Report Overview

The global synthetic biology market was pegged at US$  10.9 billion in 2021 and is expected to witness a CAGR of 19.8 % during the forecast period.

Market Fundamental 

The goal of the developing, interdisciplinary discipline of synthetic biology is to simplify and improve the design, elaboration, and optimization of biological systems. The functioning of biological systems is necessary for advances in synthetic biology. In addition, despite biology's lack of predictability, an increase in the creation of tiny molecules utilising synthetic biology techniques boosts the market.

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Market Dynamic 

The expansion of research and development efforts across numerous fields is anticipated to lead to an increase in the global market. Players are adopting synthetic biology techniques to improve performance and maximise the usage of inexpensive inputs like garbage in order to improve conventional biofuel production. For instance, biotechnology is being used by fashion firms like Modern Meadow, Bolt Threads, and Vitro Labs to create sustainable fabrics. Furthermore, the development of biofoundries, improvements in genome editing, the availability of natural resources, and sizable marketplaces are emphasised as global strengths in synthetic biology. Discussions of potential obstacles to the field's long-term development, such as inadequate legislation and infrastructure, are presented along with suggestions for solutions that include public-private partnerships, improved multilateral cooperation, and a strong governance framework.

Market Ecosystem 

The global synthetic biology market is analysed from four perspectives like product, technology, application and region.

Synthetic Biology Market by Product

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Based on product, the global synthetic biology market has been segmentedinto enzyme, synthetic DNA, cloning technology kits. The synthetic DNA segment dominated the market during forecast period. The main component in many molecular and synthetic biology applications is oligonucleotides. The main market drivers for the same include the expanding use of targeted NGS, mutagenesis studies, DNA computing, and CRISPR gene editing. For instance, OligoMix is a cutting-edge and custom product for genetic research. It produces a huge number of oligonucleotide sequences in parallel. The price is less than 0.8 cents per base for the same. Enzymes, on the other hand, are predicted to experience the fastest CAGR growth during the forecasted period. Catalysts for biological reactions include enzymes. Market expansion is projected to be facilitated by the potential use of enzymatic synthesis to supply longer genes in a short amount of time.

Synthetic Biology Market by Technology

Based on technology, the global synthetic biology market has been segmented into PCR and NGS. The PCR segment dominated the market during forecast period. One of the most important technologies for the identification and study of particular gene sequences is the Polymerase Chain Reaction (PCR). Since real-time PCR assays have great sensitivity and specificity, they are frequently used in PCR-based genomic research. In several fields, including forensic science, DNA cloning, molecular diagnostics, and genomics, this technique is widely employed.

Synthetic Biology Market by Application

Based on application, the global synthetic biology market has been segmented into pharmaceuticals & diagnostics, healthcare, chemicals, biofuels, bioplastics, and others. The healthcare segment dominated the market during forecast period and this trend will continue during the forecast period.  Synthetic biology-based diagnostics offer a highly accurate, quick, non-invasive, and real-time method for identifying pathogens, cancer cells, and treatments. Researchers use rational engineering methods to create unique, dynamic biosensing systems made up of a processor, sensor, and reporter.

Synthetic Biology Market by Region

Based on region, the global synthetic biology market has been segmented North America, Europe, Asia Pacific, Rest of the World. The regional market was dominated by North America, whose revenue share was greatest. This significant portion can be ascribed to rising private company investment, advantageous rules, and government support. In order to fuel the expansion of the synthetic biology business, the U.S. primarily focuses on research in the fields of proteomics, drug screening and discovery, and genomic structure prediction.

The synthetic biology market is expected to grow at the fastest rate in the Asia Pacific region, which is expected to be fuelled by factors such as rising investments in Asia Pacific nations, expanding partnerships & funding in the Chinese market, and expanding collaborations in the field of synthetic biology. Furthermore, to foster technical innovation for the advancement of synthetic biology, some Asian nations have lately established national institutions, state-sponsored research programmes, and academia-industry partnerships.

Competitive Landscape 

Some of the prominent market players in the global synthetic biology market include, 

• Thermo Fisher Scientific
• Synbio Technologies
• Illumina, Inc. 
• Merck KGaA
• Agilent Technologies, Inc.
• Bota Biosciences Inc. 
• GenScript
• Amyris
• Eurofins Genomics GmbH
• Integrated DNA Technologies, Inc.
• Codexis, Inc. 
• EnBiotix, Inc.
• Synthego
• New England Biolabs (UK) Ltd.
• Scarab Genomics, LLC
• Genomatica, Inc.
• Creative Enzymes.
• Synthetic Genomics Inc.

Strategics Development 

• In April 2022, acquisition of the MAST Platform, a Prominent Automated Bioreactor Sampling System, by Merck KGaA from Lonza. Another significant step toward accelerating innovation in Merck's Process Solutions business unit is the acquisition of the MAST platform.
• In January 2022, a series A funding fund of EUR 18 million was raised by the DNA synthesis business Ribbon Biolabs. With this money, the business supported the development of commercial manufacturing facilities and the DNA synthesis industry in the US.
• In January 2022, the introduction of the Oncomine BRCA Assay GX was announced by Thermo Fisher Scientific. It is a targeted next-generation sequencing (NGS) assay made to comprehensively amplify every human BRCA1 and BRCA2 gene's coding region, making it possible to detect different mutation classes with high sensitivity and accuracy.
• In November 2021, GenScript increased its gene synthesis production capabilities in the US. With fully automated oligo synthesis and sequencing platforms. 

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