Synthetic Biology Market Overview:
Global synthetic biology market was valued at $5,245.7 million in 2015, registering a CAGR of 15.5% during the forecast period 2015 - 2022. Synthetic biology is a novel area of research that is the amalgamation of multiple disciplines such as molecular biology, biotechnology, biophysics and genetic engineering among others.
There are chiefly two approaches used in synthetic biology namely, top down approach and bottom up approach. Top-down approach involves the re-design and fabrication of existing biological systems for producing synthetic products. Bottom-up approach involves designing and construction of de novo biological systems or devices that do not exist in nature. An impending need to understand the functioning of genetic elements, cells and biological processes has led to the emergence of synthetic biology industry. Products developed in this new biological system are used across many industries, including pharmaceutical & diagnostics, energy, bioplastics and environment.
Assistance from government and private organizations, rising number of synthetic biology research entities and declining cost of DNA sequencing & synthesizing are the major factors driving the market growth. On the contrary, bio-safety & bio-security issues, would hinder the industry growth. The issues related to the misuse of synthetic biology or possibilities of accidental release of pathogens into free atmosphere would remain as a key challenge worldwide. However, rising demand for bio-fuels, growing awareness in emerging economies and rising R&D investments for synthetic drugs and vaccines would offer lucrative opportunities in the market.
Based on geography, the market is segmented across North America, Europe, Asia-Pacific and LAMEA regions. In 2015, Europe was the leading geography in terms of revenue generation followed by North America. Further, Europe would continue to maintain its lead position through 2020 owing to constant support from European government and private organizations, establishment of small start-ups and investment by leading companies especially in the biofuel segment. Asia Pacific is projected as the fastest growing market owing to increasing number of research entities.
The market report provides a comprehensive analysis of the leading companies operating in the global synthetic biology market. Key companies profiled in the report are Thermo Fischer Scientific, GenScript, DNA2.0, Integrated DNA technologies, Eurofins Scientific, Inc., Origene technologies, Scientific genomics Inc. Editas Medicine, Inc., Pareto Biotechnologies, Blue heron, TeselaGen, Twist biosciences, Syntrox Inc., and others.
SYNTHETIC BIOLOGY MARKET KEY BENEFITS:
- This report provides an extensive analysis of the current and emerging market trends and a comprehensive overview of dynamics in the global synthetic biology market.
- The report provides a detailed analysis of the current market and estimations during 2014‐2020, which would enable the stakeholders to capitalize on the prevailing opportunities.
- The synthetic biology market scenario has been comprehensively analyzed in accordance to key geographical regions.
- The key players operating in the industry have been profiled in the report, and their strategies have been thoroughly analyzed to understand the competitive outlook of the market.
- Competitive intelligence highlights the business practices followed by leading market players adopted by them to increase their market share across various geographies.
- SWOT analysis enables to study the internal environment of the leading companies and the factors affecting their size are highlighted for effective strategy formulation.
SYNTHETIC BIOLOGY MARKET KEY SEGMENTS:
The global Synthetic Biology market is segmented as:
- Synthetic DNA
- Synthetic oligos
- Synthetic genes
- Software tools
- Chassis organisms
- Synthetic clones
- Synthetic cells
- Nucleotide synthesis and sequencing
- Genetic engineering
- Pharmaceuticals and diagnostics
- Others (Environment, agriculture & aquaculture)
- North America
- Asia Pacific