The Global Synthetic Biology Market is estimated to grow at a CAGR of 24.2% during the forecast period 2020-2025. As per the analysis, the Global Synthetic Biology Market valued $6.8 billion in the year 2020 and estimated to reach $20.1 billion by the end of the year 2025.

Synthetic biology act as an alternative to traditional petrochemical synthesis with major applications in consumer product, chemicals, beauty and personal care and agri-food products. The synthetic biology offers flexible production, cheaper production, novel products, environmental benefits and marketing benefits. It works well when in case of naturally occurring products as it needed less gene development to manufacture the desired chemical.

The Global Synthetic Biology Market is driven by various growth factors that include:

Increasing investments by government and private players in synthetic biology

Increasing R&D funding & initiatives in synthetic biology

Declining cost of DNA sequencing & synthesizing

Wide range applications of synthetic biology

Growth in demand for synthetic cells and synthetic genes

Segmentation Overview

The global synthetic biology market is segmented on the basis of tool, technology and application. These market segments are categorized into various sub-segments to study the market in detail.

The Tool Segment of the Global Synthetic Biology Market is Sub-Segmented into:

Oligonucleotides and Synthetic DNA

Xeno-nucleic Acids

Chassis Organisms

Enzymes

Synthetic Cells

Cloning Technologies Kits

The Technology Segment of the Global Synthetic Biology Market is Sub-Segmented into:

Sequencing

Nanotechnology

Microfluidics

Measurement and Modelling

Site-directed Mutagenesis

Bioinformatics

Cloning

Genome Engineering

Gene Synthesis

The Application Segment of the Global Synthetic Biology Market is Sub-Segmented into:

Pharmaceuticals

Medical Application

Drug Discovery and Therapeutics

Cancer Detection & Diagnostics

Other Drug Discovery and Therapeutic Applications

Artificial Tissue and Tissue Regeneration

Stem Cell Regulation

Bio-synthesis

Other Tissue and Tissue Regeneration Applications

Biomaterials and Green Chemicals

Biofuel and Renewable Energy

Industrial Applications

Industrial Enzymes, by Application

Paper Industry

Textile Industry

Other Industries

Biosensing

Bioremediation

Environmental Applications

Food & Agriculture

However, the current capabilities of synthetic biology pose challenges when manufacturing a non-naturally occurring chemical that needed extensive genetic modification.

On the basis of geographical segmentation, the global synthetic biology market was studied across North America (U.S., Canada); Europe (Germany, UK, France); Asia Pacific (China, India, Japan); Latin America (Brazil, Mexico); Middle East & Africa. As per the analysis, the Asia-Pacific synthetic biology market is estimated to grow at the highest CAGR during the forecast period 2020-2025. The regional growth is attributed to growth in the number of pharmaceutical & biopharmaceutical companies, strong government support, heavy funding for synthetic biology research, increasing number of international alliances, increasing requirements for regulatory compliance in pharmaceutical and biopharmaceutical companies and increasing number of healthcare & life science facilities in the region.

The research study on the global synthetic biology market include detailed study of company profiles. Some of the major companies included in the research report of synthetic biology market are:

New England Biolabs (US)

Integrated DNA Technologies, Inc. (US)

Arzeda (US)

TeselaGen (US)

ATUM (US)

Cyrus Biotechnology Inc. (US)

Eurofins Scientific (Luxembourg)

Creative Enzymes (US)

Synthego Corporation (US)

Codexis, Inc. (US)

Synthetic Genomics, Inc. (US)

Twist Bioscience (US)

GenScript Biotech Corporation (China)

Intrexon Corporation (US)

Amyris, Inc. (US)

Ginkgo Bioworks (US)

Novozymes A/S (Denmark)

Agilent Technologies, Inc. (US)

Merck KGaA (Germany)

Thermo Fisher Scientific Inc. (US)

Others

The key players present in the market are adopting various competitive strategies to withhold the market share for the long-term. Some of the competitive strategies are business expansions, mergers and acquisitions, partnerships, collaborations and many more. For instance:

On December 2019, Amyris launched PURECANE Brand Sweetener for health-conscious consumers. The company majorly deals in production and development of sustainable ingredients for the Flavours & Fragrances, Clean Beauty and Health & Beauty Industry.

On December 2019, Cyrus Biotechnology collaborated with Harvard and MIT to optimize CRISPR in developing human therapeutics.

On June 2019, Novozymes opened its new campus in Lyngby, Copenhagen. The company’s new business expansion is with the focus to create a global hub for biotech research.