Market Analysis and Size

Synthetic biology is an environmentally benign technology that has gained appeal for hazardous clean-up projects including synthetic microbes to digest refractory substances such as dioxins, insecticides, and even radioactive materials. Synthetic biology aids in the stabilisation of price growth in the medical industry, which drives up demand for this market.

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DNA synthesis technology and clustered regularly interspaced short palindromic repeats approaches have helped to lower the incidence of chronic diseases like cancer and diabetes. Biomedical, pharmaceutical, agricultural, biofuel, and chemical industries are all key users of this technology. Farmers can grow more crops on less area with synthetic biology, and it delivers more accuracy and perfection than prior gene technologies.

According to the lastest report published by MarketsandMarkets, "Synthetic Biology Market by Tools (Oligonucleotides, Enzymes, Synthetic Cells), Technology (Genome Engineering, Bioinformatics), Applications (Tissue Regeneration, Biofuel, Food, Agriculture, Consumer Care, Environmental)- Global Forecast to 2027, the global synthetic biology market size is projected to reach USD 35.7 billion by 2027 from 11.4 billion in 2022, at a CAGR of 25.6% during the forecast period. View detailed Table of Content here https://www.marketsandmarkets.com/Market-Reports/synthetic-biology-market-889.html

Factors such as diversified applications of synthetic biology, rising RD funding and growing initiatives in synthetic biology, declining cost of DNA sequencing and synthesizing, and increasing investments in the market are propelling the growth of this market.

Asia Pacific is likely to grow at higher double digit during the forecast period.

The Asia Pacific region is estimated to grow at the highest CAGR in the synthetic biology market during the forecast period, this is mainly due to factors such the increasing investment in research development, emergence of new market players in synthetic biology market.

Key Market Players

Some of the prominent players in the synthetic biology market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies (US), Novozymes (Denmark), Ginkgo Bioworks (US), Amyris (US), Precigen, Inc. (US), GenScript (China), Twist Bioscience (US), Synthetic Genomics (US), Codexis (US), Synthego (US), Creative Enzymes (US), and among others.

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• The report provides a quantitative analysis of the current market and estimations which would enable the stakeholders to capitalize on prevailing market opportunities
• Extensive analysis of the global Synthetic Biology equipment market by product type helps in understanding the types of equipment that are currently used along with the variants that would gain prominence in future
• Competitive intelligence highlights the business practices followed by leading market players across various geographies
• Comprehensive analysis of factors that drive and restrict the growth of the global Synthetic Biology market is provided
• SWOT analysis highlights the internal environment of leading companies for effective strategy formulation
• The Synthetic Biology market scenario is comprehensively analysed in accordance to the key regions

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