PUBLISHER: Grand View Research | PRODUCT CODE: 1300992
PUBLISHER: Grand View Research | PRODUCT CODE: 1300992
The global DNA synthesizer market size is expected to reach USD 664.2 million by 2030, expanding at 14.42% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing interest for synthetic DNA in a wide range of applications including drug discovery and development, gene therapy, and genetic research is the key factor driving the demand for synthesizers. In addition, advancements in synthesis technology and automation are anticipated to further fuel the growth of the market. Moreover, various organic and inorganic developments done by market players in terms of development of efficient synthesizers is another factor supporting industry expansion. For instance, K&A Labs GmbH developed H series DNA synthesizers capable of giving maximum yield.
The evolving demand of synthetic nucleic acid across industries is pushing market players to invest in synthesizers. For instance, in April 2022 Ansa Biotechnologies raised USD 68 million to launch a customizable DNA synthesis service. Moreover, these funding has helped the company to strengthen its gene synthesis capabilities. Similarly, in June 2022 DNA Script raised USD 88.32 million to bring rapid synthesis platform to the lab. This funding supported the commercial launch of the company's benchtop DNA synthesizers.
The industry is highly competitive, with market players emphasizing on developing new and innovative synthesizers that can give faster and more efficient nucleic acid synthesis capabilities. For instance, in September 2022, Codex DNA, Inc. announced the commercial release and first shipment of BioXp 9600 system, a new high throughput platform developed to revolutionize synthetic biology workflows. In addition, collaborations and partnerships between companies are becoming increasingly common, as companies seek to leverage each other's capabilities and strengths to foster growth and innovation in the market.
Furthermore, exponential rise in demand for DNA synthesizers and other synthesis platforms in pharmaceutical and biotechnological companies have driven the market to a significant extent. Also, rising R&D activities, supportive government legislation, and an increase in the demand for novel therapeutic regimens for rare diseases are supporting industry's growth.