Gene synthesis provides researchers with powerful tools for gene editing, genetic engineering, and customized vaccine and drug development. The global gene synthesis market has grown in recent years due to increasing demand for gene cloning and manipulation technologies across various end use industries such as biotech and pharmaceutical R&D.
The global gene synthesis market is estimated to be valued at US$ 2.49 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand for gene cloning techniques across research institutions and biotech firms has been a key driver of growth in the global gene synthesis market during the forecast period. Gene cloning allows scientists to copy genes and generate unlimited supplies of genetically engineered materials required for various biomedical applications. With advancements in gene editing and synthesis technologies, researchers are able to customize genes as per specific requirements with relative ease. This has accelerated the uptake of gene synthesis in drug discovery, agriculture, and development of new therapies and techniques, thereby contributing significantly to market growth.
Segment Analysis
The Global gene synthesis market size is segmented by type into gene libraries, gene fragments, and synthetic genes. The gene libraries sub-segment dominates the market as it finds wide applications for genomic research, drug discovery, and proteomic studies. They help research biologists to explore molecular mechanisms and discover various functions of genes, driving high demand for gene libraries.
Key Takeaways
Regional analysis: North America holds the largest share of the gene synthesis market. Growing interest in synthetic biology and genomic engineering coupled with government funding for genomic research are fueling demand in this region. Asia Pacific is expected to register the fastest growth over the forecast period owing to high spending on genomics & biotechnology research in China and India.
Key players: Key players operating in the gene synthesis market are Herb Pharm LLC, Apis Flora, Bee Health Limited, Y.S. Organic Bee Farms, Comvita Ltd, Wax Green, Apiary Polenecter, Uniflora Health Foods, Sunyata Pon Lee, NOW Foods, and Bio Botanica Inc. (Nature’s Answer). These players are focusing on new product launches, facility expansion and collaborations with research institutions to strengthen their market position.
The global gene synthesis market is expected to witness high growth over the forecast period. Rising demand for synthetic genes and gene libraries from biotechnology and pharmaceutical companies for various applications including protein production, drug discovery and development is a key factor driving market growth. Increasing R&D investments in genomics is also fueling demand.
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