Global Synthetic Biology Market to Reach $26.9 Billion by 2026

SAN FRANCISCO, June 29, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Synthetic Biology - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition:17; Released: April 2021
Executive Engagements: 6233
Companies: 134 - Players covered include Agilent Technologies, Inc; Amyris, Inc; Arzeda; Atum; Eurofins Genomics Blue Heron LLC; Codexis, Inc; Creative Enzymes; Cyrus Biotechnology, Inc; Editas Medicine, Inc; Eurofins Scientific; GENEWIZ, Inc; GeneWorks Pty Ltd; Genscript Biotech Corporation; Ginkgo Bioworks; Integrated Dna Technologies, Inc; New England Biolabs; Novozymes A/S; OriGene Technologies, Inc; Proterro, Inc; Synthego Corporation; Synthetic Genomics, Inc. (SGI); Synthorx, Inc; TeselaGen Biotechnology Inc; Thermo Fisher Scientific, Inc; Twist Bioscience and Others.
Coverage: All major geographies and key segments
Segments: Tool (Oligonucleotides & Synthetic DNA, Enzymes, Cloning Technology Kits, Synthetic Cells, Xeno-Nucleic Acids (XNA), Chassis Organism); Technology (Nucleotide Synthesis & Sequencing, Genome Engineering, Microfluidics, Other Technologies); Application (Pharmaceuticals & Diagnostics, Industrial, Food & Agriculture, Environmental, Other Applications)
Geographies:  World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Global Synthetic Biology Market to Reach $26.9 Billion by 2026
Synthetic biology is an interdisciplinary field of research that utilizes a combination of genetics, biology, engineering, computer science, and chemistry for altering the structure and functioning of microorganisms. Synthetic biology is being used in a wide range of applications, including vaccine, diagnostic test, and drug development, and in food, agriculture, and manufacturing industries. Amid the ongoing COVID-19 pandemic, scientists are looking at synthetic biology as a way to speed up the process of vaccine development. For drug discovery, the enhanced accuracy and speed offered by modern synthetic biology tools can help in significantly accelerating drug development as well as reducing expenses. When a pandemic outbreak occurs far away, as in the case of COVID-19 which was first discovered in the Chinese city of Wuhan, it can take months for laboratories to gain access to physical samples for starting their research. Synthetic biology can help researchers in using a synthetic version of the virus, with which they can start their research without losing critical time. The DNA of this synthetic virus can also be easily manipulated through addition or removal of genes for gaining insight into the specific genes that affect its virulence. Synthetic biology also provides scientists the benefit of rapidly synthesizing clones, DNA fragments, or complete variant libraries for generating several vaccine candidates for COVID-19 is a much shorter period of time.

Amid the COVID-19 crisis, the global market for Synthetic Biology estimated at US$6.8 Billion in the year 2020, is projected to reach a revised size of US$26.9 Billion by 2026, growing at a CAGR of 20.8% over the analysis period. Oligonucleotides & Synthetic DNA, one of the segments analyzed in the report, is projected to record a 26.4% CAGR and reach US$14.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Enzymes segment is readjusted to a revised 24.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.2 Billion in 2021, While China is Forecast to Reach $2.2 Billion by 2026
The Synthetic Biology market in the U.S. is estimated at US$3.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2026 trailing a CAGR of 20.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 22.2% and 22.8% respectively over the analysis period.

The global synthetic biology market has recently been attracting substantial investments from governments, the biotechnology industry, as well as venture capitals and angel investors. Synthetic biology startups have raised more than US$12 billion in funding over the last 10 years, with investments touching US$4 billion in 2019 alone. The investments have been significantly higher in the US as compared to Europe, with Americans aggressively going for land grab whereas Europeans are being traditionally skeptical, and it is too early to ascertain which of two would emerge as the right approach. However, except for companies operating in the plant-based meat space, synthetic biology has not returned on investment yet. While early-stage investments are generally lacking in Europe, the region has a supportive public funding framework for research activities focused on the development of a sustainable bio-based economy. In addition, synthetic biology has been attracting significant industrial attention. Traditionally, bioindustrial companies have delivered attractive returns, leading to industry players focusing on acquiring de-risked assets rather than early-stage. However, there are still a considerable number of companies that are investing in early-stage synthetic biology startups

Cloning Technology Kits Segment to Reach $4.3 Billion by 2026
Global market for Cloning Technology Kits is estimated at US$1.1 Billion in 2020, and is projected to reach US$4.3 Billion by 2026 reflecting a compounded annual growth rate of 23.8% over the analysis period. United States constitutes the largest regional market for Cloning Technology Kits segment, accounting for 36.9% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 25.9% over the analysis period, to reach US$435.4 Million by the close of the analysis period. More

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Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
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SOURCE Global Industry Analysts, Inc.