Major players in the synthetic biology market are Thermo Fischer Scientific, Genscript, Integrated DNA Technologies, Amyris and Twist Bioscience Corporation.
The global synthetic biology market is expected to grow from $8.64 billion in 2020 to $10.07 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $28.91 billion in 2025 at a CAGR of 30.2%.
The synthetic biology market consists of sales of synthetic compound, technology and related services. Synthetic biology is a field of biology science which involve engineering principles.
The synthetic biology market covered in this report is segmented by technology into nucleotide synthesis and sequencing, bioinformatics, microfluidics, genetic engineering. It is also segmented by application into pharmaceuticals and diagnostics, chemicals, biofuels, bioplastics, others and by product type into oligonucleotides, enzymes, cloning and assembly kits, xeno-nucleic acids (XNA), chassis organism.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The bio-safety risks involved in synthetic biology restrains the synthetic biology market.Synthetic biology involves researches on micro-organism to perform the desired function or produce a biological desired substance.
Such processes possess health risks such as illness, allergies in humans as well as environmental risks such as toxicity and risk of new micro-organisms affecting living creatures in the ecosystem. Such potential risks pose as a deterrent to possible innovative research that could be done in certain fields such as combating epidemics such as Ebola and life-threatening diseases such as cancer.
In March 2020, Zymergen, a California based material innovation company rethinking biology and reimagining the world acquired enEvolv, Inc. for an undisclosed amount. This acquisition speeds Zymergen delivery of high performance and sustainable products to customers and further cements Zymergen leadership position in the bio-manufacturing space. enEvolv, Inc, a next-generation synthetic biology company that has developed an enzyme and strain development platform to harness the power of evolution and create unique, commercial products by engineering the genomes of microbes.
DNA sequencing is important in development of the synthetic biology in many ways.The DNA sequencing finds its use in many synthetic biology applications, therefore the availability of the DNA sequencing technique at low cost drives the production of products based on the applications of synthetic biology.
DNA sequencing allows the researchers to determine the DNA sequences in genes and helps a researcher to create a repository of entire genomes.These repositories form the basis for the implementation of synthetic biology applications such as protein expression, directed evolution, and metabolic engineering.
According to the World Economic Forum report in 2019, costs per genome sequenced have been decreased from $3 billion to less than $1,000 over the past 15 years and are projected to be gradually lowered by 10 times over the next five years.
The new technological advances in the field of DNA sequencing has enabled the researchers to use DNA to store non-genetic information.With the rise in the demand to store quantum of data, DNA data storage offers a solution where one DNA strand can store about 455 Exabyte of data (455 billion gigabytes).
Thus, the concept has received huge investments from the entities in the market.The binary data (data coded in 0O and 1) is converted into DNA strings of four potential base units of unique sequences of A, G, C, T (DNA is made up of four base components: Adenine, Guanine, Cytosine, and Thymine (known as AGCT)).
The information coded in DNA lasts for thousands of years when compared to the data in traditional hard drives which gets corrupted or damaged within 30 years. For instance, according to a journal published by Nature Publishing Group, Microsoft and University of Washington researchers stored 35 distinct digital files in DNA—more than 200 megabytes of data and plans to increase future investment to improve the technology.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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