Availability Of DNA Sequencing Helps In Synthetic Biology Market Growth

Synthetic Biology Market Report 2021: COVID-19 Growth And Change To 2030

Synthetic Biology Global Market Report 2021: COVID-19 Growth And Change To 2030

The Business Research Company’s Synthetic Biology Global Market Report 2021: COVID-19 Growth And Change To 2030

LONDON, GREATER LONDON , UK, June 14, 2021 /EINPresswire.com/ — DNA sequencing is important in development of the synthetic biology in many ways. The DNA sequencing finds its use in many synthetic biology applications, therefore the availability of the DNA sequencing technique at low cost drives the production of products based on the applications of synthetic biology. DNA sequencing allows the researchers to determine the DNA sequences in genes and helps a researcher to create a repository of entire genomes. These repositories form the basis for the implementation of synthetic biology applications such as protein expression, directed evolution, and metabolic engineering. According to the World Economic Forum report in 2019, costs per genome sequenced have been decreased from $3 billion to less than $1,000 over the past 15 years and are projected to be gradually lowered by 10 times over the next five years.

The synthetic biology market consists of sales of synthetic compound, technology and related services. Synthetic biology is a field of biology science which involve engineering principles.

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The global synthetic biology market is expected to grow from $8.64 billion in 2020 to $10.07 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The synthetic biology market is expected to reach $28.91 billion in 2025 at a CAGR of 30.2%.

Major players in the synthetic biology industry are Thermo Fischer Scientific, Genscript, Integrated DNA Technologies, Amyris and Twist Bioscience Corporation.

The synthetic biology market covered in this report is segmented by technology into nucleotide synthesis and sequencing, bioinformatics, microfluidics, genetic engineering and by application into pharmaceuticals and diagnostics, chemicals, biofuels, bioplastics, others. The synthetic biology tools market is also segmented by product type into oligonucleotides, enzymes, cloning and assembly kits, xeno-nucleic acids (XNA), chassis organism.

Synthetic Biology Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides synthetic biology market overview, forecast synthetic biology market size and growth for the whole market, synthetic biology market segments, and geographies, synthetic biology market trends, synthetic biology market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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