Global Synthetic Biology Market Size, Share, Development, Growth and Demand Forecast to 2020 – Industry Insights by Enabling Technology (Gene Synthesis, Bioinformatics, Genome Engineering, Cloning, Mutagenesis, Gene Measurement & Modeling, Microfluidics, and Others); by Enabled Technology (Pathway Engineering, and Next-Generation Sequencing); By Tool (Oligonucleotides, Cloning Kits, Enzymes, Xeno Nucleic Acid, Chassis Organisms, and Others), By Application (Pharmaceutical & Diagnostics, Chemical, Energy, Agriculture, and Others)

Synthetic Biology Market Overview

The global synthetic biology market size is projected to reach $23.8 billion by 2020, growing at a CAGR of 35.4% during the forecast period. The market is growing due to the increasing support from government organizations, growing geriatric population and innovative and advanced applications of synthetic biology. Moreover, increasing research activities and increasing R&D investments in drug discovery and development are also bolstering the market growth.

The synthetic biology market is categorized into tools and technologies. The technology segment accounted for the major market share in the global market and it is expected to retain its dominance by 2020, with an estimated market share of over 70%. The segment is also expected to witness the fastest growth during the forecast period.

Based on application, the synthetic biology market is categorized into pharmaceutical and diagnostic, energy, chemical, agriculture and R&D. The pharmaceutical and diagnostic application held the largest market share in the historical period and by 2020, it is projected to hold a market share of over 50%. However, the energy application area is expected to witness fastest growth during the forecast period.

Geographically, North America dominates the global synthetic biology market. By 2020, the region is expected to hold a market share of above 45% in the global market. The North American market is growing due to the increasing prevalence of chronic diseases and aging population in the region. In addition, the increasing R&D investments and increasing technological advancements are also driving the growth of the market in the region. The U.S. synthetic biology industry is the largest and it is projected to reach $10.5 billion by 2020. The country is also expected to witness the fastest growth in the region, during the forecast period.

Synthetic Biology Market Dynamics

Trends

Over the past few years, the companies dealing in synthetic biology market are witnessing increase in number of mergers and acquisitions, due to various strategic business reasons. These business strategies have been devised for various purposes, such as business expansion and new product innovation for the enhancement of the product range. Thus, the increasing number of mergers and acquisitions activity is a major trend in the synthetic biology market.

Growth Drivers

The increasing support from government organizations and growing geriatric population are playing a pivotal role in the growth of this synthetic biology market. Some of the major organizations include National Science Foundation (NSF), National Aeronautics and Space Administration (NASA), Centre for Chemical and Synthetic Biology (CCSB), Synthetic Biology Engineering Research Center (SynBERC), and International Association Synthetic Biology (IASB). These organizations are providing support in form of funding, and initiatives implemented by them for basic and applied research with their respective goals.

Restraints

Synthetic biology research activities are very expensive, which is adversely impacting the growth of the synthetic biology market. It is expensive due to nucleic acids synthesis procedures, and requires huge investment for the development and sequencing of the focused genome. For instance, Mycoplasma genitalium, a bacterium, has the smallest genome out of all living cells. The bacterium consists of 517 genes, around 580 kilobases (kb). The current average price of gene synthesis is $1 per base pair, and it would take around $5.8 million to synthesize a bacterium. Thus, the mass production through synthetic biology is not feasible for artificial DNA synthesis.

Synthetic Biology Market Competitive Landscape

The key companies operating in the global synthetic biology market include Amyris Inc., E. I. du PONT de Nemours and Company, Intrexon Corporation, GenScript USA Inc., Synthetic Genomics Inc., Thermo Fisher Scientific Inc., Novozymes A/S, Royal DSM, Integrated DNA Technologies Inc. and New England Biolabs Inc.