Report : Europe Synthetic Biology Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Products (Enzymes, Chassis Organisms, Oligonucleotides, and Xeno-Nucleic Acids), Technology (Measurement & Modeling, Cloning & Sequencing, Genome Engineering, Gene Synthesis, Nanotechnology, and Others), and Application (Medical Applications, Industrial Applications, Food and Agriculture, Environmental Applications, and Others)
Gene Synthesis Segment to Dominate Europe Synthetic Biology Market During 2021–2028
According to a new market research study on “Europe Synthetic Biology Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Products, Technology, and Application” is expected to reach US$ 11,362.83 million by 2028 from US$ 3,111.58 million in 2021. The market is estimated to grow at a CAGR of 20.3% from 2021 to 2028. The report provides trends prevailing in the Europe synthetic biology market along with the drivers and restraints pertaining to the market growth. Surging number of start-ups is the major factor driving the growth of the Europe synthetic biology market. However, renewed regulations for biotechnology may hamper the growth of the market hinders the growth of Europe synthetic biology market.
The Europe synthetic biology market is analyzed based on products, technology, application, and country. Based on products, the market is segmented into enzymes, chassis organisms, oligonucleotides, and xeno-nucleic acids. The oligonucleotides segment dominated the market in 2020 and is expected to be fastest growing during forecast period. Based on technology, the market is segmented into measurement & modeling, cloning & sequencing, genome engineering, gene synthesis, nanotechnology, and others. The gene synthesis segment dominated the market in 2020 and genome engineering is expected to be fastest growing during forecast period. Based on application, the market is segmented into medical applications, industrial applications, food and agriculture, environmental applications, and others. The medical applications segment dominated the market in 2020 and is expected to be fastest growing during forecast period. Based on country, the Europe synthetic biology market is segmented into the UK, Germany, France, Italy, Spain, and Rest of Europe.
Agilent Technologies, Inc.; Amyris; Codexis; Genscript Biotech corporation; Integrated DNA Technologies; Merck KGaA; New England Biolabs; Novozymes A/S; Thermo Fisher Scientific; and Twist Bioscience are among the leading companies in the Europe synthetic biology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Merck Advances BioProcessing Capabilities with Acquisition of MAST Platform from Lonza, a Leading Automated Bioreactor Sampling System. The acquisition of the MAST platform is another milestone to accelerate innovation in Merck’s Process Solutions business unit.
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