Synthetic Biology Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024

Synthetic biology is a combination of biology and biomedical engineering principles that favors designing and construction of novel biological parts & systems and also the reconstruction of preexisting designs according to specific application requirements. Synthetic biology is extensively used in the field of medical and pharmaceuticals to produce and manufacture improved biological drugs and systems to meet various challenges in the healthcare sector. Synthetic biology offers various opportunities in the field of healthcare such as recreating highly complex pathways, DNA sequences, and natural biological systems. In synthetic biology market, genetically modified organisms is the new approach for researchers. However, currently only one engineered gene has been developed, with increasing focus on creating clusters of genes. Also, due to the rising demand for vaccines in high income countries, synthetic biologists are more inclined towards research of various types of vaccines that can be used as prophylaxis. According to WHO, in in 2011, high income countries such as the U.S., Japan, and the U.K. contributed around 80% of global vaccine sales revenue, with these regions accounting for 20% volume share.

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Synthetic biology market taxonomy:

By Product Type

Synthetic DNA
Synthetic cells
Synthetic genes
Chassis organisms
Genetically modified organisms
Oligonucleotide Synthesis
By Tool

Xeno-nucleic Acids (XNA)
Cloning and Assembly kits
Oligonucleotides
Enzymes
By Technology

Enabling Technologies
Bioinformatics
Site-saturation Mutagenesis
Measurement and Modeling
Microfluidics
Cloning and Sequencing
Gene Synthesis
Genome Engineering
Nanotechnology
Enabled Technologies
Pathway Engineering
Next-generation Sequencing
By Application

Environmental Application
Bioremediation
Whole-cell Biosensors
Industrial Application
Biofuels and Renewable Energy
Industrial Enzymes
Biomaterials and Green Chemicals
Medical Application
Artificial Tissue and Tissue Regeneration
Pharmaceuticals
Drug Discovery and Therapeutics

Government funding supporting synthetic biology market growth:

Growing demand for synthetic biology products such as synthetic DNA, synthetic genes for treatment of diseases and for developing genetic modified products such as hybrid crop, genetically modified animals for enhancing the nutritional value of the food is also contributing towards the growth of the synthetic biology market. Also, various governments are investing in research and development of novel synthetic biology products. For instance, according to the report from U.S. Trends in Synthetic Biology Research at the Wilson Center, during the period of six years from 2008 to 2014, the U.S. invested around US$ 820 million in research for products in synthetic biology. Among different funding agencies, the defense department became a key funder of synthetic biology research dominating the funds by national science foundation. The above key fact also suggests that U.S. is expected to be a significant contributor in synthetic biology market.

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Regional analysis of synthetic biology market:

Developed countries such as the U.S., Germany, U.K., France, and Japan have mature markets for synthetic biology mainly due to large funding and favorable government regulation regarding the approval of synthetic biology products. According to genetic engineering & biotechnology news in 2010, the government of three European countries namely the Netherlands, U.K., and Germany invested around US$ 160 million in a span of five years between 2005 and 2010. Regulations such as Toxic Substances Control Act (TSCA) in 1997, cover commercial uses of new microorganisms not regulated by other agencies: primary rules covering industrial biotechnology. European Commission and research agencies have also increased their funding for research in synthetic biology. In emerging economies in Asia-Pacific, Middle East, and Africa, governments are focusing on tackling major issues such as under-nutrition by encouraging adoption of GMO crops. For example, Indian government is had put efforts in the past regarding in terms of intervention programs to combat malnutrition such as Integrated child development services and mid-day meal program This creates a highly conducive environment for market growth.

Major acquisitions to support the growth in synthetic biology market

There are few recent acquisitions by the big brands in biotechnology that is expected to favor the market for synthetic biology. QIAGEN N.V acquired OmicSoft—a software solutions company that offers scientists and researchers tools to efficiently analyze and visualize the data in bioinformatics. This acquisition is further expected to favor the working efficiency of the company. Key players operating in the synthetic biology market include DuPont, Amyris, Inc., GenScript USA Inc., Integrated DNA Technologies, Intrexon Corporation, New England Biolabs, Inc., Thermo Fisher Scientific, Inc., Synthetic Genomics, Inc., Royal DSM, and Novozymes.

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This release was published on openPR.