Synthetic Biology Market is expected to witness a CAGR of 33.9% by 2028 | Thermo Fisher Scientific Inc.
January 14, 2022
Synthetic Biology is a rapidly-growing multidisciplinary field of research.
SEATTLE, WASHINGTON, UNITED STATES, January 14, 2022 /EINPresswire.com/ -- "Synthetic Biology Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook" has been added to Coherent Market Insights.
Synthetic Biology is a rapidly-growing multidisciplinary field of research. The goal of synthetic biology is to develop new biological parts and devices, and to redesign existing systems. This type of research can help develop novel materials and products to improve human health, the environment, and society. This multidisciplinary field is constantly evolving and will continue to be a valuable source of information for scientists and engineers.
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Increasing research and development as well as growing initiatives in synthetic biology is expected to fuel growth of the global synthetic biology market during the forecast period. Governments of several countries are providing research support for synthetic biology, as it has extensive applications. There are many projects and studies that are being conducted in different countries in synthetic biology to study the complexities in genomes of organisms, which help to create more efficient treatments for patients. For instance, in August 2021, the Israel Innovation Authority funded around NIS 18 million to the first synthetic biological R&D infrastructure company in Israel,
However, biosafety and biosecurity issues are expected to hinder growth of the global synthetic biology market during the forecast period.
Impact of COVID-19:
The global synthetic biology market witnessed growth during the COVID-19 pandemic. The outbreak of COVID-19 in China, caused several countries to close down their borders and suspend international travel. The growth of the market increased during the pandemic, owing to rising demand and declining production due to pandemic, and shortage of labor situations. The cost is higher than usual growing the revenue of the market. The ongoing research for COVID-19 vaccines and drugs are expected to boost the market growth due to wide applications of synthetic biology in the drug and vaccine development against coronavirus.
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The global synthetic biology market is expected to expand, exhibiting a CAGR of 33.9% over the forecast period due to extensive range of applications of synthetic biology. For instance, in July 2021, a research team at MIT developed a first synthetic circuit that comprises fast and reversible protein-protein interactions.
Among regions, North America is expected to witness strong growth during the forecast period, owing to increasing number of well-established synthetic biology companies and research institutes.
Key players active in the global synthetic biology market are GenScript, Thermo Fischer Scientific, DNA2.0, Eurofins Scientific, Inc., Integrated DNA technologies, Scientific genomics Inc., Origene technologies, Pareto Biotechnologies Editas Medicine, Inc., Twist biosciences, Blue heron, TeselaGen, Syntrox Inc.
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The following are the study objectives for this report:
‣ SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. ‣By kind, application, and region, the market is defined, described, and forecasted.
‣Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
‣Determine whether trends and factors are driving or limiting market growth.
‣By identifying high-growth categories, stakeholders would be able to analyse market potential.
‣Conduct a strategic study of each submarket's growth trends and market contribution.
‣Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
‣To create a strategic profile of the main players and analyse their growth plans in depth.
Reasons to Purchase This Report
• Current and future of Synthetic Biology Market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
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