The new report released by QY Research in its repository with a title, “Global Gene Synthesis Industry Research Report, Growth Trends and Competitive Analysis 2018-2025,” focuses on representing the business of the gene synthesis market by offering quantitative and qualitative data in terms of US$ Mn. As per the findings, the global gene synthesis market was valued at US$ 200 Mn in the year 2018 and is likely to reach at US$ 640 Mn by 2025 end. The market is likely to register a robust CAGR of 15.6% during the predicted period of 2018-2025.
The growing number of startups and rising funds and investments in gene synthesis business are some of the factors that are expected to propel the growth of the market in the years to come.
Global Gene Synthesis Market: Drivers and Restraints
R&D associated with the gene synthesis as well as the continuous up-gradation in the technological processes such as molecular separation and protein purification technology helps in driving the growth of the global gene synthesis market in the near future. Some of the factors such as increasing prevalence of chronic diseases, rising elderly population, growing demand for personalized medicine, and rising government funding towards genomics are likely to fuel the growth of the market during the forecasted period.
However, the long approval processes and the lack of skilled professionals are creating a negative impact on the growth of the gene synthesis market over the projected period. Some of the other factors such as vicious competition that is the enticing reduction in price and technical limitation across the manufacturing processes are likely to limit the growth of the gene synthesis market in the near future.
Global Gene Synthesis Market: Segmental Analysis
Based on the application, the market is segmented into Academic Research and Commercial. On the basis of product type, the market is further segmented into above 5000 bp, below 1000 bp, 3001-5000 bp, and 1001-3000 bp.
Global Gene Synthesis Market: Geographical Outlook
North America is expected to be the largest consumption market for the gene synthesis due to its high demand by the biopharmaceutical companies as well as academic institutions. The Asia Pacific is likely to grow at a higher rate due to rising investment by private as well as government organization to support the growth of synthetic biology and its applications. Europe is also likely to grow at a remarkable rate due to increasing R&D expenditures by the pharmaceutical industries.
Global Gene Synthesis Market: Key Players
Bio Basic, Genescript, SBS Genetech, GeneArt (Thermofischer), Gene Oracle, IDT, Eurofins Genomics, DNA 2.0 (ATUM), Genewiz, BBI, and OriGene are some of the major players that are functioning in the global gene synthesis market.
Global Gene Synthesis Market: Competitive Landscape
Genescript is expected to be the largest supplier of gene synthesis during the projected period. It ranked top in the global market, other sophisticated manufacturers in Europe and the US may enter into the market through various mergers and acquisitions on smaller competitors to Genescript. This may result in a reshuffling of the biomedicine research services and due to this Genescript may lose its market share.