European Synthetic Biology Market Size, Share, Trends & Forecast 2019-2025
Posted by OMR Global on March 11th, 2020
The European synthetic biology market is anticipated to grow at the CAGR of 31.8% during the forecast period. Major European economies contributing in the market are the UK, Germany and France. Various biotech companies are working in the field of synthetic biology in these economies. Additionally, several associations have been established in the region for providing better environment in research and development. Number of universities such as the Cambridge University, have also involved in various studies and research in the field of synthetic biology in collaborations of government or companies or both. Due to this, factor a positive environment for the research and development in synthetic biology has been created in the region.
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Furthermore, technological advancements in the life science sector have resulted in increased speed and reduced cost of DNA amalgamation. This enables researchers to design and integrate adjusted bacterial chromosomes that can be utilized as a part of the generation of cutting-edge biofuels, bio-items, sustainable chemicals, and others. The advancements in modern engineering have enabled scientists to build new sequences of DNA.
A full Report of European Synthetic Biology Marketis Available at: https://www.omrglobal.com/industry-reports/european-synthetic-biology-market
The European synthetic biology market is segmented on the basis of product, technology, and applications. Based on the product, the market is segmented into enabling product, core product, and enabled product. Core product includes synthetic genes, synthetic cells, synthetic DNA, chassis organisms and xeno nucleic acid (XNA), and are expected to hold a significant share in the market owing to extensive use of core products in R&D. Based on technology, the market is segmented into, and gene synthesis & sequencing, genome engineering, bioinformatics, and others. Based on application, the market is segmented into medical application, industrial application, food & agriculture, and environmental applications.
The report study of the European synthetic biology industry includes the competitive analysis of various players as well as the trend followed by them to sustain in the market. Some of the players operating in the market include Twist Bioscience Corp., Merck KGaA, GenScript Biotech Corp., Thermo Fisher Scientific Inc., Amyris Inc., Codexis Inc, Ginkgo Bioworks, and many others. These players are focusing on agreements along with new product launches for expanding their business. For instance, in 2017, Ginkgo Bioworks completed its acquisition of Gen9, a Cambridge based gene synthesis company. With this acquisition, the company aimed at strengthening its market reach in different geographies.
European Synthetic Biology Market Segmentation
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