Gene synthesis involves chemically producing strands of DNA of varying lengths. It is used in various applications including gene editing, gene therapy, GMO creation and biologic drugs production. With the ability to easily alter DNA, gene synthesis has streamlined genomic research and biotechnology applications.
The global Gene Synthesis Market Share is estimated to be valued at US$ 2.49 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The gene synthesis market is witnessing significant growth due to increasing research activities in genomics as well as synthetic biology globally. Rising prevalence of chronic diseases coupled with growing focus on development of novel biologic drugs is further fueling demand for gene synthesis. Also, continuous technological advancements in DNA synthesizing equipments to produce long DNA strands accurately and rapidly is increasing its application in gene & cell therapy, and gene editing research. Growing pharmaceutical industry investments to develop novel drugs for cancer, infectious diseases using gene therapy and gene editing approaches is expected to drive the gene synthesis market growth over the forecast period.
Segment Analysis
Gene synthesis market is segmented into gene library synthesis and custom gene synthesis. Custom gene synthesis dominated the market in 2023. Custom gene synthesis offers several advantages including cost-effectiveness, convenience, minimal turnaround time, flexible design, and confidentiality of DNA sequence. Due to these advantages, researchers and scientists widely prefer custom gene synthesis over gene library synthesis.
Key Takeaways
The global Gene Synthesis Market Demand is expected to witness high growth, exhibiting a CAGR of 18% over the forecast period, due to increasing demand for synthesized genes from biotechnology and pharmaceutical companies for various applications including therapeutics development, diagnostics, and others.
Regional analysis
North America dominated the global gene synthesis market in 2023 due to presence of major market players and advanced research infrastructure in the region. Asia Pacific is expected to witness fastest growth during the forecast period owing to increasing investments by government and private organizations in life science research in countries such as China and India.
Key players
Key players operating in the gene synthesis market are Twist Bioscience Corporation, GenScript Biotech Corporation, Eurofins Scientific SE, and Thermo Fisher Scientific Inc. Twist Bioscience Corporation is one of the leading players in gene synthesis market due to its proprietary silicon-based DNA synthesis platform.
Get More Insights On This Topic: https://www.newsanalyticspro.com/cloud-computing-projected-to-boost-the-growth-of-gene-synthesis-market-trends-share/
Global Gene Synthesis Market: Analyst’s EstimationsThe first synthesis of an artificial gene dates back to 1970, achieved by Nobel Prize winner Har Gobind Khorana.
In the past half a century since the discovery, the concept of gene synthesis has been harnessed furiously and now has turned into a highly robust as well as flexible molecule engineering tool for chemical DNA synthesis.
In the recent past, DNA sequencing, automation, and amplification have become an integral part of clinical research pertaining to life science domains such as neuroscience, cancer biology, antibody engineering, genetics, and biochemistry.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=43520As per the findings of this business and commerce report, the demand in the global gene synthesis market will expand at a notable compound annual growth rate during the forecast period of 2018 to 2026.
Compiled by an experienced healthcare research professional, the report focuses on representing the commerce of the market for gene synthesis, providing qualitative and quantitative data in terms of US dollar million.
Developed by following proven market research methodologies, the report segments the market into smaller aspects, gauges the potential of demand showcased by different regions and countries, and profiles a number of leading players in a featured chapter on the competitive landscape.This gene synthesis market report has been prepared to act as a credible business tool for targeted audiences such as pharmaceutical and drug manufacturers, biotechnology companies, chemical and biofuel industries, academic and government research institutes, and venture capitalists and investment banks.Request COVID Analysis on Gene Synthesis Industry Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=43520Global Gene Synthesis Market: Drivers and RestraintsIncreased emphasis on clinical research to understand the biological systems at the core molecular level is anticipated to drive the demand in the gene synthesis market in the near future.
Moreover, gene synthesis has proven its worth as an efficient and cost-effective alternative to classical cloning and mutagenesis procedures.
