APAC Synthetic Biology Market

APAC Synthetic Biology Market Size (2023 to 2028)

The size of the Synthetic Biology Market in the Asia Pacific was worth USD 1.48 billion in 2023 and is projected to grow at a CAGR of 26.8%, to reach USD 4.86 billion by 2028.

The synthetic biology market in APAC is projected to be fuelled by a rising number of synthetic biology research entities and increasing investments and funding by the government and private organizations. Also, the declining cost of DNA sequencing and synthesizing is expected to fuel market growth. In addition, increasing awareness about synthetic biology and the growing demand for biofuels are projected to propel market growth during the forecast period. 

The Market for synthetic biology APAC is growing due to the introduction of a wide range of synthetic biology applications in the recent period. In addition, the other factors, such as the increasing need for cost-effectiveness and the alteration of genomes, are likely to boost market growth.

Pharmaceutical and biotechnology firms spend a lot of money on research to discover breakthrough compounds that meet the rising demands of the healthcare industry and combat new diseases. Moreover, rising research and development activities on synthetic drugs and vaccines will provide lucrative growth opportunities for the market player. 

Furthermore, technological advancements in the healthcare sector and advanced healthcare infrastructure are proving the way for new market entrants and start-ups. Synthetic biology technology and products are also finding widespread use in a variety of fields. The need for synthetic biology techniques is rising across China because organisms produced with these techniques are very affordable due to their usage in diverse industrial applications, reducing research costs. The major market players are implementing various strategies to gain a competitive advantage over the market. The strategies include partnerships, acquisitions, and mergers.

However, issues such as the abuse of synthetic biology or the potential for viruses to be accidentally released into the free atmosphere would continue to be a major concern for the APAC synthetic biology market.

This research report on the APAC synthetic biology market has been segmented & sub-segmented into the following categories:

By Tool: 

• Chassis Organisms
• Cloning & Assembly Kits
• Oligonucleotide Synthesis
• Enzymes
• Xeno Nucleic Acid

By Technology: 

• Enabling technologies
  • Gene Synthesis
  • Cloning and Sequencing
  • Genome Engineering
  • Bioinformatics
  • Nanotechnology
  • Site-Directed Mutagenesis
  • Microfluidics
  • Measurement and Modelling
• Enabled technologies
  • Next-Generation Sequencing
  • Pathway Engineering

By Application: 

• Medical
• Environmental
• Industrial

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Based on region, Asia Pacific is the fastest-growing regional market globally due to the growing awareness and collaborations with western companies in China and the well-established biotechnology industries in Japan. The APAC is one of the fastest-growing regional markets in the global market and had accounted for a substantial share in 2022. The market in the region is driven by increasing support for the government, presence of key market players engaged in research and development. The market is expected to be supported in the coming years by the increased engagement of government agencies, research institutes, and major companies in synthetic biology research.

Over the forecast period, the China synthetic biology market is forecasted to register the most significant share in the APAC market during the forecast period. This is because China has witnessed technological advancements in the healthcare sector. However, the major leading companies' establishment of small start-ups and investments, especially in the biofuel segment, is expected to expand market growth. 

The Indian synthetic biology market is one of the fastest-growing countries in APAC. Therefore, the Indian synthetic biology market is anticipated to witness a promising share and contribute to the APAC regional market growth. In addition, supportive government policies, increasing investments, and the adoption of modern synthetic biology tools encourage market growth. 

KEY MARKET PLAYERS:

Dupont, Intrexon Corporation, Amyris, Inc., Genscript USA, Inc., Integrated Dna Technologies (IDT), Inc., Novozymes, Royal DSM N.V, New England Biolabs, Inc., Synthetic Genomics, Inc., and Thermo Fisher Scientific, Inc. are a few of the noteworthy companies operating in the APAC synthetic biology market.