Global Synthetic biology market is estimated to account for US$ 56,044.9 Mn of 2025 | Aarkstore
In 2017, gene synthesis held the
largest market share among the technologies. On the basis of application, global
synthetic biology market is segmented into industrial applications, food
and agriculture, medical applications, environmental applications, and others.
On the basis of product, the market
is segmented into enzymes, oligonucleotides, chassis organisms and xeno-nucleic
acids. Enzymes acquired the largest market due to increasing applications of
enzymes in industries, medical, food and agriculture.
Additionally, enzymes are produced
from the microbial sources that are used for industrial and commercial use On
the basis of technology, the market is segmented into gene synthesis, genome
engineering, measurement and modeling, cloning and sequencing, nanotechnology,
and others.
The synthetic biology market is
estimated to account for US$ 56,044.9 Mn by the end of 2025, escalating at a
CAGR of 28.2% during the forecast period from 2018 to 2025, rising from US$
8,244.8 Mn in 2017.
Increasing number of synthetic
biology startup companies in developed regions such as, North America and
Europe, and growing awareness about wide range of applications of synthetic
biology are the major factors contributing to the growth of the market.
Additionally, the growth is also governed by new product launches,
partnerships, product approvals and collaborations by key players in the
market. Additionally, the industry has attracted investments from various
global leaders. For instance, synthetic biology company Zymergen has have
received US$44 million funds in the year 2015, from investors such as Transcript,
AME Cloud Ventures, Data Collective, Draper Fisher Jurvetson, HVF, Innovation
Endeavors, Obvious ventures, True Ventures and Two Sigma Ventures. In addition,
in the year 2016, Zymergen has raised US$130 million in Series B funding which
was led by SoftBank Group.
North America is the largest market
for synthetic biology across the globe whose growth in mainly driven by
increasing focus on synthetic biology technologies such as gene synthesis and
genome editing. Additionally, growing investments by the major companies and
technological advancements in the field of genomics, and higher acceptance by
the consumers also contribute to the growth of the market in North America.
While, Asia Pacific is expected to exhibit fastest growth with China being the
largest market followed by Japan and India. In China, the growth of the market
is attributed to an increasing number of initiatives in synthetic biology such
as launch of synthetic biology association and rising awareness about genome
engineering and research and development.
The market for synthetic biology
consists of well-recognized organizations as well as emerging companies namely;
ThermoFisher Scientific Inc., Merck KGaA, Novozymes, Agilent Technologies,
Amyris, GenScript, Integrated DNA Technologies, Inc., Twist Bioscience, New
England Biolabs, Synthetic Genomics Inc. and others.
Related
Reports:
Global
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