How Has The Synthetic Biology Market Size Evolved In Recent Years?
The synthetic biology market has seen considerable growth due to a variety of factors.
• Over the recent past, the market size of synthetic biology has seen massive growth. It is projected to expand from a value of $21.13 billion in 2024 to $26.7 billion in 2025, with a compound annual growth rate of 26.3%.
Several factors have sparked this historical growth, including the amplified healthcare and life science facilities, vast investment in pharmaceuticals, widespread use in end-user industries, the affordability of DNA sequencing and synthesis, along with an increase in financing.
What Is The Expected Growth In The Synthetic Biology Market Size?
The synthetic biology market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations for the synthetic biology market size project tremendous expansion in the impending years. The market is predicted to reach $54.27 billion by 2029, growing at a compound annual growth rate (CAGR) of 19.4%.
Factors driving growth during the forecast period include expanded government initiatives, a surge in demand for alternative fuel options, increasing requirements for genetically modified crops, and acceleration in the investment towards private companies. Noteworthy trends predicted to arise during the forecast period encompass strategic collaborations and partnerships, a rise in automation within nucleotide synthesis and sequencing, increased emphasis on gene editing, innovative product adoption, the escalating utilization of cell-free technology, as well as the emergence of new processes for biofuel production that are more environment-friendly.
What Are The Leading Drivers Of Growth In The Synthetic Biology Market?
The synthetic biology market is anticipated to expand due to an increase in research and development (R&D) investment. R&D encompasses the systematic exploration, testing, and innovation required to build new knowledge, technologies, or goods to enhance current offerings or devise new ones. R&D investments are growing due to intensified competition, the call for innovation, technological progress, and the necessity for firms to adapt to evolving consumer tastes and market trends. The R&D investment in synthetic biology is crucial for taking advantage of potential sustainable solutions in sectors such as healthcare, agriculture, and environmental management by customizing biological systems and organisms. For example, as per a report by the Office for National Statistics, a government agency based in the UK, the pharmaceuticals product group was the primary contributor to overall business R&D in the UK in 2022, with a total of £9.0 billion ($11.7 billion), making up 17.9% of all R&D directed by UK companies. Therefore, the increase in R&D investment is fueling the synthetic biology market's expansion.
What Are The Primary Segments In The Global Synthetic Biology Market?
The synthetic biology market covered in this report is segmented –
1) By Technology: Nucleotide Synthesis And Sequencing, Bioinformatics, Microfluidics, Genetic Engineering
3) By Product Type: Oligonucleotides, Enzymes, Cloning And Assembly Kits, Xeno-Nucleic Acids (XNA), Chassis Organism
2) By Application: Pharmaceuticals And Diagnostics, Chemicals, Biofuels, Bioplastics, Other Application
Subsegments:
1) By Nucleotide Synthesis And Sequencing: DNA Synthesis Technologies, Next-Generation Sequencing (NGS), Sanger Sequencing
2) By Bioinformatics: Software Tools For Genomic Data Analysis, Databases For Gene/Protein Information, Algorithms For Gene Editing And Design
3) By Microfluidics: Lab-On-A-Chip Technologies, Microfluidic Devices For Biological Assays, Applications In Drug Discovery And Diagnostics
4) By Genetic Engineering: CRISPR/Cas9 Technology, Recombinant DNA Technology, Synthetic Gene Construction And Assembly
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Which Key Trends Are Driving Changes In The Synthetic Biology Market?
Cutting-edge developments in DNA sequencing technology have empowered scientists to utilize DNA as a tool for storing non-genetic data. As the need for data storage escalates, DNA data storage emerges as a practical resolution, with a single strand of DNA capable of storing approximately 455 Exabyte of data (equivalent to 455 billion gigabytes). This innovative approach has attracted substantial investment from market players. The technology works by transforming binary data (data encoded as 0O and 1) into DNA strands comprising four unique sequences of A, G, C, T. These represent the four base elements of DNA: Adenine, Guanine, Cytosine, and Thymine (often referred to as AGCT). In stark contrast to traditional hard drives, which see data corruption or damage within 30 years, information encoded into DNA can endure for thousands of years. Illustrating its potential, Microsoft and University of Washington researchers, as reported by Nature Publishing Group, managed to store 35 unique digital files, equating to over 200 megabytes of data, into DNA. Further investments are being planned to continue advancing this technology.
Who Are the Key Players in the Synthetic Biology Market?
Major companies operating in the synthetic biology market include:
• Thermo Fisher Scientific Inc
• Danaher Corporation
• Eurofins Scientific
• Merck KGaA
• Novozymes A/S
• Agilent Technologies
• New England Biolabs Inc
• Precigen Inc
• Amyris. Inc
• Genscript Biotech Corporation
• Codex Genetics
• Cathay Biotech
• Bota Biosciences
• Bluepha
• Spiber
• OriCiro Genomics Inc
• Provectus Algae
• Puraffinity
• Royal DSM NV
• Colorifix
• Phytoform Labs
• Desktop Genetics
• NanoSyrinx
• Pulmobiotics S.L
• EnginZyme
• Chain Biotech
• Nuclera Nucleics
• Biosynthetics GmbH
• Entelechon GmbH
• Sloning BioTechnology GmbH
• Prokarium Ltd
• Synbio
• Captor Therapeutics
• Gero.ai
• ARNA Genomics
• Solvo Omixon
• Soft flow
• Algenol
• Genomatica
• Integrated DNA Technologies
• Sana Biotechnology
• Impossible Foods
• Apeel Sciences
• Twist Bioscience
• Synlogic
• Zymergen Inc
• Ginkgo Bioworks
• Codexis
• Arzeda Corporation
• Synthetic Genomics
• Conagen
• Dupont
• Oxitec Ltd
• Sentebiolab
• GEEN Biotechnology Inc
• Genbiotek Biosistem Laboratory Ltd
What Is The Most Dominant Region In The Synthetic Biology Market?
North America was the largest region in the synthetic biology market in 2024. Western Europe was the second largest region in the global synthetic biology market share. The regions covered in the synthetic biology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
