Global Synthetic Biology Market – Focused Insights 2024-2029

MARKET INSIGHTS

In 2023, the global synthetic biology market was valued at USD 15.20 billion and is projected to grow to USD 59.91 billion by 2029, with a CAGR of 25.68% during this forecast period. Despite facing regulatory hurdles, the market continues to expand due to the diverse applications of synthetic biology. Key drivers of market growth include enhanced cost efficiency across established sectors such as healthcare, agriculture, and manufacturing. Through crop engineering, synthetic biology enhances agricultural productivity, while engineered biology is utilized to substitute intricate chemical reactors, leading to the creation of innovative, high-value products and technologies.

Synthetic biology involves applying engineering concepts to biology, enabling the modification of entire organisms for specific functions. In contrast to traditional biotechnology, which adjusts existing capabilities of an organism by transferring small segments of genetic material, synthetic biology emphasizes the introduction of new traits or the redesigning of organisms with improved attributes. Its uses span from the development of novel treatments and vaccines to the creation of biomaterials, biosensors, and biofuels. As our scientific understanding of biological systems progresses, the potential uses of synthetic biology are anticipated to grow considerably.

MARKET TRENDS & DRIVERS

Increasing Applications of Synthetic Biology Products

Synthetic biology is revolutionizing real-world applications across multiple industries, including food, pharmaceuticals, and agriculture. From 2000 to 2021, significant advances in synthetic biology tools have enabled biotechnology, pharmaceutical, and agriculture companies to develop innovative products with real-world impact. Impossible Foods has transformed the plant-based food market by engineering the yeast Pichia pastoris to produce soy leghemoglobin, a key component in replicating the taste and experience of a traditional hamburger. Advances in metabolic engineering have efficiently transferred large metabolic pathways from natural sources to production hosts like yeast. This breakthrough enables the production of plant-based burgers with authentic meaty flavors, creating a new category of food products that appeal to both consumers and environmental advocates. As synthetic biology advances, the next decade promises even greater innovations that will enhance the performance and affordability of products across life sciences, pharmaceuticals, and industrial sectors. The field's growing influence offers significant opportunities for companies looking to harness its transformative potential.

Use of Synthetic Biology in Multiplexed Diagnostics and Therapeutic Genome Editing

The field of synthetic biology is witnessing significant growth in its application for multiplexed diagnostics and therapeutic genome editing. This trend is driven by the technology's ability to engineer highly precise, customizable solutions that can address complex healthcare challenges. Multiplexed diagnostics, which involve the simultaneous detection and analysis of multiple biomarkers or pathogens, are becoming increasingly sophisticated thanks to synthetic biology. This technology allows for the design of synthetic gene circuits and CRISPR-based systems to identify multiple disease indicators in a single test, leading to faster, more accurate diagnoses. In therapeutic genome editing, synthetic biology revolutionizes how genetic disorders are treated. By leveraging tools like CRISPR-Cas9, researchers can target and edit multiple genes simultaneously, offering potential cures for previously difficult or impossible conditions. These advancements are particularly impactful in developing personalized medicine, where therapies can be tailored to an individual's unique genetic makeup. The growing use of synthetic biology in these areas is enhancing the effectiveness of diagnostics and treatments, reducing costs, and improving accessibility.

INDUSTRY RESTRAINTS

Threat to Existing Technologies

Synthetic biology start-ups and established chemical companies invest in various technologies to enter the market. Innovations in synthetic biology will hurt existing industries. In most cases, the more beneficial technology is widely accepted in the market. Many companies invest in various synthetic biology applications-based products. For instance, high-income countries like the US and the UK have more market patents than middle-income countries like India. These innovations largely impact their economies. Innovations in synthetic biology will hurt existing industries and can disrupt their processes.

GLOBAL SYNTHETIC BIOLOGY MARKET INSIGHTS

• By Tool: The worldwide market for synthetic biology, categorized by tool, features segments such as oligonucleotides and synthetic DNA, enzymes, cloning technology kits, xeno-nucleic acids, and chassis organisms. The oligonucleotides and synthetic DNA segment dominates the market share. Oligonucleotides, which are short DNA or RNA molecules, are essential in genetic testing, research, and forensics due to their stability, efficiency, and rapid production. These oligomers are predominantly synthesized through the solid-phase phosphoramide technique, enabling the formation of specific sequences with tailored chemical structures and functions. The extensive usage of oligonucleotides, particularly in primers and probes, has transformed areas like PCR amplification, DNA sequencing, and molecular diagnostics. The prospects for oligonucleotide applications are expected to grow considerably with the emergence of next-generation DNA synthesizers. Such advanced technologies, similar to the earlier evolution seen with desktop PCR thermocyclers and DNA sequencers, have the potential to revolutionize drug discovery and development. The capacity to synthesize precise synthetic DNA sequences on demand grants researchers unprecedented chances to design novel structures and therapeutic strategies. This technological progress could result in new biomolecular therapies, including enzymes, peptides, RNA catalysts, and aptamers, expanding the limits of current possibilities in drug development.
• By Technology: The global synthetic biology market classified by technology is divided into enabling technology and enabled technology. Enabling technology exhibits substantial growth, boasting the highest CAGR during the forecast period. These enabling technologies are crucial in propelling the global synthetic biology market forward and include key components such as gene synthesis, bioinformatics, genome engineering, cloning technology, mutagenesis, gene measurement and modeling, and microfluidics. These technologies lay the groundwork for innovation and progress in various sectors, including agriculture, medicine, and biotechnology. Gene synthesis is a critical technique in synthetic biology that facilitates the development of artificial genes in laboratory environments. This technology underpins genetic engineering, permitting scientists to construct genes with specific traits, such as resistance to pathogens. Gene synthesis advances our comprehension of agricultural productivity and enhances plant resilience across diverse climatic conditions and in the presence of harmful bacteria.
• By Application: When categorized by application, the healthcare sector represented the largest share of the global synthetic biology market. Fundamental life sciences are vital in driving the growth of synthetic biology, providing a basis for innovation and the creation of new tools and methodologies. The collaboration among scientists, engineers, and chemists in this arena has resulted in the development of a wide range of tools that further the objectives of synthetic biology. Researchers in life sciences are the main consumers of synthetic biology products, utilizing these advancements to improve existing methodologies and investigate new facets of nature, broadening the horizons of what can be achieved in synthetic biology. Synthetic biology finds applications across multiple disciplines within the life sciences, with certain fields leading in the integration of these technologies into their research. Disciplines such as immunology, genetics, neuroscience, cancer research, reproductive sciences, and structural biology are at the forefront of applying synthetic biology to enhance their investigations. These fields harness synthetic biology to create innovative solutions that were previously unattainable with conventional methods, significantly advancing healthcare outcomes.
• By End-User: Pharmaceutical and biotech companies are exhibiting the most significant growth within the global synthetic biology market. These sectors have played a crucial role in the initial achievements of synthetic biology, primarily due to its strong links with the synthesis of small-molecule medications. A considerable number of these medications are sourced from natural products, making it relatively easy to revert to microbial production systems. Moreover, the modular structure of numerous biosynthetic pathways, especially those involved in the creation of bioactive natural products like antibiotics, enables the application of engineering methods derived from synthetic biology. These pathways, influenced by evolutionary demands for quick diversification and compatibility across species, often comprise extensive modular assembly lines, making them ideal for synthetic biology innovations.

GEOGRAPHICAL ANALYSIS

North America holds a leading position in the global market for synthetic biology. The region boasts a particularly dynamic synthetic biology environment, featuring over 530 companies focused on regenerative medicine, including those that concentrate on cell and gene therapies and stem cell-based treatments. These enterprises are heavily engaged in research and development by employing synthetic biology products to enhance medical interventions. The United States stands out as a worldwide pioneer in conducting clinical trials based on cell and gene therapies, with an increasing number of patients choosing these pioneering treatments. Additionally, regulatory approvals for these therapies are more prevalent in North America, which further enhances the region's dominance in this sector.

COMPETITIVE LANDSCAPE

The global synthetic biology market includes unique data concerning 38 vendors. The competitive atmosphere within the market is intense, with key players such as Agilent Technologies, Codexis, Eurofins Scientific, Illumina, Novozymes, and Thermo Fisher Scientific command substantial shares. These companies contend with strong competition from both established and emerging players, which propels ongoing technological advancements and product development across diverse areas like healthcare, industrial applications, food and beverages, agriculture, and environmental solutions. To uphold their market standing and broaden their reach, leading companies in the synthetic biology sector prioritize organic growth strategies, which involve launching new products, enhancing existing offerings, and securing patents for innovative technologies.