthetic biology and cutting-edge deep learning AI to create in silico predictive protein drug design and cell line development capabilities with the potential to completely change the paradigm of biopharmaceutical discovery and development.
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North America is Expected to Dominate the Synthetic Biology Market during the Forecast Period
North America is estimated to account for the largest share of 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 being done in the fields of 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, like the National Institute of Health (NIH), and private organizations, like 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 February 2020, a new research team was formed in MIT Media Lab called Nano-Cybernetic Biotrek, led by an Indian Engineer and physicist, Deblina Sarkar, to bridge the gap between nanotechnology and synthetic biology with various research activities.
In September 2020, the United States-based Synthetic biology startup, Zymergen Inc., received USD 300 million in a new funding round from Baillie Gifford & Co. to accelerate the company’s R&D activities in synthetic biology.
Furthermore, increasing government and private institutions' support and R&D investments in drug discovery and development are also major growth factors expected to drive the market during the forecast period.
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Synthetic Biology Market Competitor Analysis
The synthetic biology market is consolidated in terms of competition. The competitive analysis of the companies reveals that most of the companies are concentrating on agreements followed by product launches for the expansion of their business. The value chain of product manufacturing includes the steps that require collaborative efforts by two or more companies, and this is the key reason for agreements among the companies. Some of the companies that are currently dominating the market are Amyris Inc., DuPont De Nemours and Company, Genscript, Integrated DNA Technologies Inc. (Danaher Corporation), Precigen, Inc (Intrexon Corporation), New England Biolabs Inc., Novozymes AS, Koninklijke DSM NV, Synthetic Genomics Inc., Thermo Fisher Scientific Inc., Ribbon Biolabs GmbH, and Twist Bioscience.
Synthetic Biology Market Top Players
Genscript
Thermo Fisher Scientific Inc
Amyris Inc
Integrated DNA Technologies Inc. (Danaher Corporation)
Du Pont De Nemours and Company
*Disclaimer: Major Players sorted in no particular order
Synthetic Biology Market Recent Developments
- January 31, 2022, Ribbon Biolabs, a DNA synthesis company, raised a EUR 18 million series A financing fund. The company enabled commercial-scale production facilities and the United States expansion for DNA synthesis technology with this fund.
- November 30, 2021, GenScript expanded its gene synthesis manufacturing capabilities in the United States with fully automated oligo synthesis and sequencing platforms.
Synthetic Biology Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Support from Government and Private Institutions
4.2.2 Increasing R&D Investments in Drug Discovery and Development
4.2.3 Declining Cost of DNA Sequencing and Synthesizing
4.3 Market Restraints
4.3.1 Bio-safety and Bio-security
4.3.2 Ethical Issues
4.3.3 Reimbursement Cuts Causing Pricing Pressure
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Core Products
5.1.2 Enabling Products
5.1.3 Enabled Products
5.2 By Applications
5.2.1 Healthcare
5.2.2 Chemicals (Including Biofuels)
5.2.3 Food and Agriculture
5.2.4 Other Applications (Biosecurity, Energy, and Environment)
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amyris Inc.
6.1.2 DuPont De Nemours and Company
6.1.3 Genscript
6.1.4 Danaher Corporation (Integrated DNA Technologies Inc.)
6.1.5 Precigen Inc. (Intrexon Corporation)
6.1.6 New England Biolabs Inc.
6.1.7 Novozymes AS
6.1.8 Koninklijke DSM NV
6.1.9 Synthetic Genomics Inc.
6.1.10 Thermo Fisher Scientific Inc.
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Synthetic Biology Market Research FAQs
What is the study period of this market?
The Global Synthetic Biology Market is studied from 2018 - 2028.
What is the growth rate of Global Synthetic Biology Market?
The Global Synthetic Biology Market is growing at a CAGR of 19.23% over the next 5 years.
What is Global Synthetic Biology Market size in 2018?
The Global Synthetic Biology Market is valued at 43 Million USD in 2018.
Which region has highest growth rate in Global Synthetic Biology Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Global Synthetic Biology Market?
North America holds highest share in 2021.
Who are the key players in Global Synthetic Biology Market?
Genscript, Thermo Fisher Scientific Inc, Amyris Inc, Integrated DNA Technologies Inc. (Danaher Corporation), Du Pont De Nemours and Company are the major companies operating in Global Synthetic Biology Market.
Global Synthetic Biology Industry Reports
In-depth industry statistics and market share insights of the Global Synthetic Biology Market sector for 2020, 2021, and 2022. The Global Synthetic Biology Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Global Synthetic Biology Market report PDF.
