Synthetic Biology Market - Global Industry Trends, Analysis, Development and Future Scope
The global synthetic biology market is growing, due to increasing support from government organizations, and growing geriatric population. In addition, the innovative and advanced applications of synthetic biology, increasing research activities, and increasing R&D investments in drug discovery and development are also supporting the growth of this market.
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Additionally, the innovative and advanced applications of synthetic biology, increasing research activities, and increasing R&D investments in drug discovery and development are also supporting the growth of this market. However stringent regulatory requirements, expensive research procedures, and harmful effects of synthetic biology act as hindrance in the growth of the global market. The growing number of mergers and acquisitions is one of the latest trends observed in this market.
Geographically, North America dominated the global market, among all the regions in 2014; and it is expected to grow with a CAGR of 35.2% during the period 2015 – 2020. However, the Asian market is expected to witness fastest growth, with a CAGR of 39.8% during the forecast period.
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The key companies operating in the global synthetic biology market include E. I. du PONT de Nemours and Company, Amyris Inc., GenScript USA Inc., Intrexon Corporation, Thermo Fisher Scientific Inc., Synthetic Genomics Inc., Royal DSM, Novozymes A/S, New England Biolabs Inc., and Integrated DNA Technologies Inc.
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