Synthetic Biology Market
Synthetic Biology Market (Product: Synthetic DNA, Synthetic Genes, Synthetic Cells, XNA, Chassis Organisms, DNA Synthesis, Oligonucleotide Synthesis) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027
Press Release :
Synthetic Biology Market: Overview
- According to Transparency Market Research’s latest report on the synthetic biology market for the historical period 2017–2018 and forecast period 2019–2027, rise in demand for biologic drugs for treating various chronic conditions, decline in cost of DNA sequencing and synthesis, technological advancements, and entry of new players are anticipated to drive the global synthetic biology market
- According to the report, the global synthetic biology market was valued at US$ 4.96 Bn in 2018 and is projected to expand at a CAGR of 26.3% from 2019 to 2027
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Rise in Prevalence of Various Diseases and Technology Advancements: A Key Driver
- In October 2019, scientists reported in an article in the Nature Journal that a new DNA editing tool called prime editing can be a real search-and-replace function for DNA and repair any of the 75,000 known mutations that cause inherited disease in humans
- CRISPR (clustered regularly interspaced short palindromic repeats) is a tool used for editing genomes, which has revolutionized synthetic biology. It allows researchers to easily alter DNA sequences and modify gene function and thereby makes gene editing procedures simple and reliable, presenting new opportunities for biological research and technological development. It is used for various applications such as correction of genetic defects.
- Synthetic biology can be used for treatment of various diseases such as cancer. It can be utilized to create robust and effective adaptive cancer therapies that enable the specific targeting of cancer cells while sparing healthy cells.
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Increase in Investments by Government and Private Organizations into Synthetic Biology Market
- According to the news portal by Science X, the government investment has been very strong over the recent years into synthetic biology. Road-maps and associated development structures have been developed via public agencies in several countries, including the U.K., the U.S., Singapore, China, Finland, and countries in the EU.
- According to the news portal by Science X, private investment in synthetic biology is also growing at a remarkable rate. SynBioBeta stated that synthetic biology companies in the U.S. raised around US$ 200 Mn in investment in 2009. In 2017, investments rose to US$ 1.8 Bn.
- According to SynBioBeta, synthetic biology investments took place from 2015 to 2018, and showed that venture funding for the first eight months of 2018 grew 73% from 2017, with a trend toward bigger deals
- Hence, increase in interest of key players and rise in investments and research & developmental activities in the synthetic biology market are the factors responsible for tremendously boosting the growth of the synthetic biology market
Biosafety, Biosecurity, and Ethical Risk Related to Synthetic Biology to Hamper Synthetic Biology Market
- According to an article “Biosafety and biosecurity in Synthetic Biology: A review”, published in 2019 in Critical Reviews in Environmental Science and Technology Journal, synthetic biology is a growing field which holds great promise in several areas of application. However, it is also associated with serious risks for human health and the environment that must be anticipated in order for development of effective prevention and management measures.
- According to a study titled, “Synthetic biology: Recent progress, biosafety and biosecurity concerns, and possible solutions” published in 2019, although no biosafety and biosecurity incidents related to synthetic biology have been reported, regulation or governance at the levels of individual scientists, institutions, countries, and the global community are to be considered to prevent future crises
North America to Account for Major Share of Global Synthetic Biology Market
- North America is projected to account for a leading share of the global synthetic biology market due to rise in patient population, presence of well-established health care infrastructure, increase in technological advancements, rise in number of well-equipped laboratories, surge in research & developmental activities in synthetic biology, growing biotechnology industry, and presence of key players in the region
- The synthetic biology market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to rise in geriatric population, increase in research & developmental activities, increase in initiatives by governments in the health care sector, surge in incidence of chronic diseases, and rise in interest of key players in expanding market presence in the region
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Global Synthetic Biology Market: Competitive Landscape
- This report profiles major players in the global synthetic biology market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- Key players operating in the global synthetic biology market include
- Evolva, Amyris
- ATG:biosynthetics GmbH
- Bayer AG
- Bristol-Myers Squibb Company
- BIONEER CORPORATION
- Biosearch Technologies
- BASF SE
- Ginkgo Bioworks
- Integrated DNA Technologies, Inc.
- Thermo Fisher Scientific
- Eurofins Genomics LLC
- OriGene Technologies, Inc.
Global Synthetic Biology Market: Key Developments
Key players in the global synthetic biology market are engaged in regulatory approvals, advanced product development, launch of new products, increase in investments and funds, and acquisition & collaborative agreements with other companies. These strategies of key players are likely to fuel growth of the global synthetic biology market. A few expansion strategies adopted by players operating in the synthetic biology market are:
- In November 2018, Pivot Bio and Monsanto Company, a member of the Bayer Group, announced a collaboration for the development of Bradyrhizobium strains with enhanced nitrogen production for soybean growers in the U.S.
- In November 2018, Amyris, Inc., a leader in research, development, and production of pure, sustainable ingredients for the health & wellness, clean beauty, and flavors & fragrances markets, announced the launch of a new, sugarcane-derived, zero calorie sweetener developed in collaboration with Givaudan, a flavor industry leader in the science behind sugar and taste
- In March 2018, Bayer AG and Ginkgo Bioworks announced the official name of their joint venture, Joyn Bio. Bayer and Ginkgo founded Joyn Bio in September 2017 with the goal of bringing advanced techniques in synthetic biology to agriculture to support the industry’s sustainability efforts, starting with reducing the environmental impact of nitrogen fertilizer
- In March 2018, Exxon Mobil Corporation and Synthetic Genomics Inc. announced a new phase in their joint algae biofuel research program that could lead to the technical ability to produce 10,000 barrels of algae biofuel per day by 2025
The report on the global synthetic biology market discussed individual strategies, followed by company profiles of manufacturers of synthetic biology. The ‘competitive landscape’ section has been included in the synthetic biology market report to provide readers with a dashboard view and a company market share analysis of key players operating in the global synthetic biology market.
TMR’s report on the synthetic biology market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market during the forecast period of 2019 to 2027. The report provides the overall market revenue of the synthetic biology market for the period of 2017–2027, with 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for synthetic biology market during the forecast period.
The report is prepared after an extensive research. Primary research involves bulk of research efforts wherein, analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global synthetic biology market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global synthetic biology market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global synthetic biology market. These indices serve as valuable tools for existing synthetic biology market players as well as for entities interested in entering the global synthetic biology market.
The report delves into the competition landscape of the global synthetic biology market. Key players operating in the global synthetic biology market are identified, and each one of them is profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global synthetic biology market that have been profiled in this report.
Key Questions Answered in the Synthetic Biology Market Report
- What is the scope of growth of product companies in the synthetic biology sector?
- What will be the Y-o-Y growth of the synthetic biology market between 2019 and 2027?
- What is the influence of changing trends in Technology on the global synthetic biology market?
- Will North America continue to remain the most profitable regional market for synthetic biology products providers?
- Which factors will impede the growth of the global synthetic biology market during the forecast period?
- Which are the leading companies in the global synthetic biology market?
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global synthetic biology market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global synthetic biology market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the synthetic biology market as primary sources.
These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from synthetic biology market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global synthetic biology market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and two bottom-up approaches to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global synthetic biology market more reliably and accurately.
Regional Segmentation of Synthetic Biology Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Synthetic Biology Market–Segmentation
Biological Components and Integrated Systems
Chemicals (Including Biofuels)
Others (Biosecurity, R&D, Energy, and Environment)
Middle East & Africa