Synthetic biology is an emerging concept that has numerous applications in the chemicals, agriculture, pharmaceuticals, and energy industries. Various start-ups offer gene synthesis products/services for biological processes. For example, Benchling provides CAD tools, GenScript offers gene synthesis, Ginkgo Bioworks assists in organism engineering, Transcriptis (a bioinformatics company) offers solutions facilitating cloud labs/automation, and Glowee offers consumer products. Amid the adverse effects of the COVID-19 pandemic on start-up performance, the bioeconomy accelerated in the first half of 2020. 56 synthetic biology businesses raised more than US$ 3 billion in equity financing in the first half of 2020, compared to 65 companies raising US$ 1.9 billion during the same period in 2020. The new generation of biopharma businesses uses synthetic biology to improve cell treatment and gene therapy and support early cancer detection. With such rising investments by companies, the demand for synthetic biology-based new techniques is increasing, thereby driving the synthetic biology market growth across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely
to drive the North America synthetic biology market. The North America synthetic biology market is expected to grow at a notable CAGR during the forecast period.
North America Synthetic Biology Market Segmentation
The North America 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 the 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, while the genome engineering segment is expected to be fastest growing during the 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 grow at the fastest rate during the forecast period. The North America synthetic biology market is segmented into the US, Canada, and Mexico.
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 North America synthetic biology market.