The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s synthetic biology market report forecasts the synthetic biology market size to grow to $39.12 Billion by 2027, with a CAGR (compound annual growth rate) of 23%.

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Synthetic Biology Market Size Forecast
The global synthetic biology market is expected to grow from $13.11 billion in 2022 to $17.07 billion in 2023 at a compound annual growth rate (CAGR) of 30.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global synthetic biology market is expected to grow to $39.12 billion in 2027 at a CAGR of 23.0%.

North America held the largest synthetic biology market share.

Key Synthetic Biology Market Driver ­– Rise In DNA Sequencing Technique At Low Cost
According to the Human Genome Research Institute, in 2021,, costs per genome sequenced have decreased from $3 billion to approximately $300 million over the past 17 years and are projected to be gradually lowered by 10 times over the next five years.

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Key Synthetic Biology Market Trend – Technological Advancement
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.

Synthetic Biology Market Segment
1) By Technology: Nucleotide Synthesis And Sequencing, Bioinformatics, Microfluidics, Genetic Engineering
2) By Application: Pharmaceuticals And Diagnostics, Chemicals, Biofuels, Bioplastics, Other Applications
3) By Product Type: Oligonucleotides, Enzymes, Cloning and Assembly Kits, Xeno-nucleic Acids (XNA), Chassis Organism

Synthetic Biology Market Major Players and Strategies
Major players in the synthetic biology market are Thermo Fischer Scientific, Genscript, Integrated DNA Technologies, Amyris, Twist Bioscience Corporation, Novozymes, New England Biolabs, Synthetic Genomics, Ginkgo Bioworks, Intrexon, E. I. Du Pont De Nemours and Company, Koninklijke DSM N.V., Codexis, Merck KGaA, Danaher Corporation, EnBiotix, Evonetix, Prokarium, Eurofins Scientific, Origene technologies, Pareto Biotechnologies, Blue heron, Syntrox, ATUM, and DNA2.0.

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.

The Synthetic Biology Global Market Report 2023 covers regional data on synthetic biology market size, synthetic biology market trends and drivers, opportunities, strategies, and synthetic biology market competitor analysis. The countries covered in the synthetic biology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Synthetic biology is a field of biological science that involve engineering principles to redesign organisms to give them new abilities. It is possible to think of synthetic biology as the culmination or the prescriptive, deliberate stage of biology.

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