According to a new report by Reports and Data, thesynthetic biology examplesMarketsize was valued at USD 9.26 Billion in 2021 and is estimated to exceed USD 75.9 Billion in terms of revenue, at a CAGR of 26.3% through 2030. The market growth is driven by declining cost of DNA sequencing and synthesizing coupled with increasing RD investment in drug discovery.
Products produced bysynthetic biology examplesare used across several applications, including energy, bioplastics environment, and pharmaceutical diagnostics.synthetic biology examplesis mainly known for the usage of molecular biology along with standard industrial fermentation for the production of renewable, sustainable, algal oils that would reduce the pressure on the ecosystem due to habitat damage and deforestation.
synthetic biology exampleshas a potential in DNA sequencing research and there is an expectation of improvement of bio-based chemicals, development of food crops and sources of green energy with the technology.
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Some Key Factors Contributing to the Global Pharma Healthcare Market Growth
Unprecedented revenue growth of the global pharma healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options especially in developing countries like India and China rise in RD activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Further key findings from the report suggest
- The penetration rate is high due to its widespread use in RD and commercialization than any other product segments.
- Based on product type, the synthetic oligos segment is expected to deliver a CAGR of 26.3% through 2030. The method is most preferred in modern laboratory practice as it offers accelerated and reasonable access to custom-made oligonucleotides of the desired sequence.
- The synthetic DNA product segment is expected to observe a CAGR of 19.0% during the forecast period.
- Based on technology, the genome engineering segment accounted for 22.6% of the globalsynthetic biology examplesmarket share in 2020 and is expected to gain major traction through 2030. Advancements in DNA synthesis technologies, CRISPR-toolbox, the ongoing research activities, and growing need for cost-effective, rapid, multiplex alteration of genomes, are the key factors driving segmental growth.
- Based on application, the healthcare segment is expected to observe notable growth during the forecast period. Some of the possible application ofsynthetic biology examplesin health and food include regenerative medicine, reprogramming of stem cells, new therapeutic methods, and efficient production of nutraceuticals like food supplements, preservatives, and vitamins.
- The pharmaceuticals and diagnostics segment is forecast to showcase at a CAGR of 26.3% during the forecast period.
- In the regional landscape, Europe accounted for 28.2% of the market share in 2020 and is estimated to make significant revenue contributions through 2030.
- North America accounted for 32.3% of the market share in 2020 and is expected to gain major traction owing to presence of key industry players, growing chronic diseases, and favorable reimbursement policies by the regional government.
Top Players in the Globalsynthetic biology examplesMarket:
Merck KGaA, Thermo Fisher, Novozymes, Eurofins Scientific, Inc., DNA2.0, Intrexon, Amyris, Pareto Biotechnologies, Agilent Technologies, GenScript, Ginkgo Bioworks, Synthetic Genomics, Integrated DNA Technologies, TeselaGen, Twist Bioscience, and New England Biolabs, among others.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma healthcare industry revenue growth over the recent past.
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synthetic biology examplesMarket Segmentation:
Technology Outlook (Revenue, USD Billion; 20192030)
- Nucleotide synthesis and sequencing
- Genome engineering
- Integrated systems
- Microfluidics
- Functional genomics
Tools Outlook (Revenue, USD Billion; 20192030)
- Synthetic DNA and Oligonucleotides
- Enzymes
- Synthetic Cells
- Chassis Organisms
- Xeno-nucleic Acids
Application Outlook (Revenue, USD Billion; 20192030)
- Medical Healthcare Application
- Artificial Tissue Tissue Regeneration
- Environment Agriculture
- Bioprocess Industry
End-use Outlook (Revenue, USD Billion; 20192030)
- Biotechnology Pharmaceutical Companies
- Academic Government Research Institutions
- Others
Globalsynthetic biology examplesMarket Report:Regional Segmentation
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the globalsynthetic biology examplesmarket over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the globalsynthetic biology examplesmarket?
- Which regional market is expected to lead in terms of revenue share in the globalsynthetic biology examplesmarket over the forecast years?
- What are the key outcomes of SWOT analysis and Porters Five Forces analysis of the market?
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