Synthetic Biology Market size is expected to reach USD 288 Billion by the end of 2035, growing at a CAGR of 29.50% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of synthetic biology was over USD 13 Billion. The market growth is mainly owing to the increasing demand for sustainable and renewable energy sources, rising investments in research and development activities, and advancements in synthetic biology technologies. Startups in the synthetic biology industry was noted to raise nearly USD 7.8 billion in investment in the year 2020 and USD 19 billion in the year 2021. Companies like Arbor Biotechnologies and DNA Script have each raised about USD 215 million and USD 168 million. The heavy investment is expected to increase the circulation of funds in the market and support the growth of the market throughout the supply chain.
In addition to this, rising demand for energy efficient systems coupled with increasing demand for sustainable and renewable energy sources is expected to fuel market growth in the near future. It was noted that global energy demand increased by 2.3% in the year 2019, with buildings and industry accounting for 80% of the increase. Energy efficiency improvements accounted for 40% of the reduction in global energy demand in the year 2019. Synthetic biology can be used to create biofuels and other renewable energy sources. This has been assessed as a key factor that is estimated to create lucrative opportunities for the synthetic biology market over the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
29.50% |
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Base Year Market Size (2023) |
USD 13 Billion |
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Forecast Year Market Size (2035) |
USD 288 Billion |
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Regional Scope |
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Application (Non-healthcare, Healthcare)
The global synthetic biology market is segmented and analyzed for demand and supply by application into non-healthcare, and healthcare. Out of the two types of applications, the healthcare segment is estimated to gain the largest market share of about ~60% in the year 2035. The growth of the segment can be accredited to the presence of large number of patients requiring treatment in the healthcare industry. The hospitals in the industry are also growing rapidly in number, which is estimated to positively influence the segmental growth. For instance, by the year 2022 there was noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice. They have the knowledge to solve common problems and the resources to solve more complex medical problems. Hospitals may also offer specialized care, such as neurology, obstetrics and gynecology, and oncology. By definition of a hospital, a county hospital is typically a primary medical facility in a region with numerous intensive care and mobile beds for patients requiring long-term care. These factors are predicted to boost the growth of the market in the forecast period.
End-user (Genome Engineering, Bioinformatics)
The global synthetic biology market is also segmented and analyzed for demand and supply by end user into genome engineering, and bioinformatics. Amongst these two segments, the genome engineering segment is expected to garner a significant share of around ~45% in the year 2035. The growth of the segment can be accredited to the advancements in genome editing technologies. The development of genome editing technologies such as CRISPR-Cas9, TALENs, and zinc-finger nucleases has revolutionized the field of genome engineering. These technologies enable precise and efficient editing of DNA, which has led to the development of new applications in areas such as agriculture, healthcare, and biotechnology. Genome engineering can be used to develop personalized medicines by modifying genes and cells. With the increasing focus on precision medicine, the demand for genome engineering is expected to grow in the coming years. Genome engineering can be used to develop crops with improved traits such as disease resistance, drought tolerance, and higher yields. The growing demand for sustainable agriculture and the need to feed a growing population is expected to drive the growth of genome engineering in the agriculture sector. Genome engineering can be used to correct genetic mutations that cause genetic disorders. With the increasing prevalence of genetic disorders, the demand for genome engineering is expected to grow in the healthcare sector.
Our in-depth analysis of the global market includes the following segments:
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By Technology |
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By Application |
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North American Market Forecast
The share of synthetic biology market in the North America region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can be majorly attributed to the growing population and research activity, health insurance covering various synthetic biology treatments and other related genome editing. Rising economic status and affordability of advanced treatments for patients are estimated to boost the growth of the market in the region during the forecast period. According to the U.S. Bureau of Economic Analysis, personal income in the U.S. in August 2022 grew at a rate of 0.3% to reach USD 71.6 billion, while personal spending was observed to grow at a rate of 0.4% to reach USD 6.75 billion. Moreover, the insurance companies in North America offer efficient reimbursement policies to the patients going through genome editing treatment, which encourages the patients to opt for advanced treatment methods such as genome engineering for genetic disorders. Hence, this is also estimated to add to the regional synthetic biology market growth significantly.
APAC Market Statistics
The synthetic biology market in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the constantly growing aged population throughout the region. The elderly people are more prone to genetic diseases that require genome editing for their treatment. Asia Pacific's population is aging faster than any other region in the world. Among the total aged population of the world, Asia Pacific accounts for 60 per cent, or 630 million, that are 60 years of age or older. The geriatric population in the region is projected to reach 1.3 billion by the year 2050. Additionally, the government's role in raising awareness regarding the use of the synthetic biology is expected to boost the market growth in the region. Moreover, increasing number of patients and deaths, increased funding for medical infrastructure is expected to affect the growth of the synthetic biology market in the region.
Europe Market Forecast
Further, the synthetic biology market in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the favorable government initiatives in the region. Governments in Europe have been supportive of synthetic biology research and development activities, providing funding and other incentives to promote innovation in the field. Synthetic biology has applications in healthcare, such as the development of personalized medicine and the engineering of microbes to produce therapeutic molecules. The increasing demand for personalized medicine and the rising prevalence of chronic diseases are expected to drive the growth of synthetic biology in the healthcare sector in Europe. The development of genome editing technologies such as CRISPR-Cas9 has enabled precise and efficient editing of DNA, which has led to the development of new applications in areas such as agriculture, healthcare, and biotechnology. The increasing adoption of genome editing technologies in Europe is expected to drive the growth of synthetic biology in the region. Synthetic biology can be used to create biofuels and other renewable energy sources. With the increasing focus on sustainability and the transition to a low-carbon economy, the demand for synthetic biology market in the energy sector is expected to grow in Europe.
Thermo Fisher Scientific announced its acquisition of Mesa Biotech, a developer of point-of-care molecular diagnostic tests for infectious diseases, including COVID-19.
Merck KGaA announced a strategic collaboration with Artios Pharma, a company focused on DNA damage response therapies, to develop precision oncology treatment
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Author Credits: Radhika Gupta, Shivam Bhutani
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