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The Global Gene synthesis Market Anticipated to Generate a Revenue of $42,14,890.1 Thousand , Growing at a CAGR of 18.5% from 2021 to 2028

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The global gene synthesis market is estimated to be valued at $42,14,890.1 thousand  by 2028, surging from $11,10,000.0 thousand  in 2020, at a noteworthy CAGR of 18.5%.

Impact Analysis of COVID-19 on the Gene Synthesis Market

The global market for gene synthesis is estimated to experience a positive growth amid the COVID-19 pandemic. As the COVID-19 pandemic progressed, various industries experienced ups and downs; on the other hand research and development activities worldwide have increased and it is impacting the gene synthesis market.

Furthermore, the growth of the market is the result of increasing demand for gene synthesis throughout the pandemic for various research related to COVID-19. For instance, according to National Institute of Standards and Technology (NIST), in 2020 their researchers have produced synthetic gene fragments from the virus of COVID-19 for accurately diagnose the virus. All such aspects are predicted to bring new opportunities in the global gene synthesis market during pandemic.       

Global Gene Synthesis Market Analysis

The enormous growth of the global gene synthesis market is mainly attributed to increasing adoption of gene therapy that has increased the adoption of gene synthesis products that will provide an error free gene sequencing in very less interval of time and therefore driving for the gene synthesis market. Moreover, government support and private company investments are some of the factors that are fueling the global gene synthesis market. For instance, in March 2018, SynbiCITE, UK based National Innovation and Knowledge Centre that uses synthetic biology, revealed that they have received approximately US$ 17.6 thousand  grants and US$ 318.5 thousand  private investment. Also, SynbiCITE has supported synbio, a biotech company at national level for increasing the application of gene synthesis.  All such aspects will fuel the global market growth.  

Lack of skilled professionals in gene synthesis market and high cost of gene synthesis are some of the factors that may create a negative impact on the market during the forecast period.

The increasing penetration of personalized medicines that has paved the way for genomic which demands error free gene sequencing at very low cost and in less span of time, may create huge opportunities for the market in the future. Moreover, large application of gene synthesis in healthcare is one of the factors expected to bring revenues to the companies operating in the gene synthesis market. These are some of the elements that may further lead to lucrative market opportunities in the market in the upcoming years.

Global Gene Synthesis Market, Segmentation

The global gene synthesis market is segmented based on method, end-user, and region.   

Method:

The method segment is further divided into solid phase synthesis, PCR based enzyme synthesis, and CHIP based DNA synthesis. The solid phase synthesis sub-segment is anticipated to be the dominating as well as fastest growing sub-segment in the global market and register a revenue of $20,06,287.7  thousand  during the analysis timeframe.  

The growth of solid phase synthesis sub-segment is attributed to its advantages such as high efficiency and throughput along with its simplicity and speed.  

End-user:

The end-user segment is further divided into academic & research institutes, biotech & pharmaceutical companies, diagnostic laboratories, and other. The academic & research institutes sub-segment is anticipated to be the dominating sub-segment in the global market and register a revenue of $17,36,534.7  thousand  during the analysis timeframe.  

The growth of academic & research institutes sub-segment owes to their growing research activities in genome industry. Moreover, academic & research institutes are mostly funded by various organizations and government for the betterment of gene synthesis. These aspects may aid in the generation of a lucrative revenue for the market throughout the forecast period.          

Region:

The gene synthesis market for the North America region is projected to witness dominant share. This market generated a revenue of $4,28,460.0 thousand  in 2020 and is further projected to reach up to $16,31,162.5  thousand  by 2028.

The demand for gene synthesis is surging in the North America region specifically because of factors such as increasing population with genetic disorders in the region. Moreover, rising prevalence of genetic disorders and government support that are in support of gene synthesis, are the some of the primary factors responsible for market growth in the region.

Key Players in the Global Gene synthesis Market

Some of the leading global gene synthesis market players are

  1. GenScript
  2. Brooks Automation, Inc. (GENEWIZ)
  3. Boster Biological Technology
  4. Twist Bioscience
  5. Codex DNA
  6. Biomatik
  7. ProMab Biotechnologies, Inc.
  8. Thermo Fisher Scientific, Inc.
  9. Integrated DNA Technologies, Inc.
  10. OriGene Technologies, Inc.

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Porter’s Five Forces Analysis for the Global Gene Synthesis Market

  • Bargaining Power of Suppliers: The suppliers involved in the market are extensive in number. Thus, manufacturers and companies have several options and alternatives to handle expensive supplies. Hence, there will be low threat from the supplier side.
    Thus, the bargaining power of the suppliers is low. 
  • Bargaining Power of Buyers: Buyers have high bargaining power, primarily because of high availability of different gene synthesis products.
    Hence, the bargaining power of buyers is high. 
  • Threat of New Entrants: Startups entering this market are providing best product and services in gene synthesis to the customers.
    Thus, the threat of the new entrants is high.
  • Threat of Substitutes: Different technologies are available in the field of synthetic, but gene synthesis is the most accurate method for gene synthesis.
    therefore, the threat of substitutes is low. 
  • Competitive Rivalry in the Market: The ventures operating in the global gene synthesis are opting for various businesses deployment strategies to hold their position in the market. Several companies are launching their value-added services in the international market and strengthening the footprint worldwide.
    Therefore, competitive rivalry in the market is high.
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