Synthetic Biology Market Size, Share & Trends Analysis Report By Product (Enzymes, Cloning Technologies Kits), By Technology (PCR, NGS), By Application (Non-Healthcare, Healthcare), By End Use, And Segment Forecasts, 2021 - 2027

Synthetic Biology Market Growth & Trends

The global synthetic biology market size is estimated to reach USD 31.97 billion by 2027, registering a CAGR of 20.8% over the forecast period, according to a new report by Grand View Research, Inc. Extensive applications of synthetic biology in multiple fields is a major impact rendering driver of the market. For instance, the technique is used for the development of biofuel from microorganisms in the bioenergy field.

Several market participants have produced materials and textiles with the use of synthetic biology. Bolt Threads, a material developing company that produced engineered spider silk ties, and Colorifix are developing dyes with biological systems. In addition, the market has provided the agriculture industry with alternative fertilizer options, which are not harmful. For instance, Pivot Bio, a California-based company, has established a technique of fertilizing crops without relying on a harmful polluting chemical process.

Extending clinical applications of synthetic biology, the potential of the technique to accelerate drug development, and enhancing market competition are some key aspects driving the industry. The COVID-19 pandemic is set to drive applications and investments in this space. For instance, in January 2021, FDA approved Phase III trials of carrimycin—ā synthetic biological drug treatment for COVID-19. This drug includes anti-inflammatory, antiviral, anti-fibrosis, as well as antibacterial effects.

Synthetic Biology Market Report Highlights

• Oligonucleotide/oligo pools and synthetic DNA held the dominant share in the product segment owing to the increased application scope of the product in the research field
• The enzymes product segment is expected to witness the second-fastest CAGR over the forecast years owing to the growing application of enzymes in biofuel, textile industry, and molecular biology applications
• Healthcare application is the largest revenue-generating as well as the fastest-growing application segment due to a rise in the application of synthetic biology in research, diagnostics, and other clinical fields
• The biotechnology & pharmaceutical companies end-use segment led the market in 2020 due to heavy investments to enhance R&D activities for the production of vaccines and other drugs
• PCR was the largest revenue-generating technology segment in 2020. With the accelerated development of modern life science, PCR technology has been widely applied to different biological, medical research, virus detection, and the food industry
• The availability of advanced research facilities, increased investments in private companies, favorable regulations, and government assistance & funding have contributed to the dominance of the North America regional market in 2020
• For Instance, in September 2020, a U.S.-based startup, Zymergen Inc., received USD 300 million in funding from Baillie Gifford & Co. to increase the R&D activities in synthetic biology
• The key operating players are focusing on exploring synthetic biology to its highest potential across different emerging applications
• For instance, in April 2020, Barcelona-based Luis Serrano and Maria Lluch received USD 2.35 million of seed financing from Barcelona-based Invivo Ventures to develop novel treatments for lung infections

Profiled Companies

Bota Biosciences Inc.
Codexis, Inc.
Creative Biogene.
Creative Enzymes.
Enbiotix, Inc.
Eurofins Scientific
Illumina, Inc.
Merck Kgaa.
New England Biolabs.
Novozymes
Pareto Bio, Inc.
Scarab Genomics, Llc
Synthego
Synthetic Genomics Inc.
Thermo Fisher Scientific, Inc.

Please note The report will be delivered in 2-3 business days upon order notification.