Global Synthetic Biology Market: Snapshot
When the organisms are engineered with new techniques of synthetic biology then they are more efficient, because then the genetically modified microorganisms can be used for many industrial purposes and are also cost effective. And this has increased the usage of synthetic biology products by the researchers throughout the world. The rise of the synthetic market is attributed to the universities, other large organisations, as well as the government bodies as they carried out researches on the synthetic biology activities.
With the growth in the field of technology there has been rise in the synthetic biology market. The synthetic biologics market accounted for a total of US dollars 5.48 billion in the year 2016 and is predicted to grow at a brilliant CAGR of 32.6% during the years between 2013 to 2019 thereby accounting for a total of US dollars 13.37 billion towards the end of 2019.
Agricultural Segment to Exhibit Whopping 52.5% CAGR
In terms of application, it is predicted that the healthcare sector will continue to dominate this market during the assessment period. The main reason behind this is the continuously rising population along with the growth in the number of diseases in the world. With the help of synthetic biology, cheap priced as well as effective drugs can be provided to the patients which are also safe to use. These drugs can be used for a variety of diseases. Due to the less number of agricultural lands existing today as well as the continuously growing requirement of food, even the agricultural segment is predicted to grow at a staggering CAGR of 52.5% throughout the assessment period.
Genome Engineering to Continue to be Leading Technology
On the basis of technology, it is predicted that till 2019, genome engineering will continue its dominance in the synthetic biology market. There has been a continuous growth in the adoption of technology as it helps to modify a particular part of the DNA. And, it is also predicted that the biological components and integrated systems sector will dominate other sectors by growing at an incredible CAGR of 43.0% throughout the assessment period. The reason behind such a high CAGR is its ability to minimise the costs of manufacturing biofuels and medicines in bulk.
North America Predicted to Generate Highest Revenue for Synthetic Biology
On the basis of the revenue generated, Europe generated the highest income in the year 2016 and this is attributed to the investment and studies that the government has undertaken for the growth of the synthetic biology. Along with this, the growth in the usage of this technology in the energy, health, environment, as well as other sectors has also lead to the rise of this market in this region. But, it is predicted that North America will perform better than Europe towards the end of the assessment period. The steps undertaken by both the private organisations as well as the government for promoting synthetic biology research activities has led to the rise of the North America region. North America is predicted to account for a total of 46% of the total income generated by synthetic biology market by 2019.
Synthetic biology defined as the synthesis of artificial or natural components in order to form new artificial living system by re-molding existing biological elements. It aims to attain new preferred functions of artificially modified organisms intended for high yield production of biological systems. Synthetic biology plays an important role in the field of life sciences by developing cheap synthesis procedures. Increasing scientific research coupled with introduction of advanced technologies in synthetic biology will drive the growth of this market.
The market for synthetic biology is segmented as: by products, by technologies and by applications. Product segment includes core products and enabling products. Core product segment comprises synthetic DNA, synthetic genes, synthetic cells, XNA and chassis organisms. While enabling products are segmented into DNA and oligonucleotide synthesis products. The report includes market estimations of the global synthetic biology market, by product segment in terms of value (USD million) for the period 2013 – 2019, considering 2012 as the base year. In addition, current market trends and recent developments are taken into consideration while determining the growth rate of each product segment. The report provides market size and forecasts for each product segment with CAGR % for the period from 2013 to 2019.
Synthetic biology, by technologies segment is divided into genome engineering, DNA sequencing, bioinformatics and biological components and integrated systems. This report covers participation of different organizations of the U.S. and the U.K. for the development of synthetic biology field. In addition, it explains various technological advancements taking place in each of these segments. The report includes market estimations of the global synthetic biology market in terms of value (USD million) for the period 2013 – 2019, considering 2012 as the base year. In addition, current market trends and recent developments are taken into consideration while determining the growth rate of the global synthetic biology market. The report provides market size and forecasts for each segment and geographic region with CAGR % for the period from 2013 to 2019.
Application segment of synthetic biology market includes healthcare, chemicals, agriculture and others. The market size and forecast in terms of USD million for each application has been provided for the period 2011 to 2019, considering 2012 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2013 to 2019 for each segment.
The market is also forecasted in terms of value (USD million) for the period 2013 – 2019 for four major geographic regions, namely North America, Europe, Asia-Pacific and Rest of the World (RoW). The market overview section of the report discusses the market dynamics that include drivers, restraints and opportunities influencing the market. In addition, major events have also been discussed in the section that have boosted the growth of the market and expected to further propel the growth during the forecast period. Also, this section covers market attractiveness analysis (by geography) for the year 2012 and Porter’s five forces analysis for the global synthetic biology market. Market share (%) by revenue for the major players operating in this market has also been provided for the year 2012 in the competitive landscape section, followed by a list of recommendations for the existing and new players. In addition, the report also profiled key players of the market on various parameters such as business overview, financial overview, product portfolio, business strategies and recent developments of the respective company.
Some of the key market players of the global synthetic biology market include Agrivida, Inc., Biosearch Technologies, Inc., DuPont, Inc., Evolva SA, Exxon Mobil Corporationand others. Market players are profiled in this report on the basis of attributes such as company overview, financial overview, business strategies adopted by the companies to ensure sustainability and maximize profits, product portfolio and recent developments.
The global synthetic biology market is segmented into the following categories:
Synthetic Biology Market, by Products
- Synthetic DNA
- Synthetic Genes
- Synthetic Cells
- XNA (Xeno Nucleic Acid)
- Chassis Organisms
- DNA Synthesis
- Oligonucleotide Synthesis
Synthetic Biology Market, by Technologies
- Genome Engineering
- DNA Sequencing
- Biological Components and Integrated Systems
Synthetic Biology Market, by Applications
- Chemicals (Including Bio-Fuels)
- Others (Biosecurity, R&D, Energy and Environment)
Synthetic Biology Market, by Geography
- North America
- Rest of the World (RoW)