Synthetic Biology Market

The global synthetic biology market in terms of revenue was estimated to be worth $11.4 billion in 2022 and is poised to reach $35.7 billion by 2027, growing at a CAGR of 25.6% from 2022 to 2027. Various elements such as decreasing cost of DNA sequencing and synthesizing, increased government funding for synthetic biology research are boosting the growth of this market. However, biosafety, biosecurity, and ethical concerns related to synthetic biology are likely to hinder the growth of this market.

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Synthetic Biology Market Dynamics

Driver: Increased Funding is likely to upsurge the market growth

Synthetic biomedicine research has gained momentum, owing to the depleting antibiotic pipeline, rising incidence of chronic and debilitating disorders such as cancer and HIV; and growing need to develop effective and promising cures for several diseases that adversely affect the quality of life across the globe. The continuous rise in the funding for synthetic biology by government agencies is further supporting the growth of this market. For instance, in July 2022, SynbiCITE, UK’s National Centre for the Industrial Translation of Synthetic Biology received USD 5.7 million (£5.5m) funding commitment from SynBioVen. Founded 2022, SynBioVen is a venture capital investment firm based in United Kingdom. The firm focuses to invest across the healthcare and biotechnology sectors. The funding will enable the Imperial-hosted centre to continue to support synthetic biology startups and SMEs, strengthen the emerging UK bioeconomy and help unlock the societal benefits of synthetic biology.

Restraint: Biosafety, biosecurity, and ethical concerns

One important biosafety concern in synthetic biology is the intentional or unintentional release of synthetic organisms into the environment during research and other applications. Synthetic microbes, when released into the environment, can mutate or interact with other organisms, resulting in crossbreeding with natural organisms and creating bio errors. This can threaten the ecosystem of natural organisms. The formation of antibiotic-resistant superbugs is another major biosafety concern. In recent years, the European Union (EU) has funded several research efforts on the environmental impact of deliberately released genetically engineered microbes for plant growth or bioremediation.

Opportunity: Use of Machine Learning in research and development

In recent years, artificial intelligence (AI)/machine learning has emerged as a plausible alternative to systems biology for the elucidation of biological phenomena and in attaining specified design objective in synthetic biology. The current development of artificial intelligence (AI) and machine learning (ML) techniques and tools in the biological and biotechnological domains can be viewed similarly for bringing about smarter and more automated analysis and decision-making to these fields. AI/ML remains an alternative for investigating system behaviors and improving the output of interest in synthetic biology applications. Currently various market players shifted the focus on machine learning use in synthetic biology. Additionally, immensive government support This is likely to create lucrative growth opportunities in coming years. For instance, as of November 2022, BigHat Biosciences, Inc., a biotechnology company with a machine learning-guided antibody discovery and development platform entered in collaboration with Merck to develop AI-enabled platform to expedite protein engineering to design and develop novel therapeutic candidates. Under the collaboration, BigHat and Merck will collaborate to optimize up to three proteins by leveraging BigHat’s platform to synthesize, express, purify, and characterize molecules.

The oligonucleotides & synthetic DNA segment dominated the synthetic biology market in 2021.

Based on tool, the synthetic biology market is broadly segmented into oligonucleotides & synthetic DNA, enzymes, cloning technology kits, synthetic cells, chassis organisms, and xeno-nucleic acids. In 2021, oligonucleotides & synthetic DNA accounted for the dominant share in synthetic biology market. This segment's large share can be attributed to factors such as rising demand for synthetic DNA and oligonucleotides. Furthermore, key market players focusing on launching of new products in the market is likely to upsurge the growth of the segment.

The medical applications segment is expected to grow at the highest CAGR during the forecast period.

Based on application, the synthetic biology market is segmented into medical applications, industrial applications, food & agriculture, and environmental applications. The medical applications segment is expected to register the highest CAGR during the forecast period. Increased investment in development of novel therapeutics through synthetic biology is one the factor driving the market growth. Need of fuel alternative is increasing adoption of synthetic biology hence propelling market growth.

North America dominated synthetic biology market in 2021.

Geographically, the synthetic biology market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2021, North America accounted for the largest share in synthetic biology market, followed by Europe and the Asia Pacific. The large share of the North American market is owing to various factors such as increased use synthetic biology techniques across various industries such as medical, agriculture and others. Increased research funding for synthetic biology is furthermore driving the market growth in North America.

Key players in the synthetic biology market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies (US), Novozymes (Denmark), Ginkgo Bioworks (US), Amyris (US), Precigen, Inc. (US), GenScript (China), Twist Bioscience (US), Synthetic Genomics (US), Codexis (US), Synthego (US), Creative Enzymes (US), and Eurofins Scientific (Luxembourg).

Synthetic Biology Market Report Scope

This report categorizes the synthetic biology market into the following segments and subsegments:

By Tool

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

By Technology

• Gene Synthesis
• Genome Engineering
• Sequencing
• Bioinformatics
• Site-directed Mutagenesis
• Cloning
• Measurement and Modelling
• Microfluidics
• Nanotechnology

By Application

• Medical Application
  • Pharmaceuticals
  • Drug Discovery and Therapeutics
    • Cancer Detection & Diagnostics
    • Other Drug Discovery and Therapeutic Applications
• Artificial Tissue and Tissue Regeneration
  • Bio-synthesis
  • Stem Cell Regulation
  • Other Tissue and Tissue Regeneration Applications
• Industrial Applications
  • Biofuel 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
    • Other Industries
• Food & Agriculture
• Environmental Applications
  • Bioremediation
  • Biosensing

Recent Developments:

• In January 2021, Novozymes launched Frontia GlutenEx. It would help wheat processors increase their gluten protein recovery and, at the same time, cut down on energy consumption.
• In February 2021, Merck partnered with BioNTech (Germany) to supply lipids for the production of Pfizer-BioNTech COVID-19 Vaccine (BNT162b2).
• In January 2021, Merck acquired AmpTec (Germany). With this acquisition, the company strengthened its product portfolio to develop and manufacture mRNA for utilizing vaccines, treatments, and diagnostics.

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