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DUBLIN--(BUSINESS WIRE)--Nov 14, 2022--
The "Synthetic Biology Market Size, Share & Trends Analysis Report by Product (Enzymes, Cloning Technologies Kits), by Technology (PCR, NGS), by Application (Non-healthcare, Healthcare), by End-use, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global synthetic biology market size is expected to reach USD 55,371.1 million by 2030, registering a CAGR of 19.7% during the forecast period, according to this report. The presence of government and private funding to support research in vaccines and a strong synthetic biologic-based product pipeline in clinical trials are the key driving factors for the market. Synthetic biology processes provide crucial advantages for producing antigen and diagnostic reagents for disease identification, accelerating the speed of vaccine development, and improving overall vaccine performance and yield.
Furthermore, support from government agencies and the presence of several programs are likely to boost the market growth. For instance, in the U.S., COVID-19 vaccine R&D, manufacture, regulation, and purchase have been highly supported by collaboration between federal agencies, including the Biomedical Advanced Research and Development Authority (BARDA), the National Institutes of Health (NIH), DOD, FDA, and others (formerly OWS).
Other factors such as expanding demand in industries such as textiles and nutrition are also contributing to the market growth. Several optimal food production processes have been identified with the help of synthetic biology. In addition, synthetic biology is predicted to aid in the generation of higher agricultural yields and pest control development. It is expected to help in the production of better food yield and pest control management.
The growing demand for personalized medicine is expected to majorly drive market growth during the coming years. The use of engineered novel proteins for use as therapeutics has demonstrated synthetic biology in the medical segment. These proteins are designed with some modified protein structure to get the desirable properties required for the treatment. For instance, researchers are developing a therapeutic enzyme candidate that is GI-stable and can be given via oral route to treat Phenylketonuria (PKU).
On the other hand, synthetic biology has raised a few concerns regarding biosecurity and biosafety. Exposure to these products may cause unknown hazards to public health and the environment. To prevent such issues, countries of Europe, the Americas, and Asia have formulated policies to manage the application of synthetic biology techniques in basic & applied research.
Synthetic Biology Market Report Highlights
Market Dynamics
Market Drivers
Market Restraint Analysis
Market Opportunities
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
Chapter 4 Products Business Analysis
Chapter 5 Technology Business Analysis
Chapter 6 Application Business Analysis
Chapter 7 End-Use Business Analysis
Chapter 8 Regional Business Analysis
Chapter 9 Company Profile
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/31d0b3
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KEYWORD:
INDUSTRY KEYWORD: RESEARCH PHARMACEUTICAL AGRICULTURE INFECTIOUS DISEASES NATURAL RESOURCES TEXTILES CLINICAL TRIALS SCIENCE BIOTECHNOLOGY MANUFACTURING OTHER SCIENCE HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/14/2022 11:27 AM/DISC: 11/14/2022 11:27 AM
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