Synthetic biology integrates various disciplines such as biophysics, molecular biology, biotechnology, & genetic engineering. Within this field, two prevalent approaches are used, i.e., the bottom-up & the top-down techniques. In the method of top-down, the modification & development of existing biological systems to obtain synthetic products, are involved. These products find applications in diverse sectors, such as healthcare,
pharmaceuticals, clinical developments, environmental, industrial, etc.
Market expansion is expected as a result of the increasing need for specific & particular healthcare solutions, protein therapies, & investigations into artificial vaccines and drugs. Throughout the forecast period, the synthetic biology industry's growth is projected to gain momentum because of various factors, like, the widened applications of artificial biology, heightened spending in synthetic biology, reduced costs in synthesis & DNA sequencing, the intensified research & development expenditures & initiatives.
Market Dynamic
The Global Synthetic Biology Market is expected to experience growth owing to heightened R&D efforts across numerous sectors. Companies are using synthetic biology techniques to improve efficiency & optimize the use of economic resources, including waste materials, to enhance traditional biofuel manufacturing.
Fashion companies like Modern Meadow, Bolt Threads, & Vitro Labs are utilizing biotechnological methods to create eco-friendly materials. Other factors that are influencing the market growth include amplified support from the government and private entities for R&D & drug discoveries, along with increased investments in proper laboratories. Reduced costs & partnerships along with collaborations are also propelling the growth.
The key biosafety concern in synthetic biology involves the accidental or intentional release of engineered organisms into the environment, whether for research purposes or other motives. Whenever these synthetic microorganisms are released into the surroundings, they have the potential to undergo mutations or interact with native species, resulting in hybridization & biological errors. These outcomes have the potential to jeopardize the natural habitats of wildlife. Moreover, the emergence of bacteria resistant to antibiotics presents a substantial threat to biosecurity.
Research Scope and Analysis
By Product
The product is categorized under six headings, i.e., Oligonucleotide/Oligo Pools and Synthetic DNA, Enzymes, Cloning Technologies Kits, Xeno-Nucleic Acids, Chassis Organism, and Synthetic Cells. Among these Oligonucleotides and synthetic DNA dominate the segment, commanding the maximum share in 2023. Oligonucleotides and synthetic DNA form the basic components in the domain of molecular biology.
These sectors are involved in major applications related to gene sequencing, and gene editing, including CRISPR Cas technology, and several other techniques involved in treatment & drug discoveries. Enhanced acceptance of DNA Computing & NGS technologies, propelling the market growth. For example, OligoMix revolutionizes genomics research with its specific & personalized solution. By enabling the synthesis of a wide range of oligonucleotide sequences in parallel, it allows researchers to make advanced discoveries in the field of genomics.
Furthermore, the enzymes domain is projected to experience the fastest growth. As these enzymes are utilized in biological reactions to catalyze the reaction to enhance the speed & specific product formation.
By Technology
Under the technology segmentation, it is further categorized into Polymerase Chain Reaction (PCR) Technology, Next Generation Sequencing (NSG) Technology, Genome Editing Technology, Bioprocessing Technology, and Others. Among these, the Polymerase Chain Reaction (PCR) sector leads the market with the maximum share in 2023, in terms of revenue.
This sector’s growth can be attributed to the enhanced growth in the sequencing & detection domain. In order to get the particular gene sequence & to create multiple copies in a short span of time, PCR dominates the segment and is also anticipated to grow further in the near future. Several types of PCR such as real-time, qPCR, RT-PCR, etc. have gained momentum in the recent past with the elevated increase, especially in RT-PCR due to the recent pandemic has further led this segment to foster the growth of the market during the forecast period (2023-2032).
Moreover, gene editing technology is further anticipated to grow rapidly in the forthcoming years due to the increased desire for genetically modified products, whether it is genetically modified plants or genetically modified species. In order to cater to the needs of particular & specific traits, such technologies have led the advancements in healthcare, and various other sectors.
By Applications
Under the segmentation of application, the healthcare segment stands at the top, holding a major share of the total revenue in 2023. This dominance is due to the enhanced awareness regarding early detection of diseases & effective treatments. Diagnosis labs growth and surge in increased usage of hospitals have led to the developments in this sector.
Increasing disorders related to neurology, and other infectious diseases such as HIV, have surged the advanced developments in the
healthcare sector. With the changed lifestyle and increased cases of mutations in genes, several techniques & therapeutics regarding early-stage diseases, such as cancer cell detections, etc. have developed which further propel this market’s growth.
Moreover, researchers around the world are engaged in research activities for further advancements & better drug delivery systems. Healthcare is the major sector that is in prime focus and hence such advancements are crucial wherein Synthetic Biology plays an important sector.
The Global Synthetic Biology Market Report is segmented on the basis of the following:
By Product
- Oligonucleotide/Oligo Pools and Synthetic DNA
- Enzymes
- Cloning Technologies Kits
- Xeno-Nucleic Acids
- Chassis Organism
- Synthetic Cells
By Technology
- Polymerase Chain Reaction (PCR) Technology
- Next Generation Sequencing (NSG) Technology
- Genome Editing Technology
- Bioprocessing Technology
- Others
By Application
- Industrial
- Food & Agriculture
- Environmental
Regional Analysis
The region of N
orth America leads the market with 43.2% of the total revenue share in 2023. This prominence can be accredited to the government’s supportive and encouraging rules & regulations with stringent policies, and the enhanced spending in private entities. The elevated research & development propelled this market in this region, especially in the field of drug discovery & drug screening, genome sequencing, proteomics, etc. The synthetic biologics market has gained momentum in recent years with the increasing concerns regarding health & food & security.
Moreover, the region of Asia-Pacific is projected to be the swiftest-growing one. This growth can be attributed to the growing investments in such a nation, with the increased FDI & huge spending shares in Research & development. The enhanced concerns regarding the production of drugs for several diseases & ill health have resulted in the development of laboratories, and incubation centers. To cater to the requirements of research developments have resulted in establishing research centers, national institutions, etc. Enhanced collaborations & partnerships are one of the factors behind the growth of this market in the Asia-Pacific region.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
Prominent industry participants are employing diverse tactics to enhance their profitability, such as forming partnerships, expanding into new geographical regions, executing mergers & acquisitions, and engaging in strategic collaborations. For example, Codexis, Inc. and Kalsec, Inc. disclosed the extension of their joint research efforts & entered into an exclusive supply arrangement for a novel enzyme, intended for the production of Kalsec’s latest natural hop acid, in July 2021.
Some of the prominent players in the Global Synthetic Biology Market are:
- Thermo Fisher Scientific, Inc.
- Merck KGaA
- Novozymes
- Agilent Technologies, Inc.
- Creative Enzymes
- Creative Biogene
- Codexis, Inc.
- Bota Biosciences Inc.
- Eurofins Scientific
- Pareto Bio, Inc.
- New England Biolabs
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Synthetic Biology Market:
The Global Synthetic Biology Market felt the dual impact of the COVID-19 pandemic & economic recession. Lockdowns, travel restrictions, & budget constraints hampered research and development activities, disrupting supply chains and delaying projects. Despite these challenges, the pandemic emphasized the significance of biotechnology, leading to increased investments in areas such as vaccine development & diagnostics, indirectly benefiting synthetic biology applications.
However, the economic recession resulted in budget cuts and reduced funding for research initiatives, affecting the market's growth. Some sectors within synthetic biology, especially, those related to healthcare & pharmaceuticals, experienced enhanced demand amid the crisis, partially offsetting the overall negative impact on the market.