Synthetic Biology Market Size Analysis Growth Rate, Top Regions, Key Players and Forecast to 2031

Global synthetic biology market is anticipated to grow at a CAGR of 32.0% during the forecast period (2024-2031). The market growth is driven, by the rising focus on R&D, the escalating need for environmentally friendly solutions, and the use of synthetic biology in the treatment and pharmaceuticals. Synthetic biology deals with redesigning organisms for some useful purpose by equipping them with new characteristics. It is transforming areas including medicine to manufacturing. This field is being appreciated by governments globally, who are coming up with policies that foster it and providing funds required to accelerate innovation. Also, ongoing industry partnerships between universities, biotechnology firms, and established giants enable the emergence and sustenance of innovations and market growth.

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According to the National Institute of Health (NIH), the new synthetic biology industry is growing rapidly, with start-up companies receiving around $6.1 billion in investment since 2015 and a global synthetic biology market value estimated to reach $14.0 billion by 2026. Many of the new start-ups can be grouped within a multi-layer technology stack. 

Recent Development 

• In February 2024, Ginkgo Bioworks, which is creating the industry-leading platform for cell programming and biosecurity, announced bit. bio as a new partner of the Ginko technology network. bit. bio is a company that codes human cells for innovative medicines. 

• In October 2023, TeselaGen was granted two additional patents for their use of AI to quicken the development of biotech products.

• In July 2023, extending their current biomanufacturing partnership, Sumitomo Chemical Co., Ltd. and Ginkgo Bioworks announced a new project to use synthetic biology to create useful chemicals.

• In March 2023, AMC Health Healthcare Company entered into a service partnership with the University of Mississippi Medical Center to improve the patient’s experience and prognosis of chronic conditions. Both parties' main objectives from this partnership are the establishment and growth of the synthetic biology industries and the progressive expansion of additional patient healthcare networks beyond the hospital.

• In August 2022, Constructive Bio was launched with $15.0 million to seed the initial investment targeting to re-engineer biology aiming for the generation of new categories of enzymes, pharmaceuticals, and biomaterials.

• In January 2022, Ribbon Biolabs, a DNA synthesis firm, raised a EUR 18.0 million ($18.9 million) series A financing fund. Using this fund, the company was able to facilitate commercial-scale manufacturing facilities and the scaling of DNA synthesis in the US.

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Market Coverage

• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered- 

o             By Product 

o             By Technology

o             By Application

• Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

• Competitive Landscape- 

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Synthetic Biology Market Report Segment

By Product

• Enabling Product
• Core Product
• Enabled Product

By Technology

• Gene Synthesis & Sequencing
• Genome Engineering
• Bioinformatics
• Others

By Application

• Medical Application
• Industrial Application
• Food & Agriculture
• Environmental Application 

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