Global Synthetic Biology Market By Product Type (Core Products, Enabling products, Enabled products), By Technology (DNA Sequencing, Genome Engineering and Others), By Application (Agriculture, Chemicals and Others) and By Regions - Global Forecast 2030

“Global Synthetic Biology Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global synthetic biology market has been segmented on the basis of product, type, material, end-user, as well as regions and countries.

The Global Synthetic Biology Market was valued at UЅD $8,241.2 Мn in 2020, and is projected to achieve a valuation of UЅD $40,559.8 Мn by 2030, at a САGR of 20.6%.

Overview:

Synthetic biology is a multidisciplinary area of research that seeks to create new biological parts, devices, and systems, or to redesign systems that are already found in nature.

Dynamics:

The steady adoption of synthetic biology in the fields of drug discovery, pharmaceuticals, and therapeutics is augmenting development in the biomedicine industry, as it allows for the enhanced production capacity of various medicines and lowers wastage levels. This is a primary factor that is anticipated to boost opportunities for future market growth of the global synthetic biology market. Moreover, numerous industries such as healthcare, food & beverage, etc., are increasingly utilizing synthetic biology for various applications to improve products and processes. This surge in demand is also a major factor that is anticipated to continue to fuel the revenue growth of the global synthetic biology market over the next 10 years.

Rapid industrialization and urbanization due to booming global populations are expected to increase the global per capita energy consumption levels, resulting in the increased applications of synthetic biology in the energy sector. This is another factor that is slated to positively contribute to the revenue growth of this global industry in the years to come.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global synthetic biology market is no different, and this factor is initially anticipated to have a negative impact on the revenue growth of this industry. In addition, the testing and the construction process of biological systems is an irregular and complex endeavor. This is a factor that may also hamper the revenue growth of the global synthetic biology market in the foreseeable future.

Nevertheless, the increasing focus of key market players on the development of various technological advancements aimed at the production of cost-effective vaccines is another major factor that is expected to further augment opportunities for market growth over the next 10 years.

Segmentation of the Global Synthetic Biology Market is as follows:

In terms of product type, the enabled products segment accounted for the maximum number of revenue shares of the global synthetic biology market in 2020, and this segment is expected to continue doing so over the next decade. The core products segment is also anticipated to index considerable revenue growth over the forecast period.

On the basis of application, the agriculture segment accounted for the maximum number of revenue shares of the global synthetic biology market in 2020, and this segment is slated to continue to do so over the next 10 years. The healthcare segment is also expected to register considerable revenue growth over the forecast period.

With respect to technology, the DNA sequencing segment accounted for the highest number of revenue shares of the global synthetic biology market in 2020, and is expected to continue to do so for the remainder of the forecast period. However, the genome engineering segment is anticipated to index the highest CAGR over the next 10 years.

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global synthetic biology market in 2020, and is indicative of retaining its respective market position over the next decade. However, the markets in the Asia Pacific region are anticipated to index the highest CAGR over the course of the forecast period.

Segmentation of the Global Synthetic Biology Market:

Segmentation by Product Type:

• Core Products
• Enabling products
• Enabled products

Segmentation by Application:

• Agriculture
• Chemicals
• Bio-fuels
• Healthcare
• Other Applications

Segmentation by Technology:

• DNA Sequencing
• Genome Engineering
• Biological Components and Integrated Systems
• Bioinformatics

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA