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Global Synthetic Biology Market size exceeded USD 11 billion in 2018 and is anticipated to witness over 24% CAGR up to 2025. Strong applications outlook across various end use industries including agriculture, industrial chemicals, health care is set to drive synthetic biology industry growth.
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Increasing investments in R&D activities supported by the government agencies will provide positive outlook for businesses across the global market. As per National Science Foundation, U.S. invested around USD 820 million from 2008-2014 and is estimated to be one of the largest investors in synthetic biology market globally. Similarly, UK invested over USD 330 million from 2008-2016 to promote the industry development. Factors such as optimized production process, improved access to renewable energy and reduced carbon footprints fuelling publicly funded synthetic biology projects worldwide.
|Market Size in 2018:||11 Billion (USD)|
|Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||24%|
|2025 Value Projection:||55 Billion (USD)|
|Historical Data for:||2014 to 2018|
|No. of Pages:||250|
|Tables, Charts & Figures:||185|
|Segments covered:||Products, Technology, Application and Region|
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Shifting production trends towards materials derived from natural plant products such as rubber, essential oils, food flavours and fragrances will support industry development. Increasing research activities with collaboration of science, technology and engineering to design, redesign, produce or modify living organisms, genetic materials, and biological systems will create new growth opportunities for industry participants over the forecast period.
Rising demand for biofuel as a result of global energy crisis, depletion of fossil fuels and increasing pollution will foster the synthetic biology market growth. Recent advancement in synthetic biology are paving the way for the fourth-generation biofuels production, where specially engineered microorganism/crops will serve as feedstock material. Increased worldwide per capita energy consumption owing to rapid industrialization with an upsurge in global population is likely to propel synthetic biology applications across energy sector.
Increasing concern pertaining to food security with growing population, changing climate and environmental stress will also boost the market demand. Synthetic biology aims to fulfil sustainable agricultural practices that allow minimal use of chemical fertilizers and pesticides along increased yield. Factors such as food production with better shelf life, higher and tailored nutritional or medicinal value will foster synthetic biology applications across food and agricultural sector. However, biosafety, biosecurity and ethical risk related to synthetic biology may hamper the business expansion.
Core products of the market are expected to witness over 25% CAGR up to 2025. Strong applications outlook for synthetic genes, synthetic DNA parts, chassis organisms and synthetic cells across pharmaceuticals and diagnostics field supporting this segment growth. Wide range of applications such as drugs manufacturing, fuel and raw materials for industrial processes and production of food will boost demand for synthetic biology market. Positive application outlook of synthetically engineered microbe in bioremediation such as breakdown of petroleum products in less toxic by-products, degradation of chemicals like pesticides, dioxins, radioactive substance and pharmaceutical products will foster the industry growth.
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Microfluidics accounted for more than 19% market share in 2018. Improved demand for the development of an easy-to-handle and low-cost clinical diagnostic supporting this segment growth. Fast sampling/identifying capabilities and dependable measurements of metabolic constraints from a human body with minimum invasion are the major factors likely to fuel microfluidics technology demand. Rapid expansion of clinical diagnostics industry globally will also provide lucrative business opportunities for synthetic biology market players.
Genetic engineering is anticipated to witness notable growth over the projected timeframe. Increasing technological advancements in line with gene editing techniques that are efficient enough in treatment of a genetic disease as compared to the conventional therapies driving this segment growth.
Synthetic biology market from agriculture applications is expected to register over 24% CAGR up to 2025. Growing necessity to improve production by modifying the genetic sequence of crops, also known as transgenic or genetically modified crops is likely to support this segment growth. Growing transgenic crops production owing to increase in food demand, rising population and favorable government policies fueling the global industry development. However, less consumer acceptance due to concerns regarding genetically modified crops and stringent regulations related to production and labeling of the product may hamper the industry expansion.
Pharmaceuticals & diagnostics application segment accounted for over 75% market share in 2018. Increasing acceptance of microfluidics technology in biopharmaceutical production for monitoring and optimizing protein drug production is fostering the overall synthetic biology market trends. Key advantages including shorter analysis time, greater control of experimental parameters, high resolution and sensitivity for the detection and separation of molecules and cost reduction fuelling microfluidics technology adoption rate. Strong demand from research applications to study the nanoparticle transport in blood, observation of chemical kinetics and antibiotic drug-resistant bacteria will also support market expansion in coming years.
European synthetic biology market is expected to register fastest CAGR of 25% through 2025. Rise in R&D expenditure across medical field and presence of large number of pharmaceutical companies will support the regional market outlook. Increasing government research programs such as ERASynBio and Horizon 2020 for sustainable production of renewable resources and their application across food, feed, materials, fibers, chemicals and bioenergy through efficient and/or innovative technologies fuelling regional growth.
Asia Pacific synthetic biology industry accounted for over 25% market share in 2018. Rising awareness in developing economies such as India and China with surge in chronic diseases occurrences will foster the synthetic biology market statistics. Increasing necessity for food production with high nutritional value, enhanced shelf life and free from harmful allergens is likley to propel biotechnology applications. In addition, surge in feedstock production with engineered microorganisms to enhance the quality of animal or plant based food products driving regional market growth.
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Competitive Market Share
Synthetic biology market is competitive in nature due to the presence of large, regional and multinational players in the market. Key industry participants include Amyris, DNA2.0, Evolva, DSM, Twist biosciences, Integrated DNA technologies, GenScript, Editas Medicine, Inc., Novozymes, Blue heron, Pareto Biotechnologies, TeselaGenSyntrox Inc, and Thermo Fischer Scientific. Companies are adopting strategies such as collaborations to carry out R&D activities, new product launch and joint ventures for business expansion. In September 2018, Novozymes announced the launch of BalanciusTM, new feed additive for broiler chickens which improves the gut health. This will enable farmers to produce 3% more food from same amount of feed and move towards more sustainable production. This strategy of the company will increase the customer base and lower the environmental impact on food production.
Synthetic biology is one of promising and fastest growing technologies around the globe. It has a range of applications in the field of medicine, agriculture, nanotechnology, and industrial sector. Rise in funding from public and private organizations is likely to provide strong business outlook for the industry players involved in synthetic biology field. The speed and efficiency of DNA synthesis coupled with increase in genomic data are the key factors propelling the use of advanced technologies for the production of commercial products including proteins and renewable chemicals. Manufacturers of biofuels, renewable chemicals and specialty chemicals, bioproducts, pharmaceutical ingredients, health products, and food ingredients are expected to launch new products in the market.
Synthetic biology market research report includes in-depth coverage of the industry with estimates & forecast in terms revenue in USD Million from 2013 to 2025, for the following segments:
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