Global synthetic biology market to see annual growth in excess of 20% through 2025
The global market for synthetic biology can look forward to strong growth through at least 2025, according to a number of market reports.
According to one report, by market analyst BCC Research, the global market was valued at $4.4 billion in 2017 and should see a compound annual growth rate of 26.0% through 2022, when it could top $13.9 billion.
Another report, from Markets and Markets, tagged the industry value at $6.8 billion and projected compound annual growth of 23.9% to lead it to $19.8 billion by 2025.
A third market analysis, this one from Industry Arc, predicts annual compound growth will be much higher, at up to 38%, through 2025.
“Factors such as growth in the number of pharmaceutical and biopharmaceutical companies, the increasing number of healthcare and life science facilities, increasing requirements for regulatory compliance in pharmaceutical and biopharmaceutical companies, growing number of international alliances, heavy funding for synthetic biology research, and strong government support are expected to drive the growth of these markets during the forecast period,” noted tech market analysis site WhaTech.
Other drivers, notes BCC Research, include innovations in CRISPR gene editing tools and nano-particle delivery of CRISPR systems and non-Cas9 gene editing.
In the category of tools, the market is led by oligonucleotides and synthetic DNA, followed by cloning technology kits, and synthetic cells. By technology, the market is led by gene synthesis due to rising demand for synthetic DNA, synthetic RNA, and oligos.
The emphasis on gene synthesis was predicted back in 2012 in an article in the journal Synthetic Biology, when authors Richard Kitney and Paul Freemont explored the fast-growing field.
“An important driver of synthetic biology, and indeed probably the key to its genesis, has been the development of increasingly low cost and reliable gene sequencing and synthesis methods which are becoming widely commercially available,” the article noted.
According to the Markets and Markets report, growth is strong worldwide, though it is highest in the Asia-Pacific region, which is seeing high growth in the number of pharma and biopharma companies as well as an increasing number of healthcare and life science facilities and stronger regulatory oversight. Manufacturers looking for growth opportunities should focus on the Asia-Pacific, which is home to lower-cost manufacturing advantages.
