NEW YORK, July 30, 2024 /PRNewswire/ -- The global synthetic biology market size is estimated to grow by USD 55.60 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 34.1% during the forecast period. Growing applications leading to growing adoption of synthetic biology is driving market growth, with a trend towards evolving regulatory framework around synthetic biology. However, technical challenges poses a challenge. Key market players include Agilent Technologies Inc., Algenol, Amyris Inc., CD Biosynsis, Codexis Inc, Creative Biogene, Danaher Corp., Eurofins Scientific SE, Genomatica Inc., GenScript Biotech Corp., Ginkgo Bioworks Holdings Inc., Illumina Inc., Merck KGaA, New England Biolabs Inc., Novozymes AS, Precigen Inc., Sanofi SA, Synthego Corp., Thermo Fisher Scientific Inc., and Twist Bioscience Corp..

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Market Driver

Synthetic biology has gained significant adoption by companies across various industries in recent years. This technological advancement brings about critical regulatory considerations, particularly in the areas of biosafety and biosecurity. Governments worldwide are addressing these concerns by creating clear policies and stringent regulations to mitigate potential risks. The United Nations CBD is spearheading a global framework for synthetic biology, with 196 countries involved as of 2022. In the US, the Toxic Substances Control Act (TSCA) and various other statutes regulate the potential human health and environmental impacts. Europe has a multilevel regulatory approach, with restrictions on human embryo gene therapy. Developing countries in APAC require further clarification on synthetic biology's definition, applications, and uses. The evolving regulatory landscape is essential for the growth of the global synthetic biology market, fostering investment, innovation, and ensuring product safety and efficacy. 

Synthetic Biology is a dynamic and innovative industry, focusing on designing and engineering biological systems using DNA sequencing and synthesizing techniques. Trends include the development of synthetic organisms, antibiotic-resistant superbugs solution, and novel therapeutics. Biosafety, biosecurity, and ethical concerns are crucial. Synthetic DNA segment leads in growth, with enzymes, cloning technology kits, and synthetic cells following. Companies like Modern Meadow, Bolt Threads, and Vitro Labs are pioneering synthetic organisms, while Bio-foundries and Biofuel production are driving environmental applications. AI, machine learning, and cellular recording are revolutionizing biological phenomena. Genome editing, Xeno-nucleic acids, and therapeutic applications are design objectives. Infrastructure and policies, public-private partnerships, and multilateral cooperation are shaping the future. Key players include SynBioBeta, Arbor Biotechnologies, DNA Script, and Genome editing companies. PCR and Real-time PCR assays are essential tools. The market is vast, with potential in pharmaceuticals, biotechnology, and fuel alternatives. 

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Market Challenges

• Synthetic biology, while offering immense potential, presents unique challenges for companies in the market. Living organisms' complexity and unpredictable behavior contrast sharply with engineered systems like automobiles and computers. Researchers face difficulties working at the molecular and cellular levels due to biological systems' intricacy. The transition from cellular to system levels, such as engineered tissues, amplifies complexity. Limited knowledge on effectively utilizing available biological parts is another hurdle. Rationally designing organisms is still in its infancy, and the full potential of synthetic biology applications remains undiscovered. Genetic circuits, which consist of interacting proteins and genes, are the basis for biological functions. However, these circuits are often embedded in complex networks, making it challenging to comprehend and study their core design. These technical challenges hinder the growth of the global synthetic biology market during the forecast period.
• Synthetic Biology is a rapidly growing industry with significant potential for innovation in healthcare and agriculture. R&D investments from biopharmaceutical companies and academic research institutions are driving advancements in this field. Strategic investments from firms like Casdin Capital and Sumitomo Chemical are boosting the market. However, market concentration and regulatory hurdles pose challenges. Advancing technology offers solutions for diseases like sickle cell anemia, cystic fibrosis, and cancer through DNA-level manipulation of genetic material. Synthetic Biology tools enable programming cells at the genetic code level using bacterial genomes as proof of concept. Despite these advancements, safety, ethical use, and compliance difficulties remain concerns. Regulatory approval processes and public perception pose significant challenges. Synthetic Biology offers potential in advanced diagnostics, personalized treatments, and regenerative medicine through therapeutic proteins, antibodies, vaccines, and cellular engineering. The industry also impacts livestock and crop cultivation, offering cost-effective solutions for pharmaceutical investment and drug development. However, the high costs associated with regulatory compliance and ethical considerations may hinder growth. Innovations in synthetic biology include 3D printing of living tissues and advanced biological pathways. These advancements hold immense potential for the future of healthcare and agriculture.

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Segment Overview 

This synthetic biology market report extensively covers market segmentation by 

1. Application 
   • 1.1 Healthcare
   • 1.2 Industrial
   • 1.3 Food and agriculture
   • 1.4 Others
2. Product 
   • 2.1 Oligonucleotides
   • 2.2 Enzymes
   • 2.3 Cloning technology kits
   • 2.4 Xeno-nucleic acids
   • 2.5 Chassis organism
3. Geography 
   • 3.1 North America
   • 3.2 Europe
   • 3.3 Asia
   • 3.4 Rest of World (ROW)

1.1 Healthcare-  The Synthetic Biology market refers to the application of engineering principles to living organisms to create new biological parts, devices, and systems. This field offers significant opportunities for businesses through the development of new products and processes in industries such as healthcare, agriculture, and energy. Companies are investing in synthetic biology to improve efficiency, reduce costs, and create innovative solutions. The market is expected to grow steadily due to increasing demand for sustainable and cost-effective solutions. Businesses can collaborate with research institutions and invest in synthetic biology startups to stay competitive and drive innovation.

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Research Analysis

Synthetic Biology is an interdisciplinary field that combines engineering, biology, and technology to design and create new biological parts, devices, and systems. Buying behavior in this market is driven by the potential applications in various sectors, including pharmaceuticals, biotechnology, healthcare verticals, and biofuel production. Synthetic Biology enables DNA sequencing and synthesizing, leading to advancements in synthetic organisms, multiplexed diagnostics, cellular recording, therapeutic genome editing, and more. However, biosafety, biosecurity, and ethical concerns persist, necessitating stringent regulations. Modern Meadow and Bolt Threads are pioneering the use of synthetic biology in creating new materials for industries like fashion and manufacturing. Gene-editing technologies, synthetic DNA, RNA development, drug discovery, genome engineering, biomaterials, medical devices, and biopharmaceutical companies are also key areas of focus in this dynamic and innovative market.

Market Research Overview

Synthetic Biology Market: A Rapidly Evolving Industry Synthetic Biology is revolutionizing various sectors with its potential to design and construct new biological parts, devices, and systems. This field involves DNA sequencing, synthesizing, and manipulating genetic material to create novel organisms and biological phenomena. Buying behavior in the Synthetic Biology Market is driven by advancements in technology, ethical considerations, biosafety and biosecurity concerns, and the potential for medical and environmental applications. Key segments include synthetic DNA, enzymes, cloning technology kits, synthetic cells, chassis organisms, xeno-nucleic acids, and more. Companies are investing heavily in R&D, collaborating through public-private partnerships, and multilateral cooperation to address regulatory hurdles and advance technology. Applications span from medical to environmental, including novel therapeutics, fuel alternatives, multiplexed diagnostics, cellular recording, and therapeutic genome editing. Biotechnology and pharmaceutical industries are major consumers, with biofuel production, Modern Meadow, Bolt Threads, and Vitro Labs leading the way. Synthetic Biology also raises ethical concerns regarding the creation of synthetic organisms, antibiotic-resistant superbugs, and gene editing technologies. Regulatory bodies are working to establish policies and infrastructure to ensure biosafety, biosecurity, and ethical considerations are addressed. Advancing technology and healthcare issues, such as sickle cell anemia, cystic fibrosis, and cancer, are driving the market forward. Companies like Arbor Biotechnologies, DNA Script, Genome editing, Bio-foundries, and SynBioBeta are leading the charge in this rapidly evolving industry. Investments from strategic investors, such as Casdin Capital, Sumitomo Chemical, SynBio Hub, and academic research institutions, are fueling innovation and growth in the Synthetic Biology Market. Market concentration is increasing, with a few key players dominating the landscape. However, the potential for creative biotechnology solutions and the continuous advancement of technology ensure a bright future for this industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• • Healthcare
  • Industrial
  • Food And Agriculture
  • Others
• Product
• • Oligonucleotides
  • Enzymes
  • Cloning Technology Kits
  • Xeno-nucleic Acids
  • Chassis Organism
• Geography
• • North America
  • Europe
  • Asia
  • Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio