(MENAFN- pr newswire) dublin, june 30, 2023 /prnewswire/ -- the
"synthetic biology market size, share & trends analysis report by product, by technology, by application, and segment forecasts, 2023-2032" report has been added to
researchandmarkets's offering.
the global synthetic biology market size is expected to reach usd 71.51 billion by 2032, according to a new study. the report gives a detailed insight into current market dynamics and provides analysis on future market growth.
rising demand for synthetic biology will rise as a result of the growing number of applications for therapeutic genome editing, multiplexed diagnostics, and cellular recording. the use of products made using synthetic biology methods in fields like energy and chemicals is also likely to have an impact on the market's overall development.
due to the covid-19 outbreak, the use of synthetic biology goods has increased over the past two years. many significant pharmaceutical and biotechnology companies, as well as players in the synthetic biology industry, have increased their research efforts globally by adopting new techniques for developing test kits, therapies, and vaccines for covid-19. one of the emerging technologies is synthetic biology, according to a study from the european parliament.
the global market is expected to grow as research and development efforts are expanded across a variety of disciplines. in order to increase the utilisation of cheap inputs like waste and enhance performance of conventional biofuel production, players are using synthetic biology methods.
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artificial intelligence (ai)/machine learning has lately emerged as a viable alternative to systems biology for the explanation of biological phenomena and the achievement of specific design goals in synthetic biology. similar efforts to enhance and automate analysis and decision-making in these fields can be seen in the development of machine learning (ml) and artificial intelligence (ai) tools and methods currently being made in the biological and biotechnological fields. ai/ml is still a good choice for analysing system behaviour and boosting interest in synthetic biology applications.
synthetic biology market report highlights
the oligonucleotide/oligo segment dominated the market in 2022. oligonucleotides are the primary component in many molecular and synthetic biology applications. the growing use of targeted ngs, mutagenesis research, dna computing, and crispr gene editing are the primary market drivers for the same. the pcr market segment held the highest market share in 2022. the polymerase chain reaction is one of the most crucial instruments for the identification and analysis of specific gene sequences. (pcr).
market segmentation
by product
oligonucleotide/oligo pools and synthetic dna enzymes cloning technologies kits xeno-nucleic acids chassis organism
by technology
ngs technology pcr technology genome editing technology bioprocessing technology other technologies
by application
healthcare non-healthcare
market dynamics
drivers and opportunities
funding and assistance from government and private organization growing research and development activities in synthetic biology
restraints and challenges
ethical issues and unintended consequences
companies mentioned
biosciences inc. codexis inc. creative biogene creative enzymes enbiotix inc. illumina inc. merck kgaa (sigma-aldrich co. llc) new england biolabs euro fins scientific novozymes pareto bio inc.
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