Synthetic biology has an array of applications in the fields of medicine, agriculture, nanotechnology, and industrial biotechnology. This has attracted interests of researchers from across the globe and has led to a rise in funding from public and private organizations, which, in turn, help in the growth of the market.
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Global Synthetic Biology Market Segmentation:
In this report, the market is segmented by tool, technology, application, and region. On the basis tool, the synthetic biology market is segmented into oligonucleotides, enzymes, cloning technology kits, chassis organisms, and xeno-nucleic acids. The chassis organisms segment is expected to grow at the highest rate during the forecast period. The increasing demand for green alternatives (biomass is converted to chemicals using engineered bacteria, yeasts, and other microorganisms) to fossil fuels is a key driver for this segment.
By technology, the market is segmented into gene synthesis, genome engineering, cloning and sequencing, next-generation sequencing, site-directed mutagenesis, measurement and modeling, microfluidics, and nanotechnology. In 2017, the gene synthesis segment is expected to account for the largest share of the market in technology.
The market is segmented into medical (pharmaceutical, drug discovery & therapeutics, and artificial tissue and tissue regeneration), industrial (biofuel & renewable energy, industrial enzymes, and biomaterials & green chemicals), food & agriculture, and environmental (bioremediation and biosensing) on the basis of application.
What Drives the Market?
1. Wide Range of Applications of Synthetic Biology
2. Rising R&D Funding and Initiatives in Synthetic Biology
3. Increasing Demand for Synthetic Genes and Synthetic Cells
4. Increasing Investments in Synthetic Biology Companies
Geographical Growth Analysis:
The market in Europe is expected to register the highest growth rate from 2017 to 2022. The rising international alliances between the European countries and other countries and heavy funding from the government to foster the synthetic biology research in Europe are major factors driving the growth of market in this region. Additionally, factors such as increasing investments for the adoption of novel synthetic biology technologies, rising R&D funding and collaborations are driving the growth of the market in this region.
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Key Players and Strategies Adopted by Them:
Key players in the global Synthetic Biology Market include Thermo Fisher (US), Novozymes (Denmark), Merck KGaA (Germany), Intrexon (US), and Agilent Technologies (US), Amyris (US), GenScript (US), Ginkgo Bioworks (US), Integrated DNA Technologies (US), New England Biolabs (US), Synthetic Genomics (US), and Twist Bioscience (US). These players are increasingly collaborating, and partnering with companies to offer their synthetic oligonucleotides and to develop synthetic organisms.
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