Synthetic Genomics Market
Market Insights on Synthetic Genomics covering sales outlook, demand forecast & up-to-date key trends
Synthetic Genomics Market Based on Product, Application, End User & Forecast 2023 to 2033
Synthetic Genomics Industry Developments from 2023 to 2033
The global synthetic genomics market is slated to be valued at US$ 30.3 billion at the end of 2023. During the assessment period ranging from 2023 to 2033, a CAGR of 12.6% is anticipated for the industry, with an estimated market value of US$ 99.6 billion. In this world of synthetic biology, synthetic genomics is still in the infant stage. Synthetic genomics is the disruptive technology at the heart of Bio-economy. Technological advancement in synthetic genomics has raised the bar for excellence and have taken the competition to the next level. Scientists are exploring newer approaches for treating life-threatening diseases.
For instance, use of genetically engineered viruses to correct defective genes in the patients with the genetically inherited disease will bring the new transformation in the healthcare, credit goes to Synthetic Genomics market. Synthetic genomics demonstrates better understanding of deadly diseases and propels the rapid production of vaccines. Apart from healthcare, synthetic genomics finds its application in today’s sustainability challenges in the fields like renewable energy, nutrition and human health. For instance, developing genetically modified algal strains as a renewable source of energy will drive the future of synthetic genomics.
Synthetic genomics owes a lot to synthetic biology, making use of much of methods resources and jargon involved, yet it differs in crucial ways too. Synthetic biology - a major new interdisciplinary subject that has emerged this century - is focused on rewriting and reprogramming the DNA in cells using cycles of design and engineering to get improvements. It aspires to do this using engineering principles such as modularity and standardisation that enable researchers to more quickly get to the ultimate aim of tailoring cells as technologies for specific tasks. Currently, synthetic genomics lacks these formalities, as its goal is not to optimise one cell behaviour over the rest but to produce a new understanding of DNA and biology, either directly or by enabling new experiments.
In spite of it being a relatively niche field, a number of healthcare providers are specializing in offering synthetic genomics for various applications. SynCTI, for instance, is part of the Synthetic Yeast 2.0 (Sc2.0) consortium working towards the construction of the first eukaryotic cell with a functional fully synthetic genome. A prominent feature of Sc2.0 is the incorporation of an in-built genome evolution system named SCRaMbLE that enables on-demand rearrangement of the synthetic genome. This platform allows generation of large mutant libraries that can be screened for strains of desired characteristics. Using this system, we aim to isolate and study a host of yeast variants to address fundamental biological questions along with developing novel biotechnological applications.
Among all applications, the food industry is expected to generate significant prospects. Synthetic genomics is likely to help detect food spoilage organisms through the use of bionanotechnology. Food spoilage post-harvest represent a significant issue in the food production industry. For example, it is estimated that in potato production a large processing house can lose over £100,000 purely from soft potato rot. A key part of addressing this issue is the development of new rapid test systems that can identify sources of microbial contamination in incoming vegetables and hence prevent spread within the facility.
Countries such as the United Kingdom are continually trying to reduce the use of animal testing in research, both for ethical reasons and because there are limits in the usefulness of animal-based data in predicting human safety. New testing methods, based on growing human tissues and organs in culture, might provide a more effective and ethical alternative to animal tests. Synthetic genomics is expected to facilitate this objective.
Expected 2023 Market Value
US$ 30.3 billion
Anticipated 2033 Market Value
US$ 99.6 billion
Global Growth Rate (2023 to 2033)
CAGR of 12.6%
In this world of synthetic biology, synthetic genomics is still in the infant stage. Synthetic genomics is the disruptive technology at the heart of Bio-economy. Technological advancement in synthetic genomics has raised the bar for excellence and have taken the competition to the next level. Scientists are exploring newer approaches for treating life-threatening diseases.
For instance, use of genetically engineered viruses to correct defective genes in the patients with the genetically inherited disease will bring the new transformation in the healthcare, credit goes to Synthetic Genomics market. Synthetic genomics demonstrates better understanding of deadly diseases and propels the rapid production of vaccines.
Apart from healthcare, synthetic genomics finds its application in today’s sustainability challenges in the fields like renewable energy, nutrition and human health. For instance, Developing genetically modified algal strains as a renewable source of energy will drive the future of Synthetic genomics.
Synthetic Genomics Market: Drivers and Restraints
The capability of Synthetic genomics in providing a solution to Global Healthcare, Agriculture, Manufacturing and environmental challenges will fuel the growth coupled with recent technological advancements. Decreased cost of DNA sequencing and DNA synthesis will boost the research and trigger commercialization of synthetic genomics market.
The chemical and biological threats along with ethical concerns prove to be the restraints for the Synthetic genomics field. Custom DNA synthesis along with functional genomics of Pathogens can be a threat. Adding to this, risk assessment of the purely entirely synthetic organism will become more challenging.
Synthetic Genomics Market: Overview
In 2017 ExxonMobil and Synthetic Genomics achieved a milestone in algae biofuel research that is expected to fuel the growth of the market. For instance, algae strain developed by synthetic genomics doubled oil production. Simultaneously attempts are being made to develop food proteins and oils from Non-engineered algal strains using Synthetic Genomic technology.
Exploitation of synthetic genomics to synthesize enzymes used in manufacturing of drugs is the unique approach that will take the field to new heights. For instance, United kingdom based GlaxoSmithKline (GSK) is developing living system that can produce molecules like Aspirin, that comes from chemical process rather than biological process.
Synthetic genomics will change the conventional research methodologies. For instance, it will assist in synthesizing difficult sequences that include high GC content, repetitive pattern and Centromere. Synthetic Genomic will enable synthesis of large sequence (1000+base pair) in one go instead of assembling the multiple shorter sequences.
Development of Synthetic probiotics and genetic engineering to the pigs to make them Virus resistant and have Immune-profiles similar to Human are the future trends of Synthetic.
Firms operating in synthetic genomics segment, are focusing on expanding their product portfolio. As a part of this strategy, in 2017, Genscript Biotech one of the leading and most innovative firm acquired CustomArray. Another giant Ginkgo Bioworks has acquired leading synthetic DNA provider Gen9.
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Synthetic Genomics Market: Regional Overview
Technological advancement in North America in Synthetic biology will boost the Synthetic Genomic market in the USA and Canada. The potential for Synthetic Genomics Market is high in Europe due to increased number of organ donation and Transplantation and well-placed healthcare payer-provider structure.
Asia-Pacific is expected to show significant growth for Synthetic Genomics Market due to higher antibiotic resistance in India and other developing nations. Latin America and the Middle East and Africa region will show slower growth for Synthetic Genomics Market owing to lack of awareness amongst the people in this region.
Synthetic Genomics Market: Key Players
Examples of some of the market participants in Synthetic Genomics Market identified across the value chain are: Synthetic Genomics Inc., Integrated DNA Technologies Inc., Thermo Fisher Scientific Inc., GenScript, Biocompare Inc., Twist Bioscience, Boster Biological Technology, Genewiz, Eurofins Genomics.
The research report on Synthetic Genomics Market presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report on Synthetic Genomics Market provides analysis and information according to market segments such as geographies, application, and industry.
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The report covers exhaust analysis on Synthetic Genomics Market
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Report on Synthetic Genomics Market includes regional analysis
- North America (USA., Canada)
- Latin America (Mexico. Brazil)
- Europe (Germany, Italy, France, United kingdom, Spain, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, ASEAN)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Northern Africa)
The report on Synthetic Genomics Market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Synthetic Genomics Market: Segmentation
The global Synthetic Genomics Market is classified on the basis of Product, application and end user
Based on Product, Synthetic Genomics Market is segmented into following:
- DNA Template
- Modifying Enzymes
- Klenow Fragment
Based on application, Synthetic Genomics Market is segmented into following:
- Innovative vaccines & Therapeutics
- Bacterial resistance
- Organ Transplantation
- DNA printing
- Nutritional proteins & Oils
Based on end user, Synthetic Genomics Market is segmented into following:
- Biotechnology Companies
- Pharmaceutical companies
- Academic Institutions
- Government Laboratories
- Contract Research Organizations
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