|Synthetic Biology Market Value to Garner US$ 14 bn by 2026|
|By GLOBE NEWSWIRE|
|Tuesday, 11 June 2019 07:00|
LOS ANGELES, June 11, 2019 (GLOBE NEWSWIRE)
LOS ANGELES, June 11, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Synthetic Biology Market (By Product: Enabled Products, Enabling Products, Core Products; By Technology: Nucleotide Synthesis & Sequencing, Genetic Engineering, Bioinformatics, Microfluidics; By Application: Pharmaceuticals & Diagnostic, R&D, Agriculture, Chemicals, Energy) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026.”
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Synthetic biology is one of the world's most rapidly increasing and promising techniques. It applies to a variety of applications in the fields of medicine, agriculture. A powerful company perspective for players in the sector of synthetic biology is likely to be provided by increased financing from government and private institutions. DNA synthesis speed and effectiveness combined with increased genomic information are the main drivers for the use of sophisticated techniques in business product manufacturing, including protein and renewable chemicals. New products are anticipated to be introduced on the market by biofuels, renewable and specialty chemicals manufacturers, by bioproducts, by pharmaceuticals, by health products and by food ingredients.
Companies internationally began to invest in synthetic biology as many government agencies turn to biomass and climate change. In recent years, the industrial interest in synthetic biology has grown and fresh gene editing methods have been a driving force on this market. Genetically engineered goods, DNA sequencing and DNA synthesis techniques replace traditional medications. While this market has a potential, there are risk and obstacles such as public legislation and policies, biological safety and biosecurity concerns, bio-war but legislative bodies and study organizations are addressing these problems. The Synthetic Biology industry has shifted the entire strategy to traditional ways in which sophisticated computing and design systems address new illnesses and genetic difficulties.
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Widening Application Base to Boost Market’s Growth
Thanks to the important rise in its popularity, synthetic biology technology and goods have been used significantly in several fields of implementation. "Based on their use in multiple industrial apps and because the price of studies is reduced, organisms designed for synthetic biology technique are fairly sensible, the demands for this technique are rising significantly in the globe," the analyst for ARC claims. This market will probably be promoted by the increased participation of government agencies, research institutes and large-scale companies in synthetic biology studies in the coming years, the research study notes.
In the previous few years, Europe has been the world market leader in synthetic biology. This regional market is expected to continue to grow in future years, due to an increase in public involvement and increased financing for the growth of synthetic biology. The increased use of synthetic biology in health, power and the environment is also expected to increase Europe's synthetic biology industry in coming years, the study says. Defence has played a significant role in investing over the previous years in North America. Progress in future trends in Asia, India and China is expected to be part of the market in synthetic biology. The success of this industry depends on the transition from fundamental to apps in which natural biologic systems can be understood in the future. The synthetic biology industry therefore shows no signs of slowness but it leads to innovation to manage future social, ethical and legal liabilities.
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Key Players & Strategies
Due to the existence of big, regional and multinational players on the market the synthetic biology industry is of competitive nature. Amyris, Integrated DNA technologies, DNA2.0, DSM, Evolva, Twist-biotechnologies, Editas Medicine, Inc., GenScript, Novozyme, Pareto Biosyntrox Inc., Blue heron, and Thermo Fischer Scientific were all key industry participants. The firms are adopting approaches such as R&D collaborations, fresh product launches and company expansion joint ventures. Novozymes announced in September 2018 the launch of Balancius, a fresh feed additive that increases the gut's health for broiler chickens. This allows farmers to generate 3% more food from the same feed quantity and move towards more viable manufacturing. This business approach increases the base of customers and reduces the effect on the food production environment.
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