Synthetic Biology Market worth $ 11.00 Billion, Globally, by 2028 at 6.60% % CAGR: Verified Market Research™

JERSEY CITY, N.J., May 11, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Synthetic Biology Market" By Product (Core Products and Enabling Products), By Technology (Gene Synthesis, Genome Engineering, Cloning, Sequencing, Site-Directed Mutagenesis & Others), By Application (Medical Application, Pharmaceuticals, Drug Discovery and Therapeutics, Artificial Tissue and Tissue Regeneration & Others), and by Geography. According to Verified Market Research, the Global Synthetic Biology Market was valued at USD 6.60 Billion in 2020 and is projected to reach USD 11.00 Billion by 2028, growing at a CAGR of 6.60% from 2021 to 2028.

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Browse in-depth TOC on "Synthetic Biology Market"

202 - Pages
126 – Tables
37 – Figures

Global Synthetic Biology Market Overview

Increasing demand of synthetic biology by Biotechnological and Pharmaceutical companies for research and development purposes contributes to the growth of this market. According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), over 149.8 Billion USD is spent on R&D per year by the pharmaceutical research-based industry. The application of Synthetic Biology techniques in drug discovery and development acts as a growth driver for the Global Synthetic Biology market. In 2015 witnessed the launch of 56 new pharmaceuticals products out of more than 7,000 compounds in development which includes the synthesis of new bio-based products. For instance, Cell-free systems were used to design biosynthetic pathways for the antiviral agent valinomycin.

Investments made by the governments and various corporate organizations in the science and Technology space for the discovery of drugs and synthetic biological products, especially for the development of successful vaccinations to COVID-19 is proving to be a major driver for the growth of this market. A report from the European Parliament believes Synthetic Biology as one of the emerging technologies that can fight the COVID-19 pandemic. The National Institute of Health in the USA also identified synthetic biology as one way to speed up vaccine development. The innovations in the space of synthetic biology can shape medicinal responses to all the future pandemics. Development and production of vaccines can be eased by DNA and mRNA-based vaccine technologies. These vaccines are constituted by synthetic nucleotide strands. These strands trigger the formation of proteins via the individual's own cells, which results in inducing an immune response. The availability of viral sequence data can thus be rapidly translated into vaccine candidates. This allowed ventures such as Moderna and Inovio to move into clinical development in just a few months following the public release of the genetic code of the virus.

Antigen-carrying nanoparticles can also be constructed using Synthetic Biology Techniques. Such nanoparticles have demonstrated an effective trigger immune response in mice and nonhuman primates. Scalable production can be facilitated by Nanoparticles by reducing the need for adjuvants. Their distribution in low-income countries is facilitated by the nanoparticles displaying a high stability at room temperature. Such evolutions is a testimony to the disruptive potential of data-driven "plug and play" platforms which aim at the modular design of vaccines against new viruses.

Key Developments in Synthetic Biology Market

• March 2020 had Zymergen Inc., a California based material innovation company, acquiring enEvolv, Inc. for an undisclosed amount. This acquisition has led to Zymergen speeding up their delivery of high performing, sustainable products to its customers, besides further cementing Zymergen's leadership position in the bio-manufacturing space.
• In 2019, Thermo Fisher Scientific Inc., the world leader in serving science, officially opened its new $90 million viral vector CDMO (contract development and manufacturing organization) site in Lexington, Mass. The 50,000-square-foot facility will add more than 200 jobs and support the development, testing and manufacture of viral vectors, which are critical to advancing new life-saving gene and cell therapies globally.
• In 2019, Thermo Fisher Scientific Inc., the world leader in serving science, and Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies, today announced they have entered into a definitive agreement under which Thermo Fisher will acquire Brammer Bio for approximately $1.7 billion in cash.

The major players in the market are Cyrus Biotechnology Inc. (U.S.), Intrexon Corporation (U.S.), GenScript Biotech Corporation (China), Integrated DNA Technologies, Inc. (U.S.), New England Biolabs (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Synthetic Genomics, Inc. (U.S.), Codexis, Inc. (U.S.), Synthego Corporation (U.S.) among others.

Verified Market Research has segmented the Global Synthetic Biology Market On the basis of Product, Technology and Application and Geography.

• Synthetic Biology Market by Product
• Core Products
• Enabling Products
• Synthetic Biology Market by Technology
• Gene Synthesis
• Genome Engineering
• Cloning
• Sequencing
• Site-directed Mutagenesis
• Measurement and Modeling
• Microfluidics
• Nanotechnology
• Bioinformatics
• Synthetic Biology Market by Application
• Medical Application
• Pharmaceuticals
• Drug Discovery and Therapeutics
• Artificial Tissue and Tissue Regeneration
• Industrial Applications
• Biofuel and Renewable Energy
• Food & Agriculture
• Others
• Synthetic Biology Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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