What This Report Will Provide?

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.

Expected Revenue Growth:

[256 Pages Report] The synthetic biology market is projected to reach USD 19.8 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 23.9%.

Major Growth Boosters:

The growth of this market is primarily attributed to factors such as the increasing demand for synthetic genes & synthetic cells, wide range of applications of synthetic biology, declining cost of DNA sequencing & synthesizing, increasing R&D funding & initiatives in synthetic biology, and increasing investments in the market.

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Recent Developments

• In December 2019, Amyris, Inc. (US) launched the PURECANE Brand Sweetener.
• In December 2019, Cyrus Biotechnology Inc. (US) collaborated with the Broad Institute of MIT and Harvard to develop an optimized CRISPR gene-editing technology. This helped Cyrus to gain further commercial access for its Rosetta technology.
• In August 2019, Agilent Technologies, Inc. (US) acquired BioTek Instruments (US), a manufacturer of life science instrumentation, thereby expanding Agilent’s growing presence and expertise in cell analysis and also strengthening the company’s position in the large and growing immuno-oncology and immunotherapy areas.
• In June 2019, Novozymes A/S (Denmark) opened its Innovation Campus in Lyngby, Denmark, for research in biological solutions.
• In April 2019, Precigen, Inc., a wholly-owned subsidiary of Intrexon Corporation (US), opened a new manufacturing facility in Germantown, Maryland, for supporting the gene therapy manufacturing.

Critical questions the report answers:

• How will current technological trends affect the market in the long-term?
• What are the current growth trends in the market for the food & agriculture segment?
• What are the application areas of the market?
• Which regions are likely to grow at the highest CAGR?
• What are the growth strategies being implemented by major market players?

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Growth in pharmaceutical and biotechnology industries driven by government support

Pharmaceutical and biotechnology companies are the largest end users in the biologics safety testing market. Biologics safety testing is carried out at all levels of manufacturing to minimize the risk of product contamination in these industries. According to the International Trade Administration, the global pharmaceuticals market is projected to grow from USD 1 trillion in 2015 to USD 1.3 trillion by 2020, at a CAGR of 4.9%.

Regional Growth Analysis:

The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as growth in the number of pharmaceutical & biopharmaceutical companies, the increasing number of healthcare & life science facilities, and increasing requirements for regulatory compliance in pharmaceutical and biopharmaceutical companies, growing number of international alliances, heavy funding for synthetic biology research, and strong government support are expected to drive the growth of these markets during the forecast period.