The synthetic biology market is expected to reach US$ 56,044.9 million by 2025 from US$ 6,802.0 in 2016; it is estimated to grow at a CAGR of 28.2% from 2018 to 2025.
Synthetic biology, an interdisciplinary branch of biology and engineering, involves designing and constructing new devices, systems, and biological parts as well as re-designing existing, natural biological systems. It has various applications in the field of food & agriculture, medicine, and other areas. Technologies such as gene synthesis, genome engineering, and cloning and sequencing help the researchers to understand the organization of natural biological systems and design new biological entities. It offers various advantages to humans. Factors such as extensive use of enzymes kits and other gene synthesis products in research institutes and academics. Additionally, rising demand for enzyme based kits and solutions required for gene manipulation and rising awareness about genetic engineering among the healthcare professionals in developed nations also accelerate the market growth. However, competition among existing market players may restrain the growth of the market.
Increasing Investments for Synthetic Biology
Synthetic biology is an upcoming field and industry, which has numerous applications in the chemical, agriculture, pharmaceutical, and energy sectors. Various start-up companies are providing the products/services for the biological processes. Companies such as, Benchling which operate in CAD Tools, GenScript offers gene synthesis, Ginkgo Bioworks works for the organism engineering, Transcripts which is into bioinformatics operates for cloud labs/automation, Glowee provides consumer products, among the other companies operating in the synthetic biology.
Globally, synthetic biology has set the benchmark with its innovations and dynamic results. The industry has attracted various global leaders to invest in synthetic biology. For instance, synthetic biology company Zymergen has have received US$44 million funds in the year 2015, from investors such as Transcript, AME Cloud Ventures, Data Collective, Draper Fisher Jurvetson, HVF, Innovation Endeavors, Obvious Ventures, True Ventures, and Two Sigma Ventures. In addition, in the year 2016, Zymergen has raised US$130 million in Series B funding, which was led by SoftBank Group. The Round also included prior lead investors along with new investors such as Iconiq Capital, Prelude Ventures, and Tao Capital Partners.
Similarly, another synthetic biology company, Bolt Threads, raised US$123 million in Series D funding in November 2017. Ballie Gifford led the funding along with the others, such as the formation mentioned above 8, Founders Fund, Fidelity Management, Research Company, and Temasek. Allen & Company LLC. Bolt Threads also announced in TechCrunch that it has added to the amount for Series D round, to sum up, the amount of US$213 million. Owing to the rising investment for the synthetic biology companies, the need and demand for synthetic biology for the development of the new techniques may increase the market in the future years.
Based on product, the synthetic biology market is segmented into enzymes, oligonucleotides, chassis organisms and xeno-nucleic acids. In 2017, the enzymes segment held the largest share of the market, by product. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the numerous applications for various industries to produce commercial products.
Based on technology, the synthetic biology market is segmented into gene synthesis, genome engineering, measurement & modeling, cloning & sequencing, nanotechnology, and others. In 2017, the gene synthesis segment held the largest share of the market, by technology. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the advantages of technologies which upgrades the products and techniques for the industrial products.
Based on application, the synthetic biology market is segmented into industrial applications, food and agriculture, medical applications, environmental applications, and others. In 2017, the industrial applications segment held the largest share of the market, by end user. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the advantages of the food & agriculture and medical applications and segments.
Organic strategies are the more commonly adopted strategies by companies in the synthetic biology market, which enables them expand their global footprints, and product and service portfolios. The market players have also adopted organic strategies such as product approval, product launches and expansion strategies have enabled them to enlarge their global customer base, which also permits them to maintain their brand name globally.
Global Synthetic Biology Market– By Technology
Global Synthetic Biology Market– By Application
Global Synthetic Biology Market– By Geography
LIST OF TABLESTABLE 1. Phase I Clinical Trails
LIST OF FIGURESFIGURE 1. Asia Pacific Synthetic Biology market, Revenue (US$ Mn), By Geography 2018 & 2025
The List of Companies - Synthetic Biology Market1. Thermo Fisher Scientific Inc.