Global Synthetic Biology Market to reach USD 111 billion by 2027.Global Synthetic Biology Market is valued approximately at USD 32.40 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 19.23% over the forecast period 2021-2027. Synthetic biology is an interdisciplinary field that includes the application of engineering concepts to biology. Its primary goal, in comparison to other fields of Science and Technology, is to (re-)design and create biological components and systems that do not previously exist in nature. Researchers combine a chemical synthesis of DNA with improved genomics understanding to enable the rapid production of changed DNA sequences and their integration into two genomes. Synthetic biology's effective application offers the potential to solve problems in health, manufacturing, and agriculture. Synthetic biology market is driven by the key factors such as Declining Cost of DNA Sequencing and Synthesizing and Increasing Support from Government and Private Institutions. For instance, According to a research article titled 'Synthetic Biology's Role in Fighting COVID-19' published in MolecularCloud in 2020, synthetic biology addresses the need for vaccine development during the COVID-19 pandemic. Drug discovery scientists can use synthetic biology to produce DNA fragments, clones, or entire variant libraries. However, Bio-safety and Bio-security, may impede market growth over the forecast period of 2021-2027.

North America is projected to hold the largest market share in the synthetic biology market due to factors, such as the increasing demand for bio-based products, increased investments in synthetic biology companies, and rising R&D funding for synthetic biology. The United States is a significant contributor to research in the domains of drug discovery, genomics, and proteomics structure prediction, and will shortly be in the region, increasing the synthetic biology market's growth.

Major market player included in this report are:

Integrated DNA Technologies Inc.
Amyris Inc.
Precigen, Inc
Thermo Fisher Scientific Inc.
New England Biolabs Inc
Koninklijke DSM N.V.
Du Pont De Nemours and Company
Novozymes A/S
Synthetic Genomics Inc.
Genscript


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Core Products
Enabling Products
Enabled Products
By Application:
Healthcare
Chemicals (Including Bio-Fuels)
Food and Agriculture
Other Applications (Biosecurity, Energy, and Environment)
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Synthetic Biology Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors