Gene Synthesis Market is predicted to reach US$ 2,257 Mn in 2029 at a CAGR of 19.6% from 2022 – 2029
The global gene synthesis market will expand at an exponential 20% CAGR through 2029. According to a new study by Future Market Insights (FMI), the market for gene synthesis is largely influenced by increasing applications in research institutes, clinical research organizations, and biopharmaceutical companies around the globe, for a variety of products and services.
Key Research Findings
- On the basis of services, gene services will account for more than 45% of the overall revenue share through the forecast period.
- Standard gene synthesis will remain a preferred variant through the forecast period among consumers driven by low service costs.
- Research and development activities at academic and research institutes, will lead the market in terms of end user applications, accounting for more than 50% of market share.
- Gains of the global gene synthesis market will remain largely concentrated in North America.
- The East Asia Market will display lucrative opportunities, driven by healthcare programs through the forecast period.
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Key Growth Drivers
- Strong activity taking place in the emerging field of synthetic biology plays a major role in the growth of market.
- Widespread use of gene synthesis services for multiple drug development applications to add to the global footprint of players.
- Extensive use of molecular applications for higher service quality and customer loyalty is a major factor contributing to market growth.
- The development of genomic based studies for noble therapeutic applications will drive adoption.
- The gene synthesis market is facing increasing challenges owing to price reductions, and tech restraints associated with the highly competitive market landscape.
- Explore the complete gene synthesis market report with 93 illustrative figures, 43 data tables, and the table of contents. Also find a detailed market segmentation on https://www.futuremarketinsights.com/reports/gene-synthesis-market
Competition Structure Analysis – Gene Synthesis Market
The competition landscape of gene synthesis market remains Highly consolidated. Key players are also investing in strengthening service infrastructure, to keep up with the needs of commercialization. Players are also focusing their efforts towards emerging economies including India, Mexico, and Brazil.
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