Gene synthesis refers to the artificial construction of genes. Synthetic genes are assembled from nucleic acids and are often used to assist various applications in biotechnology, pharmaceuticals, and diagnostics. Key application areas of synthetic genes include manufacturing of pharmaceuticals, strain engineering, genetic testing, and vaccine production.

The global Gene Synthesis Market Share is estimated to be valued at US$ 2.49 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The gene synthesis market is expected to witness significant growth over the forecast period owing to increasing use of synthetic genes in pharmaceutical applications. Growing demand for synthetic genes to manufacture therapeutic proteins for treating various diseases such as cancer is expected to boost the market growth. Moreover, widespread use of synthetic genes for strain engineering applications to develop genetically modified organisms with improved traits is another factor expected to propel the gene synthesis market growth during the forecast period. However, high cost associated with gene synthesis is a factor expected to hinder the market growth to some extent.

SWOT Analysis

Strength: Gene synthesis allows for design and engineering of genes and genomes. This enables the production of genes and DNA segments that do not exist in nature. Gene synthesis reduces time and cost of DNA assembly as it provides ready-made genes.

Weakness: Gene synthesis requires specialized infrastructure and skilled workforce which increases costs. There are also ethical concerns around re-engineered genes which pose risks if released into the environment.

Opportunity: Advancing gene editing technologies are driving demand for customized genes. Rising R&D investment in pharmaceutical and biotech sector also presents an opportunity. Synthetic biology applications across healthcare, agriculture, and other industries will boost the market.

Threats: Strict regulations around use of synthesized genes pose challenges. Delay in approval processes can hamper market growth. Alternate gene editing technologies can emerge as substitutes.

Key Takeaways

The global Gene Synthesis Market Demand is expected to witness high growth, exhibiting a CAGR of 18% over the forecast period, due to increasing R&D investment and advancing synthetic biology applications.

Regional analysis: North America dominates the market currently due to presence of major players and high biotech research funding. Asia Pacific is anticipated to grow at the fastest pace due to increasing government support for emerging biotech markets in China, India, and South Korea.

Market size: The global Gene Synthesis Market size for 2023 is US$ 2.49 Bn. Gene synthesis is used across industries like healthcare, agriculture, energy, etc. This wide range of applications will drive the market in coming years.

Key players: Key players operating in the Gene Synthesis Market are Twist Bioscience Corporation, GenScript Biotech Corporation, Eurofins Scientific SE, and Thermo Fisher Scientific Inc. These leaders are focused on developing advanced gene synthesis platforms and customized DNA products.

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