Gene Synthesis Market is expected to surpass US$ 4.5 billion by 2033 | FMI Study
During the forecast period, the global Gene Synthesis Market is expected to grow at a steady rate of 19.2%. The market is expected to be worth US$ 779.4 million in 2023. The estimate is that by 2033, it will have surpassed 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.
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.
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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.”
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- 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%.
The manufacturers operating in the gene 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.
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Gene Synthesis Market Segmentation
- Gene Synthesis Service (Standard Gene Service, Express Gene Service, Complex Gene Service, Custom Gene Synthesis Service)
- Gene Fragments Service
- GMP Gene Synthesis
- Research and Development Activities
By End User:
- Academic and Research Institutes
- Biotechnology Companies
- Pharmaceutical Companies
- Contract Research Organization
Have a Look at Related Research Reports in the Healthcare Domain:
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