Synthetic Biology Market

Global Synthetic Biology Market Size (2024 to 2032)

The size of the global synthetic biology market was worth USD 24.74 billion in 2023. The global market is anticipated to grow at a CAGR of 24.1% from 2024 to 2032 and be worth USD 172.72 billion by 2032 from USD 30.70 billion in 2024. 

The synthetic biology market across different end-use sectors, including agriculture, chemicals, and healthcare, are robust applications that drive the synthetic biology market growth. The worldwide energy crisis, fossil fuel depletion, and growing pollution are growing demand which promotes market growth. The increased demand for biofuels and investments in the market also prompts the need for the global synthetic biology market. 

Synthetic biology also plays a vital role in the farming industry by modifying crop genomes to grow them faster and healthier. In cancer, cells divide infinitely, so the cure for cancer can be achieved by synthetic biology. It is also used to find alternatives to fuel, like biofuels, decreasing pollution levels as it does not produce toxic gases after combustion. It is making the market move forward extensively.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Synthetic Biology Market Analysis By Tool 

The oligonucleotide synthetic segment held the largest market share in 2023 and is expected to dominate during the forecast period. The rising demand for oligonucleotides in diagnostic centers and growing government investment in pharmaceutical & biotechnology companies for research and development propel the expansion of the segment. Rising demand for RNA, synthetic DNA, and Synthetic genes are further boosting the growth of the oligonucleotide synthetic segment in the global market.

On the other hand, the enzyme segment is predicted to be the fastest-growing segment in the synthetic biology market. 

Global Synthetic Biology Market Analysis By Technology

The enabling technologies segment led the global synthetic biology market and is anticipated to maintain the same pace during the forecast period.

KEY MARKET PLAYERS IN THE GLOBAL SYNTHETIC BIOLOGY MARKET

Key market participants dominating the global synthetic biology market are 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.

RECENT HAPPENINGS MARKET

• In 2020, Carbios partnered with Novozymes to produce proprietary PET-degrading enzymes at a domestic and industrial scale. The company can provide effective techniques to end-users in the coming years. 
• In 2020, Twist Biosciences launched its new next-generation sequencing solutions that include protein gene coding. It continues to meet and provide all facilities to the customer, such as high-quality DNA that helps with uniform sequencing. 
• In 2019, Agilent Technologies acquired BioTek to expand its business in cell analysis. Agilent wants to deliver more in-depth, unique cell analysis to patients and expand its bi-pharma, academic, and research centers.

DETAILED SEGMENTATION OF THE GLOBAL SYNTHETIC BIOLOGY MARKET INCLUDES IN THE REPORT

This market research report on the global synthetic biology market has been segmented and sub-segmented based on the tool, technology, application, and region.

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 Modeling
• Enabled technologies
  • Next-Generation Sequencing
  • Pathway Engineering

By Application

• Medical
• Environmental
• Industrial

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa