Development of new gene therapy-based treatments for severe diseases, increased disposable income, increasing awareness of genetic treatments and governmental approvals are expected to help in growth of the global gene synthesis market.
High expenditure for gene synthesis, delay in the development of gene synthesis techniques, long lead times for treatment approval and intense rivalry are reasons that can inhibit the growth of global gene synthesis market.
The global gene synthesis market is estimated to expand at a CAGR of 19% through 2032.
The gene synthesis market size was estimated to be US$ 1.92 billion in 2021.
The market for gene synthesis is currently dominated by North America, and it is anticipated that this dominance will persist in the years to come. The United States has the greatest market share in the North American area as a result of the presence of major industry players.
Bio Basic Inc., Eurofins Genomics, Genscript Biotech Corp., Merck KGaA, and Genewiz Inc., are a few of the market's top competitors.
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