Synthetic Biology Market to record rapid growth with a CAGR of 25.4% during the forecast period, Technological Advancements and Growth Opportunities

Pune, Jan. 23, 2023 (GLOBE NEWSWIRE) — Maximize Market research, a healthcare business research firm has published a report on the “Synthetic Biology Market”. The market report is a combination of both primary data and secondary data. The total market opportunity for Synthetic Biology was USD 9.3 Bn in 2021 and is expected to grow at 25.4 percent CAGR through the forecast period by reaching nearly USD 56.87 Bn. As per the report, the North America region held the largest market share of around 40 percent in the year 2021.

Synthetic Biology Market Report Scope and Research Methodology

The Synthetic Biology Market report provides a detailed analysis of the market. It provides market size and Compound Annual Growth Rate for the forecast period (2021-2029), considering 2021 as the base year. Key insights about market drivers, major restraints, investment opportunities, regional outlook, market trends and competitive strategies adopted by major players are included in the report which makes it an investor’s guide.

For the competitive analysis, the report includes profiles of the leading players in the Synthetic Biology Market including company overview, market presence, financial performance, product portfolio, major developments and strategies. It also includes information on mergers and acquisitions, collaboration and agreements in the market.

For research, the Synthetic Biology Market was divided into three major segments: route of application, application and facility of use. These major segments of the market were further divided into various sub-segments. The main objective of the report is to forecast the size of market segments in North America, Europe, Asia Pacific, South America and the Middle East and Africa. The market size of individual segments was determined through many secondary sources which include industry associations, journals and white papers.

The research methodology used to estimate and forecast the Synthetic Biology Market size began with capturing data on market players’ revenues. The bottom-up approach was used to estimate and validate the Synthetic Biology Market size in terms of value and volume by different segments. Both primary and secondary research methods were used to collect the data for the market report. SWOT analysis was employed to provide the strengths and weaknesses of the market and key players in the industry. PORTER, PESTLE analysis was employed to understand the potential impact of micro-economic and macro-economic factors on the global market.

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Synthetic Biology Overview

Synthetic Biology is a field of science, which is a combination of biology and different branches of engineering such as mechanical, electrical, mathematical and computer that design and create new biological systems to perform functions that are not found in nature. Synthetic biology is majorly used in the healthcare industry because it helps to improve diagnostics and offer better treatment options for various diseases.

Synthetic Biology Market Dynamics

The increased funding for research and development in pharmaceutical firms to discover new medicines is expected to drive market growth during the forecast period. The major factors that are expected to accelerate the market growth are increasing synthetic biology applications, lower DNA sequencing and synthesizing costs and increasing investment and R&D expenditure. The increasing use of synthetic biology techniques in renewable energy development is expected to create growth opportunities for the market during the forecast period.

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Synthetic Biology Market Regional Insights

The North America region held the largest market share of around 40 percent in the year 2021. This market growth in the region is a result of increased investment in the development of synthetic biological products, government backing and favorable laws. The Asia Pacific region is expected to grow at a high CAGR during the forecast period due to the increasing collaborations in the field of synthetic biology and the growing number of biopharmaceutical and pharmaceutical companies.

Synthetic Biology Market Segmentation

By Tool

• Oligonucleotides and Synthetic DNA
• Enzymes
• Cloning Technologies Kits
• Synthetic Cells
• Chassis Organisms
• Xeno-nucleic Acids

By Technology

• Gene Synthesis
• Genome Engineering
• Sequencing
• Bioinformatics
• Site-directed Mutagenesis
• Cloning
• Measurement and Modeling
• Microfluidics
• Nanotechnology

By Application

• Pharmaceuticals & Drug Discovery
• Artificial Tissue and Tissue Regeneration
• Industrial
• Food & Agriculture
• Environmental

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Synthetic Biology Market Key Competitors include:

• Thermo Fisher Scientific(US)

• Merck KGaA (Germany)
• Agilent Technologies, Inc.(US)
• Novozymes A/S(Denmark)
• Ginkgo Bioworks(US)
• Amyris(US)
• Precigen(US)
• GenScript Biotech Corporation(US)
• Twist Bioscience(US)
• Synthetic Genomics(US)
• Codexis(US)
• Synthego(US)
• Creative Enzymes(US)
• Eurofins Scientific(Luxembourg)
• Cyrus Biotechnology(US)
• ATUM(US)
• TeselaGen(US)
• Arzeda(US)
• Integrated DNA Technologies(US)
• New England Biolabs(US)
• Royal DSM(Netherlands)
• OriGene Technologies(US)
• Genomatica(US)
• Illumina(US)
• Scarab Genomics(US)

Key questions answered in the Synthetic Biology Market are:

• What is Synthetic Biology?
• What are the global trends in the Synthetic Biology Market?
• What are the upcoming industry applications and trends for the Synthetic Biology Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for Synthetic Biology Market?
• How is the intervention from regulatory authority is shaping the Synthetic Biology Market?
• What growth strategies are the players considering to increase their presence in Synthetic Biology Market?
• Who are the leading companies and what are their portfolios in Synthetic Biology Market?
• What are the major challenges that the Synthetic Biology Market could face in the future?
• Who held the largest market share in Synthetic Biology Market?

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Key Offerings:

• Market Share, Size & Forecast by Revenue | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
• Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading Healthcare research firm, has also published the following reports:

Microbial Therapeutic Products Market – The market size is expected to reach USD 28.1 billion by 2027 at a CAGR of 8 percent during the forecast period. The market is expected to be driven by mechanical progression in sickness diagnostics and an expanded monetary portion for natural medication advancement.

Specimen Transport Bags Market – The market size is expected to reach USD 470.85 million by 2029 at a CAGR of 9.8 percent during the forecast period. The market is expected to be driven by rising urbanization and industrialization and high demand from hospitals.

Gene Synthesis Market – The market size is expected to reach USD 3.70 billion by 2029 at a CAGR of 11 percent during the forecast period. The market is expected to be driven by increasing government funding for genomics and increasing demand for customized treatment.

Prokaryotic Expression Systems Market – The market size is expected to reach USD 811.73 million by 2029 at a CAGR of 13.5 percent during the forecast period. The market is expected to be driven by increasing demand for protein application in therapeutics for human treatment and a surging geriatric population with growing chronic diseases.

Biodefense Market – The market size is expected to reach USD 21.67 billion by 2029 at a CAGR of 6 percent during the forecast period. The market is expected to be driven by increasing government expenditure in developed nations and rapid technological developments.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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