Synthetic Biology Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

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Synthetic Biology Market: By Technology (Enabled Products(Pharmaceuticals, Chemicals, Biofuels), Enabling Products(DNA Synthesis, Oligonucleotide Synthesis),  By Products (Synthetic DNA, XNA, Chassis Organism)), By Application (Chemicals, Pharmaceuticals, Biopharmaceuticals, Agriculture, Others), and Geography

 

 

 

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Report

Description

Synthetic Biology Market size was valued at USD 9.4 billion in 2021 and is expected to reach USD 47.4 billion by 2028, at a CAGR of 26% during the forecast period 2022 to 2028. Synthetic biology is a new interdisciplinary area of the medical field that involves the application of engineering principles in biology. Synthetic biology combines various disciplines within both domains such as genetic engineering, biotechnology, molecular engineering biophysics, computer engineering, electrical engineering and other various branches for the development of artificial biological systems for research engineering and medical applications. The design and building of new biological parts, equipment, and systems, as well as the re-design of existing, natural biological systems for practical purposes, are all examples of synthetic biology. Furthermore, it has various applications in industrial enzymes, vaccines and antibody production, bio-based chemicals as well as synthetic biological life science research. Synthetic biology is an evolutionary segment of medical technology and market is in the developing stage. Market players and researchers are actively participating in R&D activities to develop and introduce the revolutionary technologies. Furthermore, government funding and support for the research fuelling the market growth. Pharmaceutical and biotechnology businesses spend a lot of money on research in order to produce breakthrough compounds that will meet the rising needs of the healthcare industry and fight new ailments. Collaboration and acquisitions are key strategies adopted by the market players to boost their market revenue share in synthetic biology market. For instance, in March 2015, Synpromics Limited, collaborated with iniQure N.V. to develop synthetic promoters with a specific application in the delivery of gene medicines to the liver. In January 2017, Ginkgo Bioworks, a microorganism company acquired a provider of synthetic DNA Gen9. By this acquisition, company seeks to improve its speed and capacity in constructing new organism design for use across the multiple industries

Synthetic Biology Market

MARKET SUMMARY
-
26%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 26%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Synthetic Biology Market

  • The report on global synthetic biology market gives historical, current, and future market sizes (US$ Mn) on the basis of technology, application and geography.
  • synthetic biology market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Major Key Players
  • Agilent Technologies
  • Thermo Fisher Scientific Inc.
  • GEN9 Inc.
  • Amyris Biotechnologies
  • Merck KGaA
Drivers And Restrains

Synthetic Biology Market

Synthetic biology market is driven by the rapid increase in R&D investments in synthetic biology and adaptation of genetically engineered products and DNA sequencing for the treatment and understanding of the diseases progress. In addition, increase in funding from government in life science research and development and advancements in molecular biology expected to boost the synthetic biology during the forecast period. Furthermore, private institutional contribution to synthetic biology research expected to push the market growth. However, lack of regulatory framework, biosafety and biosecurity issues coupled with government policies may hinder the synthetic biology market growth over the forecast period.


North America dominates the market share in

Synthetic Biology Market

Geographically, synthetic biology market has been segmented into Latin America, Europe, Asia- Pacific, North America, and the Middle East & Africa. North America and Europe expected to be a major markets for the synthetic biology owing to the factors such as increase in government funding for the synthetic biology research. According to Woodrow Wilson Center Report, synthetic biology research received about fund of $ 430 Mn in U.S. During 2005 to 2010 European governments contributed $160Mn fund for synthetic biologists. In addition, well-developed healthcare infrastructure and presence of major market players in both regions are expected to drive the market revenue growth. Asia Pacific region expected to grow at notable rate owing to the developing healthcare infrastructure, emergence of the Asia based biotechnological and synthetic biology firms and growing R&D investments in this region.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

Synthetic Biology Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Table Of Content

1. Executive Summary
2. Global Synthetic Biology Market Introduction
2.1. Global Synthetic Biology Market – Taxonomy
2.2. Global Synthetic Biology Market –Definitions
2.2.1. Product Type
2.2.2. Technology
2.2.3. Application
2.2.4. Region
3. Global Synthetic Biology Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Current Trends
3.5. Global Synthetic Biology Market Dynamic Factors – Impact Analysis
3.6. Mergers, Acquisitions, and Collaborations
4. Global Synthetic Biology Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Synthetic Biology Market, By Product Type, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1. Core Products
5.1.1. Synthetic DNA
5.1.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.1.3. Market Opportunity Analysis
5.1.2. Synthetic Genes
5.1.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.2.3. Market Opportunity Analysis
5.1.3. Synthetic Cells
5.1.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3.3. Market Opportunity Analysis
5.1.4. Chassis organisms
5.1.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.4.3. Market Opportunity Analysis
5.1.5. XNO (Xeno Nucleic Acid)
5.1.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.5.3. Market Opportunity Analysis
5.2. Core Products
5.2.1. DNA Synthesis
5.2.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.2.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.1.3. Market Opportunity Analysis
5.2.2. Oligonucleotide Synthesis
5.2.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.2.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.2.3. Market Opportunity Analysis
6. Global Synthetic Biology Market, By Technology, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1. Bioinformatics
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Microfluidics
6.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Genetic Engineering
6.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. DNA Sequencing
6.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
6.5. Nucleotide Synthesis and Sequencing
6.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.5.3. Market Opportunity Analysis
6.6. Integrated Systems
6.6.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.6.3. Market Opportunity Analysis
7. Global Synthetic Biology Market, By Application, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1. Pharmaceuticals & Diagnostics
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Chemicals
7.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Biofuels
7.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Bioplastics
7.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Others
7.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
8. Global Synthetic Biology Market Forecast, By Region, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1. North America
8.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Europe
8.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Asia Pacific
8.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Latin America
8.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. MEA
8.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global Synthetic Biology Market – Opportunity Analysis Index, By Product Type, Technology, Application, and Country, 2022 – 2028
9. North America Synthetic Biology Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Core Products
9.1.1.1. Synthetic DNA
9.1.1.2. Synthetic Genes
9.1.1.3. Synthetic Cells
9.1.1.4. Chassis organisms
9.1.1.5. XNO (Xeno Nucleic Acid)
9.1.2. Enabling Products
9.1.2.1. DNA Synthesis
9.1.2.2. Oligonucleotide Synthesis
9.2. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Bioinformatics
9.2.2. Microfluidics
9.2.3. Genetic Engineering
9.2.4. DNA Sequencing
9.2.5. Nucleotide Synthesis and Sequencing
9.2.6. Integrated Systems
9.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.3.1. Pharmaceuticals & Diagnostics
9.3.2. Chemicals
9.3.3. Biofuels
9.3.4. Bioplastics
9.3.5. Others
9.4. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.4.1. United States
9.4.2. Canada
9.5. North America Synthetic Biology Market – Opportunity Analysis Index, By Product Type, Technology, Application, 2016-2027
9.6. North America Synthetic Biology Market Dynamics – Trends
10. Europe Synthetic Biology Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
10.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Core Products
10.1.1.1. Synthetic DNA
10.1.1.2. Synthetic Genes
10.1.1.3. Synthetic Cells
10.1.1.4. Chassis organisms
10.1.1.5. XNO (Xeno Nucleic Acid)
10.1.2. Enabling Products
10.1.2.1. DNA Synthesis
10.1.2.2. Oligonucleotide Synthesis
10.2. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Bioinformatics
10.2.2. Microfluidics
10.2.3. Genetic Engineering
10.2.4. DNA Sequencing
10.2.5. Nucleotide Synthesis and Sequencing
10.2.6. Integrated Systems
10.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.3.1. Pharmaceuticals & Diagnostics
10.3.2. Chemicals
10.3.3. Biofuels
10.3.4. Bioplastics
10.3.5. Others
10.4. Country Level Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.4.1. UK
10.4.2. Germany
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Rest of Europe
10.5. Europe Synthetic Biology Market – Opportunity Analysis Index, By Product Type, Technology, Application, 2016-2027
10.6. Europe Synthetic Biology Market Dynamics – Trends
11. Asia Pacific Synthetic Biology Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
11.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Core Products
11.1.1.1. Synthetic DNA
11.1.1.2. Synthetic Genes
11.1.1.3. Synthetic Cells
11.1.1.4. Chassis organisms
11.1.1.5. XNO (Xeno Nucleic Acid)
11.1.2. Enabling Products
11.1.2.1. DNA Synthesis
11.1.2.2. Oligonucleotide Synthesis
11.2. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Bioinformatics
11.2.2. Microfluidics
11.2.3. Genetic Engineering
11.2.4. DNA Sequencing
11.2.5. Nucleotide Synthesis and Sequencing
11.2.6. Integrated Systems
11.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.3.1. Pharmaceuticals & Diagnostics
11.3.2. Chemicals
11.3.3. Biofuels
11.3.4. Bioplastics
11.3.5. Others
11.4. Country Level Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.4.1. China
11.4.2. India
11.4.3. ANZ
11.4.4. Japan
11.4.5. Rest of APAC
11.5. Asia Pacific Synthetic Biology Market – Opportunity Analysis Index, By Product Type, Technology, Application, 2016-2027
11.6. Asia Pacific Synthetic Biology Market Dynamics – Trends
12. MEA Synthetic Biology Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
12.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Core Products
12.1.1.1. Synthetic DNA
12.1.1.2. Synthetic Genes
12.1.1.3. Synthetic Cells
12.1.1.4. Chassis organisms
12.1.1.5. XNO (Xeno Nucleic Acid)
12.1.2. Enabling Products
12.1.2.1. DNA Synthesis
12.1.2.2. Oligonucleotide Synthesis
12.2. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Bioinformatics
12.2.2. Microfluidics
12.2.3. Genetic Engineering
12.2.4. DNA Sequencing
12.2.5. Nucleotide Synthesis and Sequencing
12.2.6. Integrated Systems
12.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.3.1. Pharmaceuticals & Diagnostics
12.3.2. Chemicals
12.3.3. Biofuels
12.3.4. Bioplastics
12.3.5. Others
12.4. Country Level Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.4.1. GCC Countries
12.4.2. South Africa
12.4.3. Rest of MEA
12.5. MEA Synthetic Biology Market – Opportunity Analysis Index, By Product Type, Technology, Application, 2016-2027
12.6. MEA Synthetic Biology Market Dynamics – Trends
13. Latin America Synthetic Biology Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
13.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Core Products
13.1.1.1. Synthetic DNA
13.1.1.2. Synthetic Genes
13.1.1.3. Synthetic Cells
13.1.1.4. Chassis organisms
13.1.1.5. XNO (Xeno Nucleic Acid)
13.1.2. Enabling Products
13.1.2.1. DNA Synthesis
13.1.2.2. Oligonucleotide Synthesis
13.2. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Bioinformatics
13.2.2. Microfluidics
13.2.3. Genetic Engineering
13.2.4. DNA Sequencing
13.2.5. Nucleotide Synthesis and Sequencing
13.2.6. Integrated Systems
13.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.3.1. Pharmaceuticals & Diagnostics
13.3.2. Chemicals
13.3.3. Biofuels
13.3.4. Bioplastics
13.3.5. Others
13.4. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.4.1. Brazil
13.4.2. Mexico
13.4.3. Argentina
13.4.4. Rest of LA
13.5. Latin America Synthetic Biology Market – Opportunity Analysis Index, By Product Type, Technology, Application, 2016-2027
13.6. Latin America Synthetic Biology Market Dynamics – Trends
14. Competition Landscape 
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Product Offerings, Key Developments, Strategies, and SWOT Analysis)
14.2.1. Thermo Fisher Scientific, Inc.
14.2.2. Genscript
14.2.3. ProteoGenix
14.2.4. OriGene Technologies Inc.
14.2.5. Integrated DNA technologies
14.2.6. Eurofins Scientific, Inc.
14.2.7. Pareto Biotechnologies
14.2.8. Amyris Inc.
14.2.9. TeselaGen
14.2.10. Synthetic Genomics Inc.
15. Research Methodology
16. Key Assumptions and Acronyms

Report

Company Profile

  • Agilent Technologies (U.S.)
  • Thermo Fisher Scientific Inc. (U.S.)
  • GEN9 Inc. (U.S.)
  • Novozymes
  • Amyris Biotechnologies (U.S.)
  • Merck KGaA (Germany)
  • Epoch Life Science Inc. (U.S.)
  • Intrexon Corporation (U.S.)
  • Gevo Inc. (U.S.)
  • Gingko Bioworks (U.S)
  • Twist Bioscience
  • GenScript
  • Integrated DNA Technologies, Inc.
  • Synthetic Genomics Inc.
  • New England Biolabs
  • Sangamo Therapeutics, Inc. (U.S.)

Description

Synthetic Biology Market size was valued at USD 9.4 billion in 2021 and is expected to reach USD 47.4 billion by 2028, at a CAGR of 26% during the forecast period 2022 to 2028. Synthetic biology is a new interdisciplinary area of the medical field that involves the application of engineering principles in biology. Synthetic biology combines various disciplines within both domains such as genetic engineering, biotechnology, molecular engineering biophysics, computer engineering, electrical engineering and other various branches for the development of artificial biological systems for research engineering and medical applications. The design and building of new biological parts, equipment, and systems, as well as the re-design of existing, natural biological systems for practical purposes, are all examples of synthetic biology. Furthermore, it has various applications in industrial enzymes, vaccines and antibody production, bio-based chemicals as well as synthetic biological life science research. Synthetic biology is an evolutionary segment of medical technology and market is in the developing stage. Market players and researchers are actively participating in R&D activities to develop and introduce the revolutionary technologies. Furthermore, government funding and support for the research fuelling the market growth. Pharmaceutical and biotechnology businesses spend a lot of money on research in order to produce breakthrough compounds that will meet the rising needs of the healthcare industry and fight new ailments. Collaboration and acquisitions are key strategies adopted by the market players to boost their market revenue share in synthetic biology market. For instance, in March 2015, Synpromics Limited, collaborated with iniQure N.V. to develop synthetic promoters with a specific application in the delivery of gene medicines to the liver. In January 2017, Ginkgo Bioworks, a microorganism company acquired a provider of synthetic DNA Gen9. By this acquisition, company seeks to improve its speed and capacity in constructing new organism design for use across the multiple industries

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