What is the global market size of Gene Synthesis Market?

Global Gene Synthesis Market size was valued at USD 1.52 Billion in 2021 and is poised to grow from USD 1.76 Billion in 2022 to USD 5.78 Billion by 2030, at a CAGR of 16.1 % during the forecast period (2023-2030).

Gene Synthesis Market Size, Share, Growth Analysis, By Method(Solid-phase Synthesis, Chip-based Synthesis, and PCR-based Enzyme Synthesis), By Services(Antibody DNA Synthesis, Viral DNA Synthesis, and Others), By Application(Gene & Cell Therapy Development, Vaccine Development, and Disease Diagnosis), By End-use(Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, and Contract Research Organizations), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35H2240 | Region: Global | Published Date: February, 2024
Pages: 219 | Tables: 117 | Figures: 77

Gene Synthesis Market Dynamics

Drivers

Growing Applications in Research and Development

Gene synthesis plays a crucial role in various fields of research and development, including molecular biology, genetic engineering, drug discovery, and synthetic biology. It enables scientists to study gene function, create genetically modified organisms, develop novel therapeutic agents, and engineer new biological systems. The expanding applications of gene synthesis in research and development activities drive market growth.

Restraints

Ethical and Regulatory Concerns

The field of gene synthesis raises ethical concerns related to the potential misuse of synthesized genes, such as the creation of dangerous pathogens or organisms. Regulatory frameworks are in place to address these concerns, and adherence to ethical guidelines and regulatory compliance is crucial for the gene synthesis industry. Stringent regulations can sometimes act as a restraint on the market, especially in terms of obtaining approvals and licenses for certain applications.

Gene Synthesis Market Report Snapshots

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Gene Synthesis Market size was valued at USD 1.76 Billion in 2022 and is poised to grow from USD 2.04 Billion in 2023 to USD 6.75 Billion by 2031, at a CAGR of 16.10 % during the forecast period (2024-2031).

Key market participants are pursuing a number of strategic initiatives, including collaborations, partnerships, & geographical expansions in favorable regions. Companies are launching new items to diversify their product portfolios in the market. ProteoGenix, for example, introduced the XtenCHO Transient CHO Expression System in March 2022. 'Thermo Fisher Scientific Inc.', 'GenScript Biotech Corporation', 'Twist Bioscience Corporation', 'Eurofins Scientific SE', 'ATUM (formerly DNA2.0)', 'Integrated DNA Technologies, Inc.', 'OriGene Technologies, Inc.', 'Bioneer Corporation', 'GeneArt (a division of Life Technologies)', 'Bio Basic Inc.', 'GENEWIZ LLC', 'BioCat GmbH', 'Eurogentec S.A.', 'Biomatik Corporation', 'Creative Biogene', 'LC Sciences', 'Gene Universal Inc.', 'Blue Heron Biotech LLC', 'Genewell Co., Ltd.', 'Quintara Biosciences Inc.'

Gene synthesis plays a crucial role in various fields of research and development, including molecular biology, genetic engineering, drug discovery, and synthetic biology. It enables scientists to study gene function, create genetically modified organisms, develop novel therapeutic agents, and engineer new biological systems. The expanding applications of gene synthesis in research and development activities drive market growth.

Increasing Demand for Gene Editing and Gene Therapy: The field of gene editing, particularly with technologies like CRISPR-Cas9, has gained significant attention in recent years. Gene synthesis plays a crucial role in providing custom DNA constructs for gene editing experiments and gene therapy applications. The growing interest in gene editing and gene therapy is driving the demand for gene synthesis services.

North America held the highest revenue in 2022. This can be attributed to the presence of many important market participants offering gene synthesis services, as well as the increased interest of large biotechnology and pharmaceutical businesses in gene and cell technologies therapy development, the region's expanding field of synthetic biology, and growing interest in gene production in the molecular biology arena.

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Gene Synthesis Market Dynamics

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