Gene Synthesis Market to Exhibit Remarkable CAGR of 20% through 2029: R&D Activities Remain Primary Application Area

Mar 20,2020 | Healthcare, Pharmaceuticals and Medical devices

In recent years, gene synthesis services have gained increased attention of researchers due to custom service offerings with cost-effective pricing and quality. Custom services help in reducing error and unwanted genes, which ultimately saves the time of researchers. Key service players operating in the market offer a wide range of service offerings, such as standard gene synthesis, express gene synthesis (provide gene synthesis service within 3-4 business days), custom gene services, and complex gene services (provide service for project requirement). With an array of applications, gene synthesis services cater to numerous R&D activities, diagnostics, and therapeutics.

As such, there has been an increasing demand for gene synthesis services across the world.  FMI - a well-established name in the market research domain - forecasts that, the gene synthesis market will experience a major upturn post 2025, crossing a valuation of US$ 1 Bn in the same year.

“Increased demand for genomic research and biopharmaceutical companies focusing on the production of genomic medicine have led key service players to offer customised and effective gene synthesis service provisions.”

Key Takeaways of Gene Synthesis Market Study

For More Detailed Insights on Gene Synthesis Market

  • In terms of service, the gene services segment is expected to contribute more than 45% of revenue share to the global gene synthesis market.
  • Owing to low service cost and demand, standard gene synthesis is the most preferred choice among costumers.
  • Research and development activities dominate the market, by application, as researchers mostly prefer gene synthesis services over other services for their projects.
  • In terms of end user, academic and research institutes are expected to collectively hold more than 50% market share in the gene synthesis market over the forecast period of 2019 to 2029.
  • North America is the highest revenue generating market by region, due to well-established and sophisticated service laboratories. However, East Asia is expected to offer more lucrative opportunities, owing to increasing healthcare programs that fund genomic research.
gene synthesis market share by region pr

Acquisition - Key Strategy Followed by Leading Manufacturers

Leading manufacturers in the gene synthesis market are focusing on the regional acquisition strategy to enhance their product portfolio and expand their regional presence. For instance, in August 2019, Eurofins Scientific expanded its gene synthesis capabilities with the acquisition of Blue Heron Biotech. In January 2018, Eurofins also expanded its footprint in Asia with the acquisition of Tsing Hua in Taiwan.

Want more insights?

The gene synthesis market, a new study by Future Market Insights, opines on the application of gene synthesis from 2014-2018, and presents demand projections for 2019-2029, on the basis of service (gene synthesis services, gene fragment services, and GMP gene synthesis), application (diagnostics, therapeutics, research & developmental activities, and other applications), and end user (biotechnology companies, academic & research institutes, pharmaceutical companies, and contract research organizations (CROs)), across seven prominent regions of the world.

For additional information, write to the analyst at press@futuremarketinsights.com

About Healthcare division of FMI

The Healthcare team at Future Market Insights has consistently tracked and analyzed rapidly evolving trends and developments in the global healthcare industry, encompassing pharmaceuticals and medical devices markets. The team facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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