The global synthetic biology market is segmented on the basis of tools, technologies, applications, and regions. Based on tools, the market is categorized into Xeno-nucleic acids, chassis organisms, oligonucleotides, enzymes, and cloning and assembly kits. Based on technologies, the synthetic biology market is segmented into enabling and enabled technologies, while on the basis of applications; the market is segmented into environmental, medical, and industrial applications.
The report “Synthetic Biology Market by Tool (XNA, Chassis, Oligos, Enzymes, Cloning kits), By Technology (Bioinformatics, Nanotechnology, Gene Synthesis, Cloning & Sequencing), By Application (Biofuels, Pharmaceuticals, Biomaterials, Bioremediation) - Global Forecast to 2018”, published by MarketsandMarkets, analyzes and studies the major market drivers, threats, opportunities, and challenges.
This report studies the global Synthetic Biology Market for the forecast period of 2013 to 2018. This market is expected to reach $5,630.4 Million by 2018 from $1,923.1 Million in 2013, growing at a CAGR of 24% during the forecast period.
North America accounted for the largest share of the synthetic biology market, followed by Europe and Asia. However, the European market is expected to grow at the highest CAGR in the coming five years, and serves as a revenue pocket for the companies involved in the manufacturing of synthetic biology products.
Over the years, the demand for synthetic biology is likely to increase owing to the increasing R&D expenditure in pharmaceutical and biotechnology companies, growing demand for synthetic genes, rising production of genetically modified crops, and incessantly rising funding in the field of synthetic biology. However, ethical and social issues such as bio safety and bio security are major factors that are restricting the growth of this market.
Furthermore, rising concerns over fuel consumption and increasing demand for protein therapeutics are likely to create opportunities for the synthetic biology market. However, standardization and integration of biological parts at system-level still remains a challenge for this market.
Some of the major players in the global Synthetic Biology Market include Amyris, Inc. (U.S.), DuPont (U.S.), GenScript USA, Inc. (U.S.), Intrexon Corporation (U.S.), Integrated DNA Technologies (IDT) (U.S.), New England Biolabs, Inc. (NEB) (U.S.), Novozymes (Denmark), Royal DSM (Netherlands), Synthetic Genomics, Inc. (California), and Thermo Fisher Scientific, Inc. (U.S.).