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The synthetic biology market is projected to reach USD 19.8 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 23.9%

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Factors such as the increasing demand for synthetic genes and synthetic cells, wide range of applications of synthetic biology, declining cost of DNA sequencing and synthesizing, increasing R&D funding and initiatives in synthetic biology, and increasing investments in the market are propelling the growth of this market.

New York, Feb. 13, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Synthetic Biology Market by Tools, by Technology, by Application - Global Forecast to 2025" - https://www.reportlinker.com/p05246309/?utm_source=GNW
However, rising biosafety, biosecurity, and ethical concerns related to synthetic biology is likely to hamper the growth of this market.

The oligonucleotides and synthetic DNA segment is expected to grow at the highest rate during the forecast period.
Based on tools, the market has been segmented into oligonucleotides and synthetic DNA, enzymes, cloning technology kits, chassis organisms, xeno-nucleic acids, and synthetic cells.In 2019, the oligonucleotides and synthetic DNA segment is expected to register the highest CAGR during the forecast period.

This can be attributed to factors such as the rising demand for synthetic DNA, synthetic RNA, and synthetic genes, which are used in a wide range of applications, such as pharmaceuticals, nutraceuticals, personal care, flavors and fragrances, probiotics, green chemicals, and industrial enzymes.

The genome engineering segment is expected to grow at the highest CAGR during the forecast period.
On the basis of technology, the market is segmented into gene synthesis, genome engineering, cloning, sequencing, site-directed mutagenesis, measurement and modeling, microfluidics, nanotechnology, bioinformatics technologies.
The genome engineering segment is expected to register the highest CAGR during the forecast period due to factors such as the increasing use of engineering technologies for manipulating complex genomes, growing therapeutics development for cancer and other diseases, and the increasing technological advances in CRISPR-toolbox and DNA synthesis technologies.

The industrial applications segment is expected to grow at the highest CAGR during the forecast period.
Based on application, the synthetic biology market is segmented into medical, industrial, food & agricultural, and environmental applications. The industrial applications segment is expected to grow at the highest CAGR owing to the rising applications of synthetic biology in producing renewable energy, biomaterials & green chemicals, and enzymes.

The Asia Pacific is projected to witness the highest growth during the forecast period.
The synthetic biology market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.In 2019, North America accounted for the largest share of the synthetic biology market.

However, the APAC region is expected to witness the highest growth during the forecast period owing to the growth in the number of pharmaceutical & biopharmaceutical companies, the increasing number of healthcare & life science facilities, and increasing requirements for regulatory compliance in pharmaceutical and biopharmaceutical companies, growing number of international alliances, heavy funding for synthetic biology research, and strong government support. Furthermore, the increasing focus on the Asia Pacific markets due to their low-cost manufacturing advantage also provides growth opportunities for manufacturers.

A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1–35%, Tier 2–45%, and Tier 3– 20%
• By Designation: C-level–35%, Director-level–45%, and Others–20%
• By Region: North America–45%, Europe–30%, Asia Pacific–20%, Latin America–3%, and the Middle East & Africa–2%

The prominent players in the synthetic biology market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Novozymes A/S (Denmark), Ginkgo Bioworks (US), Amyris, Inc. (US), Intrexon Corporation (US), GenScript Biotech Corporation (China), Twist Bioscience (US), Synthetic Genomics, Inc. (US), Codexis, Inc. (US), Synthego Corporation (US), Creative Enzymes (US), Eurofins Scientific (Luxembourg), Cyrus Biotechnology Inc. (US), ATUM (US), TeselaGen (US), Arzeda (US), Integrated DNA Technologies, Inc. (US), and New England Biolabs (US).

Research Coverage:
The report analyzes the market for various synthetic biology market and their adoption patterns.It aims at estimating the market size and future growth potential of the synthetic biology market and its subsegments.

The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.

This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the synthetic biology market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the synthetic biology market
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the synthetic biology market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Read the full report: https://www.reportlinker.com/p05246309/?utm_source=GNW

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