Dublin, Dec. 12, 2024 (GLOBE NEWSWIRE) — The “Synthetic Biology Market by Tools (Oligonucleotides, Enzymes, Synthetic Cells), Technology (Sequencing, Bioinformatics), Applications (Drug Discovery, Tissue Regeneration, Biofuel, Food, Agriculture, Consumer Care, Environmental) – Global Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
The global synthetic biology market is projected to surpass USD 31.52 billion in 2029 from USD 12.33 billion in 2024, with a significant CAGR of 20.6%.
The excessive demand for bio-based products is providing momentum to the market growth. Furthermore, rising investment by key market players and increasing funding in R&D & collaborations in the synthetic biology market to meet the needs of both local and international markets is further driving the market growth.
The development of CRISPR and other gene-editing technologies opened new avenues for the synthetic biology sector. These advanced technologies enable precise gene modifications, accelerating advancements in therapeutic applications and agriculture fueling the growth of the synthetic biology market.
The oligonucleotide & synthetic DNA synthetic biology segment accounted for the highest share in 2023
On the basis of tools, the synthetic biology market is further segmented into xeno nucleic acids, enzymes, chassis organisms, cloning technology kits, oligonucleotides and synthetic DNA, and synthetic cells. The oligonucleotides and synthetic DNA dominated the market and anticipated to grow at a significant CAGR during the forecast period. Rise in the use of oligonucleotides and synthetic DNA in environmental, food, and industrial sectors, expansion of synthetic biology companies in in areas such as agriculture, energy, and industrial biotechnology are some of the major factors driving the segmental growth.
By applications, medical applications segment accounted for the largest share in the synthetic biology market
The applications segment in the synthetic biology market is segmented into medical applications, industrial applications, food, animal health & agricultural applications and environmental applications. The medical applications segment dominated the market share owing to the increasing prevalence of chronic diseases and genetic disorders which is driving demand for innovative medical solutions. Furthermore, with advancements in gene editing and synthetic microbes, researchers can develop targeted therapies, personalized medicine, and even engineered vaccines.
North America: the largest share of the synthetic biology market
By region, the market is segment into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominated the synthetic biology market in 2023 and is estimated to continue dominance during the forecast period. Presence of dominant market players in pharmaceutical and biotechnological companies in the region, strong base of synthetic biology manufacturers such as Thermo Fisher Scientific Inc. and Agilent Technologies Inc. are some of the prominent factors acerating market growth.
Research Coverage
This research report categorizes the synthetic biology market by tools (oligonucleotides & synthetic DNA, enzymes, cloning technology kits, chassis organisms, xeno nucleic acids and synthetic cells), technologies (measurement and modeling, genome engineering, gene synthesis, cloning, site-directed mutagenesis, microfluidics, sequencing, nanotechnology and bioinformatics), applications (medical applications, industrial applications, food, animal health & agricultural applications and environmental applications), and regions (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the synthetic biology market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products, solutions, key strategies, collaborations, partnerships, and agreements. New launches, collaborations and acquisitions, and recent developments associated with the synthetic biology market.
Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), Novozymes A/S (Denmark), Agilent Technologies Inc. (US), Eurofins Scientific (Luxembourg), Amyris, Inc. (US), Twist Bioscience (US), Codexis, Inc. (US), Genscript (US), Ginkgo Bioworks (US), Precigen (US), Creative Enzymes (US), Synthego (US), Viridos (US), and Cyrus Biotechnology (US) are some of the major players operating in the synthetic biology market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 537 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $12.33 Billion |
| Forecasted Market Value (USD) by 2029 | $31.52 Billion |
| Compound Annual Growth Rate | 20.6% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Diverse Applications of Synthetic Biology
- Surging Demand for Bio-based Products
- Advancements in Synthetic Biology
- Increasing Funding in R&D and Collaborations
- Restraints
- Production Scalability
- Ethical and Regulatory Challenges
- Opportunities
- Rising Opportunities for Agricultural Synthetic Biology
- Growing Integration of Artificial Intelligence and Machine Learning
- Challenges
Additional Insights Covered
- Trends/Disruptions Impacting Customer Business
- Value Chain Analysis
- Ecosystem Analysis
- Technology Analysis
- Patent Analysis
- Pricing Analysis
- Key Conferences & Events, 2024-2025
- Regulatory Landscape
- Investment & Funding Scenario
- Key Stakeholders & Buying Criteria
- Impact of AI on Synthetic Biology Market
Companies Profiled in the Report
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Novozymes A/S
- Eurofins Scientific
- Agilent Technologies Inc.
- Amyris, Inc.
- Codexis, Inc.
- Twist Bioscience
- Genscript
- Precigen
- Ginkgo Bioworks
- Viridos
- Synthego
- Creative Enzymes
- Cyrus Biotechnology
- Atum
- Teselagen
- Arzeda
- Integrated DNA Technologies, Inc.
- New England Biolabs
- Elevatebio
- Zenfold (Iosynth)
- Synbio Technologies
- Inscripta, Inc.
- Crispr Therapeutics
For more information about this report visit https://www.researchandmarkets.com/r/m5javn
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