The global synthetic biology market is estimated to be valued at USD 17.88 Bn in 2024 and is expected to exhibit a CAGR of 22.3% during the forecast period (2024-2031). Synthetic biology is an emerging field that applies engineering principles to biology. It involves the design and construction of novel artificial biological pathways, organisms or devices or the re-design of existing natural biological systems. Some key applications of synthetic biology include development of advanced biomanufacturing techniques for fuels, chemicals and materials as well as development of engineered organisms for agriculture, pharmaceuticals and environmental solutions. Researchers are working towards developing engineered biological systems for more effective and environment-friendly production processes. Advancements in DNA sequencing, gene assembly, and editing techniques have enabled rapid progress in the field with the potential to address many pressing global challenges in healthcare, energy, and environment.
Market Dynamics:
The global synthetic biology market is driven by factors such as increasing R&D funding and investment in the field, advancements in DNA sequencing and gene editing technologies, rising demand for biopharmaceuticals, and development of techniques like metabolic engineering. Industry standards are being developed to ensure the responsible and safe application of synthetic biology. However, regulatory issues relating to genetically engineered organisms and ethical concerns could potentially restrain the market growth. Synthetic biology offers opportunities to address challenges in several sectors like drug discovery, industrial biomanufacturing, and environmental remediation. Development of commercial applications, international collaborations, and improved cost efficiencies in DNA synthesis and genome engineering will support market expansion.
Key Features of the Study:
Market Segmentation
Table of Contents
*Browse 39 market data tables and 27 figures on "Global Synthetic Biology Market” - Forecast to 2031.
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