Synthetic Biology

Synthetic Biology

Global Synthetic Biology Market to Reach US$86.2 Billion by 2030

The global market for Synthetic Biology estimated at US$15.3 Billion in the year 2023, is expected to reach US$86.2 Billion by 2030, growing at a CAGR of 28.0% over the analysis period 2023-2030. Oligonucleotides & Synthetic DNA, one of the segments analyzed in the report, is expected to record a 29.3% CAGR and reach US$39.5 Billion by the end of the analysis period. Growth in the Enzymes segment is estimated at 27.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.5 Billion While China is Forecast to Grow at 32.3% CAGR

The Synthetic Biology market in the U.S. is estimated at US$5.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.9 Billion by the year 2030 trailing a CAGR of 32.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 25.8% and 26.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 28.8% CAGR.

Global Synthetic Biology Market - Key Trends & Drivers Summarized

Synthetic biology is an interdisciplinary branch of science that combines principles from engineering, biology, chemistry, computer science, and genetics to design and construct new biological parts, devices, and systems. This field aims to redesign existing natural biological systems for useful purposes and to engineer novel organisms with desired functions. At its core, synthetic biology involves the synthesis of genetic material to create DNA sequences that do not exist in the natural world, which are then used to program organisms to perform specific tasks. Applications range from producing biofuels and pharmaceuticals to creating new materials and processing information biologically.

The field of synthetic biology has made significant strides thanks to advancements in genetic engineering techniques such as CRISPR-Cas9, which have dramatically increased the precision, efficiency, and affordability of genome editing. Moreover, synthetic biology often relies on automated and computer-assisted techniques that allow for the high-throughput synthesis and testing of genetic variations. These capabilities facilitate rapid progress in developing biological solutions to issues in health, energy, and environmental management. For instance, synthetic biologists have engineered yeast cells that can produce complex drugs, like artemisinin for malaria treatment, and bacteria that can break down plastics into environmentally benign byproducts. The integration of artificial intelligence and machine learning with synthetic biology also holds the potential to unlock new discoveries and applications, further pushing the boundaries of what can be achieved.

The growth in the synthetic biology market is driven by several factors, including the increasing demand for sustainable solutions across various industries, the expansion of biotechnology applications, and significant investment in research and development. Environmental concerns and the need for sustainable production methods propel the use of synthetic biology in developing bio-based chemicals, materials, and fuels. This approach not only helps in reducing the ecological footprint but also in diminishing dependence on fossil fuels. In the pharmaceutical sector, synthetic biology techniques are being used to produce new and more effective therapies, especially as traditional drug discovery processes prove to be time-consuming and costly. The market is also bolstered by policy frameworks that support biotechnological advancements and by a growing workforce skilled in interdisciplinary sciences. Economic factors, including venture capital funding and governmental grants, continue to inject financial resources into the field, promoting innovative startups and scaling up of bio-engineered solutions. As such, the market is expected to see robust growth as synthetic biology transforms how materials, chemicals, and drugs are developed, offering vast improvements in efficiency, cost, and performance.

Select Competitors (Total 141 Featured) -

• Agilent Technologies, Inc.
• Amyris, Inc.
• Agrivida, Inc.
• ATG Biosynthetics GmbH
• Algentech SAS
• Arzeda
• AdvanceSyn
• Asimov, Inc.
• ArsenalBio
• Abiochem Biotechnology
• Accelerbiotics
• Antheia
• Ardra Bio
• Baccuico
• Absci Corp.

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