Synthetic Biology Market Size, Share, Development, Growth and Demand Forecast to 2019
Transparency Market Research Reports incorporated a definite business overview and investigation inclines on "Synthetic Biology Market". This report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector industry structure.
Synthetic biology is a synergistic combination of biology and engineering for the construction of artificial biological system in order to gain desired functions (i.e. to reduce cost or improve efficacy). It comprises nascent technologies that enable synthesis of novel biological parts and organisms that are used in the field of healthcare, chemicals, agriculture and others (biosecurity, R&D and energy and environment). The synthetic biology market is witnessing rapid growth owing to increase in demand for renewable fuels and bio-based chemicals and inexpensive drugs and vaccines that utilizes synthetic biology technologies and products. In addition, participation of various organizations such as BioBricks, DIYbio and SynBERC, for the development of synthetic biology field will further augment the growth of this market during the forecast period. However, high cost and strict regulations to use synthetic biology techniques hampers the growth of this market. The global synthetic biology market is estimated to be USD 1,769.8 million in 2012 and is expected to reach USD 13,375.5 million by 2019, growing at a CAGR of 32.6% from 2013 to 2019.
Synthetic biology market is segmented mainly by products, by technologies and by applications. Synthetic biology, by product segment is classified as core products and enabling products. Core products are further segmented into synthetic DNA, synthetic genes, synthetic cells, XNA and chassis organisms. The synthetic biology market by core products was dominated by synthetic DNA market in 2012 owing to the commercial availability of this product, compared to other synthetic core products expected to be launched in the market in coming years.
Synthetic biology market, by technologies is segmented as genome engineering, DNA sequencing, bioinformatics and biological components and integrated systems. Genome engineering technology can be used to modify genetic foods, gene cloning and gene therapy. Thus, application of genome engineering increases the scope to utilize this technique and hence accentuates the growth of this market.
Applications of synthetic biology are healthcare, chemicals, agriculture and others. Synthetic biology in healthcare holds largest market share in terms of revenue due to high utilization of synthetic biology techniques to produce cheap drugs and vaccines. Also, commercial availability of synthetic DNA and synthetic genes supports the growth of the healthcare application in the synthetic biology market. Agriculture segment is expected to grow at the highest growth rate during the forecast period.
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Europe contributed the largest share of the global synthetic biology market in 2012 and is expected to grow consistently, owing to increasing efforts of government and private organizations towards the development of this field. North America contributed the second largest share of the total market in 2012. Introduction of novel technologies by will help the growth of this market in North America. The Asia-Pacific region is expected to witness the fastest growth due to support of international organizations (e.g. Biotechnology Industry Organization and others) for the growth of synthetic biology in Asia-Pacific.
In terms of key players, the global synthetic biologymarket is highly fragmented with presence of a large number of players that includeBristol Mayer, Gevo, Inc., Life Technologies, DSM, DuPont, Inc., Genomatica, Inc., LS9, Inc.,Amyris, Inc. and others.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.