New York, According to a new market research report published by Global Insight Services “Synthetic Biology Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Synthetic biology is the design and construction of new biological parts, devices, and systems, and the re-design of existing, natural biological systems for useful purposes.
The field of synthetic biology is still in its early stages, but it is already being used to create new drugs, vaccines, and diagnostic tools; to produce renewable fuels and chemicals; and to develop new crops and livestock. In the future, synthetic biology may be used to create artificial organs and tissues, to generate clean energy, and to clean up environmental pollution.
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Key Trends
The key trends in synthetic biology technology are the increasing ability to design and construct custom biological systems and the decreasing cost of doing so. As our understanding of biology improves and technology advances, we are increasingly able to design and build biological systems to perform specific functions.
This includes everything from creating new drugs and vaccines to engineering microorganisms that can produce fuels and other chemicals.
Key Drivers
The key drivers of the synthetic biology market are the increasing demand for artificial DNA synthesis, the need for innovative and cost-effective methods for drug development, and the rising popularity of personalized medicine.
The market is also being driven by the increasing investment in synthetic biology research by government and private organizations, and the increasing number of patents being filed in the field.
Market Segments:
The Synthetic Biology Market is segmented by products, technology, application and region. By products, the market is divided into synthetic DNA, synthetic genes, software tools and chassis organisms. Based on technology, it is segmented into genetic engineering, bioinformatics and microfluidics. On the basis of application, it is bifurcated into pharmaceuticals & diagnostics, chemicals, biofuels, bioplastics and others. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Market Players:
The Synthetic Biology Market includes players such as Thermo Fischer Scientific, GenScript, DNA2.0, Integrated DNA technologies, Eurofins Scientific, Inc., Origene technologies, Scientific genomics Inc, Editas Medicine, Inc., Pareto Biotechnologies, Blue heron and TeselaGen.
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