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Synthetic Biology: A Global Market Report

Global synthetic biology market forecast to total revenues of US$13Bn by 2018


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2014-03-21 17:29:01 - Synthetic Biology: A Global Market Report - a new market research report on companiesandmarkets.com

Advancements in high-speed DNA synthesis are forecast to drive growth in the global synthetic biology market. The global market for synthetic biology is projected to reach US$12.9 billion by 2018, driven by advances in high-speed DNA synthesis and DNA sequencing.Major players operating in the synthetic biology market include Agilent Technologies Inc., Amyris Biotechnologies Inc., BP PLC, Chromatin Inc., DuPont, Gevo Inc., 454 Life Sciences, Epoch Life Science Inc., Evolva SA, Solazyme Inc., Synthetic Genomics Inc., Synthetic Biologics Inc., DNA2.0, Intrexon Corp, and Life Technologies, among others.Synthetic biology as an extension of biotechnology and genetic engineering, is expected to present a new world of opportunities right from designing new biological systems to entirely transforming the way food crops or medicines are

 

 

developed. Unlike genetic engineering, in synthetic biology, scientists entirely reengineer biological systems by writing a new genetic code on a computer, which is later impregnated into organisms for creating an artificial life form. Though synthetic biology is still in its infancy, the potential for future impact remains significant. The revolutionary idea brings together multiple disciplines such as computer modeling, engineering and biological sciences for creating next-generation biological systems, parts and devices as well as for redesigning existing biological systems for useful applications. Molecular biologists, computer scientists, engineers and chemists are working in collaboration to develop building blocks for creating a new synthetic world, while researchers are exploring the process of gene manipulation as well as reconfiguration of metabolic pathways of cells to perform new functions. Ever since its inception, synthetic biology has played a pioneering role in transforming applications across diverse end-use segments including agriculture, pharmaceuticals, energy and healthcare. Several of the leading chemical, energy, pharmaceutical, food, forestry and agribusiness companies are investing in synthetic biology research and are increasingly relying on artificial DNA fragments to invent new products.Europe represents the largest market worldwide, supported by high R&D interest in developing synthetic biology based products. Within Europe, Germany, the UK and Scotland remain prominent markets. Japan, India and China are expected to drive future growth in the market.Synthetic biology has potential applications in a number of areas, including health, environment, energy, food and agriculture and new materials development. Energy & Chemicals represent the largest as well as the fastest growing end-use sector. Within the pharmaceuticals sector, the technology has pioneered the development of an affordable and highly-effective malaria drug, which offers therapeutic benefits similar to Artemisia, a Chinese herb. The new drug is produced inside the cellular membranes of a synthetic yeast strain. In the agriculture sector, the technology finds utility in the production of genetically-engineered crops. Currently, genetically-engineered crops contribute about 94% of cotton, 93% of soy, and 88% of corn of the overall acreage in the United States. The technology is being used to develop high-performance biofuels. Other areas with commercial potential include the use of synthetic biology for creating crop-enhancing fertilizers and new food additives, such as artificial sweeteners. The technology can also be used to modify the genetic code of naturally-found bacteria in the soil so that it releases growth hormones in soil for the plant to absorb the hormone and develop stronger roots. Synthetic biology can also be used to create gene network for endangered species, facilitate artificial photosynthesis, and perform biological computing.

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