Synthetic Biology Market Analysis

Synthetic Biology Market Analysis

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.

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.