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IMARC Group, a leading market research company, has recently releases report titled“ Synthetic Biology Market Report by Product (Oligonucleotide/Oligo Pools and Synthetic DNA, Enzymes, Cloning Technologies Kits, Xeno-nucleic Acids, Chassis Organism), Technology (NGS Technology, PCR Technology, Genome Editing Technology, Bioprocessing Technology, and Others), Application (Healthcare, Non-Healthcare), and Region 2024-2032 “, Offers a comprehensive analysis of the industry, which comprises insights on the market.
How Big is the Synthetic Biology Market?
The global synthetic biology market size reached US$ 16.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 62.0 Billion by 2032, exhibiting a growth rate (CAGR) of 15.9% during 2024-2032.
Industry Overview of Synthetic Biology
Synthetic biology refers to an interdisciplinary field that combines principles from engineering, biology, computer science, and other disciplines to design and construct novel biological systems, pathways, and organisms with enhanced or new functionalities. It involves modifying the genetic makeup of an organism by adding, deleting, or altering genes to achieve specific outcomes, such as improved traits or functions. It enables the production of renewable biofuels, biodegradable materials, and environmentally friendly chemicals. It also plays a role in developing personalized medicine through genetic engineering.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/synthetic-biology-market/requestsample
What are the growth prospects and trends in the synthetic biology industry?
At present, the increasing demand for synthetic biology, as it offers a new way of exploring biological systems, leading to the discovery of novel pathways and mechanisms, represents one of the crucial factors impelling the growth of the market. Besides this, the rising advancements in gene editing technologies, such as CRISPR-Cas9 enabling targeted genetic modifications in a wide array of organisms, are contributing to the growth of the market.
In addition, the growing interdisciplinary collaborations between biologists, engineers, and computer scientists to design and construct biological components and systems with greater efficiency and predictability are offering a favorable market outlook.
Apart from this, the rising demand for biofuels as a sustainable alternative to various fossil fuels, which are responsible for causing air pollution, is supporting the growth of the market.
Leading Companies Operating in the Global Synthetic Biology Industry: Agilent Technologies Inc. Amyris Inc. Codexis Inc. Danaher Corporation Eurofins Scientific GenScript Biotech Corporation Illumina Inc. Merck KGaA New England Biolabs Synthego Corporation Thermo Fisher Scientific Inc. Twist Bioscience Viridos Inc.
Synthetic Biology Market Report Segmentation: The report has segmented the market into the following categories:
Breakup by Product:
Oligonucleotide/Oligo Pools and Synthetic DNA Enzymes Cloning Technologies Kits Xeno-nucleic Acids Chassis Organism
Breakup by Technology:
NGS Technology PCR Technology Genome Editing Technology Bioprocessing Technology Others
Breakup by Application:
Healthcare Clinical Non-Clinical/Research
Non-Healthcare Biotech Crops Specialty Chemicals Bio-Fuels Others
Regional Insight:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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