DUBLIN, Sept. 28, 2022 /PRNewswire/ --The "Synthetic Biology Market Size, Share, Trends, By Technology, By Tools, By Application, By End-use, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
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According to a new report, the Synthetic Biology Market size was valued at USD 9.26 Billion in 2021 and is estimated to exceed USD 75.9 Billion in terms of revenue, at a CAGR of 26.3% through 2030. Synthetic biology is an emerging field of science that deals with the design and construction of artificial biological systems for various applications. The market for synthetic biology is expected to grow at a rapid pace owing to the increasing demand for synthetic genes, proteins, and other biomolecules in the pharmaceutical and biotechnology industries.
Products produced by synthetic biology are used in pharmaceutical and biotechnology research, as well as industrial applications. Increasing government funding for synthetic biology research and the ever-expanding application areas of synthetic biology are the major drivers of this market.
Synthetic biology has a potential in DNA sequencing, genetic engineering, and other biotechnology applications. It is anticipated that the demand for synthetic biology will rise in the pharmaceutical and biotech industries for the development of new therapeutic proteins and designer microbes.
Increased amount of study data generation with dipping prices of DNA sequencing, rise in government funding and initiatives, and need for efficient disease management are the prominent drivers of the synthetic biology market. In addition, new applications in healthcare and pharmaceutical industry is another significant factor that is anticipated to fuel the growth of this market during the forecast period.
Market Dynamics
Market Drivers
Rapid Technological Advancements in the Field of Synthetic Biology
Diverse Range of Synthetic Biology-Based Applications Leading to Widespread Adoption in the Biotechnology and Pharmaceutical Industries
Rising Investments Toward Research & Development (R&D) Activities for Synthetic Biology-Based Research
Story continues
Market Restraints
Potential Biosafety, Biosecurity, and Ethical Issues Related to the Unintended or Deliberate Misuse of Synthetic Biology Techniques
Stringent Government Regulations & Guidelines
Market Segmentation
Technology Outlook (Revenue, USD Billion; 2019-2030)
Tools Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
Medical & Healthcare Application
Artificial Tissue & Tissue Regeneration
Environment & Agriculture
Bioprocess Industry
End-use Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
BENELUX
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of MEA
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Synthetic Biology Market Segmentation & Impact Analysis
Chapter 5. Synthetic Biology Market By Technology Insights & Trends
Chapter 6. Synthetic Biology Market By Tools Insights & Trends
Chapter 7. Synthetic Biology Market By Application Insights & Trends
Chapter 8. Synthetic Biology Market By End-use Insights & Trends
Chapter 9. Synthetic Biology Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Companies Mentioned
Amyris Inc.
Ginkgo Bioworks
Codexis Inc.
Novozymes AG
Twist Biosciences
GenScrip Corporation.
Merck KGaD
Codex DNA Inc.
Eurofins Scientific Inc.
Amgen Inc.
For more information about this report visit https://www.researchandmarkets.com/r/vkyme3
Media Contact:
Research and MarketsLaura Wood, Senior Managerpress@researchandmarkets.com
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