The global Synthetic Biology Market is studied in detail in the new report on Qualiket Research. The new report studies the Synthetic Biology market by profiling its major driving factors and restraining factors, compiling a comprehensive database on the market’s historical growth trajectory and present conditions, and by using easy formulation of calculations and estimations through the use of industry-leading analytical tools and methods.
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Synthetic biology is defined as novel area of research which is the amalgamation of multiple disciplines like molecular biology, biotechnology, genetic engineering, biophysics, and others. It involves design and construction of new biological systems from standardized genetic components coupled with essential redesign of existing life for new purposes.
Increase in investment and funding from key companies in synthetic biology expected to boost the global synthetic biology industry growth during this forecast period. For instance, in January 2018, as per the SynBioBeta data around 50 companies including private as well as public companies raised over US$ 1.7 bn fir the development of innovative synthetic biology technologies. Also, increase in number of synthetic biology research entitles and declining cost of DNA synthesizing & sequencing are some driving factors expected to propel the global synthetic biology market growth. Moreover, increase in, demand for bio-fuels, and growing awareness regarding this technologies in emerging economies will support the market growth during this forecast timeline. In addition to that, increase in research and development activities for synthetic drugs and vaccines will drive the market growth in near future.
Increase in bio-safety, ethical, as well as bio-security concerns is major restraint which is expected to hinder the global synthetic biology market growth. Also, standardization of biological parts is the challenging factor which is expected to limit the global synthetic biology market growth over the forecast period.
Market key players
Various key players are discussed in this report such as Thermo Fisher Scientific, Inc., Codexis, Inc., Synthetic Genomics, Inc, Twist Bioscience, Genscript Biotech Corporation, Intrexon Corporation, Amyris, Inc., Ginkgo Bioworks, Novozymes A/S, Agilent Technologies, Inc,, and Merck Kgaa
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