September 4, 2018 ( PR Submission Site ) Synthetic Biology Market is expected to reach 20.29 billion by 2026 from 3.17 billion in 2016 at CAGR of 20.4%(Detailed analysis of the market CAGR is provided in the report) Synthetic Biology aims to make a combination of engineering and biological processes as it uses engineering principles to design and assemble biological components.
Synthetic biology is a Redesign of existing biology system with the help of various novel entities like genetic circuits, enzymes, cells. Synthetic biology enables us to go from idea to product faster, cheaper, and with greater precision than ever before with the inclusion of Advanced Chemistry, Biology, Computer Science, Engineering In another word, we can call it as biology-based “toolkit” that uses abstraction, standardization, and automated construction to change how we build biological systems and expand the range of possible products.
Rising R&D funding and initiatives, increasing demand for protein therapeutics, synthetic genes and synthetic cells, renewal fuels, bio-based chemicals, expensive drugs, and vaccines that utilize synthetic biology are expected to drive the growth of the Synthetic Biology solutions market during the forecast period. However, high expenses, strict regulations regarding safety and uncertainty in government policies are expected to restrain the market growth.
The highest revenue-generating region is Europe followed by North America In 2016; Due to higher investment in developing a synthesis of biologically based or biologically inspired systems. North America Defense had a major contribution to the investment done in the past years. India and China are said to progress in developments over future to be a part of the Synthetic biology market and will lead Asia Pacific region to generate a significant level of revenue by 2026 Key Highlights:
• Synthetic Biology market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Synthetic Biology market.
• Synthetic Biology market segmentation on the basis of product, technology, application and geography (country-wise) has been provided.
• Synthetic Biology market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of the study.
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