Synthetic Biology Market: Market Overview
Synthetic biology market is a technology which has now a massive demand in the biotechnology sector, chemical and biofuel industries and their products will outstrip the products of the other industries in the near future. There is progress towards making this technology useful in the therapeutic areas from which the society can be directly benefited.
The success of synthetic biology in DNA sequencing and synthetic microbes in vaccines, faster and efficient modular DNA assembly methods has proved to be a potential market and thus there is a significant investment done by the pharmaceutical and healthcare companies.
Synthetic Biology is one of the breakthrough technologies developed by mankind from chemistry, biology, computer science and engineering which ultimately changed the approach towards therapeutics. It has a varied areas of applications in biofuels, industrial enzymes, vaccine and antibody production, bio-based chemicals and synthetic biology life science research.
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Synthetic Biology Market: Dynamics
Internationally, companies have started investing in Synthetic biology as many governmental bodies are turning towards biomass and climate change. In past few years synthetic biology has gained industrial interest which has a large scale applications and potential of new gene editing techniques are some of the drivers for this market.
Traditional medicines are being replaced by genetically engineered products, DNA sequencing and DNA synthesis technologies. This market though has a potential there with any advances there are risks and hindrance like government regulations and policies, biosafety and biosecurity issues, bio-war but these issues are being addressed by the regulatory bodies and research institutions.
The synthetic biology market has changed the complete approach towards traditional ways of combating with newer diseases and genetic challenges with the advanced computing and design systems.
Synthetic Biology Market: Region-wise Outlook
Depending on geographic regions, global radiofrequency ablation system market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
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Europe is a leading market followed by North America, Europe has invested in developing synthesis of biologically based or biologically inspired systems. In North America Defense is a major contributor in the investment done in the past years. In Asia, India and China are said to progress in developments over future to be a part of the Synthetic biology market.
The success of this market will depend upon the conversion from basic research to applications which will rise the future opportunities to understand the natural biological systems. Thus the market for synthetic biology is showing no sign for slowing down but managing the future social, ethical and legal responsibilities will lead to innovation.
Synthetic Biology Market: Key Players
The major key players in the synthetic biology market are Thermo Fisher Scientific Inc., Agilent Technologies, GEN9, Sigma-Aldrich Co. LLC., Amyris Biotechnologies, Epoch Life Science Inc., Gevo Inc., Intrexon Corporation, Sangamo Biosciences and Gingko Bioworks.
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Synthetic Biology Market: Segmentation
Synthetic Biology market is basically can be classified into products, technology and applications.
Based on product:
- Core Products.
- Synthetic DNA
- Synthetic Genes
- Synthetic cells
- DNA & RNA Purification Kits
- Recombinant Proteins
Based on technology:
- Mutagenesis
- DNA sequencing
- Genome engineering
Based on applications:
- Pharmaceutical Companies
- Research Organizations
- Chemical Industries
- Universities
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