NEW YORK, July 30, 2024 /PRNewswire/ -- The
global synthetic biology market size is estimated to grow
by USD 55.60 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 34.1% during the forecast period. Growing applications
leading to growing adoption of synthetic biology is driving market
growth, with a trend towards evolving regulatory framework around
synthetic biology. However, technical challenges poses a challenge.
Key market players include Agilent Technologies Inc., Algenol,
Amyris Inc., CD Biosynsis, Codexis Inc, Creative Biogene, Danaher
Corp., Eurofins Scientific SE, Genomatica Inc., GenScript Biotech
Corp., Ginkgo Bioworks Holdings Inc., Illumina Inc., Merck KGaA,
New England Biolabs Inc., Novozymes AS, Precigen Inc., Sanofi SA,
Synthego Corp., Thermo Fisher Scientific Inc., and Twist Bioscience
Corp..
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Synthetic Biology
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
34.1%
|
Market growth
2024-2028
|
USD 55600.6
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
27.6
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
41%
|
Key
countries
|
US, UK, China, France,
and Germany
|
Key companies
profiled
|
Agilent Technologies
Inc., Algenol, Amyris Inc., CD Biosynsis, Codexis Inc, Creative
Biogene, Danaher Corp., Eurofins Scientific SE, Genomatica Inc.,
GenScript Biotech Corp., Ginkgo Bioworks Holdings Inc., Illumina
Inc., Merck KGaA, New England Biolabs Inc., Novozymes AS, Precigen
Inc., Sanofi SA, Synthego Corp., Thermo Fisher Scientific Inc., and
Twist Bioscience Corp.
|
Market Driver
Synthetic biology has gained significant adoption by companies
across various industries in recent years. This technological
advancement brings about critical regulatory considerations,
particularly in the areas of biosafety and biosecurity. Governments
worldwide are addressing these concerns by creating clear policies
and stringent regulations to mitigate potential risks. The United
Nations CBD is spearheading a global framework for synthetic
biology, with 196 countries involved as of 2022. In the US, the
Toxic Substances Control Act (TSCA) and various other statutes
regulate the potential human health and environmental impacts.
Europe has a multilevel regulatory
approach, with restrictions on human embryo gene therapy.
Developing countries in APAC require further clarification on
synthetic biology's definition, applications, and uses. The
evolving regulatory landscape is essential for the growth of the
global synthetic biology market, fostering investment, innovation,
and ensuring product safety and efficacy.
Synthetic Biology is a dynamic and innovative industry, focusing
on designing and engineering biological systems using DNA
sequencing and synthesizing techniques. Trends include the
development of synthetic organisms, antibiotic-resistant superbugs
solution, and novel therapeutics. Biosafety, biosecurity, and
ethical concerns are crucial. Synthetic DNA segment leads in
growth, with enzymes, cloning technology kits, and synthetic cells
following. Companies like Modern Meadow, Bolt Threads, and
Vitro Labs are pioneering synthetic
organisms, while Bio-foundries and Biofuel production are driving
environmental applications. AI, machine learning, and cellular
recording are revolutionizing biological phenomena. Genome editing,
Xeno-nucleic acids, and therapeutic applications are design
objectives. Infrastructure and policies, public-private
partnerships, and multilateral cooperation are shaping the future.
Key players include SynBioBeta, Arbor Biotechnologies, DNA Script,
and Genome editing companies. PCR and Real-time PCR assays are
essential tools. The market is vast, with potential in
pharmaceuticals, biotechnology, and fuel alternatives.
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Market Challenges
- Synthetic biology, while offering immense potential, presents
unique challenges for companies in the market. Living organisms'
complexity and unpredictable behavior contrast sharply with
engineered systems like automobiles and computers. Researchers face
difficulties working at the molecular and cellular levels due to
biological systems' intricacy. The transition from cellular to
system levels, such as engineered tissues, amplifies complexity.
Limited knowledge on effectively utilizing available biological
parts is another hurdle. Rationally designing organisms is still in
its infancy, and the full potential of synthetic biology
applications remains undiscovered. Genetic circuits, which consist
of interacting proteins and genes, are the basis for biological
functions. However, these circuits are often embedded in complex
networks, making it challenging to comprehend and study their core
design. These technical challenges hinder the growth of the global
synthetic biology market during the forecast period.
- Synthetic Biology is a rapidly growing industry with
significant potential for innovation in healthcare and agriculture.
R&D investments from biopharmaceutical companies and academic
research institutions are driving advancements in this field.
Strategic investments from firms like Casdin Capital and Sumitomo
Chemical are boosting the market. However, market concentration and
regulatory hurdles pose challenges. Advancing technology offers
solutions for diseases like sickle cell anemia, cystic fibrosis,
and cancer through DNA-level manipulation of genetic material.
Synthetic Biology tools enable programming cells at the genetic
code level using bacterial genomes as proof of concept. Despite
these advancements, safety, ethical use, and compliance
difficulties remain concerns. Regulatory approval processes and
public perception pose significant challenges. Synthetic Biology
offers potential in advanced diagnostics, personalized treatments,
and regenerative medicine through therapeutic proteins, antibodies,
vaccines, and cellular engineering. The industry also impacts
livestock and crop cultivation, offering cost-effective solutions
for pharmaceutical investment and drug development. However, the
high costs associated with regulatory compliance and ethical
considerations may hinder growth. Innovations in synthetic biology
include 3D printing of living tissues and advanced biological
pathways. These advancements hold immense potential for the future
of healthcare and agriculture.
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Segment Overview
This synthetic biology market report extensively covers market
segmentation by
- Application
- 1.1 Healthcare
- 1.2 Industrial
- 1.3 Food and agriculture
- 1.4 Others
- Product
- 2.1 Oligonucleotides
- 2.2 Enzymes
- 2.3 Cloning technology kits
- 2.4 Xeno-nucleic acids
- 2.5 Chassis organism
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Healthcare- The Synthetic Biology market refers
to the application of engineering principles to living organisms to
create new biological parts, devices, and systems. This field
offers significant opportunities for businesses through the
development of new products and processes in industries such as
healthcare, agriculture, and energy. Companies are investing in
synthetic biology to improve efficiency, reduce costs, and create
innovative solutions. The market is expected to grow steadily due
to increasing demand for sustainable and cost-effective solutions.
Businesses can collaborate with research institutions and invest in
synthetic biology startups to stay competitive and drive
innovation.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
Synthetic Biology is an interdisciplinary field that combines
engineering, biology, and technology to design and create new
biological parts, devices, and systems. Buying behavior in this
market is driven by the potential applications in various sectors,
including pharmaceuticals, biotechnology, healthcare verticals, and
biofuel production. Synthetic Biology enables DNA sequencing and
synthesizing, leading to advancements in synthetic organisms,
multiplexed diagnostics, cellular recording, therapeutic genome
editing, and more. However, biosafety, biosecurity, and ethical
concerns persist, necessitating stringent regulations. Modern
Meadow and Bolt Threads are pioneering the use of synthetic biology
in creating new materials for industries like fashion and
manufacturing. Gene-editing technologies, synthetic DNA, RNA
development, drug discovery, genome engineering, biomaterials,
medical devices, and biopharmaceutical companies are also key areas
of focus in this dynamic and innovative market.
Market Research Overview
Synthetic Biology Market: A Rapidly Evolving Industry Synthetic
Biology is revolutionizing various sectors with its potential to
design and construct new biological parts, devices, and systems.
This field involves DNA sequencing, synthesizing, and manipulating
genetic material to create novel organisms and biological
phenomena. Buying behavior in the Synthetic Biology Market is
driven by advancements in technology, ethical considerations,
biosafety and biosecurity concerns, and the potential for medical
and environmental applications. Key segments include synthetic DNA,
enzymes, cloning technology kits, synthetic cells, chassis
organisms, xeno-nucleic acids, and more. Companies are investing
heavily in R&D, collaborating through public-private
partnerships, and multilateral cooperation to address regulatory
hurdles and advance technology. Applications span from medical to
environmental, including novel therapeutics, fuel alternatives,
multiplexed diagnostics, cellular recording, and therapeutic genome
editing. Biotechnology and pharmaceutical industries are major
consumers, with biofuel production, Modern Meadow, Bolt Threads,
and Vitro Labs leading the way.
Synthetic Biology also raises ethical concerns regarding the
creation of synthetic organisms, antibiotic-resistant superbugs,
and gene editing technologies. Regulatory bodies are working to
establish policies and infrastructure to ensure biosafety,
biosecurity, and ethical considerations are addressed. Advancing
technology and healthcare issues, such as sickle cell anemia,
cystic fibrosis, and cancer, are driving the market forward.
Companies like Arbor Biotechnologies, DNA Script, Genome editing,
Bio-foundries, and SynBioBeta are leading the charge in this
rapidly evolving industry. Investments from strategic investors,
such as Casdin Capital, Sumitomo Chemical, SynBio Hub, and academic
research institutions, are fueling innovation and growth in the
Synthetic Biology Market. Market concentration is increasing, with
a few key players dominating the landscape. However, the potential
for creative biotechnology solutions and the continuous advancement
of technology ensure a bright future for this industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Healthcare
- Industrial
- Food And Agriculture
- Others
- Product
-
- Oligonucleotides
- Enzymes
- Cloning Technology Kits
- Xeno-nucleic Acids
- Chassis Organism
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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