The Global Gene Synthesis Industry is on a trajectory of unprecedented growth, with a sturdy growth rate of 19.2% expected during the forecast period. In 2023, the market valuation is projected to soar to US$ 779.4 million, marking a substantial milestone. By 2033, the market’s estimation is set to cross an impressive US$ 4.5 billion, reflecting a remarkable leap in the industry’s progress.
The Global Gene Synthesis Industry has witnessed a paradigm shift in recent years, with advancements in genetic research, personalized medicine, and synthetic biology. This growth is fueled by the increasing demand for custom-designed synthetic genes, driving innovation in fields such as pharmaceuticals, biotechnology, agriculture, and more.
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Key Research Findings
- On the basis of services, gene services will account for more than 45% of the overall revenue share through the forecast period.
- Standard gene synthesis will remain a preferred variant through the forecast period among consumers driven by low service costs.
- Research and development activities at academic and research institutes, will lead the market in terms of end user applications, accounting for more than 50% of market share.
- Gains of the Global Gene Synthesis Industry will remain largely concentrated in North America.
- The East Asia Market will display lucrative opportunities, driven by healthcare programs through the forecast period.
Key Growth Drivers
- Strong activity taking place in the emerging field of synthetic biology plays a major role in the growth of market.
- Widespread use of gene synthesis services for multiple drug development applications to add to the global footprint of players.
- Extensive use of molecular applications for higher service quality and customer loyalty is a major factor contributing to market growth.
- The development of genomic based studies for noble therapeutic applications will drive adoption.
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Key Impediments
- The gene synthesis market is facing increasing challenges owing to price reductions, and tech restraints associated with the highly competitive market landscape.
Competition Structure Analysis – Global Gene Synthesis Industry
The competition landscape of Global Gene Synthesis Industry remains Highly consolidated. Key players are also investing in strengthening service infrastructure, to keep up with the needs of commercialization. Players are also focusing their efforts towards emerging economies including India, Mexico, and Brazil.
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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