by Gene synthesis involves the chemical or enzymatic assembly of relatively short or long DNA molecules from chemically or enzymatically synthesized short DNA building blocks called oligonucleotides. These genes can then be rapidly assembled into functional genetic constructs and systems for engineering new functions or properties in cells and organisms. Gene synthesis has wide applications across various industries including biotechnology, pharmaceuticals, chemical, and agricultural industries.
The global Gene Synthesis Market Share is estimated to be valued at US$ 2.49 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing research activities in medical sciences and biotechnology is a major driver for gene synthesis market growth. Synthesized genes are extensively used for developing new therapies and treatments for various life-threatening diseases like cancer. Advancements in gene editing technologies like CRISPR have further boosted demand for custom gene sequences. Additionally, rising focus on developing genetically modified crops with desirable traits like herbicide tolerance and yield enhancement is also fueling market growth. However, higher costs associated with gene synthesis compared to traditional cloning techniques and safety concerns regarding genetically modified organisms may limit market expansion to some extent over the forecast period.
Segment Analysis
The gene synthesis market is dominated by the commercial segment, which holds around 70% share of the overall market. This is because commercial gene synthesis or contract gene synthesis is outsourced to dedicated companies offering gene synthesis as a service. The synthesized genes are used in various fields including pharmaceuticals, diagnostics, biotechnology R&D and therapeutics development.
PEST Analysis
Political: The gene synthesis market is regulated by biosafety laws and regulations imposed by bodies like National Institutes of Health to prevent misuse. Favorable government funding to support life science research boosts demand.
Economic: The rising investment in healthcare and biotechnology along with outsourcing of gene synthesis services to specialty companies drives market growth. However, high capital requirement for setup limits entry of small players.
Social: Increasing awareness about personalized medicine and growing adoption of gene therapies & genetic testing have increased demand for synthetic genes from both commercial and academic institutes.
Technological: Advancements in gene Assembly techniques like Gibson Assembly and improved efficiency of gene synthesis platforms help expedite the drug discovery process. Automation and digital tools improve scalability and affordability.
Key Takeaways
The global Gene Synthesis Market Demand is expected to witness high growth, exhibiting a CAGR of 18% over the forecast period, due to increasing R&D investments in synthetic biology and biotechnology. The market size for 2023 is projected to reach US$ 2.49 Billion.
Regional analysis: North America dominates due to strong biotechnology industry and presence of leading gene synthesis companies. Asia Pacific is the fastest growing region with increasing government funding for genomics and synthetic biology research in countries like China and India.
Key players: Key players operating in the gene synthesis market are Twist Bioscience Corporation, GenScript Biotech Corporation, Eurofins Scientific SE, and Thermo Fisher Scientific Inc. Twist Bioscience lead the oligo synthesis market with capabilities to synthesize high volumes genome-scale DNA. GenScript dominates the gene/gene fragment market with automation capabilities to synthesize large and complex genes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
