Synthetic biology is
on the path to becoming a US$13.4 billion market by 2019, exhibiting
a sharp CAGR of 32.6% between 2013 and 2019, estimates Transparency
Market Research in its latest report. The report, titled “SyntheticBiology Market - Global Industry Analysis, Size, Share, Growth,Trends and Forecast,2013 - 2019”, puts the value of the market at
US$1.8 billion in 2012.Synthetic biology is a process that utilizes
biology and genetic engineering to produce artificial biological
systems and devices. The process is proving to be especially pivotal
in producing affordable medicines and improved nutritional products.
The report zeroes in the following key factors that have shaped the
growth curve of the global synthetic biology market: Increased
government participation and investments being routed into scientific
research as well as active initiatives taken by private players in
R&D.
Browse the full
Synthetic Biology Market Report @ :
Besides
pharmaceutical and nutrition-related applications, synthetic biology
has been used for mitigating the damaging effects of marine
pollution. The process has been extensively applied for developing
engineered microorganisms to limit oil spill damages. Additionally,
researchers have successfully used synthetic biology to convert
regular plastics into microplastics that can be re-used. With DNA
sequencing prices taking a plunge, the synthetic biology market will
gain momentum. However, the global synthetic biology market is still
impeded by ethical issues relating to synthetic biology products.
The TMR reports
offers a highly detailed study of the global synthetic biology market
by classifying it on three fronts: Application, products and
technologies.
By application, the
synthetic biology market is classified according to sectors such as:
Healthcare, chemicals, agriculture and others. Of these, the
healthcare segment will demonstrate continued growth thanks to
factors such synthetic DNA and genes now being commercially
available, which in turn supports the development of affordable
pharma products.
Browse the full
Synthetic Biology Market Press Release @ :
The segmentation of
the synthetic biology market by product has been done as follows:
Core products and enabling products. The core products segment is
further segregated as: XNA, synthetic DNA, synthetic cells, synthetic
genes, and chassis organisms. The enabling products segment, on the
other hand, is further divided into products for oligonucleotide
synthesis and those for DNA synthesis. According to 2012 estimates,
the core products segment enjoyed a larger share of market revenues
as compared to enabling products. Based on the type of technology
used in synthetic biology processes, the market is segmented as:
Biological components and integrated systems, genome engineering,
bioinformatics, and DNA sequencing. Technology for synthetic biology
genome engineering is observed to be the most widely used as of 2012,
because it can efficiently modify specific areas within the DNA to
attain better reproducibility.
Findings of the TMR
report indicate that Europe will lead the synthetic biology market
through the forecast period as a result of active government
initiatives and milestones achieved by private players. North America
followed Europe in terms of market share as of 2012 through the
launch of innovative technologies. Players that yield maximum
influence over the synthetic biology market are: DuPont, Inc., Bayer
AG, Amyris, Inc., Ginkgo Bioworks, Royal DSM, and Life Technologies
Corporation.
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