According to a new market research study titled ‘Gene Synthesis Market to 2025 – Global Analysis and Forecasts by Product & Services, Application and End User the global gene synthesis market is expected to reach US$ 20,122.3 Mn in 2025 from US$ 2,866.1 Mn in 2017. The market is estimated to grow with a CAGR of 28.7% from 2018-2025. The market is expected to grow owing to increase in R&D expenditures and rise in number of startup companies across the globe. However, dearth of skilled professionals and extensive competition among gene synthesis are expected to act as major challenges hindering the market growth.
The current scenario of the gene synthesis market is growing due to increasing usage of gene synthesis in personalized medicine. Gene synthesis technology is a key driver of precision medicine and has improved its accuracy, speed, and cost. The technology is capable of rapidly sequencing large sections of a person’s genome and aids in formulation of precision medicine. Synbio, or the engineering of biological systems, allows the construction of new biological entities e.g. cells and genetic interactions, however, it also builds on the understanding of disease mechanisms. This in return generates cost-effective alternatives for the existing therapies and it allows novel treatments in multiple specialties, such as metabolic disorders and cancer.
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On the basis of application segment, research & developmental activities segment expected to hold the largest share over the forecast period. The gene synthesis is widely used in the field of research with the advantages of ease of use and cost effective mechanism. The technology is basically used to produce safer and more effective DNA vaccines. Moreover, the technique also offers a myriad of possibilities of applications starting from gene regulation to better understanding evolution and antibiotic resistance. Owing to these advantages, research & developmental activities is expected to drive the market in the coming years.
The global gene syntheis market is highly competitive due to the presence of large numbers of players which is attributed to the easy market entry and high profit margins in the market. Some of the prominent players in this market are thus indulged into adoption of inorganic growth strategies such as collaboration, acquisitions and alliances. For instance, in October 2017, the Integrated DNA Technologies (IDT) acquired oligonucleotide manufacturing business of GeneWorks Pty Ltd. (GeneWorks) in Australia. This acquisition is expected to help the company to expand its reach in the Asia-Pacific region, following its recent establishment of sales offices in Japan and Korea.
The report segments the global gene synthesis market as follows:
Global Gene Synthesis Market – By Products & Services
Global Gene Synthesis Market – By Application
- Research & Developmental Activities
Global Gene Synthesis Market – By End User
- Academic & Research Institutes
- Diagnostics Laboratories
- Biotech & Pharmaceutical Companies
Global Gene Synthesis Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
- South Africa
South America (SAM)
The growth of global gene synthesis market is expected to be driven by clinical research relating to life science domains such as cancer biology, neuroscience, genetics and biochemistry. The other factors such as the increasing investments & funds for gene synthesis and growing numbers of mergers & collaborations by the market players add novel opportunities for the global market of gene synthesis. However, the lack of skilled professionals is expected to hamper the growth of the market.
The players operating in the global gene synthesis market include Thermo Fisher Scientific Inc, Integrated DNA Technologies, Inc., Twist Bioscience, OriGene Technologies, Inc., BioCat GmbH, GenScript, Eurofins Scientific, Bioneer Corporation, ATUM, GENEWIZ and among others.
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