Number of pages: 100 | Report Format: PDF | Published date: November 10, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market size value in 2021 |
US$ 2 billion |
Revenue forecast in 2030 |
US$ 3.99 billion |
Growth Rate |
CAGR of 8% from 2022 to 2030 |
Base year for estimation |
2021 |
Forecast period |
2022-2030 |
Segments covered |
By Method, Application, End User and Region. |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global gene synthesis market was pegged at US$ 2 billion in 2021 and is expected to witness a CAGR of 8% during the forecast period.
Market Fundamental
In vitro chemical production of double-stranded DNA molecules is known as gene synthesis. It is a tool used in biotechnology and has a significant impact on synthetic biology. Gene therapy, the creation of vaccines, molecular engineering, and heterologous gene expression are just a few of the recombinant DNA technology applications where the technology has emerged as a key tool. It can assist in creating new enzymes for the treatment of cancer. Additionally, it can be used to diagnose viral genomes in real-time vaccine development. Without using a template DNA strand, gene synthesis can create mutated, recombinant, or completely new DNA sequences.
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Market Dynamic
One of the main drivers of the worldwide gene synthesis market's expansion is the rise of start-up businesses operating in the sector, as well as increased research and development expenditures for gene synthesis methodologies and technological developments. However, in the next years, the growth of the worldwide gene synthesis market may be constrained by a lack of qualified specialists and rigid, time-consuming approval procedures.
Market Ecosystem
The market has been analysed into four perspectives by method, application, end user and region.
Gene Synthesis Market by Method
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Based on method, the global gene synthesis market has been segmented into oligonucleotide synthesis and gene assembly. The oligonucleotide synthesis is sub segmented into solid phase phosphoramidite synthesis, and microchip-based oligonucleotide synthesis whereas gene assembly is also sub segmented into ligation-mediated assembly and PCR mediated assembly. The gene assembly segment dominated the market during forecast period. Oligonucleotides up to 120–150 nucleotides (nt) in length are frequently produced via chemical synthesis, which is a step in the gene synthesis process. For this reason, in most cases, tiny oligonucleotides are connected using gene assembly techniques in order to create the gene of the desired length. To combine relatively short synthetic oligonucleotides into larger gene sequences, a number of techniques have been created over the past three decades. One of the most popular methods for mediating assembly of the desired DNA sequence is the polymerase chain reaction (PCR) - mediated assembly.
Gene Synthesis Market by Application
Based on application, the global gene synthesis market has been segmented into disease diagnosis, gene & cell therapy development, vaccine development and others. The gene and cell therapy segment dominated the segment during forecast period due to the active development of novel treatments by corporations and academic institutions around the world, which has increased access to cutting-edge medications for the treatment of chronic diseases.
Gene Synthesis Market by End User
Based on end user, the gene synthesis market has been segmented into academic and research institutes, biopharmaceuticals company, contract research organization. The academic and research institute dominated the segment during forecast period. Research institutions are collaborating with service providers to expedite their projects that require the synthesis and characterisation of gene fragments, and gene synthesis services are frequently used in study plans.
Gene Synthesis Market by Region
Based on region, the gene synthesis market has been segmented into North America, Europe, Asia Pacific and Rest of the Word. The market for gene synthesis is now dominated by North America, and this dominance is anticipated to continue for a while. In North America, the US holds the largest market share. The ageing population, rising frequency of hereditary and chronic diseases like cancer, growing need for specialised treatment, and supportive government initiatives are the main factors driving the large market. Additionally, due to growing demand from academic institutions and biopharmaceutical companies, as well as the existence of a sizable number of industry participants with a reliable distribution route Twist Bioscience, for instance, increased its revenue by US$68.3 million in 2018 as a result of scaling up and commercialising their silicon chip-based technology for high throughput, low-cost gene synthesis. Thus, this component helped to further develop the local market.
The recent approval of a large number of cellular and gene therapies in the region also encourages additional businesses to invest in this domain. Because of the growing investments made by international corporations in the regional industry, Asia Pacific is predicted to have the fastest CAGR. Additionally, the expansion of the industry is aided by the presence of several important corporations in developing countries like China and India.
Competitive Landscape
Some of the prominent player in the global gene synthesis market include
Strategic Development
The Asia Pacific is the key growth region in the global gene synthesis market.
The rising R&D in the field of genomics and next generation sequencing, increasing demand for personalized medicine and rising government funding toward genomics.
The global gene synthesis market is expected to clock US$ 3.99 billion by 2030
The global gene synthesis market was pegged is expected to witness a CAGR of 8% during the forecast period.
Some of the prominent player in the global gene synthesis market include GenScript, Brooks Automation, Inc. (GENEWIZ) and others.
*Insights on financial performance is subject to availability of information in public domain