Synthetic Biology Market Estimated to Reach $21.1 Billion by 2023
According to the Report “Synthetic Biology Market: By Tool (XNAS, Chassis Organisms, Oligonucleotides, etc); By Technology (DNA Synthesis & Sequencing, Computational Modelling, Bioinformatics, Microfluidics, etc); By Application (Environmental, Medical, Industrial, etc); By Geography - (2015-2023)
” published by IndustryARC, the market to reach $21.1 billion by 2023
Synthetic biology is the process of design and fabrication of biological components, parts, devices and systems, the restructuring of natural biological systems for useful purposes. In this case there was no known enzyme, which could perform the reaction required to making enable the biocatalytics route. The term “Synthetic Biology” was first implemented on genetically engineered bacteria that were generated with recombinant DNA technology that was synonymous with bioengineering. Synthetic biology is widely used in different applications include agriculture, biofuel, chemical, food processing, medicine, industrial enzyme, biological electric, personal care, environmental application and others. Synthetic biology make enables life technology to synthesize, design, test, and deploy variants and antigen with quick results and capacity.
The various technologies that are being implemented under the synthetic biology domain to enhance the process efficiency, productivity, reliability and cost reduction are DNA synthesis, DNA sequencing, computational modelling, bioinformatics, microfluidics, nanotechnology, pathway engineering and a few others. Synthetic biology market is set to witness prominent growth owing to the demanding applications of the technology in various field such anti-cancer and anti-tumor drug discovery, efficient biofuel production, enhanced crop productivity, sustainable waste treatment, development of enhanced industrial enzymes and so on.
The overall market is presented from the perspective of different geographic regions and the key countries in each region. Americas is the dominant market for synthetic biology and is estimated to reach $7.94 billion by 2023 at a CAGR of 29.2% during 2017-2023. Owing to the sustainable strategic investment from the U.S. government agencies, synthetic biology will continue to flourish in both basic and applied research in the U.S.
Sample Companies Profiled in this Report are:
- Intrexon Corporation (U.S)
- Thermo Fisher Scientific, Inc. (U.S.)
- Amyris Inc (U.S.)
- GenScript Biotech Corporation (China)
- Synthetic Genomics Inc (U.S.)
Extensive research and adoption of advanced techniques in synthetic biology for future development of human therapeutics is building opportunity for companies operating in the market. With advent of precision medicine, pharmaceutical industry would be able to open a whole new branch of pharmacogenomics which would help in identifying the new targets for early treatment and prevention of diseases.
Browse Related Reports:
- Cell Culture Market: By Type (Primary cell culture, Secondary cell culture) By Industry (Research Institutes, Biotechnology Companies, Pharmaceutical Companies) By Application (Bio Technology, Cancer Research, Tissue Culture & Others) -Forecast (2016-2021)
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.
Mr. Venkateshwar Reddy
Business Development Manager
Contact Sales: 1-614-588-8538 (Ext-101)Connect with us on LinkedIn - https://www.linkedin.com/company/industryarc