Synthetic Biology Market to Aid Market Growth at a Striking 25.5% CAGR through 2031

WESTFORD, MASSACHUSETTS, UNITED STATES, July 24, 2024 /EINPresswire.com/ -- Synthetic Biology Market size was valued at USD 11.3 Billion in 2022 and is expected to grow from USD 14.18 Billion in 2023 to reach USD 87.27 billion by 2031, at a CAGR of 25.5% during the forecast period (2024-2031).

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Synthetic biology combines various scientific disciplines like genetics, molecular biology, evolutionary biology, systems biology, and biophysics with biological, chemical, and computational engineering. The main objective of synthetic biology is to produce or re-create biological systems. The newly produced systems will then hold applications in medicine and the research industry. A few of the top active applications of synthetic biology include food production, agricultural bioengineering, biofuel production, and microbial engineering. In 2022, the global synthetic biology market size is estimated at USD 11.3 billion.

Advancement in Vaccine Development to Boost Vaccine Production Fueling the Market

Food production systems on the global scale are making efforts to sustainably depend on conventional sources of proteins that are resource-intensive and cause pollution. Advancements in substitute proteins will deal with this challenge through the new engineering sources like plant-based proteins, lab-grown proteins, and algae-derived proteins. The conventional development of vaccine is time-consuming and is slow and ineffective to some extent. To address this, improvements in development of vaccine to considerably accelerate synthetic RNA and DNA solutions to produce and design vaccines in less time.

Integration of Machine Learning and Artificial Intelligence to Impact Innovations over 4-5 years

The following are the key Synthetic Biology Trends that will shape the growth of the market in the next 5 years

The very latest improvements in computing power and growth of technologies like machine learning and artificial intelligence is driving modernizations. With the growing impact in various applications and networks, the demands for critical discourse and communication for implications of synthetic biology for the world. While synthetic biology provides great potential to product meat and milk without animals along with their related effect, the world will need better policies to control safety and quality and must understand the economic and global implications in the domain.

Emergence and Developments in CRISPR-Cas9 is Expanding its Use in Genetic Diseases

The introduction of CRISPR-Cas9 is the most recent innovation. It is a strong genome editing tool that helps researchers to make accurate changes to the sequences of DNA in living organisms. This has significantly transformed the genetic engineering domain and holds abundant potential to develop novel treatment and medicines for genetic disorders. There are numerous hints for sophistication with expanding clinical trials and industry patents. Technology is among the prime aspects for start-up foundations, licensing of technology, industrial research and development, and product development.

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Development at Chip-Level to be Useful for Image Sensing Over Next 10 years

Synthetic biology is expected to change the way food is grown, the food products we eat, and where the materials are sourced. With the speedy advancements in the domain, researchers and scientists are anticipating people flying in bee-copters, trees growing in squid-like spaceships or house, and more. The next 10 years will see more such products that will originate from affordability and superior performance from engineered biology. In the current scenario, the domain is already having a crucial impact. Moreover, the contribution from non-medical uses will significantly grow in the coming 10 years.

Latest Headlines and Headlights

In July 2023, Sumitomo Chemical Co., a leading chemical firms in Japan, and Ginkgo Bioworks, a leading platform for biosecurity and cell programming, announced a novel program to build functional chemicals using synthetic biology and grow the companies’ current partnership in biomanufacturing.

In October 2022, Sherlock Biosciences Inc. and Wyss Institute at Harvard University declared that Sherlock received an exclusive global license from Harvard University (OTD). The company will assimilate the technique, developed at Wyss Institute with its CRISPR-based SHERLOCKTM system to improve instrument-free diagnostic examines that can proficiently detect disease-related nucleic acids or pathogens at the point of need.

In August 2022, Codexis, Inc. a leader in enzyme engineering and Molecular Assemblies, Incorporation, a pioneer in enzymatic DNA synthesis field, announced the implementation of a Commercial License and Enzyme Supply Agreement. This allowed Molecular Assemblies to use a progressed terminal deoxynucleotidyl transferase (TdT) enzyme in Molecular Assemblies’ FES technology.

In April 2024, Agilent Technologies Inc. announced its involvement in Analytica 2024. The company discloses its recent transformative and innovative workflows. It will learn about the recently launched solutions and products that allow major workflows that are transforming laboratories into various industries.

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Synthetic Biology Potentials to Benefits Industries as well as the Environment

The developments in synthetic biology have been going on for many years in unique applications, thereby driving the technology more and more. Moreover, additional developments are important to realize that packed potential of synthetic biology is not just in the industrial-related production, but also in environmental applications and smart medications in future.

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