New York, Sept. 12, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Market.us, the Global Gene Synthesis Market size is expected to be worth around USD 8.3 Billion by 2032 from USD 1.7 Billion in 2022, growing at a CAGR of 17.7 % during the forecast period from 2023 to 2032.
Gene synthesis is a laboratory technique used to create artificial genes or DNA sequences. In order to create a desired gene sequence, gene synthesis involves the assembly of nucleotides in a specific order. The Gene Synthesis Market is an exciting segment at the cutting edge of biotechnology and genetic research, featuring the artificial creation of DNA sequences, genes or whole genomes for scientific or industrial uses. This technology has wide-ranging applications such as gene therapy, vaccine development, drug discovery, and genetic engineering; which makes this an essential resource.
Key Takeaway
- By method, the solid-phase synthesis segment dominated the market with the highest revenue share of 38%.
- By application, the gene & cell therapy development segment is likely to grow at the highest rate, with a revenue share of 39%.
- By end-user, academic & government research institutes dominate the segment with a revenue share of 51% in the account.
- North America held a significant revenue share of 42% in 2022.
- Asia Pacific market is projected to increase at a high CAGR during the forecast period.
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The rise in the global geriatric population, the rising prevalence of different chronic diseases, and increasing investments in synthetic biology are major factors that are likely to propel the growth of the market during the estimated time period. Moreover, increasing global demand for personalized medicine, rising research and development in the field of genomics, and the launch of new advanced products are expected to positively contribute to the overall market growth over the projected time period.
Factors affecting the growth of the Gene Synthesis Market?
Several factors can affect the growth of the Gene Synthesis Market. Some of these factors include:
- Increasing prevalence of chronic diseases: Gene synthesis enables researchers to study the genetic components of various chronic diseases. By synthesizing specific genes or gene fragments associated with these diseases, scientists can gain insights into the underlying mechanisms and develop a better understanding of how they function. Thus, the rising prevalence of chronic diseases is expected to drive the demand for gene synthesis during the projection period.
- Investments in synthetic biology: According to data from PitchBook, between 2010 and 2020, the cumulative global venture capital investment in synthetic biology exceeded $10 billion. The annual investment levels have been increasing, indicating growing investor interest in the field. Thus, increasing investments in synthetic biology is a key factor stimulating the demand for gene synthesis during the forecast period.
Top Trends in Global Gene Synthesis Market
Rising technological advancements
Blockchain technology is being explored to enhance transparency, security, and traceability in the gene synthesis process. By leveraging blockchain, stakeholders can track and verify the origin, authenticity, and integrity of synthesized gene sequences, ensuring confidence in the data and materials used in research and development. These technological advancements are expected to stimulate the growth of the market in the upcoming time period.
Market Growth
The rising prevalence of several chronic diseases is driving the demand for gene synthesis during the estimated time period. Also, increasing rising research and development in the field of genomics, along with rising demand for personalized medicine, are key factors stimulating the market's growth during the projected time. Furthermore, new product approvals, technological advancements, and strategic investments by key players are likely to propel market growth during the forecast period.
Regional Analysis
North America region leads the market by accounting for a significant revenue share of 42%. The presence of a strong biopharmaceutical sector and increasing focus on research and development are key factors that are expected to stimulate the growth of the market in the region during the projection period. Moreover, new advancements in precision medicine, genetic research, synthetic biology, drug discovery, industrial biotechnology etc., are expected to positively impact the market growth during the estimated time period. The Asia-Pacific region is expected to grow at a high growth rate over the forecast period. Rising genetic research and genomics initiatives are likely to drive the growth of the market in the region during the forecast period.
Competitive Landscape
Some of the major players include Integrated DNA Technologies, Inc., Eurofins Genomics, GenScript, ProMab Biotechnologies, Inc., Codex DNA, Boster Biological Technology, Beijing SBS Genetech Co. Ltd, OriGene Technologies Inc., Genewiz Inc., ProteoGenix, Inc., Biomatik, and other key players.
Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | US$ 1.7 Billion |
| Forecast Revenue 2032 | US$ 8.3 Billion |
| CAGR (2023 to 2032) | 17.7% |
| North America Revenue Share | 42% |
| Base Year | 2022 |
| Historic Period | 2016 to 2022 |
| Forecast Year | 2023-2032 |
Market Drivers
Rising prevalence of chronic diseases and investments in synthetic biology
The prevalence of chronic diseases is increasing all over the world. According to the December 2021 official figures published by the International Diabetes Federation (IDF), there were around 537 million individuals (20-79 years) living with diabetes worldwide in 2021, with the federation projecting that this number would climb to 783 million by 2045. Thus, the rising prevalence of chronic diseases is a key factor that is expected to drive the demand for gene synthesis during the forecasted time period. Also, investments in synthetic biology investments are expected to fuel the growth of the market during the projection period.
Market Restraints
Ethical concerns and the high cost of gene synthesis
Gene synthesis has the potential to create controversial or potentially dangerous DNA sequences. The ability to synthesize genes raises ethical concerns, including the potential for bioterrorism, the creation of harmful pathogens, or the misuse of synthesized DNA for illegal activities. Ensuring responsible use and oversight of gene synthesis technology is crucial. Therefore, regulatory issues involved in the approval of gene synthesis may limit the market growth during the projected time period. Also, the market's growth is anticipated to be negatively impacted by the high cost of gene synthesis.
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Market Opportunities
Rising government support
Several governments across the globe are heavily investing in research infrastructure, including shared facilities and centers that offer gene synthesis services. These advanced facilities provide researchers with access to high-quality state-of-the-art equipment, technologies, and expertise in gene synthesis. By supporting the establishment and maintenance of such infrastructure, governments aim to enhance research capabilities and foster collaboration within the scientific community. Thus, increasing government support for gene synthesis is likely to contribute to the market growth and provide many lucrative growth opportunities for the market in the upcoming time period.
Report Segmentation of the Gene Synthesis Market
By Method Insight
Solid-phase synthesis leads the method segment by accounting for a major revenue share in the market. Cost affordability and time efficiency offered by the solid-phase synthesis method is a major factor driving the segment growth during the forecast period. Also, PCR-based enzyme synthesis is expected to grow at a high rate during the forecast period. The rapid turnaround time offered by PCR-based enzyme synthesis is a key factor stimulating segment growth during the projection period.
By Application Insight
The gene & cell therapy development segment is expected to lead the application segment. The high demand for gene synthesis in gene and cell therapy development is primarily driven by the need for customized therapeutic genes, rapid prototyping, safety compliance, scalability, and the ability to access rare or complex gene sequences. Moreover, the disease diagnosis segment is expected to grow at a high rate during the projection period. A major role played by gene synthesis in the diagnosis of rare genetic diseases is a key factor driving segment growth over the estimated time period.
By End-user Insight
Academic & government research institutes dominate the end-user segment by accounting for the largest revenue share in the market. Increasing adoption of gene synthesis in research institutes, along with implementation of key collaborative programs are key factors driving the segment growth during the estimated time period. Also, biotechnology & pharmaceutical companies are anticipated to witness high growth during the projection period. Overall, the demand for gene synthesis in biotechnology and pharmaceutical companies is driven by the need for customization and optimization, accelerated research and development, access to rare or complex sequences, intellectual property protection, scale-up and production, high-throughput screening, gene therapy, and genome editing, as well as collaborations and resource sharing.
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Market Segmentation
By Method
- Solid-phase Synthesis
- Chip-based Synthesis
- PCR-based Enzyme Synthesis
By Application
- Gene & Cell Therapy Development
- Vaccine Development
- Disease Diagnosis
- Other Applications
By End-User
- Biotechnology & Pharmaceutical Companies
- Academic & Government Research Institutes
- Contract Research Organizations
By Geography
- 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
Competitive Landscape
The global Gene Synthesis market is moderately competitive, and key players have a prominent presence in the market. The market is expected to grow at a high rate during the projection period due to an increase in R&D initiatives for gene synthesis by several organizations. Additionally, rising demand for precision medicine, new product approvals, key technological advancements are likely to contribute to the market growth in the upcoming years.
- Integrated DNA Technologies, Inc.
- Eurofins Genomics
- GenScript
- ProMab Biotechnologies, Inc.
- Codex DNA
- Boster Biological Technology
- Beijing SBS Genetech Co. Ltd
- OriGene Technologies Inc.
- Genewiz Inc.
- ProteoGenix, Inc.
- Biomatik
- Other Key Players
Recent Development of the Gene Synthesis Market
- April 2022: DNA Script, a French life sciences technology company, officially announced that it had created an early access program through which several businesses can have early access to the company's most recent developments in their advanced enzymatic DNA synthesis technology.
- February 2022: A brand-new genetic replicon tool was launched successfully by Twist Bioscience Corporation and Eleven Therapeutics. This newly-introduced replicon tool is very beneficial in different key biotechnological processes such as the screening of different antiviral drugs, the study of viral genome replication, and also, the production of different vaccines, therapeutics, etc.
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