Selbyville, Delaware Global Synthetic Biology Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2025. Synthetic Biology Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Synthetic Biology market and provides information regarding the revenue for the period 2019 to 2025.
Growing concern pertaining to global food security owing to the rising population increased waste during storage, production processes and import & export along with changing climate and environmental stress will boost the market for synthetic biology. Factors such as minimum use of chemical fertilizers for production, better quality food in terms of its nutritional value and better shelf life will augment the synthetic biology across agricultural applications.
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Strong business outlook across various industries such as agriculture, healthcare, industrial chemicals, and energy will propel the synthetic biology market. Increasing R&D activities in collaboration with science, engineering, and technology to modify the living organisms through genetic and biological system manipulations will create new avenues for the industry participants. Further, increasing favorable government policies to boost biotechnology sector will create new avenues for industry participants.
Microfluidics is estimated to hold over 20% market share in 2018. Extensive use of the technology in pharmaceutical and clinical research institutions due to its application for treatment of cancer will foster the market share. Additionally, factors such as rise in demand for personalized medicine for the treatment of several diseases and growing need for efficient and high-speed diagnostic will propel the demand for synthetic biology market.
Synthetic biology from agriculture is expected to observe CAGR over 24% up to 2025. Necessity to improve the crop yield with limited and contaminated arable land will propel the synthetic biology applications in the agriculture sector. Rising food demand owing to rapidly increasing population coupled with favorable government policies will propel the demand for genetically modified transgenic crops fostering the industry expansion.
Europe is expected to exceed USD 18 billion by 2025. Rising demand for synthetic biology in agriculture due to a major change in climate and increasing pollution concern will boost regional growth. Increase in R&D expenditure in clinical research and the presence of a large number of pharmaceutical industries in the region will augment the market share. Increasing awareness among people, rising occurrence of chronic diseases and growth in demand for bio-based products will further proliferate the market development in the region.
Synthetic biology market is competitive in nature owing to the increasing R&D investment in the biotechnology sector by industry participants to gain market share. Amyris, TeselaGenSyntrox Inc, DNA2.0, Evolva, DSM, Blue Heron, Twist biosciences, Pareto Biotechnologies, Thermo Fischer Scientific, Editas Medicine, Inc., GenScript, Integrated DNA technologies, and Novozymes are the key notable players in the global market. Companies are expected to adopt collaboration strategy to carry out intensive R&D activities for new product development in line with business expansion plans.
Increasing demand for biofuels owing to the depletion of fossil fuels and energy crisis will foster the market growth. Rising per capita consumption of energy resources coupled with increasing disposable income to reduce the carbon footprints, increase the use of renewable energy will propel the demand for synthetic biology market in the forecasted period. Rapid urbanization followed by industrialization which demands the majority of energy sources will boost the industry development over the projected timeframe.
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