Synthetic Biology is designed to generate novel biological systems by combining engineering and sciences for useful purposes. Synthetic Biology is the mechanism of new biological units like cells, enzymes, genetic circuits and modification of existing biological system. Main objective of synthetic biology is to fabricate new biological components that do not exist in the natural world like production of advanced bio fuels, renewable chemicals, bio products etc. For developing biological system, synthetic biology identifies the standardized genomic units that can be used for synthesizing quickly and assemble small genomic parts into integrated large system to solve specific biological issues.
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The major driving factor of this market is decreasing cost of DNA sequencing and R&D department. Technology advancement and waste management are the major factors for the growth of this market. Synthetic biology is proper environment friendly technique and it gained popularity for hazardous clean up initiatives to degrade refractory chemicals such as dioxins, pesticides or even radioactive compounds through engineered microbes. Synthetic biology helps to stabilize the price growth in medical sector that increases the demand of this market rapidly. Advancement in genome engineering reduces the risk of chronic diseases like cancer and diabetes by DNA synthesis technology and Clustered Regularly Interspaced Short Palindromic Repeats techniques. This technology is majorly used in biomedical, pharmaceuticals, agriculture, biofuel and chemical industry. Synthetic biology is useful for farmers to yield more crops in lower cultivation land and it provides more precision and perfection than previous gene technology. The restraints of this market are biosafety and biosecurity but these issues can be addressed by Government regulatory bodies and research institution. Sometimes manufacturing and testing process is complicated and irregular and newer diseases may cause major challenges for growth of this market.
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Many companies prominent their market presence in this market by introducing innovative and technologically advanced tools and products. The key players of this market are Novozymes, Merck KGaA, Intrexon Corporation, Agilent Technologies, Thermo Fischer Scientific, Integrated DNA technologies, Eurofins Scientific, Inc., Origene technologies, Scientific genomics Inc., Editas Medicine, Inc., Pareto Biotechnologies,Twist biosciences, Syntrox Inc., Sigma-Aldrich Co. LLC., Amyris Biotechnologies, Epoch Life Science Inc.
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The Global Synthetic Biology Market has been segmented on the basis of types of products, technology, application and key geographies. The research report “Global Synthetic Biology Market” provides in-depth analysis of global Synthetic Biology market based on types of products, technology, application and major geographies for the forecast period from 2018 to 2024. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the global Synthetic Biology market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
Key questions answered in this research report:
- At what pace is Synthetic Biology market growing? What will be growth trend in future?
- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Synthetic Biology?
- What are the various application areas and how they are poised to grow?
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