Synthetic Biology Market Outlook by Tool (Oligonucleotides and Synthetic DNA, Enzymes, Cloning Kits, Synthetic Cells, Chassis Organisms, Xeno-Nucleic Acids), Technology (Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Site-Directed Mutagenesis, Cloning, Measurement and Modeling, Microfluidics, Nanotechnology), Application (Medical, Pharmaceuticals, Industrial, Food & Agriculture, Environmental) - Global Industry Demand Forecast to 2030

Market Overview

The global synthetic biology market size stood at $9,421.2 million in 2021, which is expected to reach $61,220.9 million by 2030, advancing at a CAGR of 23.1% during 2021–2030. This will prominently be due to the declining costs of DNA sequencing and the availability of efficient and accurate next-genome sequencing systems at lower costs. Further, the increase in several initiatives in synthetic biology research coupled with high R&D funding from the governments as well as private bodies is the other factor that will boost the market size in the forecast period.

The increasing adoption of the NGS technology by pharmaceutical & biopharmaceutical firms in several countries is positively impacting the market outlook. The rising prevalence of chronic diseases, including diabetes and cancer, and autoimmune diseases have resulted in an increased need for innovative treatments. Attributed to this, key players are focusing on supplying superior quality instruments to pharmaceutical organizations and research centers, which are engaged in the development of therapies for genetic diseases. The different biological tools have further helped biopharmaceutical and pharmaceutical organizations design therapies as per the nature of the disease.

The use of nanopore sequencing technology for developing NGS platforms is one of the key trends observed in the market. These platforms provide high throughput sequencing to researchers and scientists along with reduced cost and high speed. Traditional sequencing methods, including the Sanger method, are expensive, sluggish, and require a large amount of template DNA, and biological platforms have assisted in disabling these limitations with more precise results.

Enzymes Category To Witness Fastest Growth

The enzymes category is expected to experience the highest CAGR, of around 25%, during 2021–2030 in the market. This will be on account of the high capability of enzymes in delivering lengthier genes in a very less turnaround time. The alteration of enzymes for their use as synthetic biology tools aids in posttranslational modification and genetic modification, which is the other factor boosting the revenue share of this category. Amylase, xylanase, lipase, and protease are some of the major enzymes being used in pharmaceutical companies for genetic engineering purposes.

Whereas, the oligonucleotides & synthetic DNA category accounted for the largest revenue share in 2021. This is mainly ascribed to the high demand for synthetic genes, synthetic RNA, and synthetic DNA for numerous applications in forensic sciences and genetic testing. Synthetically manufactured oligonucleotides act as a molecular tool in the construction of large cell populations having multiple genotypes, therefore aiding in genetic engineering, which is currently high in demand. Apart from research, oligonucleotides have widespread use in the diagnosis of disease and in therapeutic areas.

The outbreak of the COVID-19 pandemic has intensified the use of PCR for the detection and analysis of specific gene sequences, which mainly utilize oligonucleotides as a primer, thereby acting as a catalyst for the market growth. In the biopharmaceutical industry, oligonucleotides are significantly used for allele-specific assays, aptamer designing, and dsDNA binding purposes. Moreover, the increasing adoption of DNA computing, CRISPR gene editing, and mutagenesis experiments are expected to offer lucrative opportunities in the market in the coming years.

In addition, prominent players have been actively involved in the launch of innovative and personalized oligonucleotides & synthetic DNA tools, which offer inexpensive genomic experiments. For instance, OligoMix launched by LC Sciences LLC is 20 times more efficient than conventional oligos, and costs around 0.8 cents per base.

Synthetic Biology Being Used Most in Medical Applications

The medical category accounted for the largest market share, of around 40%, in 2021. This is attributed to the surging use of synthetic biology for the highly sensitive, non-invasive, and real-time detection of numerous infectious agents and cancer cells. The adoption of rational engineering technologies by researchers for the designing of novel bio-sensing systems comprising sensors, reporters, and processors also enhances the market size. In addition, the rise in neurological disorders such as multiple sclerosis and the efforts taken by key players to develop novel therapies with the aid of synthetic biology are also leading to high demand for synthetic biology in healthcare applications.

In recent times, there has been a breakthrough in the field of medicine with the aid of systematic and rational biological designs in the development of diagnostic methods. Synthetic biology-based diagnostics are dynamic and highly specific for the diagnosis as well as monitoring of metabolic parameters, tumor cells, infectious pathogens, and toxin exposure. The adoption of synthetic biology has revolutionized the healthcare sector in several areas such as drug discovery, monitoring of therapeutics, synthesis of APIs, development of alternate therapies, and vaccine development, thereby leading to high market revenue.

Pharmaceutical Applications To Witness Fastest Growth

Pharmaceutical applications of synthetic biology are expected to experience the highest CAGR, of around 30%, during 2021–2030 in the market. This can be mainly due to the active involvement of pharma & biotech firms in the development of novel therapeutics for innumerable chronic diseases like cancer, diabetes, and cirrhosis, with the use of synthetic biology. For instance, Merck & Co. Inc. made use of synthetic biology techniques for the development of Januvia (sitagliptin), which is a type 2 diabetes medicine.

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North America Is the Leader in Market

North America led the synthetic biology market in 2021, with a value of around $4 billion, primarily due to the rising government projects on countless novel biological compound synthesis, highly developed healthcare infrastructure, the presence of a large number of research laboratories performing their studies on innumerable rare and genetic-based diseases, advancements in genome sequencing, and a large number of synthetic biology patents. In addition, the presence of a large number of prominent players and the rising number of collaborations and product launches by these players in the region are other factors burgeoning the market outlook.

Furthermore, huge investments being made in genomics by both private and public organizations, including in research projects, are fueling the expansion of the market. The U.S. is perceiving huge investments in this field, owing to initiatives done by the NHGRI. These programs aim to recognize various barriers limiting the adoption of genomics in clinical care and formulate the best practices and solutions for achieving their widespread incorporation in the country.

However, the APAC market is set to register the highest CAGR, of over 25%, in the forecast period, due to the rising partnerships and funding by major players and the snowballing collaborations in the field of synthetic biology in the region. The surging number of research activities being carried out in the domain of genomics in China, Japan, and India and the soaring investments being made by public and private organizations are the key factors propelling the advancement of the regional market.

India is one of the largest pharmaceutical hubs in APAC and demands advanced biomanufacturing technologies in various industrial segments. Many global players, such as Thermo Fischer Scientific Inc., are doing partnerships with companies in India to set up their infrastructure and capture a larger market share, which is driving the market growth.

Globally, Europe is the second-highest revenue-generating market, owing to the non-profit establishments that have combined their financial resources to boost the development of RNA-based treatments, in response to the mounting demand for RNA therapies to address unmet medical needs. Also, the increasing need for personalized medicines, for better clinical results and pharmaceutical safety, has assisted the market expansion in the region.

Top Players in the Synthetic Biology Market Are:

• Thermo Fisher Scientific Inc.
• Merck KGaA
• Agilent Technologies Inc.
• Novozymes A/S
• GenScript Biotech Corporation
• Codexis Inc.
• Eurofins Scientific
• Integrated DNA Technologies
• New England Biolabs
• Royal DSM N.V.
• Illumina

Market Size Breakdown by Segment

The study provides a comprehensive market segmentation analysis along with the revenue estimation for the period 2017-2030.

Based on Tool

• Oligonucleotides and Synthetic DNA
• Enzymes
• Cloning Kits
• Synthetic Cells
• Chassis Organisms
• Xeno-Nucleic Acids

Based on Technology

• Gene Synthesis
• Genome Engineering
• Sequencing
• Bioinformatics
• Site-Directed Mutagenesis
• Cloning
• Measurement and Modeling
• Microfluidics
• Nanotechnology

Based on Application

• Medical
• Pharmaceuticals
• Industrial
  • Biofuels and renewable energy
  • Biomaterials and green chemicals
  • Industrial enzymes, by application
    • Textile industry
    • Paper industry
    • Consumer care industry
      • Skin care & cosmetics
      • Other consumer care products
• Food & Agriculture
• Environmental
  • Bioremediation
  • Biosensing

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa