Synthetic Biology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Synthetic Biology Market: Overview
Synthetic biology market has evolved on the back of surging industry interest worldwide on the profound capabilities it is said to possess, mainly by virtue of redesigning biological components and systems. The spectrum of transformative effects of synthetic biology is expanding at a breakneck pace, but arguably the strides may be mixed with the hype. Most prominently, new approaches in the synthetic biology market have carved a new hope for production of small molecules.
The hope hinges on automating the construction of relatively complex gene networks. A number of the recent research directions undoubtedly raise the hope for finding treatments for range of existing as well as new diseases that have been afflicting humanity and animal world, notably insect-borne diseases. A case in point is the rising investment volumes in the synthetic biology market is biomedicine.
An example is genetically engineered viruses to manage Severe Combined Immune Deficiency (SCID) or epidermolysis bullosa. Another area that is seeing vast amount of research is the application of synthetic biology in producing novel gene delivery vectors, which might open a new transformative potential in the vaccine development.
Synthetic Biology Market: Key Trends
The growing potential of synthetic biology in production of theranostic cell lines is one of the key trends. Another emerging discipline that might open colossal revenue prospects is cybergenetics.
Apart from the profound prospect of synthetic biology in healthcare and lifesciences applications, an emerging area is protective clothing or building materials. The trend is inspired by the need for responsive and multifunctional materials. Computational techniques’ use to design completely novel proteins are expected to open new vistas in the synthetic biology market.
Synthetic Biology Market: Competitive Assessment
A growing number of research in novel applications of synthetic biology in biotechnology is shaping the growth trajectories in the synthetic biology market. One such example is synthetic biology platforms to forge complex biological molecules, examples being antibodies and insulin.
A Vancouver-based biotech company has ramped up its funding to boost such a platform. AbSci has additional $65 million to harness what it calls “Protein Printing” technology comprising a synthetic biology platform and a purification platform. The former is based on E. coli processes. The platform will pave way to the commercialization of next-generation biologics, asserts the company and its collaborators. This will enable its partners eye new revenue streams in drug development. As of now, the relatively small company has raised $100 million. More such research initiatives in the synthetic biology market will open new avenues in biopharmaceutical discovery.
Synthetic Biology Market: Regional Assessment
A number of sponsored funding to fuel multidisciplinary development of synthetic biology research is setting off new avenues in these regional markets. An assortment of targeted research programs and public policies have emerged in the U.S., U.K, and China. Recent spate of public and private R&D have strengthened the prospects of North America and Europe markets. A number of business start-ups are keen on harnessing transformative potential of synthetic biology. Growing investments in genome projects in the developed countries in these regions are also expected to augment the revenue potential of these in the global synthetic biology market. The regions have also been benefited by committed efforts in arriving at protocols that will ensure responsible research in synthetic biology.
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