The ability to synthesize genes, the building blocks of life, is unlocking a new era of medical advancements. The global Gene Synthesis Market is projected for a remarkable surge, with a projected Compound Annual Growth Rate (CAGR) of 19.2% over the next decade. This translates to a market value reaching a staggering USD 4.5 billion by 2033, compared to USD 779.4 million in 2023.
In the past 30 years, it has been possible to synthesize entire genes, metabolic pathways, and even entire genomes. As oligonucleotides are assembled into plasmids for transfection, double-stranded DNA is produced utilizing several assembly techniques in genetic engineering. Healthcare professionals may now predict pathogen behavior before it becomes a severe problem thanks to evolution.
Currently, a variety of techniques based on DNA complexity and length are applied. A system that automatically processes several samples is also being developed by the researchers. Manufacturers place a lot of attention on intellectual property rights to preserve brand value.
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Comparison between the Historical CAGR (2017 to 2022) with the Projected CAGR
The rapid development of biotechnology, and in particular the processing of gene data, has created new research opportunities. The use of gene synthesis is anticipated to increase as a result of scientists’ intensive study of DNA sequences to understand the evolution of humans.
The present research projects that focus on extending human life span also employ this technique. The market has seen strong growth with such significant growth. However, because of the lockdown and supply chain disruption, the market may experience a slight decline. The market’s historical CAGR was 19.9%, whereas the projected CAGR was 19.2%.
Key Growth Drivers
- Strong activity taking place in the emerging field of synthetic biology plays a major role in the growth of the market.
- Widespread use of gene synthesis services for multiple drug development applications to add to the global footprint of players.
- The 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.
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 – Gene Synthesis Market
The competition landscape of the gene synthesis market 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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Gene Synthesis Market Segmentation
By Service:
- Gene Synthesis Service (Standard Gene Service, Express Gene Service, Complex Gene Service, Custom Gene Synthesis Service)
- Gene Fragments Service
- GMP Gene Synthesis
- Others
By Application:
- Diagnostics
- Therapeutics
- Research and Development Activities
- Others
By End User:
- Academic and Research Institutes
- Biotechnology Companies
- Pharmaceutical Companies
- Contract Research Organization
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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