Synthetic Biology Market is Expected to Reach $38.7 Billion, Globally, by 2010 – Allied Market Research
PORTLAND, Oregon, May 27, 2014 /PRNewswire/ –
According to a new report by Allied Market Research, titled “Global Synthetic Biology
Market (Products, Technologies, Applications and Geography) – Global Opportunity Analysis
and Forecast – 2013 – 2020″, the global synthetic biology market is forecast to reach
$38.7 billion by 2020, at a CAGR of 44.2% during the forecast period (2014 – 2020). Europe
occupies largest share in the global market and would hold-on to its position throughout
2020. However, Asia Pacific is the fastest growing market with a CAGR of 46.4% from 2014 -
Synthetic biology is at a nascent stage and has recently entered the commercial
market. Many technologies that utilize synthetic biology are yet to be commercialized, and
are waiting for approvals from the respective regional regulatory bodies. However, this
market is expected to witness adoption in varied domains, with chemicals, pharmaceuticals,
energy and agriculture, as some major application markets. Key factors fueling the growth
of this market include assistance from government and private organizations, rising number
of entities conducting research and declining cost of DNA sequencing and synthesizing.
Bio-safety & bio-security and ethical issues are key restraining factors of the market.
The fact that synthetic biology can be misused has raised concerns all around the world.
However, as far as the market dynamics are considered, the bottom line is that the overall
impact of these factors would be highly positive.
To view the complete report, visit the website at
Global synthetic biology market is segmented based on product, technology,
application, and geography. Synthetic biology product market is further segmented into
enabling products, enabled products and core products. Enabling product is the fastest
growing segment in the product market due to ongoing researches that may bring-innovative
ideas for application of synthetic biology in new fields. Thus, the need for enabling
products, during R&D activities and in the development of enabled products, would rise.
DNA synthesis is the largest segment within enabling products segment, whereas
oligonucleotide synthesis is expected to be fastest growing market at 57.8% CAGR during
2014 and 2020. Chassis organism would be the fastest growing core product during the
forecast period with synthetic DNA occupying largest market share. Other core products
included in the study are synthetic genes, synthetic sells, and XNA. Biofuels, within
enabled product segment, is expected to exhibit tremendous growth; registering a CAGR of
110.1% during forecast period. However, synthetic biology-based pharmaceuticals and
diagnostics products will generate largest amount of revenue within enabled product
segment followed by agriculture and chemicals sub-segments.
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Synthetic biology technology market is segmented into enabling technology and enabled
technology. Enabling technologies segment is growing speedily, with a CAGR of 48.6% during
the forecast period. The market by application includes research & development, chemicals,
agriculture, pharmaceuticals & diagnostics, biofuels and others. Biofuels is the fastest
growing segment during the forecast period. In terms of geography, Europe is the largest
revenue-generating segment, whereas Asia Pacific would experience the highest growth rate
during the forecast period.
Browse all diagnostics and Biotech market report at
Competitive analysis of the companies reveals that most of the companies are
concentrating on agreements followed by product launch for the expansion of their
business. Synthetic biology is a novel technology and the value chain of a product
manufacturing includes steps that require collaborative efforts by two or more companies.
This is the key reason for agreements among the companies. Most of the agreements were
related to the development of products for chemical industries, followed by biofuels and
synthetic genes industries. Product launch holds second highest share in strategies
adopted by key players accounting for about 32% of the strategic moves by key companies.
Companies profiled in the report include BASF, GEN9 Inc., Algenol Biofuels, Codexis Inc.,
Gensript Corporation, Dupont, Butamax Advanced Biofuels, BioAmber, BioSearch Technologies,
Inc., Origene Technologies, Inc. and Synthetic Genomics, Inc.
Market Segments Covered
Synthetic Biology Market by Products
Synthetic Biology Market by Technology
DNA synthesis & sequencing technologies
Biological components and integrated systems technologies
Synthetic microbial consortia
Synthetic Biology Market by Application
Research & Development
Pharmaceuticals & Diagnostics
Others (Environment, Biotechnology & Biomaterials, etc.)
Synthetic Biology Market by Geography
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