Report : Synthetic Biology Market to 2025 - Global Analysis and Forecasts by Products (Enzymes, Chassis Organisms, Oligonucleotides, Xeno-Nucleic Acids); By Technology (Measurement & Modeling, Cloning & Sequencing, Gene Synthesis, Nanotechnology); and Application (Medical Applications, Industrial Applications, Food and Agriculture, Environmental Applications)
Enzyme Segment to Grow at Faster CAGR During 2016–2025
According to our new research study on “Synthetic Biology in Healthcare Market Forecast to 2025 – COVID-19 Impact and Global Analysis – by Product, Technology, and Application,” the market is expected to reach US$ 56,044.9 million by 2025 from US$ 6,802.0 million in 2016; it is estimated to grow at a CAGR of 28.2% from 2016 to 2025. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the Synthetic biology in healthcare market is attributed to the increasing investments, technological advancement and rising numbers of start-up companies are boosting the market over the years. In addition, the emerging trends of synthetic biology are likely to have a positive impact on the growth of the market in the coming years.
Based on product, the Synthetic biology in healthcare market is segmented into Enzymes, Oligonucleotides, Chassis Organisms, and Xeno-Nucleic Acids. Enzymes segment is poised to grow with a largest market share of 37.3% in 2017. The segment is growing due to its production from the microbial sources that are used for industrial and commercial use. Owing to these factors, the market for enzymes is anticipated to surge during the forecast period from 2016 to 2025, at a significant rate.
The Synthetic biology in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
ThermoFisher Scientific Inc., Merck KGaA, Novozymes, Agilent Technologies, Amyris, GenScript, Integrated DNA Technologies, Inc., Twist Bioscience, New England Biolabs (NEB), and Synthetic Genomics Inc. are among the leading companies operating in the Synthetic biology in healthcare market.
The report segments Synthetic biology in healthcare market as follows: