Global Synthetic Biology Market Overview And Prospects
Learn about the global synthetic biology market through The Business Research Company, which provides information on synthetic biology market size, synthetic biology market drivers and restraints, synthetic biology market players, the COVID-19 impact on the synthetic biology market, and more.
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The global synthetic biology market is expected to grow from $8.64 billion in 2020 to $10.07 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The synthetic biology market is expected to reach $28.91 billion in 2025 at a CAGR of 30.2%.
The availability of the DNA sequencing technique at low cost is expected to drive innovation in synthetic biology manufacturing, thus driving the market during the forecast period.
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The synthetic biology market consists of sales of synthetic compound, technology and related services. Synthetic biology is a field of biology science which involve engineering principles.
Global synthetic biology market segments include:
By Technology: Nucleotide Synthesis And Sequencing, Bioinformatics, Microfluidics, Genetic Engineering
By Application: Pharmaceuticals And Diagnostics, Chemicals, Biofuels, Bioplastics, Others
By Product Type: Oligonucleotides, Enzymes, Cloning And Assembly Kits, Xeno-Nucleic Acids (XNA), Chassis Organism
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
The new technological advances in the field of DNA sequencing have enabled the researchers to use DNA to store non-genetic information. With the rise in the demand to store quantum of data, DNA data storage offers a solution where one DNA strand can store about 455 Exabyte of data (455 billion gigabytes). Thus, the concept has received huge investments from the entities in the market. The binary data (data coded in 0O and 1) is converted into DNA strings of four potential base units of unique sequences of A, G, C, T (DNA is made up of four base components: Adenine, Guanine, Cytosine, and Thymine (known as AGCT)). The information coded in DNA lasts for thousands of years when compared to the data in traditional hard drives which gets corrupted or damaged within 30 years.
TBRC’s synthetic biology market report covers:
Major Market Players: Thermo Fischer Scientific, Genscript, Integrated DNA Technologies, Amyris and Twist Bioscience Corporation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Synthetic Biology Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides synthetic biology market overviews, analyzes and forecasts market size, share, synthetic biology market players, synthetic biology market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s synthetic biology market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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