Global climatic change is simultaneously affecting the natural health and considerable transfiguration of DNA of living organisms including human beings, animals, and plants. This will mark an immediate need for advanced solutions to mitigate the rising environmental and health concerns all across the world. According to a recently issued IndustryARC’s report, the aforementioned factors led the global synthetic biology market to leverage a profit of $5.73 billion in 2018 and the consumer demand in the forthcoming years. Additionally, the global genomics market is flourishing at a rapid pace which leveraged a market benefit of $16 billion - $16.5 billion in 2018, subsequently promoting the global synthetic biology market progress. Synthetic biology is benefiting in a wide range of areas such as medical industry, agricultural industry, pharmaceuticals, chemical and energy industry, and many others by combining molecular biology, biophysics, membrane science, biotechnology, genetic engineering, and many others. As per the analyst’s research, the medical application of synthetic biology will experience a mounting demand which will increase at a robust CAGR of 33.2% through to 2025.
The IndustryARC report titled “Synthetic Biology Market: By Tools (Xeno-Nucleic Acid, Chassis Organisms, Oligonucleotides, Cloning Technology Kits, Enzymes); By Technology (DNA Synthesis, DNA Sequencing, Computational Modelling); By Application (Environmental, Medical, Industrial); By Geography- Forecast (2019-2025)” gives a fair specification about the present global synthetic biology, the progress, and prospect in the forecast period, comparative product and company analysis, and geographical opportunity of the niche market.
Global Synthetic Biology Market: Competitive Landscape:
As per the aforementioned report, North America largely contributed a huge regional share of 38% in the year 2018. Since the United States is readily advancing in many sectors, it is also accomplishing sustainable development in the medical industry owing to a high rate of chronic and fatal diseases. According to the American Cancer Society, nearly 1,762,450 new cancer incidences are expected to occur in 2019 in the U.S. Resultantly, imposing a serious concern on the governmental agencies whereupon facilitating high R&D investment to discover new medicines and techniques, synthetic biology being the major platform for such innovations. Several positive implications of synthetic biology include the production of renewable bioacrylic to reduce greenhouse gas emission, green chemicals such as surfactants from agricultural wastes, HIV vaccines for strengthening immunity, renewable biofuels as petroleum alternative, and many more. Correspondingly, increasing the global synthetic biology market demand which is evaluated to grow at a healthy CAGR of 29.75% during the forecast period 2019-2025.
The leading companies elaborately discussed in the report includes Ziopharm Oncology Inc., Ingenza Ltd, Halozyme, Inc., Intrexon Corporation, Cargill Inc., Origene Technologies Inc., Evolva, Codexis Inc., Novozymes, and Green Biologics Limited. Origene Technologies Inc. is a recognized research tool company which provides comprehensive research on the genome sequences through advanced technology thereby offering a wide range of solutions to the pharmaceutical, biotechnology, and academic end users. Their product category includes cDNA clones, vectors, RNAi, genome editing, assay kits, and so on.
Global Synthetic Biology Market: Disruptive Trends and Growth Drivers:
· Global crop production experiences a successive loss due to adverse climatic conditions, increasing plant disease, and decreasing soil fertility and water availability. Moreover, rising population demands an equal amount of crop productivity to the growing food consumption rate. Synthetic biology elevates agricultural productivity by developing weather and pest resistant, less water and soil dependent seeds to yield maximum outcome.
· Increasing incidences of cancer will majorly drive the synthetic biology market by advancing in genome engineering and modifying the DNA sequence thereby reducing the global cancer risks.
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