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MARKET TRENDS IN SYNTHETIC BIOLOGY

Vidhi Punamiya by Vidhi Punamiya
April 4, 2020
in Market
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MARKET TRENDS IN SYNTHETIC BIOLOGY
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The global synthetic biotechnology market reached close to $2.1 billion in 2012, $2.7 billion in 2013. This market grew at a Compounded Annual Growth Rate (CAGR) of 34.4% between 2013 and 2018. And it is projected that this synthetic biotechnology market will reach $19.8 billion by 2025 and stand at $6.8 billion in 2020. This indicated that it will grow at a CAGR of 23.9% in the next 5 years. Over the last decade, $12 Billion have been invested in this space and this amount is fairly expected to rise shortly.

This projected spectacular growth is credited to the following factors

  • Increase in the demand for synthetic genes & synthetic cells
  • The rising range of applications in synthetic biology
  • A significant decline in the cost of DNA sequencing & synthesizing
  • Surging R&D funding initiatives in the sector
  • Increasing investments in the synthetic biology industry.

Key Players in Synthetic Biology Market

The market is supremely huge and there are quite a few prominent companies in the market. Top 10 in the industry 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) and Twist Bioscience (US), Synthetic Genomics, Inc. (US). Thermo Fisher Scientific Inc. (US) dominated the market significantly in 2019.

The global synthetic biology market is segmented as:

Key highlights of 2019

  • In 2019, Oligonucleotides and synthetic DNA segments took up the largest chunk of the synthetic biology market space followed by enzymes. This growth is attributed to the ever-increasing demand for synthetic DNA, synthetic RNA, and synthetic genes for research purposes.
  • On investing grounds, this sector gave attractive Return on Investments (ROI) to the investors.
  • In the technology segment, Gene synthesis accounted for the largest segment owing to the rise in demand for synthetic DNA and its application across various industries to generate processes to facilitate ease and efficiency in genome editing and genome targeting.
  • PURE CANE Brand Sweetener was launched by Amyris, Inc. (US)
  • Cyrus Biotechnology Inc. (US) collaborated with Harvard and MIT to develop a CRISPR gene-editing technology.
  • Amongst the environmental, medical, industrial, and food & agricultural industries, the medical sector was the largest user of synthetic biotechnology.

Projections for the coming years

By 2025, the Asia Pacific region is expected to grow at the highest CAGR- Ideally, in the coming years, the Asia Pacific region will see an increase in the number of pharmaceutical & biopharmaceutical companies owing to low-cost manufacturing facilities. With that, the sector will see an increase in healthcare & life science facilities too. Also, the sector is projected to see international alliances and claim huge government support.

Investment with a difference is going to be the approach when it comes to investment in the synthetic biotechnology sector. The investors are providing a lot more than just money. With their expertise and world-class network circles, they bring a plethora of opportunities for the invested company. But what are they looking for in return? Impact and return for humanity are prominently staging great importance for the investors in the coming years.

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Vidhi Punamiya

Vidhi Punamiya

Vidhi is a full-time freelancer pursuing her passion in content writing. She has handled quite a few projects spanning over various industries from travel to technology.

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