New York, NY -- (SBWIRE) -- 03/15/2021 -- Market Size – USD 4.32 billion in 2018, Market Growth - CAGR of 18.9%, Market Trends –Technological advancements along with government investments in R&D.

The Synthetic Biology Market is estimated to reach USD 17.36 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising need, to know the functioning of genetic elements, cells and biological methods, development of synthetic biology industry. Products produced in this new biological system are used across many applications, including energy, pharmaceutical & diagnostics; bioplastics and environment are expected to become the most common growth factors globally in the coming years.

Synthetic biology is mainly known for the usage of molecular biology along with standard industrial fermentation for the production of renewable, sustainable, algal oils that would reduce the pressure on the ecosystem due to habitat damage and deforestation. Currently, there are customer products in the market, as on department store shelves or grocery that includes the ingredients made using an advanced form of manufacturing and engineering. The primary aim of synthetic biology was the production of biofuels, and it has continued to businesses such as to flavorings, scents, cosmetics, and others.

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DNA sequencing knowledge is built by synthetic biology, and also there is an expectation of improvement of bio-based chemicals, development of food crops and sources of green energy. Development of rational synthesis methods in life sciences is one of the essential roles of synthetic biology. There are some potential environmental importance of synthetic biologies such as distinct chemicals immobilization, bio-transformation, detection of environmental pathogens and contaminants, in situ biodegradation and others which would draw the governments of different LDC's and developing counties to invest on the same. The drivers for the market are reduced cost of data generation due to decreasing prices of DNA sequencing, molecular biology advancement, rise in government funding and increase in demand for renewable energy such as biofuels, developing demand for enhanced vaccines and drugs also, and expanding demand for genetically modified crops due to the rising population.

Key participants include: Thermo Fisher, Merck KGaA, Novozymes, DNA2.0, Eurofins Scientific, Inc., Intrexon, Agilent Technologies, Amyris, Pareto Biotechnologies, GenScript, Integrated DNA Technologies, Ginkgo Bioworks, Synthetic Genomics, New England Biolabs, TeselaGen, Twist Bioscience

For the purpose of this study, Reports and Data have segmented the global Synthetic Biology Market on the basis of, Product, Technology, Application and region:

By Product Outlook (Revenue, USD Million; 2016-2026)
- Synthetic oligos
- Synthetic DNA
- Synthetic genes
- Software tools
- Chassis organisms
- Synthetic clones
- Synthetic cells

By Technology Outlook (Revenue, USD Million; 2016-2026)
- Gene synthesis
- DNA Sequencing
- Genome Engineering
- Biological Components
- Integrated Systems
- Bioinformatics

Application Outlook (Revenue, USD Million; 2016-2026)
- Pharmaceuticals and diagnostics
- Biofuels
- Agriculture
- Healthcare
- Others

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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
o U.S.
- Europe
o France
o UK
- Asia Pacific
o China
o India
o Japan
- Latin America
- Brazil
o MEA

Further key findings from the report suggest
- Synthetic DNA of the product segment is estimated to reach USD 3.80 billion by 2026 at the highest CAGR of 19.0% during the forecast period.
- The penetration rate is high due to its widespread use in R&D and commercialization than any other product segments.
- Genome engineering technology accounts for a market share of 22.6% in 2018. It has emerged as the most notable technology utilized in synthetic biotechnology.
- The researchers anticipate this technology to advance in the forthcoming years.
- Also, other factors, such as advancements in DNA synthesis technologies and CRISPR-toolbox, the need for cheap, rapid, multiplex alteration of genomes, and ongoing research activities are anticipated to drive the growth of the genome engineering during the forecast period.
- Synthetic oligos of the product segment is estimated to reach USD 3.87 billion by 2026 at a CAGR of 18.9% during the forecast period.
- The method is beneficial in modern laboratory practice because it provides accelerated and reasonable access to custom-made oligonucleotides of the desired sequence.
- Pharmaceuticals and diagnostics is estimated to reach USD 6.82 billion by 2026 at a CAGR of 18.9% during the forecast period.
- Production of Artemisinin is supposed to be one of the best health applications.
- Some of the possible application of synthetic biology in health and food are reprogramming of stem cells, regenerative medicine, new therapeutic methods, efficient production of nutraceuticals, for instance, vitamins, food supplements, and preservatives.
- The synthetic biology products and technologies have notable usage in several application areas.
- The organisms engineered with synthetic biology methods are relatively inexpensive, owing to their use in numerous industrial applications.
- It is also a cost-effective approach for research, due to which the market for these techniques is progressing considerably across the world.
- Europe accounts for a share of 28.2% of the market in 2018 and is estimated to reach USD 4.96 billion by 2026.

Table Of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Synthetic biology Market Segmentation & Impact Analysis
4.1. Synthetic biology Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing number of synthetic biology research
4.2.2.2. Substantial investments by government bodies for research and development
4.2.3. Market restraints analysis
4.2.3.1. Security and environmental concerns
Contiuned…

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