Global Synthetic Biology Market – Focused Insights 2024-2029

MARKET INSIGHTS

The global synthetic biology market was valued at USD 15.20 billion in 2023 and is expected to reach USD 59.91 billion by 2029, growing at a CAGR of 25.68% during the forecast period. The market experiences growth despite regulatory challenges due to synthetic biology's various applications. The factors responsible for market growth include the increased cost competitiveness across existing segments, such as health, agriculture, and manufacturing. Synthetic biology accelerates agriculture yields through crop engineering, and manufacturing engineered biology to replace complex chemical reactors, and developing more novel, high-value products and technologies.

Synthetic biology is the application of engineering principles to biology, allowing for the modification of entire organisms to serve specific purposes. Unlike traditional biotechnology, which alters existing functions in an organism by transferring small amounts of genetic material, synthetic biology focuses on introducing new features or redesigning organisms with enhanced properties. Its applications range from developing new treatments and vaccines to producing biomaterials, biosensors, and biofuels. As scientific understanding of biological systems advances, the potential applications of synthetic biology are expected to expand significantly.

MARKET TRENDS & DRIVERS

Increasing Applications of Synthetic Biology Products

Synthetic biology is revolutionizing real-world applications across multiple industries, including food, pharmaceuticals, and agriculture. From 2000 to 2021, significant advances in synthetic biology tools have enabled biotechnology, pharmaceutical, and agriculture companies to develop innovative products with real-world impact. Impossible Foods has transformed the plant-based food market by engineering the yeast Pichia pastoris to produce soy leghemoglobin, a key component in replicating the taste and experience of a traditional hamburger. Advances in metabolic engineering have efficiently transferred large metabolic pathways from natural sources to production hosts like yeast. This breakthrough enables the production of plant-based burgers with authentic meaty flavors, creating a new category of food products that appeal to both consumers and environmental advocates. As synthetic biology advances, the next decade promises even greater innovations that will enhance the performance and affordability of products across life sciences, pharmaceuticals, and industrial sectors. The field's growing influence offers significant opportunities for companies looking to harness its transformative potential.

The Rise of Bio-Based Products and Sustainable Energy Solutions

The synthetic biology sector is transforming, driven by the growing global demand for bio-based products and sustainable energy solutions. This growth is propelled by breakthroughs in genetic engineering, metabolic engineering, and synthetic biology tools, which have significantly enhanced the ability of researchers to manipulate microorganisms to produce high-value chemicals and fuels. These microorganisms are now engineered to efficiently convert renewable resources, such as biomass, algae, and waste materials, into diverse valuable products. This shift marks a departure from traditional methods that relied heavily on non-renewable resources, offering a more sustainable and environmentally friendly approach to manufacturing. One of the most notable impacts of these advancements is the ability to produce biofuels from non-food biomass. This innovation provides a renewable alternative to fossil fuels and helps address pressing issues of energy security and environmental sustainability. By utilizing resources that would otherwise contribute to waste, synthetic biology enables the creation of biofuels with a significantly lower carbon footprint than conventional fuels.

Rising Use of Synthetic Biology in Multiplexed Diagnostics and Therapeutic Genome Editing

The field of synthetic biology is witnessing significant growth in its application for multiplexed diagnostics and therapeutic genome editing. This trend is driven by the technology's ability to engineer highly precise, customizable solutions that can address complex healthcare challenges. Multiplexed diagnostics, which involve the simultaneous detection and analysis of multiple biomarkers or pathogens, are becoming increasingly sophisticated thanks to synthetic biology. This technology allows for the design of synthetic gene circuits and CRISPR-based systems to identify multiple disease indicators in a single test, leading to faster, more accurate diagnoses. In therapeutic genome editing, synthetic biology revolutionizes how genetic disorders are treated. By leveraging tools like CRISPR-Cas9, researchers can target and edit multiple genes simultaneously, offering potential cures for previously difficult or impossible conditions. These advancements are particularly impactful in developing personalized medicine, where therapies can be tailored to an individual's unique genetic makeup. The growing use of synthetic biology in these areas is enhancing the effectiveness of diagnostics and treatments, reducing costs, and improving accessibility.

INDUSTRY RESTRAINTS

Threat to Existing Technologies

Synthetic biology start-ups and established chemical companies invest in various technologies to enter the market. Innovations in synthetic biology will hurt existing industries. In most cases, the more beneficial technology is widely accepted in the market. Many companies invest in various synthetic biology applications-based products. For instance, high-income countries like the US and the UK have more market patents than middle-income countries like India. These innovations largely impact their economies. Innovations in synthetic biology will hurt existing industries and can disrupt their processes.

SEGMENTATION INSIGHTS

INSIGHTS BY TOOL

The global synthetic biology market by tool is segmented into oligonucleotides and synthetic DNA, enzymes, cloning technology kits, xeno-nucleic acids, and chassis organisms. The oligonucleotides and synthetic DNA segment holds the largest market share. Oligonucleotides, short DNA or RNA molecules, play a critical role in genetic testing, research, and forensics due to their stable, efficient, and rapid synthesis. These oligomers are primarily synthesized using the solid-phase phosphoramide method, allowing for the creation of specific sequences with desired chemical structures and functions. The widespread application of oligonucleotides, particularly primers and probes, has revolutionized fields such as PCR amplification, DNA sequencing, and molecular diagnostics. The future of oligonucleotide applications is set to expand significantly with the advent of next-generation DNA synthesizers. These advanced technologies, like the earlier revolution of desktop PCR thermocyclers and DNA sequencers, can potentially transform drug discovery and development. The ability to synthesize high-precision synthetic DNA sequences on demand offers researchers unprecedented opportunities to design novel structures and therapeutic approaches. This technological advancement could lead to new biomolecular therapies, including enzymes, peptides, RNA catalysts, and aptamers, pushing the boundaries of what is currently possible in drug development.

INSIGHTS BY TECHNOLOGY

The global synthetic biology market by technology is categorized into enabling technology and enabled technology. The enabling technology shows significant growth, with the fastest-growing CAGR during the forecast period. Enabling technologies are pivotal in advancing the global synthetic biology market, comprising key areas such as gene synthesis, bioinformatics, genome engineering, cloning technology, mutagenesis, gene measurement and modeling, and microfluidics. These technologies provide the foundation for innovation and development across various fields, including agriculture, medicine, and biotechnology. Gene synthesis is a fundamental method in synthetic biology, enabling the engineering of artificial genes in laboratory settings. This technology forms the basis of genetic engineering, allowing scientists to create genes with specific characteristics, such as resistance to bacteria. Gene synthesis enhances our understanding of agricultural growth and improves plant viability under different climatic conditions and exposure to harmful bacteria.

INSIGHTS BY APPLICATION

Based on the application, the healthcare application accounted for the largest global synthetic biology market share. Basic life sciences are instrumental in the growth of synthetic biology, providing a foundation for innovation and the development of new tools and techniques. The collaboration between scientists, engineers, and chemists in this field has led to the creation of a wide array of tools that advance the goals of synthetic biology. Life science researchers are the primary users of synthetic biology products, employing these innovations to enhance existing designs and applications and explore new aspects of nature, pushing the boundaries of what is possible in synthetic biology. Synthetic biology is being applied across various disciplines within the life sciences, with certain fields taking the lead in integrating these technologies into their research. Areas such as immunology, genetics, neuroscience, cancer research, reproductive sciences, and structural biology are at the forefront of applying synthetic biology to advance their studies. These disciplines leverage synthetic biology to develop innovative solutions previously unattainable with traditional methods, significantly contributing to advancements in healthcare.

INSIGHTS BY END-USER

Based on the end-user, the pharma and biotech companies show the highest growth in the global synthetic biology market. Pharma and biotech companies have been pivotal in the early successes of synthetic biology, largely due to the inherent connection between synthetic biology and the production of small-molecule drugs. Many of these drugs are derived from natural products, making a return to microbial production systems relatively straightforward. Additionally, the modular nature of many biosynthetic pathways, particularly those involved in producing bioactive natural products like antibiotics, allows for applying synthetic biology's engineering approaches. These pathways, shaped by evolutionary needs for rapid diversification and cross-species compatibility, often consist of large modular assembly lines that provide ideal starting points for synthetic biology applications.

GEOGRAPHICAL ANALYSIS

North America dominates the global synthetic biology market share. In North America, the synthetic biology landscape is particularly vibrant, with over 530 regenerative medicine companies, including those specializing in cell and gene therapy and stem cell-based medicines. These companies are heavily involved in research and development, utilizing synthetic biology products to advance medical treatments. The US, in particular, is a global leader in conducting cell and gene therapy-based clinical trials, with a growing number of patients opting for these innovative treatments. Regulatory approvals for these therapies are also more frequent in North America, further driving the region's leadership in this field.

COMPETITIVE LANDSCAPE

The global synthetic biology market report contains exclusive data on 38 vendors. The market is highly competitive, with major players like Agilent Technologies, Codexis, Eurofins Scientific, Illumina, Novozymes, and Thermo Fisher Scientific holding significant market shares. These companies face strong competition from emerging and established players, driving continuous technological innovation and product development across various sectors such as healthcare, industrial applications, food and beverages, agriculture, and environmental solutions. To maintain their market position and expand their presence, key players in the synthetic biology market focus on organic growth strategies, including launching new products, innovating existing ones, and securing patents for new technologies.