Synthetic Biology Market Poised for 19.3% CAGR Growth, Forecasted to Hit USD 96.4 Billion by 2033
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. 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…
- Date: May 15, 2024
- Author: Robert Shaw
- Category: PharmiWeb