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Synthetic Biology Market to
Witness 35% CAGR During 2015 –
2020
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Synthetic Biology Market
The global synthetic biology market was valued at $3,933.9 million in 2014, and it is expected to
grow with a CAGR of 35.4% during the period 2015 - 2020. The global synthetic biology market is
growing, due to increasing support from government organizations, and growing geriatric
population. In addition, the innovative and advanced applications of synthetic biology, increasing
research activities, and increasing R&D investments in drug discovery and development are also
supporting the growth of this market.
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Synthetic Biology Market
The increasing support from government organizations and growing geriatric population are
playing a pivotal role in the growth of this market. Some of the major organizations include
National Science Foundation (NSF), National Aeronautics and Space Administration (NASA), Centre
for Chemical and Synthetic Biology (CCSB), Synthetic Biology Engineering Research Center
(SynBERC), and International Association Synthetic Biology (IASB). These organizations are
providing support in form of funding, and initiatives implemented by them for basic and applied
research with their respective goals.
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Synthetic Biology Market
Additionally, the innovative and advanced applications of synthetic biology, increasing research
activities, and increasing R&D investments in drug discovery and development are also supporting
the growth of this market. However stringent regulatory requirements, expensive research
procedures, and harmful effects of synthetic biology act as hindrance in the growth of the global
market. The growing number of mergers and acquisitions is one of the latest trends observed in
this market.
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Synthetic Biology Market
Geographically, North America dominated the global market, among all the regions in 2014; and it is
expected to grow with a CAGR of 35.2% during the period 2015 – 2020. However, the Asian market is
expected to witness fastest growth, with a CAGR of 39.8% during the forecast period.
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The key companies operating in the global synthetic biology market include E. I. du PONT de Nemours
and Company, Amyris Inc., GenScript USA Inc., Intrexon Corporation, Thermo Fisher Scientific Inc.,
Synthetic Genomics Inc., Royal DSM, Novozymes A/S, New England Biolabs Inc., and Integrated DNA
Technologies Inc.
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