Increasing R&D investments in drug discovery and reduced cost of DNA sequencing and synthesizing are the major factors influencing industry growth.
According to a new report by Reports and Data, the Synthetic Biology Market size was valued at USD 6,782.3 Million in 2020 and is estimated to exceed USD 34.27 Million in terms of revenue, at a CAGR of 18.9% through 2028. The market growth is driven by declining cost of DNA sequencing and synthesizing coupled with increasing R&D investment in drug discovery.
Products produced by synthetic biology are used across several applications, including energy, bioplastics & environment, and pharmaceutical & diagnostics. Synthetic biology is mainly known for the usage of molecular biology along with standard industrial fermentation for the production of renewable, sustainable, algal oils that would reduce the pressure on the ecosystem due to habitat damage and deforestation.
Synthetic biology has a potential in DNA sequencing research and there is an expectation of improvement of bio-based chemicals, development of food crops and sources of green energy with the technology.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Merck KGaA, Thermo Fisher, Novozymes, Eurofins Scientific, Inc., DNA2.0, Intrexon, Amyris, Pareto Biotechnologies, Agilent Technologies, GenScript, Ginkgo Bioworks, Synthetic Genomics, Integrated DNA Technologies, TeselaGen, Twist Bioscience, and New England Biolabs, among others.
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The Synthetic Biology market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
By Product Outlook (Revenue, USD Billion; 2020-2028)
- Synthetic oligos
- Synthetic DNA
- Synthetic genes
- Software tools
- Chassis organisms
- Synthetic clones
- Synthetic cells
By Technology Outlook (Revenue, USD Billion; 2020-2028)
- Gene synthesis
- DNA Sequencing
- Genome Engineering
- Biological Components
- Integrated Systems
Application Outlook (Revenue, USD Billion; 2020-2028)
- Pharmaceuticals and diagnostics
Key Regions Analyzed in the Report include:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Furthermore, it consists information about individual segment of the Synthetic Biology market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Key Benefits of the Report:
- Comprehensive overview of the changing dynamics of competitive landscape
- Detail oriented futuristic prospects of factors driving and restraining growth of the market
- Valuable insights on key market growth driving trends and monetary competence in the forecast period
- Strategic recommendations to key players and new entrants to overcome barriers and challenges in the market
- Revenue forecasts for the period of 2028
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