The global gene synthesis market size was estimated to be US$ 1.92 billion in 2021 and is expected grow at a CAGR of 19% between 2023 to 2032.
Gene synthesis is the technique of utilizing DNA synthesis technology to create artificial genes in a laboratory environment. In contrast to the normal DNA replication carried out by cells or the Polymerase Chain Reaction (PCR), gene synthesis entails the sequential insertion of nucleotides to a single-stranded molecule instead of using an existing complementary sequence. Thus, the foundational technology on which the discipline of synthetic biology has been based in gene synthesis.
One of the many uses for recombinant DNA technology, where gene synthesis is becoming a crucial tool, is the production of therapeutic proteins. De novo gene synthesis, which also enables the generation of particular nucleic acids that do not require any template, is quickly replacing the conventional techniques of cloning and mutagenesis.
Progression of Gene Therapy Techniques:
Gene therapy is extensively used as an advanced treatment option for several diseases. The technique uses several genes that can target the bacterial or viral genes inside the body. The prevalence of genetic disorders and the availability of gene therapy-based treatments for such diseases will also enable faster growth of genetic approaches in the treatment of such disorders. Since gene therapy in such treatment is dependent on the special synthesis of novel genes, the growth of gene therapy will subsequently increase their demand. Thus, due to increased demand and adoption of such technologically advanced treatments, a rise in usage and market revenue of the global gene synthesis market is expected.
Factors affecting growth of Global Gene Synthesis Market:
Since bacterial and viral infections are becoming more common, there is a greater need for cutting-edge, potent treatments to combat these dangerous conditions. Management of infectious and endemic diseases has improved as a result of the application of genomic information. We can also use it to understand rapidly developing drug resistance and find potential targets for vaccinations and novel therapies. Given that this problem can be addressed using recombinant DNA technology, RNA ribozyme, and single-chain antibodies, gene therapy has drawn the attention of many researchers.
The need for efficient gene therapy and vaccines has increased along with the occurrence of such infectious diseases around the world. The global market for gene synthesis is expanding as a result of the increased demand for unique genes that have major medical applications such as in the production of vaccines and treatments.
The gene synthesis market is also driven by government policies that are favorable to synthetic biology. Investors have also moved their attention to next-generation biomedical research during the past few years due to the increase in demand for this technology. Approximately USD 8 billion in governmental and commercial funding was allocated to the synthetic biology sector in 2020.
The COVID-19 pandemic has also benefited the sector by presenting significant opportunities for expansion and innovative R&D. Scientific communities are also investigating new frontiers within the field and the development of new medical procedures is expected to help the growth of the market for gene synthesis.
There is a great need for life-saving medications and treatments since they help many people around the world live healthy lives and receive effective care. Therefore, gene therapies are now more necessary for a growing number of patients to have a proper cure. Gene synthesis is a technology that can create unique and synthetic genes, which are needed to produce gene therapies.
As a result, the market for gene synthesis is anticipated to be stimulated by the growing use of gene therapy. Therefore, the demand for synthetic biology solutions is rising globally as a result of its effective and novel goods, which is anticipated to function as a driving force for the gene synthesis market.
Worldwide healthcare spending has increased as disposable income rises in various nations. Additionally, government entities and healthcare organizations are taking the lead by increasing healthcare spending to meet the population's needs. The strategic actions made by major market participants will also ensure the stability and future growth prospects of the global gene synthesis market over the course of the projected period.
However, the high expenditure on the gene synthesis method is one of many obstacles to this market. This may delay the development of gene synthesis techniques in some emerging regions, which would restrain the market's expansion. Long lead times for treatment acceptance and intense rivalry in the medical technology sector can also pose difficulties for the expansion of the global gene synthesis market.
Scope for regional growth:
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. The main drivers of the enormous market include the incidence of genetic and chronic diseases like cancer, as well as the aging population, the rising demand for targeted and customized medication, and government programs that encourage gene synthesis. However, because of growing investment from governmental and corporate institutions, Asia Pacific is projected to develop into a lucrative market in the near future.
Key players and other factors:
The industry for gene synthesis is fiercely competitive, and some key businesses control a sizeable portion of their revenue. Few of the top players now control the market in terms of market share. Fewer smaller businesses are projected to enter the market because of the increasing pharmaceutical development procedures and rising disease instances. Bio Basic Inc., Eurofins Genomics, Genscript Biotech Corp., Merck KGaA, and Genewiz Inc., are a few of the market's top competitors.
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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