Synthetic biology is an emerging interdisciplinary field that aims to make the design, construction, and optimization of biological systems easier and more reliable.
Global synthetic biology market size is projected to reach USD 30.7 billion by 2026 from USD 9.5 billion in 2021, at a CAGR of 26.5% during the forecast period. The key factors driving the market growth are increasing application of synthetic biology, focus on growth initiatives and increasing R&D financing of synthetic biology.
Recent Developments
· In January 2021, Novozymes launched Frontia GlutenEx. It would help wheat processors increase their gluten protein recovery and, at the same time, cut down on energy consumption.
· In February 2021, Merck partnered with BioNTech (Germany) to supply lipids for the production of Pfizer-BioNTech COVID-19 Vaccine (BNT162b2).
· In January 2021, Merck acquired AmpTec (Germany). With this acquisition, the company strengthened its product portfolio to develop and manufacture mRNA for utilizing vaccines, treatments, and diagnostics.
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The oligonucleotides and synthetic DNA segment accounted for the largest share of the tool segment in the synthetic biology market.
oligonucleotides & synthetic DNA accounted for the largest share of the synthetic biology market for tools. This segments large share can be attributed to factors such as rising demand for synthetic DNA, synthetic RNA, and synthetic genes, which are used in a wide range of applications.
The medical applications segment accounted for the largest share of the application segment in the synthetic biology market
medical applications segment accounted for the largest share of synthetic biology market. Factors such as the extensive research on new and better treatments, coupled with the availability of huge private and public funding for the discovery of novel therapies, is the primary driver for the medical segment’s growth.
The Asia Pacific region is the fastest-growing region of the synthetic biology market
The Asia Pacific region is estimated to grow at the highest CAGR in the synthetic biology market during the forecast period, this is mainly due to factors such the growing collaborations in the field of synthetic biology, growing partnerships in the Chinese market, and investments in Asia Pacific countries for research.
Key Market Players
Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc (US), Novozymes A/S (Denmark), Ginkgo Bioworks (US), Amyris (US), Precigen, Inc. (US), GenScript (China), Twist Bioscience (US), Synthetic Genomics (US), Codexis (US), Synthego (US), Creative Enzymes (US), and Eurofins Scientific (Luxembourg).
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Thermo Fisher Scientific (US) held the leading position in the synthetic biology market in 2020. The company offers synthetic biology products, which include DNA fragments, software, engineering kits, DNA oligos, and clones.
