Synthetic Biology Market ,The high growth rate can be attributed to the wide range of applications of synthetic biology, rising R&D funding and initiatives, increasing demand for synthetic genes and synthetic cells, and increasing investments in synthetic biology companies. Factors such as rising concerns regarding fuel consumption and increasing demand for protein therapeutics are expected to offer lucrative opportunities for players in the global market.
Synthetic Biology Market, by Tool
• Cloning Technology Kits
• Chassis Organisms
• Xeno-nucleic Acids (XNO)
Based on region, the synthetic biology market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2017, North America is estimated to account for the largest share of the global market. Regarding growth rate, Europe is expected to register the highest growth rate from 2017 to 2022. Factors such as increasing investments for the adoption of adoption of novel synthetic biology technologies, rising R&D funding and collaborations are driving the growth of the market in this region.
Synthetic Biology Market, by Technology
• Gene Synthesis
• Genome Engineering
• Cloning and Sequencing
• Next-generation Sequencing
• Site-directed Mutagenesis
• Measurement and Modeling
While the overall market is expected to grow at a high rate, possible environmental and security issues related to synthetic biology is likely to restrain the growth of this market to a certain extent.
Synthetic Biology Market, by Application
• Medical Applications
○ Drug Discovery & Therapeutic
○ Artificial Tissue and Tissue Regeneration
• Industrial Applications
○ Biofuels & Renewable Energy
○ Biomaterials & Green Chemicals
○ Industrial Enzymes
• Food and Agriculture
• Environmental Applications
The major players in the global synthetic biology market include Thermo Fisher (US), Novozymes (Denmark), Merck KGaA (Germany), Intrexon (US), and Agilent Technologies (US), among others.