Global Synthetic Biology Market: Snapshot
Organisms engineered with novel techniques of synthetic biology are more affordable as it increases the use of genetically modified microorganisms for various industrial applications and cuts down the cost of research. This is leading to the greater utilization of synthetic biology technologies and products by researchers across the globe. The growth of the global synthetic market is backed by the intervention of government bodies, universities, and large organizations in synthetic biology research activities.
Furthermore, the rapid advancements in technologies are working in favor of the growth of the market. According to a report by Transparency Market Research (TMR), the opportunity for the global market for synthetic biologics was worth US$5.48 bn in 2016 and is anticipated to rise at a tremendous CAGR of 32.6% from 2013 to 2019, reaching a valuation of US$13.37 bn by 2019.
Demand for Synthetic Biology Techniques to Remain High in Healthcare Sector Due to Rising Prevalence of Chronic Diseases
On the basis of application, healthcare will continue to account for the lion’s share of the overall market revenue throughout the forecast period. The rapidly growing global population along with the increasing incidence of chronic and infectious diseases is augmenting the growth of the segment. Synthetic biology has the potential to offer cost-effective and highly efficient drugs and vaccines with low side effects and enhanced nutrition. These drugs and vaccines can be used for the treatment of various diseases such as AIDS, cancer, malaria, and other infections. The agriculture segment is estimated to expand at a phenomenal CAGR of 52.5% during the forecast period owing to the ever-rising demand for food coupled with the declining availability of agricultural land.
Based on technology, genome engineering will continue to dominate the market until 2019. The technology is being increasingly adopted due to the fact that it helps in modifying a specific area of DNA, thereby offering better reproducibility. However, the biological components and integrated systems segment is poised to outpace other segments, progressing at a CAGR of 43.0% during the same period. The growth of this segment can be attributed to its potential of reducing the cost of producing large-scale biofuels and medicines.
North America to Outperform Europe Owing to Increasing Research and Development Efforts
Europe was the leading regional market in terms of revenue in 2016. The increasing government participation and funding for the development of synthetic biology are driving the growth of the region. Moreover, the growing applications of this technology in the field of health, energy, environment, and other areas are contributing to the growth of the region. However, the region is expected to lose its dominance to North America by the end of the forecast period.
The growth of the North America region can be attributed to the positive initiatives by government and private organizations to promote synthetic biology research activities. The rising scientific research and development of new technologies are expanding the scope for the development of synthetic biology in the region. Furthermore, the domicile of a large number of key players offers North America an edge over other regions. The region is anticipated to represent 46% of the overall market revenue by 2019.
On the other hand, Asia Pacific is likely to rise at a noteworthy CAGR of 34.2% during the same period. The immense growth potential in this region is attracting the support of many international organizations for the development of synthetic biology. The burgeoning demand for high-quality nutrition and cheap medicines among people is surging the demand for synthetic biology techniques and thus fuelling the market in the region. Some of the prominent players in the global synthetic biology market are Gevo Inc., Bristol Mayer, DSM, Life Technologies, DuPont Inc., LS9 Inc., Genomatica Inc., and Amyris Inc.
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)