The gene synthesis market size is projected to reach US$ 14.7 billion by 2031 from US$ 2.62 billion in 2023. The market is expected to register a CAGR of 24.7% during 2023–2031. Increase in investments & funds for gene synthesis, rising numbers of biotech-based start-up companies, and growth in medical science in emerging nations are likely to remain key trends in the market.
Precision medicine is using an individual’s genomic information to offer targeted treatment to the individual. Gene synthesis technology is a key precision medicine technology, increasing its accuracy, speed, and cost. Gene Synthesis can rapidly sequence large sections of a person's genome and aids in formulating precision medicine. Advances in whole genome sequencing allowed for identifying genes required in disease studies, and biomarkers that specify disease severity or susceptibility to treatment are gradually being illustrated. The continued detection of new genes and biomarkers specific to disease subtypes and individual patients is essential for translation into personalized medicine to estimate both disease risk and response to application.
Increase in investments & funds for gene synthesis, rising numbers of start-up companies, and technological advancements are key drivers for the increase of the market. However, the growth of the market is restricted by various factors, such as a lack of skilled professionals and long approval processes. Gene synthesis is an established market in some of regions such as Japan, whereas, with some recent progress in countries such as India, China, Indonesia, and Taiwan, it is expected that a major chunk of the demand will be generated from the above-mentioned countries. Additionally, factors such as increasing emphasis on industry players in Japan and India, and funds and grants in the country like China are likely to propel the growth of the market.
The increasing number of new entrants conducting gene synthesis procedures is a major factor driving the growth of the global gene synthesis market. The start-ups are proliferating due to support from accelerators to promote and commercially exploit biological and engineering applications. The supportive government of respective geographies facilitating adequate funds for research and developments in the biotechnology sectors is helpful for start-up companies to seek basic investments for setting up a new venture. Propelling incidences of phenological disorder, articulation difficulties, and shuttering are major drivers of global speech and language disorders market share.
Most of the market players focus on rising markets such as Asia Pacific due to an increase in the prevalence of various diseases in the region. In India, medical science has grown rapidly, and big steps have been taken in the past few decades. In India, the treatment has become so popular and common that people from other countries are coming here to get themselves treated. Scientific research and development are growing at a faster pace in China, majorly in the fields of applied sciences, such as sustainable energy, nanotechnology, and stem cells. The development and construction of synthetic microbial consortia, supported by the Chinese 973 Synthetic Biology program, focuses to address the fundamental tasks in engineering natural microbial consortia and reconstructing the consortia for industrial demands. These are becoming a major reason for the market growth in the forecast period.
Key segments that contributed to the derivation of the gene synthesis market analysis are products & services, applications, and end users.
The geographic scope of the XYZ market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. The growth in North America is characterized by an increase in the demand for gene synthetic techniques from biopharmaceutical and biotechnology companies, the presence of key market players, and extensive R&D conducted by various academic and research institutes. Moreover, increasing focus on advanced method incorporation in healthcare, government and private initiatives for the promotion of precision medicine, and massive funds from the government are further expected to stimulate the growth and contribute to exceptional revenue generation for the gene synthesis market in North America. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Gene Synthesis Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Gene Synthesis Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2.62 Billion |
| Market Size by 2031 | US$ 14.7 Billion |
| Global CAGR (2023 - 2031) | 24.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Products & Services
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Gene Synthesis Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Gene Synthesis Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Gene Synthesis market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Gene Synthesis market are listed below:
The “Gene Synthesis Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Based on geography, the Gene Synthesis market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America is the largest contributor to the growth of the global ENT devices market. Asia Pacific is expected to register the highest CAGR in the ENT devices market during 2023–2031
Increase in investments & funds for gene synthesis, followed by rising numbers of biotech-based start-up companies largely drive the Gene Synthesis market size
The Gene Synthesis market majorly consists of the players such Eurofins Scientific; Thermo Fisher Scientific Inc.; GenScript ; BIONEER CORPORATION; Integrated DNA Technologies ; ATUM ; Twist Bioscience ; BioCat GmbH; OriGene Technologies, Inc.; and GENEWIZ.
The gene synthesis market size is projected to reach US$ 14.7 billion by 2031
The market is expected to register a CAGR of 24.7% during 2023–2031