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Synthetic Biology Global Market Report 2023
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.
New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Synthetic Biology Global Market Report 2023" - https://www.reportlinker.com/p06229167/?utm_source=GNW
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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 global synthetic biology market will 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, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The synthetic biology market is expected to grow to $39.12 billion in 2027 at a CAGR of 23.0%.
The synthetic biology market includes revenue earned by synthetic compound, technology and related services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
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.
North America was the largest region in the synthetic biology market in 2022.Western Europe was the second largest region in the synthetic biology market.
The regions covered in the synthetic biology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of synthetic biology are oligonucleotides, enzymes, cloning and assembly kits, xeno-nucleic acids (XNA), and chassis organisms.Oligonucleotides are small single-stranded DNA segments that, when internalized by the cell, can specifically suppress the expression of a single protein.
The various technologies include nucleotide synthesis and sequencing, bioinformatics, microfluidics, and genetic engineering that are applied in pharmaceuticals and diagnostics, chemicals, biofuels, bioplastics, and others.
DNA sequencing is important in the development of the synthetic biology in many ways.DNA sequencing finds its use in many synthetic biology applications, therefore the availability of the DNA sequencing technique at low cost drives the production of products based on the applications of synthetic biology.
DNA sequencing allows the researchers to determine the DNA sequences in genes and helps a researcher to create a repository of entire genomes.These repositories form the basis for the implementation of synthetic biology applications such as protein expression, directed evolution, and metabolic engineering.
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.
The bio-safety risks involved in synthetic biology restrains the synthetic biology market.Synthetic biology involves researches on micro-organism to perform the desired function or produce a biological desired substance.
Such processes possess health risks such as illness, and allergies in humans as well as environmental risks such as toxicity and risk of new micro-organisms affecting living creatures in the ecosystem. Such potential risks pose as a deterrent to possible innovative research that could be done in certain fields such as combating epidemics such as Ebola and life-threatening diseases such as cancer.
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.
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 countries covered in the synthetic biology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The synthetic biology market research report is one of a series of new reports that provides synthetic biology market statistics, including synthetic biology industry global market size, regional shares, competitors with a synthetic biology market share, detailed synthetic biology market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic biology industry. This synthetic biology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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