Rapid Growth of the Synthetic Biology Industry
Synthetic biology is simply the application of engineering ideas to biological systems. It refers to the creation of new biological entities such as enzymes, genetic circuits, and cells and the redesign of existing biological systems.
It draws on molecular, cell, and systems biology discoveries, aiming to transform biology in the same way that synthesis changed chemistry and integrated circuit design changed computing.
Market Size and Forecast
In 2024, the Global Synthetic Biology Market was valued at $19.33 billion and is expected to increase and reach to $49.67 billion by 2030.
The global market is expected to grow at an approximate CAGR of 17.04% during the forecasted period 2025-2030.
The market growth is driven by advancements in biotechnology, increasing demand for sustainable solutions, technological advancements in the life science sector, and expanding applications across various industries.
Market End-Use Statistics
In 2024, the largest segment in the End-Use share of Synthetic Biology market was Biotechnology & Pharmaceutical Companies at 55%, followed by Academic & Research Institutes at 25%, and Others at 20%.
Biotechnology and pharmaceutical firms are extensively investing in cell programming platforms, therapeutic pipelines, and synthetic biology R&D to expand portfolios and acquire competitive advantages, propelling the global industry forward.
Market Technology Insights
In 2024, the PCR Technology segment dominated the synthetic biology market, accounting for 28.1% of the total market share. The NGS Technology segment accounted for 21.9% followed by Genome Editing and Bioprocessing technologies.
PCR cloning can be used for both gene cloning and DNA recombination. The capacity of NGS technology to synthesize DNA sequences from the start and recent technologies such as CRISPR/Cas9 allow for the targeted insertion of DNA sequences into living cells.
Products Market Statistics
In 2024, the largest segment in the Product share of Synthetic Biology market was Oligonucleotide/Oligo Pools & Synthetic DNA at 35.8%, followed by Enzymes and Cloning Technologies Kits at 25.0% and 20.0%
Oligonucleotides are the focal point of many synthetic and molecular biology applications.
The key segment drivers include increased use of targeted NGS, DNA computing, mutagenesis research, and CRISPR gene editing.
Application Market Insights
In 2024, the Healthcare segment dominated the synthetic biology market, accounting for 57.3% of the global synthetic biology market share. The Non-Healthcare segment accounted for 42.7%.
Synthetic biology diagnostics offer sensitive, specific, real-time, and non-invasive detection of pathogens, cancer cells, and drugs.
Researchers use engineered biosensors with built-in sensors, processors, and reporters. Rising neurological disorders such as multiple sclerosis are also fueling market growth.
Stay tuned to Innovius Research for ongoing market insights and data-driven analysis.
Data Sources: RootsAnalysis, IMARCGroup, Biospace, Grandview Research, Nova1Advisor, Precedence Research and others
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