Advances in Synthetic Biology Space Will Lead to Improvement in Human Health

Synthetic biology market involves an interdisciplinary area of research, which explores the complexity of biological systems. It is where engineering meets biology to develop cutting-edge solutions for medical and biotechnology end verticals, mainly using top-down and bottom-up approaches. This novel discipline of research spanning across multiple disciplines, includes molecular biology, biotechnology, biophysics and genetic engineering. It holds great potential as an investigative and therapeutic modality because of the understanding of existing biological systems it provides, for producing useful synthetic products in laboratory. Research throughputs may also involve construction of de novo biological systems and devices for a better understanding of intercellular communication and biological processes.

Industry players in the pharmaceutical and biotechnology sector see great possibilities in using synthetic biology for several therapeutic and diagnostic market applications, which improve healthcare delivery across the world. Recent clinical activities have sincere focus on building significant real-life applications such as targeted cancer treatments, toxicity sensors, and living factories. Scientists perform genetic modification in organisms to enable production of valuable chemicals inside them. Leading companies invest and rework on manufacturing new DNA sequences for the same. The chemicals generated from biological functions inside modified microbes would cater to demand from companies dealing in flavor, fragrance, and cosmetics industries apart from the pharma developers.

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The field of research in itself is extremely vast and so are its application segments. Any named industry could expect monumental benefit prospects from the clinical outcomes. Some of the inventions are now almost ready to be launched on market platforms for further applications. However, there still exists several concerns that trouble researchers related to the efficacy, safety, and stability of novice solutions and pose major challenges to the market. Enthusiastic assistance from regional ruling bodies as well as certain private organizations, cost optimization of DNA sequencing services, and progressions in fabricating microbial genomes are the key factors that now foster growth of the market. 

Ethical concerns with regard to the misuse of synthetic biology or possible hazards of accidental release of pathogens into free atmosphere continue to remain as major challenges for the market. For instance, one of the major safety concerns associated with engineering microbes is the accidental transfer of genes to wild organisms which may lead to unpredictable and detrimental results. The absence of a uniform regulatory framework restrains growth of the industry verticals in regional markets across the globe. Although, multiple discussions on compulsory regulation for relevant business verticals have been initiated at different levels in the current scenario. Reviewing organizations expect flooding of patent registrations, that may or may not cause delay in approvals. Officials though clearly point out that regulatory bodies are driven mainly by the motive of discoveries rather than their synthesis. The importance of maintaining cold-chains to efficiently store and transport genetic extracts also inspires the quality of research facilities. 
In 2015, Europe dominated the world market in terms of revenue generation, closely followed by North America. Reports stipulate that the Europe region would maintain its leadership throughout 2014 to 2022.  Favorable support policies from government and awareness initiatives by private organizations encourage emergence of small start-ups. The same also stimulates increased investment by top market players, especially in the biofuel segment and foster the synthetic biology market across the forecast period. The adoption of genetically machined crops among farmers and food producers promises safer reaps and heavy growth opportunities for agricultural industry.

Public sector agencies and private sector investors in the market are investing a large amount of money to fund researches in the synthetic biology programs. Scholarly groups at educational facilities use these funds to furnish their investors with their research findings. Collaborative efforts give rise to a learning atmosphere beneficial for both industries and scholars. Industry majors focus on business strategies such as joint ventures for an interactive and mutual progress which helps them keep a tab of the latest breakthroughs. This leads to world-changing innovations impacting sectors such as agriculture, energy and health. 

As per a report by analysts at Allied Market Research, world synthetic biology market was valued at $5,245.7 million in 2015, and forecast to grow at a CAGR of 23% during 2014–2020. Industry stakeholders and prospective investors need to keep an eye on the present scenario as well as future possibilities in order to tap profitable areas at the appropriate time.

 

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