In a groundbreaking revelation, the latest report from Future Market Insights (FMI) predicts a remarkable trajectory for the Global Gene Synthesis Industry. According to FMI, the industry is set to reach an impressive valuation of US$ 779.4 million in 2023, with an astounding compound annual growth rate (CAGR) of 19.2% projected during the forecast period.
The DNA synthesis technique, a cornerstone of the current biotechnology system, is playing a pivotal role in the advancement of synthetic biology. FMI emphasizes its significance, particularly in aiding healthcare professionals to comprehend the intricate structures of pathogens and various microorganisms. This insight is catalyzing a growing demand for gene synthesis, poised to shape the industry’s future.
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A wide variety of methods are specifically employed for DNA complexity and length. These activities are specifically aimed at understanding the DNA/RNA structure. There are a lot of scientists who are working to understand their sequencing. Such methods would assist in developing medications that ensure physical wellness, which would brighten the prospects for gene synthesis.
Governments and private bodies worldwide are making massive investments in genome sequencing. In April 2021, the United States government announced an investment of US$ 1.7 billion in genome sequencing. Likewise, the United Kingdom government announced an investment of US$ 175 million in genomics research in December 2022.
The surging geriatric population across the globe has led to an increase in the adoption of gene synthesis. These help in the diagnosis and treatment of diseases. The synthesis of genes with cloning has led to reduced cost and reduction of time as well, which becomes crucial while treating elderly patients. Gene synthesis is also used for various applications, including gene therapy, molecular engineering, etc.
As per FMI market researchers, “Increased application of DNA synthesis technology, application of a wide variety of methods which help in understanding DNA complexity and length, colossal investments from government and private bodies, and various other factors are expected to surge the Global Gene Synthesis Industry share.”
Key Takeaways from the Global Gene Synthesis Industry:
- The market is expected to record a CAGR of 19.2% during the forecast period.
- In 2023, the valuation is expected to be US$ 779.4 million.
- By 2033, the estimation is anticipated to cross US$ 4.5 billion.
- Based on the regional analysis, Asia Pacific is expected to be the leading market.
- The United States market is expected to surge at 15.7%.
- The United Kingdom market is projected to grow at 21.4% due to the increasing adoption of molecular engineering.
- China’s market is anticipated to advance at 29.2% due to increasing development in Genomics.
- Japan’s market is projected to register a CAGR of 24.1%.
- South Korea’s gene synthesis market is expected to record a growth rate of 21.6%.
- Based on service type, the gene synthesis service segment is expected to hold the dominant market share and might surge to 16.5%.
- Based on application, research and development is projected to be the leading segment and is expected to grow at 18.4%.
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Competitive Landscape in the Global Gene Synthesis Industry
The manufacturers operating in the Global Gene Synthesis Industry are expected to make high investments in mergers and acquisitions. This is a key step towards expanding the market share. In addition, the key players are also forming strategic partnerships with players from other niches to access technologies that might benefit them. Furthermore, with concerns around carbon emissions, the manufacturers are also taking initiatives to cut carbon emissions.
Key developments in the Global Gene Synthesis Industry:
- In September 2022, GenScript announced its collaboration with Gladstone-UCSF Institute of Genomic Immunology for a Groundbreaking non-viral cell therapy study.
- In January 2023, Twist Bioscience and CENTOGENE launched three panels to advance rare disease and hereditary cancer research and support diagnostics.
Global Gene Synthesis Industry 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
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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 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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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