Synthetic Biology Market - Bound to Exhibit Comprehensive Growth in Coming Years
This report focuses on the Synthetic Biology Market in Asia Pacific market, especially in China, Japan, Korea, Taiwan, Southeast Asia, India and Australia.
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Synthetic biology involves conjunction of advances in the biology, computer science, chemistry, and engineering for faster & cheaper production, and operates in the precise manner. The synthetic biology reforms & constructs the biological components and systems that does not naturally exist in the world.
Various applications of synthetic biology and growing demand for synthetic genes & synthetic cells are the major drivers which are likely to propel the synthetic biology market. Increasing concerns regarding the fuel consumption and growing demand for protein therapeutics are likely to add new opportunities for this market in the coming years.
The synthetic biology market is estimated to grow at a CAGR of 28.2% during the forecast period from 2018 to 2025. The market for synthetic biology is estimated to reach US$ 56,044.9 Mn in 2025. The market for synthetic biology is witnessing a potential growth rate during the previous years and is expected to witness similar trend in the coming years. Global synthetic biology market is driven by extensive use of enzymes kits and other gene synthesis products in research institutes and academics. Additionally, rising demand for enzyme based kits and solutions required for gene manipulation and rising awareness about genetic engineering among the healthcare professionals in developed nations also accelerate the market growth. However, competition among existing market players may restrain the growth of the market.
In North America, the market is driven by an increasing investment by government organizations and institutes such as Department of Energy, the National Science Foundation (NSF), Department Of Defense (DoD), the National Institutes of Health (NIH), and the US Department of Agriculture (USDA). While, Asia Pacific is the fastest growing market driven increasing investment by private sector companies such as Evolva Biotech Pvt. Ltd and increasing demand for synthetic biology technologies of industrial and medical applications.
The major players operating in the market of synthetic biology market include ThermoFisher Scientific Inc., Merck KGaA, Novozymes, Agilent Technologies, Amyris, GenScript, Integrated DNA Technologies, Inc., Twist Bioscience, New England Biolabs, Synthetic Genomics Inc. and others.
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The Insight Partners
Sameer Joshi
Tel: +1-646-491-9876
Email us
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The Insight Partners
Sameer Joshi
Tel: +1-646-491-9876
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results