ct

Genome Engineering Boosts Synthetic Biology Market

December 11, 2017 | Contact Author | By: Jennifer Novoseletsky
Close
Fill out my online form.
  • Article
  • Keywords/Abstract
Synthetic biology

Keywords: synthetic biology market | MarketsandMarkets | oligonucleotides | genome engineering technology | pharmaceuticals | nutraceuticals | personal care | flavors and fragrances | probiotics | green chemicals | industrial enzymes

Abstract: A recent study from MarketsandMarkets shows the United States is leading the synthetic biology market with various key drivers. The market is expected to reach a new growth worth more than $8 billion in the following five years.

According to a new MarketsandMarkets published study, the synthetic biology market is expected to reach $8.84 billion by 2022 from an estimated $3.57 billion in 2017, at a CAGR of 19.9%.

The following drivers are helping the marketing progress:

  • A range of synthetic biology applications;
  • An increase in R&D funding and initiatives;
  • A rising demand for synthetic genes and synthetic cells; and
  • Growing investments in synthetic biology companies.

Oligonucleotides is expected to hold the largest market share in 2017, raising the demand for synthetic DNA, RNA and genes, which are used in various applications, including personal care, flavors and fragrances, pharmaceuticals, nutraceuticals, probiotics, green chemicals and industrial enzymes. Meanwhile, the genome engineering technology is expected to grow at the highest CAGR during the forecast period.

The United States is expected to lead the synthetic biology market in 2017, followed by the U.K. and Germany.