(MENAFN- GlobeNewsWire - Nasdaq) New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gene Synthesis Market Global Market Report 2023" -
, Thermo Fisher Scientific Inc., Integrated DNA Technologies Inc., OriGene Technologies Inc., GenScript Corp., Eurofins Scientific SE, Merck KGaA, Codex DNA, Genewiz Inc., and Eurofins Genomics LLC.
The global gene synthesis market is expected to grow from $2.32 billion in 2022 to $2.80 billion in 2023 at a compound annual growth rate (CAGR) of 20.43%.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, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $5.81 billion in 2027 at a CAGR of 20.05%.
The gene synthesis market includes revenues earned by entities by providing custom gene synthesis services, selling pre-made DNA constructs, genetic engineering, vaccine development, antibody discovery, protein engineering, licensing technology, forming partnerships, and collaborating on research projects.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.
Gene synthesis refers to chemically synthesizing a strand of DNA (deoxyribonucleic acid) base-by-base. Gene synthesis can be used for a variety of applications including creating recombinant DNA molecules, protein engineering, gene therapy, and synthetic biology.
North America was the largest region in the gene synthesis market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the gene synthesis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main methods of gene synthesis include solid-phase synthesis, chip-based synthesis, and PCR-based enzyme synthesis.Solid-phase synthesis is the synthesis of chemical compounds whereby the reactant molecule is chemically bound to an insoluble material and reagents are added in the solution phase.
It includes various gene synthesis services, such as antibody DNA synthesis, viral DNA synthesis, and others that are used in various applications such as gene and cell therapy development, vaccine development, disease diagnosis, and others. It is used by different end-users such as biotechnology and pharmaceutical companies, academic and government research institutes, and contract research organizations.
The increased prevalence of chronic infectious diseases is expected to propel the growth of the gene synthesis market going forward.Chronic infectious diseases are illnesses caused by pathogens that persist in the body for a long time, often for years or even a lifetime.
Gene synthesis can help reduce infectious diseases by enabling the development of new vaccines, diagnostics, and therapeutics that are specific to particular pathogens.This approach has the potential to be faster, more effective, and more targeted than traditional approaches, and has the potential to help control outbreaks of infectious diseases.
For instance, according to the World Health Organization, a Switzerland-based agency of the United Nations responsible for international public health, a total of 1.6 million people died from TB (tuberculosis) in 2021. Worldwide, TB is the 13th leading cause of death and the second leading infectious killer after COVID-19 (above HIV/AIDS). Therefore, the increase in the prevalence of chronic infectious diseases is driving the growth of the gene synthesis market.
Technological advancements are the key trends gaining popularity in the gene synthesis market.Companies operating in the gene synthesis market are adopting new technologies to sustain their position in the market.
For instance, in June 2021, DNA Script SAS, a DNA printing pioneer based in France, released their SYNTAX platform, which is a benchtop nucleic acid printer powered by Enzymatic DNA Synthesis (EDS) technology.The SYNTAX System is a fully integrated, automated printer that synthesizes 96 DNA oligos simultaneously, each of which can be up to 60 nucleotides long, and delivers them suitable for use in molecular biology and genomics processes.
The uniqueness of this product is its fast and efficient results, the SYNTAX System creates 20mers in about 6 hours, providing same-day results, and can produce up to 60mers in about 13 hours, which could efficiently run overnight.
In March 2021, Integrated DNA Technologies Inc. (Danaher Corporation), a US-based biotechnology research company acquired Swift Biosciences Inc. for an undisclosed amount. With the acquisition of Swift Biosciences Inc., IDT will be able to offer a broader range of NGS (next-generation sequencing) products and services to its customers, including targeted sequencing solutions and other innovative NGS technologies. Swift Biosciences Inc. is a US-based biotechnology company that specializes in next-generation sequencing (NGS).
The countries covered in the gene synthesis market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The gene synthesis market research report is one of a series of new reports that provides gene synthesis market statistics, including the gene synthesis industry's global market size, regional shares, competitors with a gene synthesis market share, detailed gene synthesis market segments, market trends and opportunities, and any further data you may need to thrive in the gene synthesis industry. This gene synthesis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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