The global synthetic biology market is projected to grow significantly, with its market size expected to reach USD 96.4 billion by 2033, up from USD 16.5 billion in 2023, exhibiting a robust CAGR of 19.3% during the forecast period from 2024 to 2033. This growth is primarily driven by advancements in biotechnology, increased R&D investments, and the expanding applications of synthetic biology across various sectors, including healthcare, agriculture, and industrial biotechnology.

Synthetic Biology Market Forecast Graph

One of the key growth factors is the increasing use of synthetic biology in healthcare for developing personalized medicines, gene therapies, and diagnostic tools. The sector is witnessing significant investments aimed at leveraging synthetic biology for drug discovery and biomanufacturing, enhancing the scalability and efficiency of production processes. For instance, the U.S. invested over USD 31.9 billion in the development and production of mRNA COVID-19 vaccines, highlighting the pivotal role of synthetic biology in addressing global health challenges​.

Challenges in the synthetic biology market include biosafety and biosecurity concerns, ethical issues, and pricing pressures due to reimbursement cuts. These factors necessitate stringent regulatory frameworks and continuous monitoring to ensure safe and ethical practices in the application of synthetic biology technologies​.

Recent developments in the market underscore the dynamic nature of the industry. Notably, the establishment of new facilities and significant funding initiatives are propelling the market forward. In 2022, SynbiCITE, the UK’s National Centre for Industrial Translation of Synthetic Biology, received a grant of USD 6.6 million to support startups and SMEs, fostering innovation and commercialization in synthetic biology. Additionally, investments in bioenergy research by the U.S. Department of Energy aim to improve sustainable technology solutions, further driving market growth.

The synthetic biology market is set for substantial growth, driven by technological advancements, strategic investments, and expanding applications. However, addressing biosafety, ethical concerns, and regulatory challenges will be crucial for sustaining this growth trajectory.

Key Takeaways

  • In 2023, the Synthetic Biology Market was valued at USD 16.5 Billion.
  • The market is expected to grow at a CAGR of 19.3% from 2023 to 2033.
  • By 2033, the global Synthetic Biology market is anticipated to reach approximately USD 96.4 Billion.
  • Synthetic biology modifies or creates living organisms to give them new abilities, impacting medicine, product development, and agriculture.
  • Advancements in gene editing, therapeutic genome editing, and biocomputing have been significant in synthetic biology.
  • Synthetic biology has led to the creation of CAR-Ts, genome-edited soy, sitagliptin, diamines, and leghemoglobin.
  • PCR technology accounted for 28.1% of total revenue in 2023, due to its speed, simplicity, and precision.
  • NGS technology is expected to experience the fastest CAGR, enabling DNA synthesis and targeted DNA introductions into cells.
  • In 2023, the healthcare segment contributed 18.7% of all revenue, improving biopharmaceutical drug discovery.
  • Biotechnology and pharmaceutical companies held a 52.3% market share in 2023, using synthetic biology for new drug creation.
  • Oligonucleotide/oligo pools and synthetic DNA generated the most revenue in 2023, expected to grow at the fastest CAGR.
  • In 2023, the United States led the global Synthetic Biology market, accounting for 42.1% of total revenue.

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Synthetic Biology Market Key Segments

Product

  • Enzymes
  • Oligonucleotide/Oligo pools and Synthetic DNA
  • Xeno-nucleic Acids
  • Cloning Technologies Kits
  • Chassis Organism

Technology

  • PCR
  • NGS
  • Bioprocessing Technology
  • Genome Editing
  • Other Technologies

Application

  • Healthcare
    • Non-Clinical/Research
    • Clinical
  • Non-Healthcare
    • Specialty Chemicals
    • Biotech Crops
    • Bio-Fuels
    • Other Non-Healthcare

End-Use

  • Academic & Government Research Institutes
  • Biotechnology & Pharmaceutical Companies
  • Other End-uses

Key Regions

  • North America (The US, Canada, Mexico)
  • Western Europe (Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe)
  • Eastern Europe (Russia, Poland, The Czech Republic, Greece, Rest of Eastern Europe)
  • APAC (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC)
  • Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, Rest of Latin America)
  • Middle East & Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA)

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Key Players Analysis

Founded in 2019, Bota Biosciences Inc. focuses on industrial synthetic biotechnology. They have developed a next-generation biotechnology platform that combines computational methods with advanced bioengineering. This platform enables the sustainable and economical production of high-value products such as sweeteners, vitamins, and personal care items. Bota Biosciences has secured significant funding, including a $100 million Series B round, backed by investors such as BASF Venture Capital. Their innovative approach and strong industry partnerships position them as a key player in the synthetic biology market​ (BASF)​​.

Codexis Inc. specializes in protein engineering and enzyme optimization. Their proprietary CodeEvolver technology enables the rapid development of high-performing enzymes for pharmaceuticals, food, and industrial applications. Codexis collaborates with major companies to enhance biocatalysis processes, improving efficiency and reducing costs. Their contributions to synthetic biology include creating novel enzymes that drive advancements in drug development and sustainable industrial processes. Codexis’s technology not only accelerates product development but also supports the growing demand for environmentally friendly biomanufacturing solutions​.

Creative Biogene offers a comprehensive range of products and services in the synthetic biology sector, including gene synthesis, genome editing, and custom DNA constructs. Their solutions support research in areas such as drug discovery, genetic engineering, and agricultural biotechnology. By providing high-quality genetic materials and cutting-edge genome editing tools, Creative Biogene facilitates advancements in synthetic biology. Their expertise and extensive product portfolio make them a valuable resource for researchers aiming to innovate and optimize biological systems​.

Creative Enzymes focuses on the production and supply of enzymes for various industrial and research applications. They offer custom enzyme development and optimization services, catering to the needs of the pharmaceutical, biotechnology, and food industries. By leveraging advanced techniques in enzyme engineering, Creative Enzymes helps clients achieve improved reaction efficiency and sustainability. Their contributions to synthetic biology include developing specialized enzymes that enhance biochemical processes and support innovative research projects​.

Enbiotix Inc. is a biotechnology company that utilizes synthetic biology to develop novel antimicrobial therapies. Their approach involves engineering bacteriophages and other biological agents to target and eradicate bacterial infections, particularly those resistant to conventional antibiotics. Enbiotix’s innovative solutions address critical needs in healthcare, offering new treatment options for multi-drug-resistant infections. By harnessing the power of synthetic biology, Enbiotix aims to revolutionize the way bacterial diseases are treated, enhancing patient outcomes and public health​.

Synthetic Biology Market Key Players:

  • Bota Biosciences Inc.
  • Codexis Inc.
  • Creative Biogene.
  • Creative Enzymes.
  • Enbiotix Inc.
  • Illumina Inc.
  • Merck Kgaa (Sigma-Aldrich Co. Llc)
  • New England Biolabs
  • Euro fins Scientific
  • Novozymes
  • Pareto Bio Inc.
  • Scarab Genomics Llc
  • Synthego
  • Synthetic Genomics Inc.
  • Thermo Fisher Scientific Inc.
  • Other Key Players

Synthetic Biology Market Report Scope >> Market Value (2023): USD 16.5 Billion || Forecast Revenue (2033): USD 96.4 Billion || CAGR (2024-2033): 19.3% || Base Year Estimation: 2023 || Historic Period: 2019-2022 || Forecast Period: 2024-2033.

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