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The synthetic biology market is forecasted to achieve exponential growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 26%, as per The Business Research Company’s market report!

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The Synthetic Biology Market Size In 2022 And Forecast

The global synthetic biology market is expected to grow from $10.07 billion in 2021 to $13.11 billion in 2022 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The synthetic biology market is expected to reach $33.63 billion in 2026 at a CAGR of 26.6%.

The synthetic biology market consists of sales of synthetic compound, technology and related services. Synthetic biology is a field of biological science that involve engineering principles.

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Availability Of DNA Sequencing Technique At Low Cost Is Driving The Growth Of The Synthetic Biology Market

According to the World Economic Forum report in 2019, costs per genome sequenced have 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.

Competitive Landscape And The Regional Analysis Of The Synthetic Biology Market

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.

The Synthetic Biology Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the synthetic biologymarket report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the synthetic biologymarket.

Technological Advancement – A Key Trend In The Synthetic Biology Market

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.

Synthetic Biology Market Segmentation By The Business Research Company

1) By Technology: Nucleotide Synthesis And Sequencing, Bioinformatics, Microfluidics, Genetic Engineering

2) By Application: Pharmaceuticals And Diagnostics, Chemicals, Biofuels, Bioplastics, Others

3) By Product Type: Oligonucleotides, Enzymes, Cloning and Assembly Kits, Xeno-nucleic Acids (XNA), Chassis Organism

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Healthcare Services Global Market Report 2022

Bioinformatics Global Market Report 2022

Precision Medicine Global Market Report 2022

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