The "Synthetic Biology Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The Synthetic Biology Market was valued at USD 15.20 Billion in 2023, and is expected to reach USD 59.91 Billion by 2029, rising at a CAGR of 25.68%

The global synthetic biology market report contains exclusive data on 38 vendors. The market is highly competitive, with major players like Agilent Technologies, Codexis, Eurofins Scientific, Illumina, Novozymes, and Thermo Fisher Scientific holding significant market shares. These companies face strong competition from emerging and established players, driving continuous technological innovation and product development across various sectors such as healthcare, industrial applications, food and beverages, agriculture, and environmental solutions. To maintain their market position and expand their presence, key players in the synthetic biology market focus on organic growth strategies, including launching new products, innovating existing ones, and securing patents for new technologies.

North America dominates the global synthetic biology market share. In North America, the synthetic biology landscape is particularly vibrant, with over 530 regenerative medicine companies, including those specializing in cell and gene therapy and stem cell-based medicines. These companies are heavily involved in research and development, utilizing synthetic biology products to advance medical treatments.

The US, in particular, is a global leader in conducting cell and gene therapy-based clinical trials, with a growing number of patients opting for these innovative treatments. Regulatory approvals for these therapies are also more frequent in North America, further driving the region's leadership in this field.

MARKET TRENDS & DRIVERS

Increasing Applications of Synthetic Biology Products

Synthetic biology is revolutionizing real-world applications across multiple industries, including food, pharmaceuticals, and agriculture. From 2000 to 2021, significant advances in synthetic biology tools have enabled biotechnology, pharmaceutical, and agriculture companies to develop innovative products with real-world impact. Impossible Foods has transformed the plant-based food market by engineering the yeast Pichia pastoris to produce soy leghemoglobin, a key component in replicating the taste and experience of a traditional hamburger. Advances in metabolic engineering have efficiently transferred large metabolic pathways from natural sources to production hosts like yeast.

This breakthrough enables the production of plant-based burgers with authentic meaty flavors, creating a new category of food products that appeal to both consumers and environmental advocates. As synthetic biology advances, the next decade promises even greater innovations that will enhance the performance and affordability of products across life sciences, pharmaceuticals, and industrial sectors. The field's growing influence offers significant opportunities for companies looking to harness its transformative potential.

The Rise of Bio-Based Products and Sustainable Energy Solutions

The synthetic biology sector is transforming, driven by the growing global demand for bio-based products and sustainable energy solutions. This growth is propelled by breakthroughs in genetic engineering, metabolic engineering, and synthetic biology tools, which have significantly enhanced the ability of researchers to manipulate microorganisms to produce high-value chemicals and fuels. These microorganisms are now engineered to efficiently convert renewable resources, such as biomass, algae, and waste materials, into diverse valuable products.

This shift marks a departure from traditional methods that relied heavily on non-renewable resources, offering a more sustainable and environmentally friendly approach to manufacturing. One of the most notable impacts of these advancements is the ability to produce biofuels from non-food biomass. This innovation provides a renewable alternative to fossil fuels and helps address pressing issues of energy security and environmental sustainability. By utilizing resources that would otherwise contribute to waste, synthetic biology enables the creation of biofuels with a significantly lower carbon footprint than conventional fuels.

Rising Use of Synthetic Biology in Multiplexed Diagnostics and Therapeutic Genome Editing

The field of synthetic biology is witnessing significant growth in its application for multiplexed diagnostics and therapeutic genome editing. This trend is driven by the technology's ability to engineer highly precise, customizable solutions that can address complex healthcare challenges. Multiplexed diagnostics, which involve the simultaneous detection and analysis of multiple biomarkers or pathogens, are becoming increasingly sophisticated thanks to synthetic biology.

This technology allows for the design of synthetic gene circuits and CRISPR-based systems to identify multiple disease indicators in a single test, leading to faster, more accurate diagnoses. In therapeutic genome editing, synthetic biology revolutionizes how genetic disorders are treated. By leveraging tools like CRISPR-Cas9, researchers can target and edit multiple genes simultaneously, offering potential cures for previously difficult or impossible conditions.

These advancements are particularly impactful in developing personalized medicine, where therapies can be tailored to an individual's unique genetic makeup. The growing use of synthetic biology in these areas is enhancing the effectiveness of diagnostics and treatments, reducing costs, and improving accessibility.

INDUSTRY RESTRAINTS

Threat to Existing Technologies

Synthetic biology start-ups and established chemical companies invest in various technologies to enter the market. Innovations in synthetic biology will hurt existing industries. In most cases, the more beneficial technology is widely accepted in the market. Many companies invest in various synthetic biology applications-based products. For instance, high-income countries like the US and the UK have more market patents than middle-income countries like India. These innovations largely impact their economies. Innovations in synthetic biology will hurt existing industries and can disrupt their processes.

SEGMENTATION HIGHLIGHTS

INSIGHTS BY TOOL

The global synthetic biology market by tool is segmented into oligonucleotides and synthetic DNA, enzymes, cloning technology kits, xeno-nucleic acids, and chassis organisms. The oligonucleotides and synthetic DNA segment holds the largest market share. Oligonucleotides, short DNA or RNA molecules, play a critical role in genetic testing, research, and forensics due to their stable, efficient, and rapid synthesis.

INSIGHTS BY TECHNOLOGY

The global synthetic biology market by technology is categorized into enabling and enabled. The enabling technology shows significant growth, with the fastest-growing CAGR during the forecast period. Enabling technologies are pivotal in advancing the global synthetic biology market, comprising key areas such as gene synthesis, bioinformatics, genome engineering, cloning technology, mutagenesis, gene measurement and modeling, and microfluidics.

INSIGHTS BY APPLICATION

Based on the application, the healthcare application accounted for the largest global synthetic biology market share. Basic life sciences are instrumental in the growth of synthetic biology, providing a foundation for innovation and the development of new tools and techniques. The collaboration between scientists, engineers, and chemists in this field has led to the creation of a wide array of tools that advance the goals of synthetic biology.

INSIGHTS BY END-USER

Based on the end-user, the pharma and biotech companies show the highest growth in the global synthetic biology market. Pharma and biotech companies have been pivotal in the early successes of synthetic biology, largely due to the inherent connection between synthetic biology and the production of small-molecule drugs.

KEY QUESTIONS ANSWERED:

• What are the key drivers of the global synthetic biology market?
• How big is the global synthetic biology market?
• Which region dominates the global synthetic biology market?
• What is the growth rate of the global synthetic biology market?
• Who are the major players in the global synthetic biology market?

Key Attributes:

VENDOR LANDSCAPE

Key Vendors

• Agilent Technologies
• Codexis
• Eurofins Scientific
• Illumina
• Novozymes
• Thermo Fisher Scientific

Other Prominent Vendors

• Amyris
• ATUM
• Bio-Rad Laboratories
• Creative Biogene
• Creative Enzymes
• Cyrus Biotechnology
• Editas Medicine
• Genomatica
• Genscript
• Ginkgo Bioworks
• Integrated DNA Technologies
• LGC Biosearch Technologies
• New England Biolabs
• OriGene Technologies
• Precigen
• Sentebiolab
• SynbiCITE
• Synthego
• Tessera Therapeutics
• Viridos
• Asimov
• Twist Bioscience
• Mammoth Biosciences
• ElevateBio
• Dupont
• DSM
• Bota Biosciences
• Kiverdi
• Merck KGaA
• Synlogic
• Huee
• Upside Foods

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