Home Systems biology The synthetic biology market is expected to experience a CAGR of 33…

The synthetic biology market is expected to experience a CAGR of 33…

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Synthetic biology

Synthetic biology is a growing multidisciplinary research field.

SEATTLE, WASHINGTON, USA, January 14, 2022 /EINPresswire.com/ — The ‘Synthetic Biology Market 2022′ analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook’ has been added to Coherent Market Insights.

Overview:

Synthetic biology is a growing multidisciplinary research field. The goal of synthetic biology is to develop new biological parts and devices, and to redesign existing systems. This type of research can help develop new materials and products to improve human health, the environment and society. This multidisciplinary field is constantly evolving and will continue to be a valuable source of information for scientists and engineers.

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Market dynamics:

Increase in research and development along with growing initiatives in synthetic biology are expected to fuel the growth of the global synthetic biology market over the forecast period. The governments of several countries provide support for synthetic biology research because it has many applications. Many projects and studies are carried out in different countries in synthetic biology to study the complexities of the genomes of organisms, which helps to create more effective treatments for patients. For example, in August 2021, the Israel Innovation Authority funded approximately NIS 18 million for the first synthetic biology R&D infrastructure company in Israel,

However, biosafety and biosafety issues are expected to hamper the growth of the global synthetic biology market during the forecast period.

Impact of COVID-19:

The global synthetic biology market has witnessed growth during the COVID-19 pandemic. The COVID-19 outbreak in China has prompted several countries to close their borders and suspend international travel. Market growth has increased during the pandemic, due to rising demand and declining production due to the pandemic, and labor shortage. The cost is higher than usual, which increases market revenue. Ongoing COVID-19 vaccine and drug research is expected to drive the market growth owing to the wide applications of synthetic biology in the development of coronavirus drugs and vaccines.

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Key points to remember:

The global synthetic biology market is expected to grow, showing a CAGR of 33.9% over the forecast period owing to the wide range of synthetic biology applications. For example, in July 2021, an MIT research team developed a first synthetic circuit featuring fast and reversible protein-protein interactions.

Among the regions, North America is expected to witness strong growth over the forecast period, owing to the growing number of well-established synthetic biology companies and research institutes.

The major players active in the global synthetic biology market are GenScript, Thermo Fischer Scientific, DNA2.0, Eurofins Scientific, Inc., Integrated DNA technologies, Scientific genomics Inc., Origene technologies, Pareto Biotechnologies Editas Medicine, Inc., Twist biosciences, Blue heron, TeselaGen, Syntrox Inc.

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The research objectives for this report are:

‣ SWOT analysis focuses on the major global manufacturers to define, assess and analyze market competition. ‣By type, application and region the market is defined, described and forecast.
‣To examine the main global and regional market potential and benefits, opportunities and challenges, restraints and risks.
‣Determine whether trends and factors are driving or restraining market growth.
‣By identifying high growth categories, stakeholders would be able to analyze the market potential.
‣Perform strategic study of growth trends and market contribution of each sub-market.
‣Expansions, agreements, new product launches and market acquisitions are all examples of competitive developments.
‣Create a strategic profile of key players and thoroughly analyze their growth plans.

Reasons to buy this report

• Current and future prospects of the synthetic biology market in both developed and emerging markets
• The segment that is expected to dominate the market as well as the segment that holds the highest CAGR during the forecast period.
• Regions/countries expected to experience the fastest growth rates during the forecast period
• The latest developments, market shares and strategies employed by major market players

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Coherent Market Insights is a global market intelligence and advisory organization that provides syndicated research reports, custom research reports and advisory services. We’re known for our actionable insights and genuine reports in a variety of fields, including aerospace and defense, agriculture, food and beverage, automotive, chemicals and materials, and virtually any field and an exhaustive list of subdomains under the sun. We create value for our clients through our highly reliable and accurate reports. We are also committed to playing a leadership role in providing insights in various post-COVID-19 sectors and to continuing to deliver measurable and sustainable results to our clients.

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