Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||134341|
|Published||Content info||435 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 435 Pages||
As a Wiser World Looks to Make a Strong Sustainable Recovery From COVID-19, Synthetic Biology to Receive New Opportunities for Growth. Market to Reach $33.2 Billion.
The global market for Synthetic Biology is projected to reach US$33.2 billion by the year 2027, trailing a post COVID-19 CAGR of 25.2%, over the analysis period 2020 through 2027. With humans continuing their mindless plunder of the planet, natural habitat destruction and climate change has already set the stage for an era of pandemics. Animal-borne infectious diseases will continue to rise in the coming years, as human become the new host for displaced animal viruses. The current scenario has amplified the urgency to address environmental issues & ensure strict compliance among polluting businesses. Synthetic biology unfolds a new scientific era, in which synthetic organisms can be created to serve different purposes. The new biological research area is a nascent science and engineering discipline that seeks to integrate science with engineering for designing and building novel biological entities, including cells, genetic circuits and enzymes, or for redesigning active biological systems and living organisms, such as bacteria inexpensively and rapidly. Synthetic biology has already come out of the lab, buoyed by significant investments both from private and public organizations in organisms synthesized to produce chemicals, materials, medicines and biofuels. Synthetic biology derives its existence from advances in the fields of molecular biology, nanotechnology, engineering, chemistry, physics and computer science.
Synthetic biology enables the development of standardized and interchangeable DNA strands, which do not exist in the natural world. Synthetic biology techniques create base pair sequences from component parts, and assemble them from the beginning. This field of engineering organisms at the molecular level offers enormous potential and scope. In recent years the field of synthetic biology witnessed rapid development due to the development of CRISPR-Cas9, a gene editing tool, which was first introduced in the year 2013. This tool enables in locating, cutting, and replacing DNA at certain specific locations. Synthetic biology is expected to create huge generic capabilities to be used in bio-inspired processes and tools applicable in the industry along with the whole economy. The approach holds a tremendous potential to assist researchers in designing, creating and testing systems, parts and even entire set of genomes. While genetic sequencing is associated with reading DNA, and genetic engineering is related to copy, cut and paste these DNAs, synthetic biology involves writing as well as programming DNAs to build genomes from the scratch and understand how life works. Synthetic biology can be applied to a large number of industrial segments, and holds potential to develop spectacular systems and processes such as nitrogen fixation and create edible wonder protein with various essential amino acids. In near future, majority of research activities in this field are expected to focus on energy products, chemicals, pharmaceuticals and diagnostic tools. In addition, the concept is anticipated to play a major role in addressing concerns associated with energy, water and cultivable land to reduce carbon footprint and drastically change the way people farm and eat.
With the U.S. leading the way, sustainable products are poised to emerge into a big global opportunity. From sustainable chemistry to renewable energy & biofuels, synthetic biology holds the potential to eliminate market barriers to developing sustainable, environment friendly products, materials & services. Interestingly, the global COVID-19 pandemic has opened opportunities for new approaches and accelerated several innovative trends that were already underway. During the early stages of the global COVID-19 outbreak, 3D printing or additive manufacturing was found to play an important role in urgently producing much needed personal protective equipment and ventilator equipment locally for bridging the shortage caused by disruptions in global supply chains. The world is also now looking for ways of developing vaccines and treatments for coronavirus, which is where synthetic biology can contribute at a much faster pace as compared to conventional approaches. Synthetic biology's toolset seems poised to create vaccines as well as treatments that are not only more potent and stable, but also are quicker and easier to manufacture. These benefits are extremely critical in addressing the existing health crisis as well as enabling health systems and governments to quickly respond to any unanticipated and new future threats. While synthetic biology has been for long bringing profound changes to the process of producing chemicals, materials, and food, as well as helping addressing other major global challenges, such as food security, chronic disease, and climate change, it is the COVID-19 pandemic that could eventually provide a breakout moment for synthetic biology.
Select Competitors (Total 134 Featured) -