|Gene Synthesis Market Analysis & Forecast 2022 – 2030|
Gene Synthesis Industry Overview
The global gene synthesis market size was valued at USD 1.47 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 18.1% from 2021 to 2028.
The supportive government policies associated with synthetic biology are key driving factors of the market. With the growing demand for synthetic biology, investors have shifted their focus on this field over the past few years. In 2020, approximately, USD 8 billion were invested in the synthetic biology field by public and private financing. The ongoing COVID-19 pandemic has been advantageous for the market, in terms of new growth opportunities. Scientific communities are exploring untapped avenues in the space, thereby contributing to revenue growth. For instance, researchers at the National Institute of Standards and Technology (NIST) have produced synthetic gene fragments from the COVID-19 virus to help diagnostic developers develop more reliable and accurate diagnostic tests for the disease.
Gather more insights about the market drivers, restrains and growth of the Global Gene Synthesis Market
Advances in synthetic DNA technology are gaining traction as a viable measure to address concerns related to the growing number of emerging pathogens and the threats of the next global pandemic. This promising strategy to readily propagate and help characterize genes of interest can promptly progress to respond to the current SARS-CoV-2 pandemic as well as near-future pandemics involving other novel pathogens.
In the past few years, targeted therapy is gaining increasing attention by researchers as well as by biotechnology & pharmaceutical companies. It has emerged as an important way of disease management. Targeted therapy in combination with chemotherapy and immunotherapy is expected to witness significant growth in the near future, in turn, creating lucrative opportunities for the emerging, as well as key players, in the market.
A shortage of skilled professionals in the field of biotechnology and gene synthesis is a major hurdle for the market growth, as the market players require experienced and trained staff at their facilities. Thus, companies are now collaborating with various universities and offering on-site training, online workshops, and sponsored projects to develop the right professionals, thereby driving the market growth.
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Gene Synthesis Market Segmentation
Grand View Research has segmented the global gene synthesis market on the basis of method, service, application, end-use, and region:
Gene Synthesis Method Outlook (Revenue, USD Million, 2017 – 2028)
- PCR-based Enzyme Synthesis
Gene Synthesis Service Outlook (Revenue, USD Million, 2017 – 2028)
- Antibody DNA
- Viral DNA
Gene Synthesis Application Outlook (Revenue, USD Million, 2017 – 2028)
- Gene & Cell Therapy Development
- Vaccine Development
- Disease Diagnosis
Gene Synthesis End-use Outlook (Revenue, USD Million, 2017 – 2028)
- Biotechnology & Pharmaceutical Companies
- Academic & Government Research Institutes
- Contract Research Organizations (CROs)
Gene Synthesis Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
Market Share Insights
- May 2021: CellCarta acquired Reveal Biosciences, an AI-based pathology firm. This acquisition is aimed at expanding CellCarta’s offerings in AI-enabled multi-omic data analysis services and applications.
Key Companies profiled:
Some of the prominent players in the global gene synthesis market include:
- Brooks Automation, Inc. (GENEWIZ)
- Boster Biological Technology
- Twist Bioscience
- ProMab Biotechnologies, Inc.
- Thermo Fisher Scientific, Inc.
- Integrated DNA Technologies, Inc.
- OriGene Technologies, Inc.
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