April 02, 2024
Boston: “According to the latest BCC Research study, the demand for Top Ten Suppliers of Synthetic Biology Technology is estimated to increase from $35.5 billion in 2023 to $59.2 billion by the end of 2028, at a compound annual growth rate (CAGR) of 10.8% during the forecast period of 2023-2028.”
The report provides a comprehensive overview of the synthetic biology industry, focusing on 10 key companies and the driving forces behind their success. It segments the market based on product types, including enabling products, biologic components, integrated systems, and enabled products. Additionally, the market is categorized by industry applications such as R&D tools, diagnostics/pharmaceuticals, agriculture, chemicals, energy, food & beverages, and others. For each segment, the report delves into the current market landscape as of 2022, assessing product offerings, market size, drivers, and competitor analysis. Furthermore, it provides forecasts for 2028, allowing stakeholders to anticipate future trends and opportunities in the synthetic biology sector.
The application of synthetic biology in creating microorganisms capable of producing milk and egg proteins presents a groundbreaking solution to sustainable food production. By genetically modifying yeast and bacteria cells, these organisms can be transformed into efficient protein factories, offering alternatives to traditional dairy and egg farming methods. Yeast-derived milk and bacterial/yeast-produced egg proteins address environmental concerns and cater to the rising demand for plant-based and environmentally friendly food options. This innovation not only revolutionizes the food industry but also aligns with global sustainability goals. The report on the Top Ten Suppliers of Synthetic Biology Technology aims to inform a diverse audience, including biotech and pharmaceutical companies involved in drug discovery and vaccine development, energy sector players, cosmetic companies, healthcare professionals such as genetic engineers and computational biologists, academic researchers, pharmaceutical entities, advocacy organizations, government health bodies, and individuals interested in staying updated on the latest advancements in synthetic biology and its applications in product development.
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Top Ten Suppliers of Synthetic Biology Technology Market Drivers
Increasing Scope of Synthetic Biology in Healthcare Applications:Synthetic biology has emerged as a promising avenue within healthcare, with applications spanning drug discovery, personalized medicine, and gene therapies. Companies are leveraging this technology to engineer innovative therapeutic molecules, biosensors, and diagnostic tools, enabling targeted interventions and more effective disease management.
Increasing Demand for Food Safety and Security: With the global population steadily increasing, ensuring food safety and security has become paramount. Synthetic biology plays a crucial role by enhancing crop yield, developing disease-resistant plants, and improving livestock health. Companies are actively engaged in bioengineering crops with enhanced nutritional content and prolonged shelf life to meet these growing challenges.
DNA Read, Write, and Edit Technologies: Advancements in DNA sequencing, synthesis, and editing technologies are driving the growth of synthetic biology. Tools like CRISPR/Cas9 enable precise genome editing, empowering researchers to modify genes for desired traits. Companies are investing in these technologies to accelerate research and product development efforts.
Growing Role of Designer Organisms: Synthetic biology enables the creation of custom-designed organisms tailored to specific functions. These designer organisms can produce biofuels, enzymes, and other valuable compounds, offering solutions to environmental challenges and industrial needs. Companies are harnessing this potential to drive innovation in various sectors.
Speeding up of Commercialization Pathways: Synthetic biology streamlines the development and commercialization of bioproducts through rapid prototyping, automation, and standardized parts. Agile approaches adopted by companies facilitate faster product iterations, allowing innovations to reach the market swiftly.
Growth in Synthetic Biology Foundries: Synthetic biology foundries serve as collaborative hubs for research and development, providing access to shared resources, expertise, and standardized biological parts. Companies leverage these facilities to accelerate their projects, benefiting from collective knowledge and infrastructure.
Increasing Research and Development Investment by Pharma Companies: Pharmaceutical companies are increasingly recognizing the potential of synthetic biology and investing in research and development efforts. Collaborations between industry giants and synthetic biology startups drive innovation in the development of novel therapeutics, vaccines, and diagnostics, promising advancements in healthcare.
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Report Synopsis
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Report Metrics |
Details |
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Base year considered |
2022 |
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Forecast Period considered |
2023-2028 |
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Base year market size |
$31.5 billion |
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Market Size Forecast |
$59.2 billion |
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Growth Rate |
CAGR of 10.8% for the forecast period of 2023-2028 |
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Segment Covered |
Region, Product Type, Industry |
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Regions covered |
North America, Europe, Asia-Pacific, Latin America, Rest of the World (RoW) |
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Countries covered |
U.S., Mexico, Canada, Germany, France, U.K., Italy, Spain, Japan, China, India, Brazil, Argentina, Chile, Middle East, Africa, South America, Switzerland, Denmark, Norway, Poland, Belgium, Austria, Netherlands, Sweden, Russia, Australia, New Zealand, Taiwan, Singapore, Malaysia, Thailand, Philippines, Indonesia |
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Key Market Drivers |
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Top Ten Suppliers of Synthetic Biology Technology SegmentationAnalysis
By Product Type Segmentation
Enabling Products encompass foundational tools like DNA synthesizers, gene editing kits, and cloning vectors, essential for manipulating genetic material in synthetic biology research. Biological Components refer to standardized genetic parts such as promoters and enhancers, enabling the construction of custom genetic circuits. Integrated Systems combine biological components into functional units, like gene expression platforms and metabolic pathways, to create robust biological functions. Enabled Products represent end-user applications leveraging synthetic biology innovations, such as biofuels and biopharmaceuticals.
By Application Segmentation
R&D Tools aid in gene synthesis, genome editing, and pathway engineering for scientific investigations. Diagnostics/Pharmaceuticals utilize synthetic biology for diagnostic tests, drug development, and personalized medicine. Agriculture employs synthetic biology to enhance crop traits, pest resistance, and yield. Chemicals involve the production of specialty chemicals, enzymes, and bio-based materials. Energy applications focus on biofuels, microbial fuel cells, and algae-based energy systems. Food & Beverages utilize synthetic biology for food production, flavor enhancement, and nutritional content improvement.
By Region Segmentation
North America serves as a hub for research, development, and commercialization of synthetic biology, particularly in the United States and Canada. Latin America shows emerging interest, especially in Brazil, Mexico, and Argentina. Europe boasts a strong ecosystem with leading countries like the United Kingdom, Germany, and the Netherlands. APAC witnesses rapid growth, primarily driven by China, India, and Japan, with significant investments and government support.
This report on the Top Ten Suppliers of Synthetic Biology Technology provides comprehensive insights and analysis, addressing the following key questions:
1. What is the projected market size and growth rate of the top ten suppliers of synthetic biology technology market?
2. What are the key factors driving the growth of the top ten suppliers of synthetic biology technology market?
3. What segments are covered in the Top Ten Suppliers of Synthetic Biology Technology market?
4. By Type, which segment will dominate the market by the end of 2028?
5. Which region has the highest market share in the top ten suppliers of synthetic biology technology market?
Some of the Key Market Players Are:
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Top Ten Suppliers of Synthetic Biology Technology( BIO119B )
Publish Date: Jan 2024
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