Increasing R&D in Synthetic Biology market to provide Higher Returns

Synthetic biology is a study that combines biology and engineering to develop biological devices that can be applied in numerous fields. This study is providing breakthroughs in the field of biology and hence, it is expected to garner greater importance in future.

Looking at synthetic biology market potential,sizeable amount is invested in R&D; hence, in future, investors could enjoy higher returns. As per Allied Market Research, Global synthetic biology market is forecast to reach $38.7 billion by 2020, growing at a CAGR of 44.2% during the estimated period. The report states that the market is expected to grow immensely with commercialization of various technologies in synthetic biology market.

Market Drivers:-

• Assistance from government and private organizations
• Increasing Research
• Declining cost of DNA sequencing and synthesizing

Market Restraints:-

• Concerns regarding Bio-safety & bio-security
• Ethical issues

The report segments the global synthetic biology market into product, application, technology,and geography. The product market is sub-segmented into enabling products, core products and enabled products. Due to greater research activities and higher R&D, enabling products market would grow the fastest.

At present, DNA synthesis is the highest application segment under the enabling products market. However, oligonucleotide synthesis, would grow fastest with a CAGR of 57.8% during the estimated time.

Biofuels, a sub-segment of enabled product segment, would grow exponentially at a CAGR of 110.1% during the forecast period.

In terms of technology market, the market is further divided into following components:-

• Enabling technology
• Enabled technology

In terms of application, the market is sub-segmented on the following basis:-

• Research & development
• Chemicals
• Agriculture
• Pharmaceuticals & diagnostics
• Biofuels
• Others

Europe leads the global synthetic market and it is expected to lead the market during the analyzed period. However, Asia pacific would register highest growth rate with a CAGR of 46.4% during 2014 – 2020.

The reports also provides detailed view about important market players. They are:-

• BASF
• GEN9 Inc.
• Algenol Biofuels
• CodexisInc
• Gensript Corporation
• Dupont
• Butamax Advanced Biofuel
• BioAmber
• BioSearch Technologies, Inc.
• Origene Technologies, Inc.
• Synthetic Genomics, Inc.

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