Increasing Investments for Synthetic Biology is expected to boost the Synthetic Biology Market from 2018 to 2025.
Synthetic biology has applications in the pharmaceutical, chemical, food & agriculture, and energy sectors. Globally, many manufacturers in the synthetic biology market are investing huge funds in research and development of innovative products. Synthetic biology market comprises large number of start-up companies that provide products/services for the biological processes. In the recent years, there has been an increase in the investments by venture capital companies in synthetic biology start-up companies. For instance, in 2015, Zymergen received US $44 million funds from Transcript and AME Cloud Ventures among others. In addition, in 2016, Zymergen has raised US$130 million in Series B funding which was led by SoftBank Group, Iconiq Capital, Prelude Ventures, Tao Capital Partners and prior leading investors. Similarly, in November 2017, Bolt Threads raised US$123 million in Series D for synthetic biology research.
The synthetic biology market is segmented on the basis of products, technology and application. Based on products, global synthetic biology market is segmented as enzymes, oligonucleotides, chassis organisms, and xeno-nucleic acids. The enzymes segment of product is most widely used in pharmaceutical and biotech companies for the manufacturing of medicine. On the basis of technology, the synthetic biology market is segmented into gene synthesis, genome engineering, measurement and modeling, cloning and sequencing, nanotechnology, and others. In 2017, gene synthesis has the largest market share owing to increasing usage of this technology in cancer research & biofuel production. On the basis of application, global synthetic biology market is segmented into industrial applications, food and agriculture, medical applications, environmental applications, and others.
Geographically, the synthetic biology market is segmented into North America, Europe, Asia Pacific (APC), Middle East and Africa (MEA) and South and Central America (S&CAM).The market for synthetic biology is well established in North America region, especially in the US and Canada. Grants & funds by NFS in US and rising number of conferences in Mexico can be the key factors that are likely to boost the growth of synthetic biology market in North America. However, Asia Pacific is anticipated to witness highest growth rate during the forecast period owing to growing expenditure on R&D, increasing number of publications & patents in science & technology and increasing demand synthetic biology solutions in in the region. The synthetic biology market is booming in China. The emergence of start-ups and local players in the Asia Pacific region, are expected to boost the synthetic biology market. In addition, major players in the region are aiming to launch new products for local markets.
The players operating in the synthetic biology market across the globe include Thermo Scientific Inc., Merck KGaA, Novozymes, Agilent Technologies, Amyris, GenScript, Integrated DNA Technologies, Inc., Twist Bioscience, New England Biolabs, and Synthetic Genomics Inc.
