Synthetic Biology Market Outlook 2031
- The global synthetic biology market was valued at US$ 10.7 Bn in 2021
- The global market is projected to advance at a CAGR of 21.3% from 2022 to 2031
- The global synthetic biology market is anticipated to reach more than US$ 74.7 Bn by the end of 2031
Synthetic Biology Market Introduction
Synthetic biology is a branch of science that deals with the re-engineering of organisms for useful purpose by transforming them into new possibilities. Synthetic biologists and key players across the world are harnessing the power of nature to solve problems in medicine, manufacturing, and agriculture. Synthetic biology projects often aim to redesign organisms to make a substance, such as a drug or fuel, or acquire a new ability such as sensing something in the environment. Microorganisms used for bioremediation, rice modified to produce beta-carotene, and yeast modified to produce rose oil are some examples of synthetic biology.
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Molecular genetics has become an integral part of biomedical science and clinical practice, having major implications in deciphering the pathogenesis and progression of disease, identifying diagnostic markers & prognosis, and designing better targeted treatments. Synthetic biology in medicine plays an important role in the health and wellness market. Synthetic biology devices not only help advance the understanding of disease mechanisms, but also provide new diagnostic tools. Synthetic biology-based methods enable the development of new strategies for the treatment of cancer, immune disorders, metabolic disorders, infectious diseases, and manufacture of inexpensive pharmaceuticals.
Rise in Demand for Improved Drugs and Vaccines to Drive Global Synthetic Biology Market
Synthetic biology is one of the solutions to reduce the risk of antibiotic-resistant microorganisms, which is a significant threat to drug development organizations. Manufacturers are applying synthetic biology to drug and vaccine development, as it is a process in which man-made biological materials are produced using biological devices and systems. Synthetic biology is a process widely accepted by companies for the production of innovative and personalized drugs (drugs and vaccines). In 2014, the Massachusetts Institute of Technology (MIT) partnered with Pfizer to develop personalized and innovative drugs. Rise in prevalence of infectious diseases is driving the global synthetic biology market share. Infectious diseases such as H1N1, H1N5, and dengue fever are rampant among the population, and individualized and innovative treatments (drugs or vaccines) are needed to overcome them. Therefore, pharmaceutical companies have changed/adopted synthetic biology processes to recognize and improve the treatment of a particular disease/disorder. The global synthetic biology market trends indicate significant growth related to treatment enhancement.
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Advancement in Molecular Biology to Boost Demand for Synthetic Biology
Synthetic biology uses gene synthesis and DNA sequencing at a basic level to perform advanced experiments. Rapid progress has been made in the field of molecular biotechnology such as FISH, PCR, and aCGH. Advent of these innovative technologies enables experts to detect genetic anomalies and hidden chromosomal aberrations at an early stage of a disease. The FISH technique detects changes in chromosome number and structure. PCR is a revolutionary sequencing method that can generate millions of DNA in a short time. The results obtained from this technique help doctors to decide what type of treatment is needed for a patient and monitor him or her during treatment selection. Array CGH is another molecular biology technique, which is widely used for clinical research in constitutional cytogenetics, rare diseases, cancer, and reproductive health. aCGH provides high-resolution, genome-wide analysis for the detection of chromosome-wide aneuploidies, microsatellite deletions, and single exon-resolution duplication and replication neutral events such as loss of heterozygosity (LoH) and uniparental disomy (UPD). Rapid advancements in molecular biology enable researchers to find an effective result within a short time. Thus, advancement in molecular biology is driving the global synthetic biology market size.
Superior Benefits and Satisfaction Fueling Core Products Segment
In terms of product type, the global synthetic biology market has been bifurcated into core products and enabling products. The core products segment has been classified into synthetic DNA, synthetic genes, synthetic cells, synthetic clones XNA & chassis organisms, and others. The synthetic DNA sub-segment dominated the core products segment in 2021. Core products include a range of products that provide superior consumer benefits and satisfaction. These are tools designed primarily for high level synthesis products. Synthetic DNA can bring out the functions of cells by artificially building them into existing DNA. These DNAs are injected directly into the cell nucleus to build a synthetic organism with the desired functionality. Synthetic genes are generated artificially for the development of economic genes that satisfy specific needs of consumers. These genes are produced in laboratories or clinics using artificial gene synthesis to modify the sequences of genes. Advancement in synthetic biology and introduction of advanced technologies in the field of genetic, biology, engineering and computer sciences are augmenting the synthetic DNA sub-segment.
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Usage in Modification of Genetic Foods, Gene Cloning, and Gene Therapy Propelling Genome Engineering Segment
Production of Drugs and Vaccines at Lower Cost Bolstering Healthcare Segment
Based on application, the global synthetic biology market has been divided into healthcare, chemicals, agriculture, and others. The healthcare segment accounted for the largest share of the global synthetic biology market in 2021. This can be ascribed to the increase in utilization of synthetic biology technique to produce drugs and vaccines at lower cost. furthermore, the commercial availability of synthetic DNA and synthetic genes is driving the healthcare segment.
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Regional Analysis of Global Synthetic Biology Market
According to the synthetic biology market research analysis, Europe accounted for major share of the global synthetic biology market in 2021. This can be ascribed to consistent efforts by the European Union (EU) toward the development of synthetic biology in the region. Increase in application of synthetic biology techniques in the field of energy, health, environment, and other areas is driving the market in Europe. The European Commission has provided funding for an initiative on New and Emerging Technologies (NEST) within the 6th Framework Programme (FP6). This initial funding was intended to encourage synthetic biology research in Europe that later would be supported by local funding agencies. Additional investment came as part of the Horizon 2020 Programme, which ran from 2014 to 2020, offering a total of 21 grants focused on synthetic biology. Thus, rigorous efforts of these organizations is likely to provide a strong platform for the development of synthetic biology in Europe.
North America held the second-largest share of the global market in 2021. Increase in scientific research and novel technologies that could expand the scope for the development of synthetic biology is propelling the market in the region. Synthetic biology is rapidly growing in scientific and innovative sectors owing to its potential impact on health, environment, security, and human rights.
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Analysis of Key Players in Global Synthetic Biology Market
The global synthetic biology market is consolidated, with presence of a small number of large companies. Majority of the companies are investing significantly in research and development activities, primarily to introduce environmentally-friendly products. Expansion of product portfolio and mergers & acquisitions are key strategies adopted by major players. Leading players in the global synthetic biology market are Bristol-Myers Squibb, Gevo, Inc., Life Technologies, DSM, DuPont, Inc., Genomatica, Inc., LS9, Inc., Amyris, Inc., Codexis, Inc., Twist Bioscience, Ginkgo Bioworks, GenScript, Insitro, ElevateBio, and Precigen, Inc.
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