According to Future Market Insights (FMI), the United States is poised to maintain its dominance in the North American Gene Synthesis Industry from 2023 to 2033. Fueled by the surging adoption of gene editing and synthesis procedures by pharmaceutical and diagnostic developers, the demand for gene synthesis services is on the rise in the United States. Furthermore, the commercialization of synthetic gene products and the growing support of regulatory bodies, such as the United States Food and Drug Administration, are expected to propel the industry’s growth.
As a result of these advancements, North America is predicted to present an incremental opportunity of over half a billion dollars by the year 2033. This substantial growth underscores the United States’ pivotal role in driving innovation and expansion within the gene synthesis Industry, not only within the nation but also across the North American region.
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The global gene synthesis Industry is poised for remarkable expansion, with a robust compound annual growth rate (CAGR) of 19.2% during the forecast period. In 2023, the market is expected to reach a valuation of US$ 779.4 million, and by 2033, it is projected to surpass an impressive milestone, crossing the US$ 4.5 billion mark.
This substantial growth highlights the significant potential and increasing demand for gene synthesis technologies and services in various fields, including biotechnology, pharmaceuticals, and healthcare. The market’s upward trajectory reflects ongoing advancements in genetic research, gene editing, and personalized medicine.
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.
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Key Impediments
- The gene synthesis market is facing increasing challenges owing to price reductions, and tech restraints associated with the highly competitive market landscape.
Competition Structure Analysis – Gene Synthesis Industry
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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Gene Synthesis Industry 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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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