SHERIDAN, WYOMING, UNITED STATES, July 14, 2022 /EINPresswire.com/ -- The latest research study “Synthetic Biology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global synthetic biology market reached a value of US$ 11.17 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 32.93 Billion by 2027, exhibiting a CAGR of 18.60% during 2022-2027.
Synthetic biology refers to a field of research that includes the fabrication and designing of new biological beings, such as genetic circuits, enzymes and cells or redesigning organisms for important motives by engineering them to have distinctive qualities. It integrates the chemical synthesis of deoxyribonucleic acid (DNA) with genomics to allow the researchers to produce cataloged DNA sequences and collect them into new genomes. It aids in enhancing the environment by devising original ways to diminish pollution, making industrial procedures for chemical synthesis viable, and eliminating the need for damaging farming practices by making enhanced fertilizers.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Synthetic Biology Market Trends and Drivers:
The primary factor driving the market is the refinement in the speed and cost of DNA synthesis, which has enabled scientists to design and synthesize modified bacterial chromosomes and bio-based specialty chemicals. Additionally, the rising investments in synthetic biology and its employment in the healthcare sector assist in upgrading diagnosis and developing finer treatment options for various diseases without causing any side effects is propelling the market growth. Besides this, the extensive usage of genetically engineered viruses to amend defective genes of patients with inherited diseases like epidermolysis bullosa or severe combined immune deficiency (SCID) is catalyzing the market growth. Furthermore, the tools for performing synthetic biology are becoming reachable and the accessibility of the internet allows ideas to be freely reciprocated, which is catalyzing the market growth. Moreover, the remarkable growth in the healthcare sector and the increasing number of synthetic biology research institutions worldwide are creating a positive market outlook.
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Global Synthetic Biology Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Agilent Technologies Inc., Amyris Inc., Codexis Inc., Danaher Corporation, Eurofins Scientific, GenScript Biotech Corporation, Illumina Inc., Merck KGaA, New England Biolabs, Synthego Corporation, Thermo Fisher Scientific Inc., Twist Bioscience and Viridos Inc.
The report has segmented the market on the basis of region, product, technology and application.
Breakup by Product:
• Oligonucleotide/Oligo Pools and Synthetic DNA
• Enzymes
• Cloning Technologies Kits
• Xeno-nucleic Acids
• Chassis Organism
Breakup by Technology:
• NGS Technology
• PCR Technology
• Genome Editing Technology
• Bioprocessing Technology
• Others
Breakup by Application:
• Healthcare
o Clinical
o Non-Clinical/Research
• Non-Healthcare
o Biotech Crops
o Specialty Chemicals
o Bio-Fuels
o Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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IMARC Services Private Limited
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