Synthetic Biology Market

Synthetic Biology Market worth $8.84 Billion by 2022

The report "Synthetic Biology Market by Tool (Oligonucleotides, Chassis Organisms, Enzymes), Technology (Genome Engineering, NGS, Cloning and Sequencing), Application (Medical (Pharmaceutical, Drug Discovery), Industrial (Renewable Energy)) - Global Forecast to 2022", The synthetic biology market is expected to reach USD 8.84 billion by 2022 from an estimated USD 3.57 billion in 2017, at a CAGR of 19.9% during the forecast period. The key factors driving the growth of this market include the wide range of applications of synthetic biology, rising R&D funding and initiatives, increasing demand for synthetic genes and synthetic cells, and increasing investments in synthetic biology companies.

Browse 162 market data Tables and 32 Figures spread through 214 Pages and in-depth TOC on "Synthetic Biology Market by Tool (Oligonucleotides, Chassis Organisms, Enzymes), Technology (Genome Engineering, NGS, Cloning and Sequencing), Application (Medical (Pharmaceutical, Drug Discovery), Industrial (Renewable Energy)) - Global Forecast to 2022"
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Oligonucleotides held the largest market share in 2017

Based on tools, the synthetic biology market is subsegmented into oligonucleotides, enzymes, cloning technology kits, chassis organisms, and xeno-nucleic acids. The oligonucleotides segment is expected to account for the largest share of the market in 2017 owing to increased large-scale production of modified oligonucleotides for nex-generation sequencing applications. Also, there is a trend of synthesis of larger error-free chains of oligonucleotides. The enzymes segment accounted for the second-largest share of the synthetic biology tools market owing to increasing demand of novel enzymes for the production of synthetic fuels, drugs, and chemicals.

The genome engineering technology is expected to grow at the highest CAGR during the forecast period

Based on technology, the synthetic biology market is segmented into gene synthesis, genome engineering, cloning and sequencing, next-generation sequencing, site-directed mutagenesis, measurement and modeling, microfluidics, and nanotechnology. The genome engineering segment is expected to account for the highest CAGR during the forecast period. Factors such as advances in CRISPR-toolbox and DNA synthesis technologies; the need for rapid, cheap, multiplex modification of genomes; and ongoing research activities are expected to drive the growth of the genome engineering market during the forecast period. CRISPR/Cas is being used to develop potential drug targets for diseases like cancer. In August 2017, Novartis received an approval for the clinical trials of its CAR-T cell therapy for leukemia. The company is employing CRISPR/Cas9 to engineer these CAR-T cells.

The US dominated the synthetic biology market in 2017

In 2017, the US is estimated to account for the largest share among other regions in the synthetic biology market, followed by the UK and Germany. The dominant share of the US is attributed to factors such as increased demand for bio-based products, increased investments in synthetic biology companies, and rising R&D funding for synthetic biology. The US accounts for the highest number of synthetic biology publications globally, with US-based authors contributing to 42.4% of the identified publications between 2000 and 2015.

The synthetic biology market comprises a few established players and several new entrants. This is a technologically-driven market, wherein players are constantly innovating to come up with advanced tools and products. The major players in the global synthetic biology market include Thermo Fisher (US), Novozymes (Denmark), Merck KGaA (Germany), Intrexon (US), and Agilent Technologies (US).

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