|By PR Newswire||
|April 8, 2014 10:32 AM EDT||
ALBANY, New York, April 8, 2014 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Synthetic Biology Market (Synthetic DNA, Synthetic Genes, Synthetic Cells, XNA, Chassis Organisms, DNA Synthesis, Oligonucleotide Synthesis)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast,2013 - 2019" the global synthetic biologymarket was valued at USD 1.8 billion in 2012 and is estimated to reach a market worth of USD 13.4 billion in 2019growing at a CAGR of 32.6% from 2013 to 2019.
Synthetic biology is a process where artificial biological devices and systems are produced with the utilization of genetic engineering and biology. It plays an important role in the production ofimproved nutrition or cost effective medicines.Increasing number of scientific research coupled with rising participation of government and private organizations for the development of synthetic biology helps the growth of this market globally.In addition, new product development by key market players in collaboration with other companies will furtherdrive the growth of this market during the study period.
Browse Global Synthetic Biology Market Report with Full TOC at http://www.transparencymarketresearch.com/synthetic-biology-market.html
Rising global marine pollution will also act as a growth driver for the market owing to the fact that synthetic biology helps develop engineered microorganisms that can help curb oil spills and can turn plastics into reusable microplastics. The depleting prices of DNA sequencing act as a growth driver for the market as DNA sequencing is a technology used for developing core products such as synthetic genes and synthetic DNAs. Major market factors restraining the growth of synthetic biology market are ethical issues pertaining to the utilization of synthetic biology products.
Synthetic biology market is mainly segmented by products, by technologies and by applications. The product segment of synthetic biology is further classified as core products and enabling products. Core products market is segmented as synthetic DNA, synthetic genes, synthetic cells, XNA and chassis organisms. While enabling products are segmented as DNA synthesis and oligonucleotide synthesis products.Compared with synthetic biology enabling products, the core products (synthetic genes, cell's DNA and XNA) are widely used and hence in 2012, core product segment covered major market share.Synthetic biology, by technologies segment is divided into genome engineering, DNA sequencing, bioinformatics and biological components and integrated systems. In 2012, synthetic biology genome engineering technology held major market share, owing to its ability to modify specific area of DNA that helps to offer better reproducibility. Application segment of synthetic biology market is classifiedas healthcare, chemicals, agriculture and others. Synthetic biology has continued to prove its efficiency in the development and production of various inexpensive healthcare products such as vaccines and drugs. Also, commercial availability of synthetic DNA and synthetic genes supports the growth of the healthcare application in the synthetic biology market. Thus, all the above mentioned factors collectively drive the growth of synthetic biology in healthcare application market.
Europe is expected to dominate the synthetic biology market during the forecast period.Increasing efforts of European government and private organizations towards the development of this fieldis the major driving factor for the growth of synthetic biology market in Europe.North America contributed the second largest share of the total market in 2012. Introduction of novel technologies by domiciled key players which expand the scope for the development of this field will help the growth of this market in North America.In addition, one key factor driving the growth of synthetic biology market in developed countries (North America and Europe) is the initiative and funding by the government and universities. For example, SynBERC and TESSY are the initiatives of North American and Europe government, respectively, for the development of synthetic biology sector. The main goal of these organizations is to stimulate the growth of synthetic biology field by promoting awareness in respective countries.
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DuPont, Inc., Amyris, Inc. Bayer AG, Royal DSM, Ginkgo Bioworks and Life Technologies Corporation (Thermo Fisher Scientific) are the key players having maximum presence in the global synthetic biology market.
The global synthetic biologymarket is segmented as follows:
- Synthetic Biology Market, by Products
- Browse Global Synthetic Biology Market Report with Full TOC at http://www.transparencymarketresearch.com/synthetic-biology-market.html
- Synthetic Biology Market, by Technologies
Biological Components and Integrated Systems
- Synthetic Biology Market, by Applications
Chemicals (Including Bio-Fuels)
Others (Biosecurity, R&D, Energy and Environment)
- Synthetic Biology Market, by Geography
Rest of the World (RoW)
Browse Technology & Media Market Research Reports with TOC @ http://www.transparencymarketresearch.com/technology-market-reports-8.html
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