Industry Insights
Synthetic biology market is expected to grow over the forecast period
owing to the increasing uses of environmental applications such as
biodegradation, contaminants, detection of environmental pathogens,
distinct chemicals immobilization, and bio-transformation.
The other growth drivers of this market are lifestyle induced
diseases such as obesity & diabetes, molecular biology advancement,
increase demand for biofuels, sophisticated healthcare infrastructure,
increasing geriatric population rising demand for improved drugs and
vaccines, due to increasing population demand for genetically modified
crops are also rising and awareness. These factors are expected to drive
the market over the forecast period.
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Synthetic biology refer as introduction of novel engineering systems,
biological based parts, devices and redesigning of existing biological
parts. Biological systems production can be increased with the help of
new preferred functions by developing genetically modified organisms.
Bioscience has witnessed the revolution by the introduction of synthetic
biology as it makes new biological parts, systems and devices with the
help of engineering principles. In commercial market, synthetic biology
is in nascent stage as it is newly introduced in it.
Grocery and departmental store shelves contains the consumer products
of which ingredients made by using advanced form of engineering.
Synthetic biology market apart from its original aim .i.e. manufacturing
of biofuels has recently extended its function in the area of
industries such as cosmetics, flavorings and scents. Due to
deforestation and habitat destruction there is a huge pressure on
ecosystem, so with the help of molecular biology and industrial
fermentation procedure are used in the production of renewable algal
oils which will reduce the pressure on ecosystem.
Under life sciences, the most vital role of synthetic biology is the
development of cheap synthesis procedure. With the help of synthetic
biology there has been development in sources of green energy,
improvement of food crops, medicines and bio based chemicals. Due to the
decrease in the price of DNA sequencing the cost of data generation has
fallen drastically. Synthetic biology market has a huge opportunity
over the forecast period owing to various investments by the government
in this sector.
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Product Insights
Synthetic biology market is segmented on the basis of product types
into DNA synthesis, enabling product oligonucleotide synthesis, chassis
organisms XNA, synthetic cells, synthetic DNA, synthetic genes, and core
product. Among these, synthetic DNA held the largest market share in
2013 owing to high commercialization and more R&D.
Application Insights
Synthetic biology market is segmented on the basis of application
into energy & environment, biosecurity, R&D, healthcare, bio
fuels, chemicals, and agriculture. Among these, healthcare application
held the largest market share in 2013, owing to effective production of
nutraceuticals for preservatives, vitamins and supplements, new
therapeutic method, reprogramming stem cells, and regenerative medicine.
Technology Insights
Synthetic biology market is segmented on the basis of technology into
bioinformatics, integrated systems, biological components, genome
engineering, and DNA sequencing. Among these, genome engineering held
the largest market share in 2013, owing to its developed strategies and
techniques.
Regional Insights
Geographically, the synthetic biology market is studied with respect
to four regions such as Asia Pacific, Europe, North America, and RoW.
Among these, North America is dominating the whole market in 2013, as it
has presence of technologically updated systems, strong research &
development, various government initiatives & programs and high
patient awareness levels in this region. The growing economies in Asia
Pacific such as India and China region are expected to witness lucrative
growth over the forecast period owing to the rising healthcare
expenditure, and awareness about the hospital acquired infection.
Competitive Insights
The major market players in the synthetic biology market are New
England Biolabs, Inc., Cobalt Technologies, DuPont, Inc., Evolva SA,
Exxon Mobil Corporation, Ginkgo Bioworks, GeneWorks Pty Ltd., Gene
Script Corporation, Biosearch Technologies, Inc., Bristol-Myers Squibb,
Bioneer Corporation, CBC Comprehensive Biomarker Center GmbH,
ATG:biosynthetics GmbH, Bayer AG, Algenol Biofuels, Inc., Agrivida,
Inc., Amyris Inc.
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