Market Overview:

According to a new report by IMIR Market Research on Global Synthetic Biology Market was valued at approximately USD 16.4 Billion in 2023. Over the course of the forecast period (2024–2031), the market is expected to develop at a compound annual growth rate (CAGR) of 18.97%, reaching a value of USD 60.93 Billion by 2031.

The growing spectrum of applications for medicinal editing of genes, cellular recording, and also multiplexed diagnostics is expected to drive up demand for synthetic biology during the research period. Additionally, the market's overall growth may be impacted by the possible uses of organisms and products derived from synthetic biology in other sectors, such energy and chemicals.

Synthetic biology products have been used more frequently in the last two years as a result of the COVID-19 epidemic. As a result of implementing innovative methods for creating COVID-19 test kits, treatments, and vaccinations, numerous significant pharmaceutical, biotechnology, and synthetic biology businesses have expanded their research projects globally. One of the emerging technologies, according to a report by the European Parliament, is synthetic biology. It is capable of being applied in the fight against COVID-19. The United States' National Institute of Health has also emphasized the use of synthetic biology as a way to expedite the creation of vaccines.

Increasing research and development efforts across a range of fields are predicted to propel the global market forward. Players are using synthetic biology techniques to boost output and increase the use of inexpensive inputs like garbage in order to improve traditional biofuel production. For example, biotechnology is being used by fashion firms like Modern Meadow, Bolt Threads, & Vitro Labs to create sustainable fabrics.

In addition, the development of genome editing and the existence of bio-foundries, together with the abundance of natural resources and vast marketplaces, are emphasized as global advantages in synthetic biology for the establishment of a bio-based economy. There is discussion of potential obstacles to the field's long-term growth, such as inadequate legislation and infrastructure, as well as solutions offered by public-private partnerships, more successful global cooperation, and a strong governance structure.

In additional, businesses are joining the market with cutting-edge technology to satisfy the increasing demand and open up unexplored markets. To expedite RNA interference research, Creative Biogene, for example, released its wide shRNA products in November 2021. With a wide range of knowledge and experience, the company is able to produce high-quality RNA interference (RNAi) products, such as siRNA libraries and shRNA clones, with the goal of accelerating RNAi research with practical, dependable tools.

Market Dynamics:

Market Drivers:

Advancements in DNA Synthesis and Gene Editing Technologies

• The artificial organism’s market is being driven by the continuous advancements in DNA synthesis and gene editing technologies. The cost and time needed to create bespoke DNA sequences have been drastically lowered over the last ten years thanks to major advancements in DNA synthesis techniques like oligonucleotide synthesis, next-generation sequencing, and DNA assembly techniques. These approaches have significantly decreased the time and cost involved in creating unique DNA sequences. The development of strong and accurate gene editing tools like CRISPR-Cas9 along with additional set nucleases that which enable the modification of gene codes with before unattainable levels of specificity and also accuracy in a variety of organisms, has also significantly changed the field. For a range of uses in industrial biotechnology, biofuels as well medicine, and agriculture, synthetic biologists may now produce and change distinct biological parts, processes, and species. Technological developments in DNA synthesis as well as gene editing have made this conceivable. The Synthetic Biology Market is driven by innovation and expansion due to the increased accessibility, affordability, and versatility of DNA synthesis & gene editing tools. These tools allow industry stakeholders and researchers to pursue ambitious and difficult projects with greater efficiency and precision.

Rapid Expansion of Application Areas and Industry Adoption

• The Synthetic Biology Market is driven by the rapid expansion of application areas and commercial acceptance across many industries. The creation of synthetic life is a cutting-edge technology that has the potential to address some of the most pressing problems facing humanity, including food security, healthcare, renewable energy, and environmental sustainability. due to the use of modified bacteria, cell therapy, or synthetic DNA structures, synthetic biology has tremendous potential to revolutionize the healthcare industry by generating new drugs, vaccines, testing, or customized medical procedure. the medium of trait stacking, genetic manipulation, and precision breeding, synthetic biology offers opportunities in agriculture to enhance plant characteristics, boost crop yields, and develop sustainable farming practices. Additionally, by utilizing fermentation by bacteria, metabolic engineering, & synthetic enzymatic pathways, synthetic biology is propelling innovation in the creation of bio-based products, chemicals, and fuels.  The Synthetic Biology Market is expanding and developing new products, platforms, and technologies due to the swift acceptance of synthetic biology in many sectors and application areas.

Market Trends:

Expansion of CRISPR Technology Applications

• The market for synthetic biology is driven by the ongoing development of CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) applications. The creation of CRISPR-associated proteins, such as CRISPR-Cas9, has revolutionized genetic engineering by making very precise and efficient genome editing possible. CRISPR technology was first created to alter the DNA of bacteria, but it has quickly spread to a variety of other creatures, such as human cells, plants, and animals. One of the main developments is the increasing application of CRISPR technology in therapeutic applications, namely, genome editing or gene therapy for the treatment of infectious illnesses, cancer, and genetic abnormalities. Researchers are looking into novel CRISPR-based approaches for precision medicine, such as as gene regulation, gene modification, and gene knockout, in an effort to develop targeted therapies with improved safety and efficacy profiles. As a result, its applications in synthetic biology are anticipated to grow, propelling innovation and market expansion in the synthetic biology market Market.

Integration of Machine Learning and Automation

• The growing use of automation and machine learning (ML) in synthetic biology workflows to improve efficiency and productivity is driving the Synthetic Biology Market. An iterative cycle of trial and optimization is frequently needed in synthetic biology, which comprises the design, fabrication, and test of biological structures & organisms for a variety of uses. The investigators and industry stakeholders are using machine learning (ML) algorithms and automation platforms to optimize genetic constructs and pathways, predict biological behavior, and analyze large datasets in order to speed up the design-build-test-learn (DBTL) cycle while boosting the effectiveness of artificial biology research and development. Machine learning algorithms are employed in the modeling of intricate biological systems, forecasting the results of genetic alterations, and pinpointing optimal targets for genetic engineering. Automation platforms allow genetic constructs to be tested and prototyped quickly with minimal human intervention. Examples of these platforms include automated systems for DNA assembling and characterisation, high-throughput screening devices, and liquid handling robots.

Market Restraining Factors:

Higher Synthetic Biology

• An important biosafety concern in synthetic biology is the intentional or inadvertent discharge of artificial species into the environment for scientific purposes and other uses. When artificial bacteria are released into the natural world, they may undergo mutations or come into contact with other species, which could result in bioerrors and crossbreeding. This could potentially jeopardize the habitat of native creatures. Superbugs that are resistant to antibiotics are a major biosafety concern. The European Union (EU) has funded a number of studies in recent years that have examined the effects on the environment of genetically modified bacteria that are purposefully discharged for plant growth or biological remediation.

Segmentation Analysis:

The market is divided into segments based on By Technology, By Product, By Application, By End-use.

By Product

Based on the Product of the market is segmented into Oligonucleotide/Oligo Pools and Synthetic DNA, Enzymes, Cloning Technologies Kits, Xeno-Nucleic Acids, Chassis Organism.

The Synthetic DNA and Oligonucleotide/Oligo Pools division brought in USD 4,655.86 million in revenue in 2022. Oligonucleotides are regarded as the main component in a number of applications related to molecular and synthetic biology. The main market drivers for the same include the growing use of CRISPR gene editing, DNA computing, mutagenesis research, and targeted NGS. One cutting-edge and customized product for genomics findings is OligoMix, for example. It produces a large number of oligonucleotide sequences in enormous parallel. Less than 0.8 cents per base is spent on the same.

In comparison, the enzymes segment is expected to grow at a 19.26% CAGR over the projected period. During biological reactions, enzymes function as catalysts. Market expansion is predicted to be aided by the potential use of enzymatic synthesis to supply longer genes in a shorter amount of time. But the technology hasn't been released onto the market yet; it's still in the development phase.

By Application

Based on the Application of the market is segmented into Healthcare, Non-healthcare.

The market was led by the healthcare sector, that is anticipated to expand at a CAGR of 19.23% over the course of the forecast period. Synthetic biology-based diagnostics offer a very sensitive, real-time, non-invasive method of identifying infectious pathogens, cancer cells, and medicines. Researchers create dynamic, new biosensing systems with a processor, sensor, & reporter by using principles from rational engineering.

The growth in neurological conditions including multiple sclerosis is another factor driving this sector. For example, starting in July 2022, researchers at the University of Toronto Engineering who specialize in synthetic biology are creating personalized stem cells from patient tissues to treat various illnesses. It is expected that such research endeavors will augment the segment expansion.

Regional Snapshots:

By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America dominated the regional market in 2022 with a 41.22% market share. This significant share can be attributed to increased government assistance, beneficial legislation, and also investments in private companies. The growth of the synthetic biology market is fueled by the fact that the US leads the world in research in the areas of proteomics, drug screening & discovery, and genomic structure prediction.

The region of Asia Pacific is predicted to grow at the fastest rate. The market for synthetic biology is expected to grow as a result of a number of factors, including growing partnerships and funding in the Chinese market, increasing investments in Asia Pacific countries, and increasing collaborations in the field. Additionally, a number of Asian nations have lately founded national institutes, state-sponsored research initiatives, and partnerships between academics and business to foster technological innovation for the development of synthetic biology.

List of Companies Profiled:

• Bota Biosciences Inc.
• Codexis, Inc.
• Creative Biogene.
• Creative Enzymes.
• Enbiotix, Inc.
• Illumina, Inc.
• Merck Kgaa (Sigma-Aldrich Co. Llc)
• New England Biolabs
• Euro fins Scientific
• Novozymes
• Pareto Bio, Inc.
• Scarab Genomics, Llc
• Synthego
• Synthetic Genomics Inc.
• Thermo Fisher Scientific, Inc.

Key Industry Developments:

• In January 2023, The DNA synthesis startup Ribbon Biolabs has raised around USD 19.6 million in series A investment. The company used this investment to expand DNA synthesis technologies in the US and to establish commercial-scale production facilities.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Synthetic Biology Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Synthetic Biology Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase:

• To gain insightful analyses of the Synthetic Biology market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Synthetic Biology market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Synthetic Biology market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Synthetic Biology Market:

• Historic year: 2018-2022
• Base year: 2023
• Forecast: 2024 to 2031
• Representation of Market revenue in USD Million

Synthetic Biology Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: