The Global Synthetic Biology Market is estimated to grow at a CAGR of 24.2% during the forecast period 2020-2025. As per the analysis, the Global Synthetic Biology Market valued $6.8 billion in the year 2020 and estimated to reach $20.1 billion by the end of the year 2025.
The Global Synthetic Biology Market growth is driven by various growth factors such as increasing investments by government and private players in synthetic biology, increasing R&D funding & initiatives in synthetic biology, declining cost of DNA sequencing & synthesizing, wide range of applications of synthetic biology and growth in demand for synthetic cells and synthetic genes.
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Segmentation Overview of the Global Synthetic Biology Market
The global synthetic biology market is segmented on the basis of tool, technology and application. These market segments are categorized into various sub-segments to study the market in detail.
The Tool Segment of the Global Synthetic Biology Market is Sub-Segmented into:
The Technology Segment of the Global Synthetic Biology Market is Sub-Segmented into:
The Application Segment of the Global Synthetic Biology Market is Sub-Segmented into:
Geographical Overview of the Global Synthetic Biology Market
On the basis of geographical segmentation, the global synthetic biology market was studied across North America (U.S., Canada); Europe (Germany, UK, France); Asia Pacific (China, India, Japan); Latin America (Brazil, Mexico); Middle East & Africa. As per the analysis, the Asia-Pacific synthetic biology market is estimated to grow at the highest CAGR during the forecast period 2020-2025. The regional growth is attributed to growth in the number of pharmaceutical & biopharmaceutical companies, strong government support, heavy funding for synthetic biology research, increasing number of international alliances, increasing requirements for regulatory compliance in pharmaceutical and biopharmaceutical companies and increasing number of healthcare & life science facilities in the region.
Key Players Insights
New England Biolabs (US), Integrated DNA Technologies, Inc. (US), Arzeda (US), TeselaGen (US), ATUM (US), Cyrus Biotechnology Inc. (US), Eurofins Scientific (Luxembourg), Creative Enzymes (US), Synthego Corporation (US), Codexis, Inc. (US), Synthetic Genomics, Inc. (US), Twist Bioscience (US), GenScript Biotech Corporation (China), Intrexon Corporation (US), Amyris, Inc. (US), Ginkgo Bioworks (US), Novozymes A/S (Denmark), Agilent Technologies, Inc. (US), Merck KGaA (Germany) and Thermo Fisher Scientific Inc. (US) are some major players included in the research study of the global synthetic biology market. The key players present in the market are adopting various competitive strategies to withhold the market share for the long-term. Some of the competitive strategies are business expansions, mergers and acquisitions, partnerships, collaborations and many more. For instance:
Recent Developments
December 2019, Product Launch: Amyris launched a brand sweetener Purecane for the health-conscious consumer segment of the company. Amyris develop and produce sustainable ingredients for the Flavours & Fragrances, Health and Clean Beauty Industry.
December 2019, Collaboration: Cyrus Biotechnology entered into an agreement to collaborate with Harvard and MIT to optimize CRISPR in developing human therapeutics.
June 2019, Business Expansion: Novozymes opened its another campus in Lyngby based in Copenhagen. The company adopted this expansion strategy with the focus to create a hub for biotech research at the global level.
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