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(IT-NEWSWIRE.COM, July 07, 2020 ) According to the new market research report “Synthetic Biology Market by Tools (Oligonucleotides, Enzymes, Synthetic Cells), by Technology (Gene Synthesis, Bioinformatics), by Application (Tissue Regeneration, Biofuel, Renewable Energy, Food & Agriculture, Bioremediation) - Global Forecast to 2025", published by MarketsandMarkets™, The synthetic biology market is projected to reach USD 19.8 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 23.9%.
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The growth of this market is primarily attributed to factors such as the increasing demand for synthetic genes & synthetic cells, wide range of applications of synthetic biology, declining cost of DNA sequencing & synthesizing, increasing R&D funding & initiatives in synthetic biology, and increasing investments in the market.
Recent Developments
#In December 2019, Amyris, Inc. (US) launched the PURECANE Brand Sweetener.
# In December 2019, Cyrus Biotechnology Inc. (US) collaborated with the Broad Institute of MIT and Harvard to develop an optimized CRISPR gene-editing technology. This helped Cyrus to gain further commercial access for its Rosetta technology.
# In August 2019, Agilent Technologies, Inc. (US) acquired BioTek Instruments (US), a manufacturer of life science instrumentation, thereby expanding Agilent’s growing presence and expertise in cell analysis and also strengthening the company’s position in the large and growing immuno-oncology and immunotherapy areas.
# In June 2019, Novozymes A/S (Denmark) opened its Innovation Campus in Lyngby, Denmark, for research in biological solutions.
# In April 2019, Precigen, Inc., a wholly-owned subsidiary of Intrexon Corporation (US), opened a new manufacturing facility in Germantown, Maryland, for supporting the gene therapy manufacturing.
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Gene synthesis accounted for the largest share of the synthetic biology market in 2019 :
Based on technology, the market is segmented into gene synthesis, genome engineering, cloning, sequencing, site-directed mutagenesis, measurement & modeling, microfluidics, nanotechnology, and bioinformatics technologies. In 2019, the gene synthesis segment accounted for the largest share of the market.
The report claims to split the Regional Scope of the Focused synthetic biology Market into
North America (US and Canada)
Europe (Germany, France, UK, Spain, RoE, Denmark, Switzerland & Italy)
Asia-Pacific (China, Japan, India, Australia and Rest of Asia Pacific)
Rest of World (Latin America, Middle East & Africa)
The APAC market is expected to grow at the highest CAGR during the forecast period
The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as growth in the number of pharmaceutical & biopharmaceutical companies, the increasing number of healthcare & life science facilities, and increasing requirements for regulatory compliance in pharmaceutical and biopharmaceutical companies, growing number of international alliances, heavy funding for synthetic biology research, and strong government support are expected to drive the growth of these markets during the forecast period.
Which are the key players in the synthetic biology market and how intense is the competition?
The prominent players in the synthetic biology market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Novozymes A/S (Denmark), Ginkgo Bioworks (US), Amyris, Inc. (US), Intrexon Corporation (US), GenScript Biotech Corporation (China), Twist Bioscience (US), Synthetic Genomics, Inc. (US), Codexis, Inc. (US), Synthego Corporation (US), Creative Enzymes (US), Eurofins Scientific (Luxembourg), Cyrus Biotechnology Inc. (US), ATUM (US), TeselaGen (US), Arzeda (US), Integrated DNA Technologies, Inc. (US), and New England Biolabs (US).
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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