Synthetic Biology Market Analysis

Global Synthetic biology Market Overview

The Synthetic biology Market Size was valued at USD 11.8 Billion in 2022 and is projected to grow from USD 14.8 Billion in 2023 to USD 93.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.90% during the forecast period (2023 - 2032). Increasing demand for bio-based products, advancements in DNA sequencing and gene synthesis technologies, decreasing costs of DNA synthesis, growing applications in healthcare and medicine, supportive government initiatives and funding, increasing collaboration between academic and industrial sectors, environmental concerns and sustainability, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Synthetic biology Market Trends

• Increasing demand for bio-based products is driving the market growth

The market for synthetic biology is being significantly fueled by the rising need for bio-based products, which is helping it expand and prosper. This demand is driven by a number of sectors, including consumer goods, agriculture, chemicals, pharmaceuticals, and energy. Concerns about sustainability, legal restrictions, and the need for cutting-edge, environmentally friendly substitutes are just a few of the causes influencing the shift to bio-based products.

The advantage of using bio-based products is that they have the potential to lessen reliance on finite resources and reduce environmental impact. Traditional industrial techniques frequently rely on fossil fuels and generate waste and harmful emissions. On the other side, bio-based products come from sources that are sustainable to cultivate or develop, like plants, microbes, and algae. Synthetic biology enables the creation of biofuels, bioplastics, bio-based chemicals, and other products with a lower carbon footprint and lower greenhouse gas emissions by exploiting these natural resources. Furthermore, legislative mandates and policies intended to cut pollution and advance sustainability are what are fueling the rising demand for products made from bio-based materials. Governments all around the world are putting policies in place to encourage the use of renewable resources and lessen the negative effects of industries on the environment. Regulations on single-use plastics and carbon emissions, for instance, are encouraging the development of biodegradable and biobased substitutes. By giving scientists the capacity to manipulate biological systems and create microorganisms, synthetic biology offers a workable approach for creating bio-based substitutes that satisfy these regulatory requirements.

Another aspect influencing market expansion is synthetic biology's adaptability in creating bio-based goods. Researchers and businesses may modify microbes and biological systems to produce useful substances and materials thanks to synthetic biology approaches. Microorganisms, for instance, can be genetically engineered to create flavors, medicines, speciality compounds, and enzymes. The manufacture of high-value and specialized items that are difficult to obtain using conventional methods is made possible by the customization and scalability of this technology. The demand for goods made from biological materials is also being driven by the pharmaceutical and healthcare sectors. The possibility of engineering cells and creating new medications and treatments is provided by synthetic biology. Among these include the creation of therapeutic proteins, antibodies, vaccinations, and methods for personalized treatment. The ability to alter biological systems at the molecular level facilitates the creation of novel therapies and targeted treatments, improving patient outcomes and fostering the improvement of healthcare procedures. Thus, driving the Synthetic biology market revenue.

Synthetic biology Market Segment Insights

Synthetic biology Tool Insights

The Market segments of Synthetic biology, based on Tool includes Oligonucleotides and Synthetic DNA, Enzymes, Cloning Technologies Kits, Synthetic Cells, Chassis Organisms, Xeno-nucleic Acids. The Oligonucleotides and Synthetic DNA segment dominated the market in 2022. In many research and diagnostic applications, oligonucleotides and synthetic DNA are crucial tools. They are utilized for molecular cloning, sequencing, molecular cloning, CRISPR-Cas9 gene editing, DNA amplification, and gene synthesis. These applications are crucial for improving our comprehension of biological systems, researching genetic illnesses, and creating novel treatments and diagnostics. The need for artificial DNA and oligonucleotides in research and diagnostics has been a major factor in this market's domination.

Figure 1: Synthetic biology Market, by tool, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Synthetic biology Technologies Insights

The Synthetic biology Market segmentation, based on Technologies, includes Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-directed Mutagenesis, Cloning, Measurement and Modeling, Microfluidics, Nanotechnology. The Sequencing segment dominated the market in 2022. In the search for new medicines and biomedical research, DNA sequencing has become a crucial tool. Sequencing technologies are used by researchers to examine gene expression, find genetic variants linked to disease, and investigate the relationships between genes and proteins. As it enables the identification of pharmacological targets and the comprehension of drug mechanisms of action, DNA sequencing is also essential in the discovery and development of novel medications and therapies. The dominance of the sequencing segment has been influenced by the demand for DNA sequencing in scientific research and medication discovery.

Synthetic biology Application Insights

The Market segmentation of Synthetic biology, based on Application includes Medical Application, Artificial Tissue and Tissue Regeneration, Industrial Applications, Food & Agriculture, Environmental Applications. The Medical Application segment dominated the market in 2022. Gene editing tools, such as CRISPR-Cas9, have evolved dramatically in recent years, as have genetic engineering techniques. These methods give scientists the ability to precisely alter DNA sequences, creating new opportunities for therapeutic interventions. The ability to design cells and alter biological systems is made possible by synthetic biology, which makes it easier to create new medical therapies. The dominance of the Medical Application segment has been propelled by the ongoing advancements in genetic engineering techniques.

Synthetic biology Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Synthetic biology Market dominated this market in 2022 (45.80%). Due to the region's robust research infrastructure, well-established biotechnology and pharmaceutical sectors, and encouraging government initiatives, North America has been a significant market for synthetic biology. Further, the U.S. Synthetic biology market held the largest market share, and the Canada market of Synthetic biology was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: SYNTHETIC BIOLOGY MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Synthetic biology market accounts for the second-largest market share. The scientific research ecosystem in Europe is strong and includes prestigious academic institutions, research centers, and universities. These organizations contribute significantly to the advancement of research and development in synthetic biology, to the promotion of innovation, and to the creation of intellectual property. Europe's status as a major player in the synthetic biology market is largely a result of the region's top-notch research infrastructure. Further, the German market of Synthetic biology held the largest market share, and the UK market of Synthetic biology was the fastest growing market in the European region

The Asia-Pacific Synthetic biology Market is expected to grow at the fastest CAGR from 2023 to 2032. Research and development (R&D) spending, especially in the areas of biotechnology and the life sciences, has significantly increased throughout the Asia-Pacific region. Significant funding is being allocated by governments, academic institutions, and commercial businesses to support research efforts and foster innovation in synthetic biology. A solid basis for the development of the synthetic biology industry in the region is provided by the rising R&D spending. Moreover, China’s market of Synthetic biology held the largest market share, and the Indian market of Synthetic biology was the fastest growing market in the Asia-Pacific region.

Synthetic biology Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Synthetic biology market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Synthetic biology industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Synthetic biology industry to benefit clients and increase the market sector. In recent years, the Synthetic biology industry has offered some of the most significant advantages to medicine. Major players in the Synthetic biology market, including Bota Biosciences Inc.; Codexis, Inc.; Creative Biogene; CREATIVE ENZYMES; Enbiotix, Inc.; Illumina, Inc.; Merck Kgaa (Sigma-Aldrich Co. LLC); New England Biolabs; Euro fins Scientific; Novozymes; Pareto Bio, Inc.; Scarab Genomics, LLC; Synthego; Synthetic Genomics Inc.; Thermo Fisher Scientific, Inc. and others, are attempting to increase market demand by investing in research and development operations.

Thermo Fisher Scientific Inc. (Thermo Fisher) delivers medical equipment, analytical instruments, reagents and consumables, software, and services to satisfy the demands of challenging analytical challenges in research, diagnostics, and clinical laboratories. It offers solutions for cellular biology, synthetic biology, and flow cytometry. Mass spectrometry, genetic sequencing, electron microscopy, protein, and molecular biology research equipment are just a few of the many products that the company sells. The company offers services to companies in the environmental, industrial quality, and process control sectors, as well as to academic and research institutes, governmental organizations, pharmaceutical and biotech companies, clinical diagnostic laboratories, and environmental companies. It provides its products and services through its direct sales force, online sales, and third-party distributors across the Americas, Asia-Pacific, and Europe. The headquarters of Thermo Fisher are located in Waltham, Massachusetts, in the US.

A life sciences business called Eurofins Scientific SE (Eurofins) offers clients in numerous industries analytical testing services. The business provides forensic services, environmental testing, agroscience services, biopharma services, pharma discovery services, pharma early development, pharma central laboratory, biopharma product testing, and product testing. Its analytical techniques aid in determining the purity, authenticity, and safety of biological products and substances. To provide a variety of services, it makes use of its expertise in information technology and logistics. The corporation has operations in South America, the Middle East, Asia Pacific, Europe, and North America. The headquarters of Eurofins are in Luxembourg.

Key Companies in the Synthetic biology market include

• Bota Biosciences Inc.


• Codexis Inc.


• Creative Biogene


• CREATIVE ENZYMES


• Enbiotix Inc.


• Illumina Inc.


• Merck Kgaa (Sigma-Aldrich Co. LLC)


• New England Biolabs


• Eurofins Scientific


• Novozymes Pareto Bio, Inc.


• Scarab Genomics, LLC


• Synthego


• Synthetic Genomics Inc.


• Thermo Fisher Scientific, Inc.

Synthetic biology Industry Developments

January 2022:DNA synthesis business Ribbon Biolabs has secured USD 19.6 million in series A funding. With the help of this finance, the business made it possible for commercial-scale production facilities and the development of DNA synthesis technology in the US.

February 2021:To deliver lipids for the Pfizer-BioNTech COVID-19 Vaccine (BNT162b2), Merck collaborated with BioNTech (Germany).

January 2021:Launched by Novozymes is Frontia GlutenEx. It would let wheat processors recover more gluten protein while using less energy.

January 2021:Merck purchased German company AmpTec. As a result of this acquisition, the company increased the scope of its product offering by creating and producing mRNA for use in diagnostics, treatments, and immunizations.

Synthetic biology Market Segmentation

Synthetic biology Tool Outlook

• Oligonucleotides and Synthetic DNA


• Enzymes


• Cloning Technologies Kits


• Synthetic Cells


• Chassis Organisms


• Xeno-nucleic Acids

Synthetic biology Technologies Outlook

• Gene Synthesis


• Genome Engineering


• Sequencing


• Bioinformatics


• Site-directed Mutagenesis


• Cloning


• Measurement and Modeling


• Microfluidics


• Nanotechnology

Synthetic biology Application Outlook

• Medical Application


• Artifical Tissue and Tissue Regeneration


• Industrial Applications


• Food & Agriculture


• Environmental Applications

Synthetic biology Regional Outlook

• 
  North America
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America