Synthetic Biology Market by Products (Synthetic DNA, Synthetic Genes, Software Tools, Synthetic Cells, Chassis Organisms), Technology (Genetic Engineering, Bioinformatics, Microfluidics), and Application (Pharmaceuticals & Diagnostics, Chemicals, Biofuels, Bioplastics, and Others) - Global Opportunity Analysis and Industry Forecast, 2015 - 2020 Update Available On-Demand
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A00094
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Pages: 172
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Jan
2016 |
22684 Views
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Author(s) :
Onkar Sumant
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Tables: 57
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Charts: 31
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Formats*:
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Request Now !Synthetic Biology Market Outlook - 2020
Global synthetic biology market was valued at $4,291 million in 2014, and expected to reach $14, 743 million by 2020, registering a CAGR of 23.0% during the forecast period 2015 - 2020. 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.
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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.
Synthetic Biology Market- Global Opportunity Analysis and Industry Forecast, 2015 - 2020
By Technology
Microfluidics segment is projected as one of the most lucrative segments.
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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.
Synthetic Biology Market- Global Opportunity Analysis and Industry Forecast, 2015 - 2020
By Product
Synthetic Cells is projected as one of the most lucrative segments.
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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.
Synthetic Biology Market- Global Opportunity Analysis and Industry Forecast, 2015 - 2020
By Geography
Asia-Pacific region would exhibit the highest CAGR of 26.5% during 2015-2020.
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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:
By Products
- Synthetic DNA
- Synthetic Oligos
- Synthetic Genes
- Software Tools
- Chassis Organisms
- Synthetic Clones
- Synthetic Cells
By Technology
- Nucleotide Synthesis And Sequencing
- Bioinformatics
- Microfluidics
- Genetic Engineering
By Application
- Pharmaceuticals & Diagnostics
- Chemicals
- Biofuels
- Bioplastics
- Others (Environment, Agriculture & Aquaculture)
By Geography
- North America
- Europe
- Asia Pacific
- LAMEA
CHAPTER 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1 CXO perspective
2.2 Market beyond: what to expect by 2025
2.2.1 Moderate growth scenario
2.2.2 Rapid growth scenario
2.2.3 Diminishing growth scenario
CHAPTER 3 SYNTHETIC BIOLOGY MARKET OVERVIEW
3.1 Synthetic biology market definition and scope
3.2 Key findings
3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.2.3 Top winning strategies
3.3 Porters five force analysis
3.3.1 Fewer suppliers lead to higher bargaining power of suppliers
3.3.2 Higher buyer concentration leads to low bargaining power
3.3.3 Low threat of substitutes due to lack of superior alternatives
3.3.4 Low threat of new entrants due to high capital investment
3.3.5 Moderate competitive rivalry
3.4 Value chain analysis
3.4.1 Research and product development
3.4.2 Product testing
3.4.3 Manufacturing
3.4.4 End users
3.5 Regulatory norms
3.6 Concerns related to synthetic biology
3.7 Market Dynamics
3.7.1 Drivers
3.7.1.1 Funding from government and Private organizations
3.7.1.2 Rising number of research facilities
3.7.1.3 Rising count of new entrants
3.7.1.4 Declining cost of DNA Sequencing
3.7.2 Restraints
3.7.2.1 Bio-safety and Bio-security Issues
3.7.2.2 Ethical concerns and stringent regulations
3.7.3 Opportunities
3.7.3.1 growing demand of bio-fuels and Bioplastics
3.7.3.2 increasing research activities in Asia Pacific region
3.7.3.3 rising R&D investments
CHAPTER 4 OVERVIEW OF NUCLEOTIDE SYNTHESIS
4.1 Technological trends in nucleotide synthesis
4.2 Commercial application scope for large DNA constructs in Europe and North America
4.2.1 Antibody engineering
4.2.2 Metabolic engineering
4.2.3 Pathway engineering
4.2.4 Other potential application
4.3 Top players positioning, 2014, (Focus on nucleotide synthesis)
4.4 Market dynamics specific to nucleotide synthesis
4.4.1 Drivers
4.4.1.1 Technical advancements in integrated sequencing
4.4.1.2 Growing demand for large DNA constructs
4.4.1.3 Increasing accountability of government funding
4.4.2 Restraints
4.4.2.1 High cost and longer duration of nucleotide synthesis
4.4.2.2 Absence of regulatory guidelines
4.4.3 Opportunities
4.4.3.1 Exploring opportunities in European countries
CHAPTER 5 WORLD SYNTHETIC BIOLOGY MARKET, BY PRODUCT
5.1 Synthetic biology market overview
5.1.1 Market size and forecast
5.2 Synthetic DNA
5.2.1 Key market trends
5.2.2 Key growth factors and opportunities
5.2.3 Market size and forecast
5.3 Synthetic Oligonucleotides
5.3.1 Key market trends
5.3.2 Key growth factors and opportunities
5.3.3 Market size and forecast
5.4 Synthetic Genes
5.4.1 Key market trends
5.4.2 Key growth factors and opportunities
5.4.3 Market size and forecast
5.5 Software tools
5.5.1 Key market trends
5.5.2 Key growth factors and opportunities
5.5.3 Market size and forecast
5.6 Chassis Organisms
5.6.1 Key market trends
5.6.2 Key growth factors and opportunities
5.6.3 Market size and forecast
5.7 Synthetic Clones
5.7.1 Key market trends
5.7.2 Key growth factors and opportunities
5.7.3 Market size and forecast
5.8 Synthetic cells
5.8.1 Key market trends
5.8.2 Key growth factors and opportunities
5.8.3 Market size and forecast
CHAPTER 6 WORLD SYNTHETIC BIOLOGY MARKET, BY TECHNOLOGY
6.1 Overview
6.1.1 Market size and forecast
6.2 Nucleotide synthesis and sequencing
6.2.1 Key market trends
6.2.2 Key growth factors and opportunities
6.2.3 Market size and forecast
6.3 Bioinformatics technologies
6.3.1 Key market trends
6.3.2 Key growth factors and opportunities
6.3.3 Market size and forecast
6.4 Microfluidics technologies
6.4.1 Key market trends
6.4.2 Key growth factors and opportunities
6.4.3 Market size and forecast
6.5 Genetic engineering
6.5.1 Key market trends
6.5.2 Key growth factors and opportunities
6.5.3 Market size and forecast
CHAPTER 7 WORLD SYNTHETIC BIOLOGY MARKET, BY APPLICATION
7.1 Synthetic biology market overview
7.1.1 Market size and forecast
7.2 Pharmaceuticals & diagnostics
7.2.1 Key market trends
7.2.2 Key growth factors and opportunities
7.2.3 Market size and forecast
7.3 Biofuels
7.3.1 Key market trends
7.3.2 Key growth factors and opportunities
7.3.3 Market size and forecast
7.4 Chemicals
7.4.1 Key market trends
7.4.2 Key growth factors and opportunities
7.4.3 Market size and forecast
7.5 Bioplastics
7.5.1 Key market trends
7.5.2 Key growth factors and opportunities
7.5.3 Market size and forecast
7.6 Others (agriculture, bioremediation and aquaculture)
7.6.1 Market size and forecast
CHAPTER 8 WORLD SYNTHETIC BIOLOGY MARKET, BY GEOGRAPHY
8.1 Overview
8.1.1 Market size and forecast
8.2 North America
8.2.1 Key market trends
8.2.2 Key growth factors and opportunities
8.2.3 Market size and forecast
8.3 Europe
8.3.1 Key market trends
8.3.2 Key growth factors and opportunities
8.3.3 Market size and forecast
8.4 Asia Pacific
8.4.1 Key market trends
8.4.2 Key growth factors and opportunities
8.4.3 Market size and forecast
8.5 LAMEA
8.5.1 Key market trends
8.5.2 Key growth factors and opportunities
8.5.3 Market size and forecast
CHAPTER 9 COMPANY PROFILES
9.1 GEN9 Inc.
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Strategic moves and developments
9.1.4 SWOT analysis of Gen9 Inc.
9.2 Codexis Inc.
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Business performance
9.2.4 Strategic moves and developments
9.2.5 SWOT analysis of Codexis
9.3 OriGene Technologies, Inc.
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Strategic moves and developments
9.3.4 SWOT analysis of OriGene
9.4 Synthetic Genomics, Inc.
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Strategic moves and developments
9.4.4 SWOT analysis of Synthetic Genomics
9.5 Thermo fisher Scientific
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Business performance
9.5.4 Strategic moves and developments
9.5.5 SWOT analysis of Thermo fisher Scientific
9.6 GENEWIZ, Inc.
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Strategic moves and development
9.6.4 SWOT analysis of GENEWIZ, Inc.
9.7 Eurofins Scientific, Inc.
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Services portfolio
9.7.4 Strategic moves and developments
9.7.5 Business performance
9.7.6 SWOT analysis of Eurofins Scientific, Inc.
9.8 Integrated DNA Technologies, Inc.
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Services Portfolio
9.8.4 Strategic moves and development
9.8.5 SWOT analysis of Integrated DNA Technologies, Inc.
9.9 DNA2.0, Inc.
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Services portfolio
9.9.4 Strategic moves and development
9.9.5 SWOT analysis of DNA2.0, Inc.
9.10 Pareto Biotechnologies
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Services Portfolio
9.10.4 Strategic moves and development
9.10.5 SWOT analysis of Pareto Biotechnologies
9.11 Synthorx, Inc.
9.11.1 Company overview
9.11.2 Company snapshot
9.11.3 Services portfolio
9.11.4 SWOT analysis of Synthorx, Inc.
9.12 TeselaGen Biotechnology
9.12.1 Company overview
9.12.2 Company snapshot
9.12.3 Services portfolio
9.12.4 Strategic moves and developments
9.12.5 SWOT Analysis of TeselaGen Biotechnology.
9.13 Editas Medicine, Inc.
9.13.1 Company overview
9.13.2 Company snapshot
9.13.3 Services portfolio
9.13.4 Strategic moves and development
9.13.5 SWOT analysis of Editas Medicine, Inc.
9.14 GenScript Corporation
9.14.1 Company overview
9.14.2 Company snapshot
9.14.3 Strategic moves and developments
9.14.4 SWOT analysis of GenScript
9.15 Twist Bioscience
9.15.1 Company overview
9.15.2 Company snapshot
9.15.3 Services portfolio
9.15.4 Strategic moves and developments
9.15.5 SWOT analysis of Twist Bioscience
9.16 GeneWorks Pty Ltd.
9.16.1 Company overview
9.16.2 Company snapshot
9.16.3 Services portfolio
9.16.4 SWOT analysis of GeneWorks Pty. Ltd.
9.17 Proterro, Inc.
9.17.1 Company overview
9.17.2 Company snapshot
9.17.3 Services portfolio
9.17.4 Strategic moves and developments
9.17.5 SWOT analysis of Proterro, Inc.
9.18 Blue heron (OriGene technologies Inc.)
9.18.1 Company overview
9.18.2 Company snapshot
9.18.3 Service portfolio of Blue heron (OriGene technologies Inc.)
9.18.4 SWOT analysis of Blue heron (OriGene technologies Inc.)
List of Figures
FIG. 1 IMPACT ANALYSIS OF MODERATE GROWTH SCENARIO (2020 - 2025)
FIG. 2 IMPACT ANALYSIS OF RAPID GROWTH SCENARIO (2020 - 2025)
FIG. 3 IMPACT ANALYSIS OF DIMINISHING GROWTH SCENARIO (2020 - 2025)
FIG. 4 TOP IMPACTING FACTORS (2014-2020)
FIG. 5 TOP INVESTMENT POCKETS
FIG. 6 TOP WINNING STRATEGIES (2013-2015)
FIG. 7 PORTERS FIVE FORCE ANALYSIS
FIG. 8 VALUE CHAIN ANALYSIS
FIG. 9 PLAYER POSITIONING OF SYNTHETIC BIOLOGY MARKET (2013)
FIG. 10 BIOFUEL PRODUCTION BY MAJOR REGIONS (2011 2020)
FIG. 11 SWOT ANALYSIS OF GEN9, INC.
FIG. 12 REVENUE GENERATED BY CODEXIS, INC., (2014-2020)
FIG. 13 SWOT ANALYSIS OF CODEXIS
FIG. 14 SWOT ANALYSIS OF ORIGENE TECHNOLOGIES, INC.
FIG. 15 SWOT ANALYSIS OF SYNTHETIC GENOMICS
FIG. 16 REVENUE GENERATED BY THERMO FISHER SCIENTIFIC (2012-2014)
FIG. 17 SWOT ANALYSIS OF THERMOFISHER SCIENTIFIC
FIG. 18 SWOT ANALYSIS OF GENEWIZ, INC.
FIG. 19 REVENUE GENERATED BY EUROFINS SCIENTIFIC (2012-2014)
FIG. 20 SWOT ANALYSIS OF EUROFINS SCIENTIFIC, INC.
FIG. 21 SWOT ANALYSIS OF INTEGRATED DNA TECHNOLOGIES, INC.
FIG. 22 SWOT ANALYSIS OF DNA2.0, INC.
FIG. 23 SWOT ANALYSIS OF PARENTO BIOTECHNOLOGIES
FIG. 24 SWOT ANALYSIS OF SYNTHORX, INC.
FIG. 25 SWOT ANALYSIS OF TESELAGEN BIOTECHNOLOGY.
FIG. 26 SWOT ANALYSIS OF EDITAS MEDICINE, INC.
FIG. 27 SWOT ANALYSIS OF GENSCRIPT
FIG. 28 SWOT ANALYSIS OF TWIST BIOSCIENCE
FIG. 29 SWOT ANALYSIS OF GENEWORKS PTT. LTD.
FIG. 30 SWOT ANALYSIS OF PROTERRO, INC.
FIG. 31 SWOT ANALYSIS OF BLUE HERON (ORIGENE TECHNOLOGIES INC.)
List of Tables
TABLE 1 WORLD SYNTHETIC BIOLOGY MARKET, MODERATE GROWTH SCENARIO, VALUE, 2020 2025 ($MILLION)
TABLE 2 WORLD SYNTHETIC BIOLOGY MARKET RAPID GROWTH SCENARIO, VALUE, 2020 2025 ($MILLION)
TABLE 3 WORLD SYNTHETIC BIOLOGY MARKET, DIMINISHING GROWTH SCENARIO, VALUE, 2020 2025 ($MILLION)
TABLE 4 COMMERCIAL APPLICATION OF SYNTHETIC BIOLOGY IN DERIVING RENEWABLE ENERGY
TABLE 5 WORLD SYNTHETIC BIOLOGY MARKET REVENUE, BY PRODUCT, 2014 2020 ($MILLION)
TABLE 6 WORLD SYNTHETIC DNA MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 7 WORLD SYNTHETIC OLIGONUCLEOTIDES MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 8 WORLD SYNTHETIC GENES MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 9 SOFTWARE TOOLS DEVELOPED FOR THE MODELING AND SIMULATION OF BIOLOGICAL INTERACTIONS
TABLE 10 WORLD SYNTHETIC BIOLOGY SOFTWARE TOOLS MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 11 WORLD CHASSIS ORGANISMS MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 12 WORLD SYNTHETIC CLONES MARKET REVENUE, BY GEOGRAPHY,2014 2020 ($MILLION)
TABLE 13 WORLD SYNTHETIC CELLS MARKET REVENUE BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 14 WORLD SYNTHETIC BIOLOGY MARKET REVENUE BY TECHNOLOGY, 2014 2020 ($MILLION)
TABLE 15 WORLD NUCLEOTIDE SYNTHESIS AND SEQUENCING MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 16 WORLD SYNTHETIC BIOLOGY BIOINFORMATICS TECHNOLOGIES MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 17 WORLD SYNTHETIC BIOLOGY MICROFLUIDICS TECHNOLOGIES MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 18 WORLD GENETIC ENGINEERING MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 19 WORLD SYNTHETIC BIOLOGY MARKET REVENUE, BY APPLICATION, 2014 2020 ($MILLION)
TABLE 20 SYNTHETIC BIOLOGY PHARMACEUTICALS & DIAGNOSTICS APPLICATION MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 21 SYNTHETIC BIOLOGY BIOFUELS INDUSTRY APPLICATION MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 22 SYNTHETIC BIOLOGY CHEMICAL INDUSTRY APPLICATION MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 23 SYNTHETIC BIOLOGY BIOPLSATICS INDUSTRY APPLICATION MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 24 SYNTHETIC BIOLOGY OTHER APPLICATIONS MARKET REVENUE, BY GEOGRAPHY, 2014 2020 ($MILLION)
TABLE 25 NORTH AMERICA SYNTHETIC BIOLOGY MARKET REVENUE, BY TECHNOLOGY, 2014 - 2020 ($MILLION)
TABLE 26 EUROPE SYNTHETIC BIOLOGY MARKET REVENUE, BY TECHNOLOGY, 2014 - 2020 ($MILLION)
TABLE 27 ASIA PACIFIC SYNTHETIC BIOLOGY MARKET REVENUE, BY APPLICATION, 2014 - 2020 ($MILLION)
TABLE 28 LAMEA SYNTHETIC BIOLOGY MARKET REVENUE, BY TECHNOLOGY, 2014 - 2020 ($MILLION)
TABLE 29 GEN9 INC., SNAPSHOT
TABLE 30 CODEXIS SNAPSHOT
TABLE 31 ORIGENE SNAPSHOT
TABLE 32 SYNTHETIC GENOMICS SNAPSHOT
TABLE 33 COMPANY SNAPSHOT OF THERMO FISHER SCIENTIFIC
TABLE 34 COMPANY SNAPSHOT
TABLE 35 EUROFINS SCIENTIFIC, INC. SNAPSHOT
TABLE 36 SERVICE PORTFOLIO OF EUROFINS SCIENTIFIC, INC.
TABLE 37 COMPANY SNAPSHOT OF INTEGRATED DNA TECHNOLOGIES, INC
TABLE 38 SERVICES PORTFOLIO OF INTEGRATED DNA TECHNOLOGIES, INC.
TABLE 39 COMPANY SNAPSHOT OF DNA2.0, INC.
TABLE 40 SERVICES PORTFOLIO OF DNA2.0, INC.
TABLE 41 COMPANY SNAPSHOT OF PARENTO BIOTECHNOLOGIES
TABLE 42 SERVICES PORTFOLIO OF PARENTO BIOTECHNOLOGIES
TABLE 43 COMPANY SNAPSHOT OF SYNTHORX, INC.
TABLE 44 SERVICES PORTFOLIO OF SYNTHORX, INC.
TABLE 45 COMPANY SNAPSHOT OF TESELAGEN BIOTECHNOLOGY
TABLE 46 SERVICES PORTFOLIO OF TESELAGEN BIOTECHNOLOGY
TABLE 47 COMPANY SNAPSHOT OF EDITAS MEDICINE, INC.
TABLE 48 SERVICES PORTFOLIO OF EDITAS MEDICINE, INC.
TABLE 49 GENSCRIPT SNAPSHOT
TABLE 50 COMPANY SNAPSHOT OF TWIST BIOSCIENCE
TABLE 51 SERVICES PORTFOLIO OF TWIST BIOSCIENCE
TABLE 52 COMPANY SNAPSHOT OF GENEWORKS PTY. LTD.
TABLE 53 SERVICES PORTFOLIO OF GENEWORKS PTY. LTD.
TABLE 54 COMPANY SNAPSHOT OF PROTERRO, INC.
TABLE 55 SERVICES PORTFOLIO OF PROTERRO, INC.
TABLE 56 COMPANY SNAPSHOT OF BLUE HERON (ORIGENE TECHNOLOGIES INC.)
TABLE 57 SERVICE PORTFOLIO OF BLUE HERON (ORIGENE TECHNOLOGIES INC.)
Number of entities conducting research in the field of synthetic biology is rising enormously. During 2009 to 2013, number of companies and universities conducting such researches has risen from 61 to 192 and 127 to 204 respectively. Since the last score, cost of DNA sequencing has seen a drastic and continuous fall. This is acting as a strong factor paving way for the synthetic biology market in developing countries. Further, rise in funding by government bodies and private organizations is propelling the market growth.
On the contrary, ethical, bio-safety and security concerns are giving a bumpy ride to the market. However, these issues would be resolved with rising awareness among people and technological advances to increase the safety in synthetic biology processes. In future, the impact of the key factors influencing the market is expected to experience a change in intensity; however, the pace with which the market is growing will be maintained during the estimation period.
Synthetic biology is a new trend in the field of biotechnology and molecular biology. This has raised the bargaining power of the suppliers of core products (DNA synthesis and oligonucleotide synthesis) due to rise in demand, favored by ongoing researches in this domain. However, declining DNA synthesis and sequencing prices would lower the bargaining power of the suppliers in the due course. The demand for enabled products such as bio-fuels, chemicals, drugs and fertilizers is expected to rise with increasing acceptance of synthetic biology products and this would give a thrust to the bargaining power of enabled product suppliers during the forecast period.
Supposedly, the bio-fuel industry would undergo a paradigm shift from the present fuel manufacturing technique to the synthetic biology processes. As per International Energy Agency (IEA), worldwide transportation fuel will have a 27% share from bio fuels by 2050. Bio-fuels are expecting tremendous growth due to rising inclination of governments and consumers towards bio-based products. In terms of geography, Asia Pacific is the fastest growing market that is assisted by improved economic conditions, which would allow investments in research and development. However, Europe would continue to lead the market throughout the analysis period due to due to huge investment in the research.
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