Synthetic Biology Market Size, Share, Growth & Industry Analysis, By Technology (NGS Technology, PCR Technology, Genome Editing Technology, Others), By Product (Oligonucleotides, Cloning Technologies Kits, Xeno-Nucleic Acids), By End User (Biotechnology & Pharmaceuticals, Academic & Government Research Institutes, Others), and Regional Analysis, 2024-2031

Synthetic Biology Market Size

The Global Synthetic Biology Market size was valued at USD 17.12 billion in 2023 and is projected to reach USD 78.74 billion by 2031, growing at a CAGR of 21.15% from 2024 to 2031. In the scope of work, the report includes solutions offered by companies such as Thermo Fisher Scientific Inc, Synbio Technologies, Merck KGaA, Agilent Technologies Inc., GenScript, Novozymes, Codexis, Inc., Bota Biosciences Inc., Illumina, Inc., Synthego and Others. The synthetic biology market is anticipated to experience significant growth in the forthcoming years due to factors such as rising incidence of cancer, a growing geriatric population and the prevalence of sedentary habits leading to chronic diseases. The various application of synthetic biology across various industres is expected to further fuelmarket growth.

The synthetic biology market is experiencing significant growth, driven by advancements in genetic engineering, DNA synthesis, and genome editing technologies. This burgeoning field combines principles of biology, engineering, and computer science to design and construct artificial biological systems with novel functions. Key factor supporting market growth include the expanding applications of synthetic biology across various industries such as healthcare, agriculture, chemicals, and energy. Rising investments in research and development, coupled with increasing government initiatives to support biotechnology innovation, further propel market expansion. Additionally, the emergence of synthetic biology startups and collaborations between industry players and academic institutions contribute to the expansion of the market. With continuous technological advancements and growing adoption of synthetic biology solutions, the market is projected to observe notable growth in the coming years.

Synthetic biology is an innovative field that merges principles from biology, engineering, and computer science to engineer biological systems with unique functions. It involves the design and construction of artificial biological components, pathways, and organisms to achieve specific goals that may not exist in nature. This field utilizes advanced genetic engineering techniques, genome editing tools, and computational modeling to manipulate and reprogram living organisms at the molecular level. Synthetic biology is utilized across diverse applications across industries, including healthcare, agriculture, chemicals, energy, and environmental sustainability. It aims to revolutionize various sectors by developing novel therapeutics, diagnostics, bio-based materials, and sustainable biofuels through innovative approaches in genetic engineering and biotechnology.

Analyst’s Review 

The expansion of the synthetic biology market is driven by various factors such as the rising efforts by key players to develop and enhance their products and services through strategic collaborations and the utilization of technological advancements. These companies are investing significantly in research and development (R&D) to enhance synthetic biology tools and applications, with a major focus on developing innovative genetic engineering techniques and optimizing metabolic pathways. Moreover, key players are commercializing synthetic biology products and services, targeting new markets such as healthcare, agriculture, and energy. Continuous technological innovation, including advancements in gene editing and DNA synthesis, is further expected to fuel market progress.

Synthetic Biology Market Growth Factors

The rising range of synthetic biology applications, particularly in multiplexed diagnostics & cellular recording, and therapeutic genome editing, is poised to support the growth of the market. These advancements offer remarkable capabilities in precision medicine, enabling simultaneous analysis of multiple biomarkers and cellular activities with high sensitivity and specificity. This enhanced diagnostic capacity holds potential for early detection, accurate disease profiling, and personalized treatment strategies.

Moreover, therapeutic genome editing using synthetic biology techniques presents novel opportunities for targeted interventions in genetic disorders and diseases. The ability to precisely modify genetic sequences offers potential cures for previously incurable conditions, leading to the increased demand for synthetic biology solutions in therapeutic development. As the demand for advanced diagnostics and innovative therapeutics continues to grow, fueled by the pressing need for more effective disease management and personalized healthcare, the market for synthetic biology is projected to experience significant expansion in the foreseeable future.

Moreover, the high cost associated with research, development, and commercialization processes present significant challenges to market growth. The complexity of synthetic biology techniques, coupled with the need for specialized equipment, skilled personnel, and extensive laboratory infrastructure, results in increased costs across the value chain. However, market players are increasingly focusing on reducing costs and enhancing the availability of scarce raw materials. A common strategy involves the fermentation of plant-based feedstock, similar to the methods employed by brewers and pharmaceutical manufacturers who utilize yeast to produce beer and insulin. This approach eliminates the need for specialized raw materials, and when implemented on a large scale, certain plant-based feedstocks become more cost-effective.

As synthetic biology companies gain expertise, they are expanding their capabilities to manufacture both simple and complex raw materials. For instance, they produce squalene, a chemical present in aquatic wildlife and utilized in pharmaceutical products. Additionally, they venture into manufacturing complex materials such as leather and vanillin, demonstrating the versatility and potential of synthetic biology in addressing diverse industrial needs. These factors are likely to contribute to market growth through the projection period.

Synthetic Biology Market Trends

The synthetic biology market is witnessing a significant trend towards advancements in gene and cell therapy. Techniques such as CAR-T cell therapy are revolutionizing cancer treatment by utilizing the body's immune system to target and destroy cancerous cells, thereby promising improved patient outcomes. Additionally, CRISPR-Cas9 technology is enabling precise genomic modifications, thus facilitating the potential for curin genetic disorders by correcting faulty genes at the molecular level. These ongoing developments in synthetic biology underscore its potential to address complex medical challenges, thereby stimulating substantial investment and research in the field. As the demand for innovative therapies continues to grow, the synthetic biology market is estimated to observe rapid expansion in the coming years.

The rapid surge in market demand is driven by advancements in designing artificial systems with predictive functions. The emergence of next-generation high-throughput synthetic biology technologies, which prioritize rapid design-build-test-learn cycles, is developing the field of research and development. These technologies enable rapid innovation and widen the scope of applications across various sectors, including health, chemicals, medicine, environment, and biofuels.

Synthetic biology continues to evolve with constant innovation, offeringa viable solutions for diverse challenges spanning across biotechnology, therapeutics, biomedicine, and others. Key advanced technologies in synthetic biology include genome design, microfluidics, cell-free systems, and genome editing. These technologies enable precise manipulation of genetic material, the efficient synthesis of biological components, and the high-throughput screening of engineered systems, which is creating a demand for novel biotechnological, therapeutic, biomedical, and industrial applications, thus enhancing market growth.

Segmentation Analysis

The global synthetic biology market is segmented based on  technology, product, end-user, and region.

By Technology

Based on technology, the market is segmented into NGS technology, PCR technology, genome, editing technology, bioprocessing technology and others. The PCR technology segment led the market in 2023, reaching a valuation of USD 5.05 billion. Polymerase chain reaction (PCR) has become an integral part of genomic research due to the widespread adoption of real-time PCR technology. This method offers specificity and sensitivity, making it highly favored across various fields that rely on PCR-based applications.

In molecular diagnostics, PCR enables the rapid and accurate detection of pathogens and genetic mutations critical for disease diagnosis and personalized treatment. Forensic scientists rely on PCR for DNA profiling from crime scene samples, while researchers use PCR extensively in DNA cloning, gene expression studies, and genomics applications such as sequencing and mutation analysis. The continued evolution of PCR technologies, including advancements in digital PCR and multiplex assays, is poised to further enhance genomic research capabilities, driving innovations in understanding genetic complexities and disease mechanisms for improved healthcare outcomes. 

By Product

Based on product, the market is segmented into oligonucleotides, enzymes, cloning, technologies kits, xeno-nucleic acids, and chassis organism. The oligonucleotides segment is expected to register a valuation of USD 22.21 billion by 2031, mainly attributed to its pivotal role in various molecular and synthetic biology applications. Oligonucleotides serve as fundamental components in targeted next-generation sequencing (NGS), mutagenesis experiments, DNA computing, and CRISPR-based gene editing. The rising adoption of targeted NGS workflows, which rely on custom-designed oligonucleotides for specific genomic region amplification and sequencing, has led to the expansion of the segment. Additionally, mutagenesis experiments that utilize synthetic oligonucleotides to introduce precise genetic alterations in DNA sequences have contributed to this expansion.

By End User

Based on end user, the market is classified into biotechnology & pharmaceuticals companies, academic & government research institutes and others. The biotechnology & pharmaceuticals segment is estimated to witness significant growth at a CAGR of 21.59% through the forecast period. The biotech and pharmaceutical sectors are major drivers of the synthetic biology market, utilizing innovative technologies and methodologies to progress drug discovery, development, and bio-manufacturing processes. Synthetic biology revolutionizes the biotech and pharmaceutical segments by employing biological system design and engineering for therapeutic purposes. such as novel drug synthesis, biologic production optimization, and personalized medicine.

Key applications include the development of engineered microbes tailored for the production of bio-based chemicals, pharmaceuticals, and biologics. Additionally, it involves the creation of synthetic gene circuits for targeted therapeutic interventions. The increasing adoption of synthetic biology tools, including gene synthesis, genome editing (e.g., CRISPR), and pathway optimization, is revolutionizing research and development within biotech and pharma sectors by accelerating the discovery and development of new therapies and bio-based products, thus bolstering segmental growth.

Synthetic Biology Market Regional Analysis

Based on region, the global synthetic biology market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

The North America Synthetic Biology Market share stood around 38.49% in 2023 in the global market, with a valuation of USD 6.59 billion. This notable growth is primarily propelled by various factors such as advanced technologies, rising investment in research and development, and a strong presence of key players. In the United States, in particular, synthetic biology is witnessing substantial growth due to significant investments in DNA sequencing, genome editing tools such as CRISPR-Cas9, and computational biology. This technological advancement is further anticipated to foster innovation in areas such as pharmaceuticals, biomanufacturing, and agriculture. Furthermore, the favorable regulatory framework in North America is contributing to the increased product demand and services(review), thereby stimulating North America synthetic biology market.

Asia-Pacific is projected to experience significant growth at a CAGR of 23.16% over the forecast period. The Asia Pacific region represents a dynamic and rapidly expanding market for synthetic biology due to technological progress, increasing investments, and a growing awareness of the transformative potential of biotechnology. Collaborative efforts between industry, government, and market players are promoting innovation in the field of synthetic biology. Government intiatives in India and advancements in genome mapping and bioinformatics are accelerating the potential of synthetic biology in diverse applications. The decreasing costs of genetic sequencing and increased access to advanced technologies are further supporting Asia-Pacific synthetic biology market growth.

Competitive Landscape

The global synthetic biology market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, could create new opportunities for market growth.

List of Key Companies in Synthetic Biology Market

• Thermo Fisher Scientific Inc
• Synbio Technologies
• Merck KGaA
• Agilent Technologies Inc.
• GenScript
• Novozymes
• Codexis, Inc.
• Bota Biosciences Inc.
• Illumina, Inc.
• Synthego

Key Industry Developments 

• July 2023 (Collaboration): Sumitomo Chemical Co., Ltd. , awell-known Japanese chemical manufacturer, and Ginkgo Bioworks, a leader in cell programming and synthetic biology, announced a joint venture aimed at utilizing synthetic biology to create useful chemicals. This initiative builds on their existing biomanufacturing collaboration by using Ginkgo's cutting-edge synthetic biology platform to develop innovative approaches to chemical production.
• May 23 (Parternship): Ginkgo Bioworks, a pioneer in cell programming and biosecurity, and Octarine Bio, a synthetic biology startup focused on sustainable bio-based components, launched a multi-phase collaboration targeting chemicals in the tryptophan pathway. The primary goal is to engineer a microbial strain with the ability to produce violacein and its derivative, which are natural pigments renowned for their bioactive qualities such as antioxidant, antibacterial, and UV protecting effects. Although violacein is the primary focus of the partnership, other tryptophan-derived chemicals may also be included, each with unique and beneficial applications across various industries. This partnership between Octarine Bio and Ginkgo Bioworks demonstrates the application of synthetic biology in developing novel bio-based products.

The Global Synthetic Biology Market is Segmented as:

By Technology

• NGS Technology
• PCR Technology
• Genome Editing Technology
• Bioprocessing Technology
• Others

By Product

• Oligonucleotides
• Enzymes
• Cloning Technologies Kits
• Xeno-Nucleic Acids
• Chassis Organism

By End User

• Biotechnology & Pharmaceuticals
• Academic & Government Research Institutes
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • U.K.
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America