22 February 2021
Visiongain has published a new report on Synthetic Biology Market Report 2021-2031: Forecasts By Product Type (Oligonucleotides, Enzymes, Cloning Technology Kits, Synthetic Cells, Synthetic Genes, Synthetic DNA, Synthetic Clones, Chassis Organisms, Xeno-Nucleic Acids, and Others), By Technology (Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Cloning, Site-Directed Mutagenesis, Measurement & Modeling, Microfluidics, Nanotechnology, and Others), By Application (Medical Applications, Pharmaceuticals, Industrial Applications, Food & Agriculture, Environmental Applications, and Others), By Patient Demographics (Adults, Geriatric, and Pediatric), By End User (Medical Industries, Industrial Industries, Food & Agriculture Industries, Environmental Industries, and Others), By Distribution Channel (Direct Tender, and Retail Sales)PLUS Profiles of Leading Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Synthetic Biology was valued at US$ xx Million in 2020 and is projected to reach at a market value of US$ xx Million by 2031. North America dominated the global Synthetic Biology and is projected to witness CAGR of XX% during the first half of the forecast period i.e. 2021 to 2031.
COVID-19 Impact on Synthetic Biology
COVID-19 impact through different recovery models such as V-shaped, U-shaped, W-shaped, and L-shaped; has been taken into consideration while estimating and forecasting the Synthetic Biology. Different recovery scenarios are also included in the report for all the segments and regions/nation. The recovery scenarios based on which market has been forecasted and analysed herein the report are mentioned below:
Rising Funding and Growing Initiatives in Synthetic Biology
There is a very rapid increase in demand for synthetic biology around the world. Recently, the market has reported a sudden rise in the demand of synthetic biology along with increasing regulatory approvals, funding and growing initiatives. Various manufacturers have increased their funding for synthetic biology and on the other hand many manufacturers have launched their product portfolios in synthetic biology which have helped to fulfil demand and work as drivers for the market.
Increasing Geriatric Population around the World
An increasing in geriatric population is suffering from chronic and non-chronic disease. All regions are facing a huge increase in the number of geriatric populations. For instance: According to the United Nations, Department of Economic and Social Affairs, the Population Division geriatric population (persons aged 65 or over) was 702.9 million in 2019. Rapid increase in the number of the geriatric population around the globe is also increasing demand for synthetic drugs and vaccines around the world. Due to this increasing geriatric population around the world is working as a market driver for synthetic biology.
Increasing Research in Synthetic Drugs and Vaccines
Researchers and pharmaceutical manufacturers from all over the world are increasing their focus on research and development for synthetic drugs and vaccines and are taking required steps to create synthetic drugs and vaccines. Researcher and pharmaceutical manufacturing in developing nations are undergoing tumultuous research and development from the last few years and each change is only for synthetic drugs and vaccines. Increasing focus on synthetic drugs and vaccines is expected to increase the number of synthetic drugs and vaccines which are expected to create new opportunities for synthetic biology. Due to this reason the factor is creating various opportunities for synthetic biology.
Top companies (Shire plc (Thermo Fisher Scientific, Inc., Merck Kgaa, and Agilent Technologies, Inc.) constitute more than XX% share of the global Synthetic Biology. Other companies profiled in the report include: Novozymes A/S, Ginkgo Bioworks, Amyris, Inc., Intrexon Corporation, Genscript Biotech Corporation, Twist Bioscience, Synthetic Genomics, Inc. (SGI), Codexis, Inc., Synthego Corporation, Creative Enzymes, Eurofins Scientific, Cyrus Biotechnology, Inc. Some of the key developments are listed below:
● In 2019, Agilent Technologies acquired BioTek Instruments for $1.17 billion. BioTek Company is indulge in designing, manufacturing, and marketing of instruments for the life science industry, including microplate readers, cell imaging systems, dispensers, washers, automated incubators, and stackers. The acquisition will help the company to expand its synthetic biology portfolio.
● In 2018, Precigen, Inc., has built a new manufacturing facility for gene therapy manufacturing. Precigen, Inc., is a clinical stage biopharmaceutical company which is specialized in the innovative development of gene and cellular therapies. The new facility will help the company to increase its market presence in the synthetic biology market.
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