PUBLISHER: Grand View Research | PRODUCT CODE: 1362948
PUBLISHER: Grand View Research | PRODUCT CODE: 1362948
The global gene synthesis (research use) market size is expected to reach USD 5.14 billion by 2030 and is expected to grow at a CAGR of 16.1% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The market growth is primarily propelled by the growing number of research & development activities, increasing market competition, and the rising development in the field of synthetic biology. The wide range of applications associated with gene synthesis is also projected to drive the market growth. The methods involved in gene synthesis have unique advantages and make it feasible for widespread use. For instance, the solid-phase synthesis technique involved in gene synthesis allows for the acceleration of synthesis reaction by using solution-phase reagents in excess.
It can be conducted without the need for a purification process after each step. In addition, this method helps in improving the efficiency of the synthesis process. Thus, several companies, including Agilent Technology and Blue Heron Biotech, use solid-phase synthesis methods for gene synthesis. The market growth has been fueled significantly during the last few years owing to the growing interest in synthetic biology and gene synthesis research and development activities. In addition, established research institutions and universities that conduct research activities on synthetic biology and gene synthesis are expected to support the market growth. For instance, the Center for Synthetic Biology at the University of Copenhagen is one of the leading departments conducting research on synthetic biology in Denmark.
In addition, Integrated DNA Technologies (IDT), a major company in the gene synthesis market, introduced the Collab Network in February 2023, which unites industry partners and researchers for impactful research and technological development. These factors are expected to augment the growth in gene synthesis in the coming years. Furthermore, the growing industry competition strengthens gene synthesis services. Key companies implement various approaches to provide cost-effective services and bolster their position in the industry. These market players are focusing on upcoming opportunities in the market. For instance, a team of Evonetix, a company in gene synthesis, attended the Synthetic Biology: Engineering, Evolution & Design (SEED) 2023 conference in Los Angeles to understand the advances in synthetic biology, which can help them reinforce their position in the gene synthesis and synthetic biology industry.