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Synthetic Biology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 117 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4763920
The synthetic biology market was valued at USD 43.63 million in 2021, and it is expected to register a CAGR of 19.23% during the forecast period, 2022-2027.

During the COVID-19 pandemic, the market had a slight decline in growth due to decreasing production, followed by lockdown and lack of labor situation. The prices were higher than usual. But the synthetic biology market had a positive impact on the market due to the increasing demand for innovation and development of vaccines, therapeutics, and diagnostics. This played a major role in increasing the revenue of the studied market. The ongoing research for COVID vaccine and drugs furthermore boosts the market growth. According to the research article published in MolecularCloud in August 2020, titled “Synthetic Biology’s role in fighting COVID-19”, synthetic biology addresses the requirement of vaccine development during the COVID-19 pandemic by empowering drug discovery scientists to synthesize DNA fragments, clones, or entire variant libraries. Due to the wide application of synthetic biology in the vaccine and drug development against COVID-19, the studied market is expected to grow during the pandemic era.

There are certain factors propelling the growth of the market, including increasing support from the government and private institutions, increasing R&D investments in drug discovery, and the development and declining cost of DNA sequencing and synthesizing.

The growing involvement of government bodies, research institutes, and large organizations in synthetic biology research activities will likely support the market in the next few years. Governments of various nations have been providing research support for synthetic biology because of its extensive applications. There have been many research studies and projects running in various countries with respect to synthetic biology that has tried to tap various complexities in the genomes of organisms, which has helped create more effective and efficient therapies to treat them.

Synthetic biology technologies and products are also finding significant usage in various application areas. Since the organisms engineered with synthetic biology techniques are relatively reasonable, owing to their use in various industrial applications, which also translates into a reduction in the cost of research, the demand for these techniques is growing worldwide.

However, the biosafety and biosecurity of developing synthetic biological products and the ethical issues concerning the market hinder the market growth. It is not hard to see why some artificial biological products may fail to fit into the accurate dichotomy between living and non-living. Such concerns restrain the research and development and, in turn, the market’s growth.

Key Market Trends

Healthcare Segment is Expected to Hold the Largest Market Share in the Synthetic Biology Market

The rapid development of synthetic biology has driven the healthcare industry with respect to the varied therapeutic approaches by using live bacteria, artificial cells, and engineered phages. For instance, it has enabled life technologies to design and manufacture antigens and variants with rapid results, high expression, and capacity. Synthetic biology has several applications starting from drug and vaccine development, applications manufacturing, and diagnostic tests.

Various initiatives taken by governments and other organizations are expected to positively influence the market studied in this segment. For instance, the Ministers’ Media Centre, Government of Australia announced through a press release in November 2020 that Australia’s Morrison government planned to invest around AUD 8.3 million for establishing a cutting-edge synthetic biology research facility ‘’BioFoundry’’ to accelerate research into areas, including human therapeutics and other new products. Such investments are further expected to enhance the synthetic biology field in the healthcare vertical.

In January 2021, AbSci, one of the leading synthetic biology companies enabling drug discovery and biomanufacturing of next-generation biotherapeutics, announced the acquisition of Denovium Inc., an artificial intelligence (AI) deep learning company. This acquisition represents the perfect synergy of groundbreaking synthetic biology and cutting-edge deep learning AI to create in silico predictive protein drug design and cell line development capabilities with the potential to completely change the paradigm of biopharmaceutical discovery and development.

North America is Expected to Dominate the Synthetic Biology Market during the Forecast Period

North America is estimated to account for the largest share in the synthetic biology market due to factors such as the increasing demand for bio-based products, increased investments in synthetic biology companies, and rising R&D funding for synthetic biology.

The United States contributes majorly to the research being done in the fields of drug discovery, genomics, and proteomics structure prediction, and soon in the region, thereby boosting the growth of the synthetic biology market. Various universities and research institutes received funding from governmental organizations, like the National Institute of Health (NIH), and private organizations, like Gates and Melinda Foundation, for developing various bioinformatics, DNA sequencing and biological components, and integrated systems devices, which can be widely used for various healthcare and other applications.

In February 2020, a new research team was formed in MIT Media Lab called Nano-Cybernetic Biotrek, led by an Indian Engineer and physicist, Deblina Sarkar, to bridge the gap between nanotechnology and synthetic biology with various research activities.

In September 2020, the United States-based Synthetic biology startup, Zymergen Inc., received USD 300 million in a new funding round from Baillie Gifford & Co. to accelerate the company’s R&D activities in synthetic biology.

Furthermore, increasing support from the government and private institutions and increasing R&D investments in drug discovery and development are also major growth factors expected to drive the market during the forecast period.

Competitive Landscape

The synthetic biology market is consolidated in terms of competition. The competitive analysis of the companies reveals that most of the companies are concentrating on agreements followed by product launches for the expansion of their business. The value chain of product manufacturing includes the steps that require collaborative efforts by two or more companies, and this is the key reason for agreements among the companies. Some of the companies that are currently dominating the market are Amyris Inc., DuPont De Nemours and Company, Genscript, Integrated DNA Technologies Inc. (Danaher Corporation), Precigen, Inc (Intrexon Corporation), New England Biolabs Inc., Novozymes AS, Koninklijke DSM NV, Synthetic Genomics Inc., Thermo Fisher Scientific Inc., Ribbon Biolabs GmbH, and Twist Bioscience.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Support from Government and Private Institutions
4.2.2 Increasing R&D Investments in Drug Discovery and Development
4.2.3 Declining Cost of DNA Sequencing and Synthesizing
4.3 Market Restraints
4.3.1 Bio-safety and Bio-security
4.3.2 Ethical Issues
4.3.3 Reimbursement Cuts Causing Pricing Pressure
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Core Products
5.1.2 Enabling Products
5.1.3 Enabled Products
5.2 By Applications
5.2.1 Healthcare
5.2.2 Chemicals (Including Biofuels)
5.2.3 Food and Agriculture
5.2.4 Other Applications (Biosecurity, Energy, and Environment)
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle East & Africa GCC South Africa Rest of Middle East & Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Amyris Inc.
6.1.2 DuPont De Nemours and Company
6.1.3 Genscript
6.1.4 Danaher Corporation (Integrated DNA Technologies Inc.)
6.1.5 Precigen Inc. (Intrexon Corporation)
6.1.6 New England Biolabs Inc.
6.1.7 Novozymes AS
6.1.8 Koninklijke DSM NV
6.1.9 Synthetic Genomics Inc.
6.1.10 Thermo Fisher Scientific Inc.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Amyris Inc.
  • DuPont De Nemours and Company
  • Genscript
  • Danaher Corporation (Integrated DNA Technologies Inc.)
  • Precigen Inc. (Intrexon Corporation)
  • New England Biolabs Inc.
  • Novozymes AS
  • Koninklijke DSM NV
  • Synthetic Genomics Inc.
  • Thermo Fisher Scientific Inc.