Gene Synthesis Market In-Depth Analysis, Growth Strategies and Comprehensive Forecast to 2033
As per FMI, the Gene Synthesis Market is expected to reach US$ 779.4 million in 2023. Furthermore, the market is projected to record a CAGR of 19.2% during the forecast period, and by 2033, the valuation is expected to surge beyond US$ 4.5 billion.
The current biotechnology system relies heavily on the DNA synthesis
technique, which is believed to be an important aspect of synthetic biology.
This has helped healthcare professionals understand the structure of pathogens
and other kinds of microorganisms. These factors are expected to surge the demand
for gene synthesis during the forecast period.
For more information: https://www.futuremarketinsights.com/reports/gene-synthesis-market
A wide variety of methods are specifically employed for DNA complexity
and length. These activities are specifically aimed at understanding the
DNA/RNA structure. There are a lot of scientists who are working to understand
their sequencing. Such methods would assist in developing medications that
ensure physical wellness, which would brighten the prospects for gene
synthesis.
Governments and private bodies worldwide are making massive investments
in genome sequencing. In April 2021, the United States government announced an
investment of US$ 1.7 billion in genome sequencing. Likewise, the United
Kingdom government announced an investment of US$ 175 million in genomics
research in December 2022.
The surging geriatric population across the globe has led to an increase
in the adoption of gene synthesis. These help in the diagnosis and treatment of
diseases. The synthesis of genes with cloning has led to reduced cost and
reduction of time as well, which becomes crucial while treating elderly
patients. Gene synthesis is also used for various applications, including gene
therapy, molecular engineering, etc.
As per FMI market researchers, “Increased application of DNA synthesis
technology, application of a wide variety of methods which help in
understanding DNA complexity and length, colossal investments from government
and private bodies, and various other factors are expected to surge the gene
synthesis market share.”
Key Takeaways:
- The market is
expected to record a CAGR of 19.2% during the forecast period.
- In 2023, the
valuation is expected to be US$ 779.4 million.
- By 2033, the
estimation is anticipated to cross US$ 4.5 billion.
- Based on the
regional analysis, Asia Pacific is expected to be the leading market.
- The United
States market is expected to surge at 15.7%.
- The United
Kingdom market is projected to grow at 21.4% due to the increasing
adoption of molecular engineering.
- China market is
anticipated to advance at 29.2% due to increasing development in Genomics.
- Japan market is
projected to register a CAGR of 24.1%.
- South Korea's
gene synthesis market is expected to record a growth rate of 21.6%.
- Based on
service type, the gene synthesis service segment is expected to hold the
dominant market share and might surge to 16.5%.
- Based on
application, research and development is projected to be the leading
segment and is expected to grow at 18.4%.
Competitive Landscape
The manufacturers operating in the DNA synthesis market are expected to make high
investments in mergers and acquisitions. This is a key step towards expanding
the market share. In addition, the key players are also forming strategic
partnerships with players from other niches to access technologies that might
benefit them. Furthermore, with concerns around carbon emissions, the
manufacturers are also taking initiatives to cut carbon emissions.
Key developments in the market:
- In September
2022, GenScript announced its collaboration with Gladstone-UCSF Institute
of Genomic immunology for a Groundbreaking non-viral cell therapy study.
- In January
2023, Twist Bioscience and CENTOGENE launched three panels to advance rare
disease and hereditary cancer research and support diagnostics.
Gene Synthesis Market Segmentation
By Service:
- Gene Synthesis
Service (Standard Gene Service, Express Gene Service, Complex Gene
Service, Custom Gene Synthesis Service)
- Gene Fragments
Service
- GMP Gene
Synthesis
- Others
By Application:
- Diagnostics
- Therapeutics
- Research and
Development Activities
- Others
By End User:
- Academic and
Research Institutes
- Biotechnology
Companies
- Pharmaceutical
Companies
- Contract
Research Organization
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