Global Synthetic Biology Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Synthetic Biology Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Synthetic biology is a field of science that involves redesigning organisms for useful purposes by engineering them to have new abilities. Synthetic biology researchers and companies around the world are harnessing the power of nature to solve problems in medicine, manufacturing, environmental and agriculture.

Market Overview:

The latest research study on the global Synthetic Biology market finds that the global Synthetic Biology market reached a value of USD 12144.23 million in 2022. It’s expected that the market will achieve USD 43611.2 million by 2028, exhibiting a CAGR of 23.75% during the forecast period.

Challenges

With the extensive application of synthetic biotechnology products, genetically edited strains may appear in the natural environment and participate in the biological cycle, which may lead to problems in biosafety and ethics.
In the field of ecological environment, synthetic microorganisms accidentally leaked from the laboratory may adapt to the surrounding environment after a period of time; The new synthetic species will evolve and adapt to the environment faster than other natural species, and quickly fill the new ecological circle; When synthetic organisms enter the new natural environment, they will add new DNA to nature, thus affecting diversity, which may have adverse effects on human health or organisms in nature.
In terms of ethics, the wide application of synthetic biology may ignore the value of life and challenge natural evolution. If the future life can be synthesized and mass-produced in the laboratory, then the natural life value may be reduced, and people's respect for life may be reduced, thus violating the basic bioethics principle of respecting life. Think of life as an industrial product or commodity. Biological evolution in synthetic biology is not a self-development process of natural selection, but a process of self-evolution and creation of human beings.
Standardization is crucial to the success of many industries. Relevant institutions have made great efforts to standardize biological components and systems, and organizations such as Biobricks, BSI and NIST are also actively developing synthetic biological standards in the field of data transmission and quantification.
In the initial stage of industrialization of synthetic biology, due to the change of production mode of products or even new substances, it is necessary to face the problems of market promotion and standard establishment in the process of putting them on the market.
Standardization is considered to be the key driving factor in all aspects of synthetic biology, and it is absolutely necessary for this field to be transformed into a real biological design engineering discipline. From the original data recording and analysis in the R&D stage, to the implementation of automated workflow in customized hardware, to data management and maintenance, commercial manufacturing and regulatory approval: standardization is the foundation of success. However, the synthetic biology industry still has a long way to go to support the standardization level needed for effective business activities.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Thermo Fisher Scientific is one of the major players operating in the Synthetic Biology market, holding a share of 2.67% in 2022.

Thermo Fisher Scientific Inc. is the world leader in serving science. Thermo Fisher Scientific Inc. develops, manufactures and sells a range of products. The Company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

Amyris, Inc. is a synthetic biotechnology and renewable chemical company headquartered in Emeryville, California. Amyris serves the specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals markets.

Segmentation Overview:

Among different product types, Gene Synthesis segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Medical Applications segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Synthetic Biology market covered in Chapter 3:

Thermo Fisher Scientific
Agilent
New England Biolabs
Editas Medicine
Genscript Biotech
Ginkgo Bioworks
Precigen
Codexis, Inc.
Viridos
Twist Bioscience
Amyris, Inc.
Intellia Therapeutics
Integrated DNA Technologies
Horizon Discovery

In Chapter 4 and Chapter 14.2, on the basis of types, the Synthetic Biology market from 2018 to 2029 is primarily split into:

Gene Synthesis
Genome Engineering
Cloning and Sequencing
Next-Generation Sequencing
Site-Directed Mutagenesis
Measurement and Modeling
Microfluidics
Nanotechnology

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Synthetic Biology market from 2018 to 2029 covers:

Medical Applications
Industrial Applications
Food and Agriculture
Environmental Applications

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)