Synthetic Biology term refers the both the design and construction of biological components and entire novel biological systems that do not exist in a natural world and redesign & Fabrication of existing biological systems. Synthetic biology mainly aims to design and synthesis of artificial genes with distinct, advanced and innovative characteristics. Synthetic biology has not just limited itself to recombinant DNA technology instead it encompasses construct engineered gene circuits or metabolic pathway using computer algorithms, new whole genome assembly technique to create an entirely new genetic system. However, being controversial it has its adverse effects too. As synthetic biology is flourishing, the biological diversity is on the verge of getting vanished. Synthetic biology threatens the conservation and sustainable use of naturally existing biological diversity.
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Market Growth Factors
In past few years the global synthetic biology market has gained industrial interests. Declining cost of DNA sequencing and synthesizing, rising number of entities operating in research & development, increase in funding, supportive initiatives by government and private organizations are the key factors boosting the growth of this market. Advanced technology involved in synthetic biology assures to change the society by bringing about fundamental shift in way food, energy and industrial products have been produced drives the market to grow in future. Nonetheless, ethical issues and formation of strict regulatory bodies, biosafety, bio-war or bio-security are the hinder the market from expanding.
Segmentation
The global synthetic biology market is segmented on the basis of product type, technology, application and geography. On the basis of product type the market is divided into core products, enabled products and enabling products. Core products are subdivided into synthetic genes, synthetic DNA, synthetic cells, synthetic xeno nucleic acid and Chassis organisms. Enabled products divided into DNA synthesis and oligonucleotide synthesis. Enabled product is divided into chemicals, agriculture, pharmaceutical & diagnostic and bio-fuel. Depending on technology the market is separated into genome engineering, DNA synthesis & sequencing, bioinformatics and integrated system technologies. Considering application the market is classified into research & development, healthcare, agriculture, bio-fuel, chemical and others.
Regional Analysis
Geographically the global synthetic biology market is studied across North America, Europe, Asia-Pacific and rest of the world. The US is anticipated to hold the largest share of this market followed by UK and Germany. The factors attributed to largest share of the US are growing demand for bio-based products, increased funding in synthetic biology companies and favourable government regulations regarding approval of synthetic biology products. Emerging economy like China in Asia-Pacific is expected to record highest growth owing to increased awareness programme related to synthetic biology and rising investments in research & development.
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Competitive analysis
The key players operating in the global synthetic market are Intrexon Corporation, GenScript USA Inc., GenScript USA Inc., Novozymess, Amyris, Inc., DuPont Inc., Synthetic Genomics, Inc., Integrated DNA Technologies, Inc., Thermo Fisher Scientific, Inc., Agilent Technologies. Various strategies such as mergers and partnership are being posed by key market players as product manufacturing in synthetic biology involves an intensive step that requires collaborative efforts by two or more companies.
Latest News
One of the national research institutes is working vigorously in its synthetic biology R&D programme where cannabinoid genes are being identified for the sustainable production of medicinal cannabinoids without growing the plant. In spite of its usage prohibition it has health benefits. it helps to encounter nausea and vomiting associated with chemotherapy.
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