Synthetic Biology Market Size, Share, and Analysis By Product (Cloning Kits, Enzymes, Synthetic Genes, and Others), By Source (Enzymes, and Microbes), By Technology (Gene Synthesis, Genome Engineering, DNA Sequencing, and Others), By Application (Cancer Research, DNA Data Storage, Drug Discovery, Infectious Disease, and Others), End-user (Pharmaceutical & Biotechnology Industry, Academic & Research Institutes, and Others) and Regional Forecast, 2024-2032

Synthetic biology is a combination of systems biology and molecular biology to design bio-factories. It enables the creation of new enzymes, pathways, and cell systems. Synthetic biology consequently allows the development of new organisms that can be designed to produce beneficial outputs such as drugs, chemicals, fuels, and materials. Synthetic biology has broad applications across medical, drug development, and bioengineering industries.

The multifold increase in synthetic biology research funding is one of the major driving factors for the synthetic biology market.

• For instance, in July 2022, SynbiCITE, the U.K. National Centre for the Industrial Translation of Synthetic Biology, received a USD 5.38 million funding commitment from SynBioVen.


• According to AllianceBernstein L.P., an asset management company, the funding for synthetic biology companies increased to USD 7.8 Billion in 2020 from USD 3.1 Billion in 2019.


• In September 2022, the government of New South Wales, Australia, announced an investment of USD 6 million in a new synthetic biology and bio-manufacturing development program. The program is designed to improve access to manufacturing and production facilities and equipment across the State.

The increasing applications of synthetic biology are expected to drive market growth due to the spur in its demand by pharmaceutical and biopharmaceutical companies. Synthetic biology plays a significant role in enabling life technologies to develop immunogens and produce rapid assays for the purification of the immunogens.

• For instance, according to an article published in Springer Nature Limited, in 2021, the most advanced application of synthetic biology is the ability to alter metabolism to produce high-value products for applications ranging from biofuels and plant natural products.


• According to an article published in Elsevier B.V. in 2021, synthetic biology application is accelerating due to dropped cost of DNA synthesis, growing understanding of genome organization, and advances in genetic engineering.

Impact of COVID-19 on the Synthetic Biology Market

The synthetic biology market faced a slightly negative impact in 2020 by the COVID-19 pandemic due to disruptions in supply chains and bio-manufacturing climate changes. Also, the ongoing research in 2020 enabled scientists to develop vaccines using synthetic biology.

• According to an article published by MolecularCloud, in 2020, in the fight against the COVID-19 pandemic, scientists turned to synthetic biology to hurry up vaccine development.

However, the research activity started rapidly after the second wave and led to extensive use of synthetic biology to produce vaccines. It also empowered drug discovery scientists to synthesize DNA fragments, clones, or entire variant libraries 

• According to an article published in Springer Nature Limited in 2022, synthetic biology has played a crucial role in responding to the pandemic with the help of biofoundries. 

Therefore, since the second wave of the COVID-19 pandemic, the market has been booming and is expected to grow during the forecast period.

Key Insights

The report will cover the following key insights:

• Pipeline Analysis


• R&D expenditures, by Market Players


• Technological Advancements


• Overview of Regulatory Scenario – by Key Countries/Regions


• Key Industry Developments (Mergers, Acquisitions, Partnerships)


• Impact of COVID-19 on the Market

Analysis by Products

On the basis of products, synthetic genes account for a significant proportion of the global synthetic biology market. The main factor attributed to the segment’s growth is the increasing application of synthetic DNA and RNA in biomolecular therapies. Moreover, market players have increased their emphasis on collaboration for new advanced product launches.

• In April 2022, Codexis and Molecular Assemblies announced that their collaboration leveraged CodeEvolver technology to develop a high-performing enzyme to enable Molecular Assemblies’ Fully Enzymatic Synthesis.

Regional Analysis

Asia Pacific accounts for the significant CAGR in the global synthetic biology market. The main factor attributed to the region's growth is the increasing product launches and research funding in developing countries. For instance, in September 2020, OriCiro Genomics, a Japanese company, announced the launch of the OriCiro Cell-Free Cloning System. The system enabled cell-free amplification of large circular DNA, eliminating reliance on E. coli cloning.

Key Players Covered

The report will include the profiles of key players such as Ginkgo Bioworks, Codexis, Inc., Novozymes A/S, Eurofins Scientific, Twist Bioscience, Cysbio, Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Precigen, Viridos, and others.

Segmentation

Key Industry Developments

• In October 2022, Ginkgo Bioworks announced that it had signed a non-binding Memorandum of Understanding (MoU) agreement with the Ministry of Investment of Saudi Arabia (MISA). The agreement aims to develop biotechnology capabilities to deploy new public health initiatives in Saudi Arabia.


• In October 2022, Ginkgo Bioworks announced its collaboration with Merck KGaA to engineer up to four enzymes for biocatalysts in Merck's active pharmaceutical ingredient (API) manufacturing efforts.


• In October 2022, Ginkgo Bioworks announced the acquisition of Zymergen. The acquisition aims to enhance Ginkgo's platform by integrating software capabilities, robust automation, and a wealth of experience across diverse biological engineering approaches.


• In November 2021, Viridos announced that it had signed a joint agreement with ExxonMobil Research and Engineering Company. The agreement aimed to bring Virido’s low-carbon intensity biofuels toward commercial levels.