Gene Synthesis Market Size, Share, Growth Analysis, By Method (Solid-Phase Synthesis, Chip-Based Synthesis), By Service (Antibody DNA Synthesis), By Application, By End Use, By Region - Industry Forecast 2024-2031

Global Gene Synthesis Market size was valued at USD 2.1 billion in 2022 and is poised to grow from USD 2.44 billion in 2023 to USD 8.05 billion by 2031, growing at a CAGR of 16.1% during the forecast period (2024-2031).

The synthetic biology market is experiencing significant growth, driven by favorable government policies and increased investment interest. In 2020 alone, the sector attracted approximately USD 8.0 billion from both government and private sources. The COVID-19 pandemic has accelerated opportunities within genetic synthesis, with researchers exploring novel applications, such as the development of synthetic SARS-CoV-2 gene segments to enhance diagnostic capabilities. As synthetic DNA technologies gain traction, they present solutions to emerging viral threats and potential pandemics. Furthermore, the synergy between targeted therapies, immunology, and chemotherapy is attracting attention from biotech and pharmaceutical stakeholders, indicating lucrative opportunities ahead. However, the market faces challenges due to a scarcity of skilled professionals, prompting companies to collaborate with universities for training initiatives to nurture talent in this critical sector.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Gene Synthesis market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Gene Synthesis Market Segmental Analysis

Global Gene Synthesis Market is segmented by method, service, application, end use and region. Based on method, the market is segmented into solid-phase synthesis, chip-based synthesis and PCR-based enzyme synthesis. Based on service, the market is segmented into antibody DNA synthesis, viral DNA synthesis and others. Based on application, the market is segmented into vaccine development, therapeutics, diagnostics, research and development and synthetic biology. Based on end use, the market is segmented into academic and research institutes, biopharmaceutical companies and contract research organizations (CROs) and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Gene Synthesis Market

The global gene synthesis market is primarily driven by the increasing adoption of gene synthesis technologies across a multitude of research and development domains, such as molecular biology, synthetic biology, drug discovery, and genetic engineering. This innovative technology allows researchers to explore gene functions, create genetically modified organisms, devise new therapeutic solutions, and design novel biological systems. As the applications of gene synthesis expand within both academia and industry, its significance in driving scientific advancements becomes more pronounced, ultimately contributing to the growth of the market. The diverse utilization of gene synthesis in cutting-edge research significantly propels its demand.

Restraints in the Global Gene Synthesis Market

The Global Gene Synthesis market faces significant restraints primarily due to ethical and regulatory concerns. The potential for misuse of synthesized genes, which could lead to the creation of harmful pathogens or organisms, raises serious ethical questions. To mitigate these risks, various regulatory frameworks have been established, necessitating strict adherence to ethical guidelines and compliance mandates within the industry. However, these stringent regulations can also hinder market growth by complicating the processes required to obtain necessary approvals and licenses for certain applications. As a result, these challenges can create barriers that slow down innovation and development within the gene synthesis sector.

Market Trends of the Global Gene Synthesis Market

As of October 2023, the Global Gene Synthesis market is witnessing robust growth driven by the surging demand for gene editing and gene therapy technologies, especially with advancements like CRISPR-Cas9. The need for customized DNA constructs is becoming paramount in both experimental research and therapeutic applications, fueling the expansion of gene synthesis services. This intensified focus on precision medicine and genetic modifications is fostering innovation and collaboration among biotech firms, academic institutions, and healthcare providers. Consequently, the gene synthesis sector is positioned for a significant upturn, aligning with broader trends in molecular biology and personalized healthcare solutions globally.