The gene synthesis market involves the process of creating artificial genes through chemical or enzymatic methods. Artificial genes are synthesized as DNA oligos that are assembled and amplified by polymerase chain reaction to construct full-length genes. Gene synthesis finds wide applications in various research areas such as protein engineering, metabolic engineering, and synthetic biology. The growing demand for synthetic genes from pharmaceutical and biotech companies to accelerate drug discovery is a major factor driving the growth of this market.
The global gene synthesis market is estimated to be valued at US$ 2.4 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.
Key Takeaways
Key players
Key players operating in the gene synthesis market are Atum, ATDBio Ltd., Bioneer Corporation, Eurofins Scientific, Eurogentec, GenScript Biotech Corporation, Genewiz, Integrated DNA Technologies, Inc., OriGene Technologies, Inc., and Thermo Fisher Scientific, Inc.
Key opportunities
Rising funding for synthetic biology and gene therapies from public as well as private sectors is presenting lucrative opportunities for growth. Continued advancements in DNA synthesis technologies are enabling rapid, large-scale, and cost-effective gene synthesis.
Global expansion
Leading gene synthesis companies are strategically expanding their global manufacturing footprint to cater to the growing demand from international markets. Partnerships with contract research organizations are helping in expanding customer reach and offerings.
Market drivers
The growing R&D activities in pharmaceutical and biotech industries for developing novel drugs and diagnostics using synthetic genes is a major factor fueling market growth. Synthetic genes find wide use as DNA vaccines, for gene editing applications, antibody engineering, and as molecular tools and reagents. This is accelerating the demand for cost-effective, rapid, and scalable gene synthesis processes.
PEST Analysis
Political: The gene synthesis market is influenced by government regulations on research involving synthetic DNA. The governing bodies lay down guidelines to ensure safety and ethics are followed in research.
Economic: Rising funding for genetic and biomedical research from private investors as well as government bodies is fueling growth in the gene synthesis market. Additionally, increasing R&D expenditure of biopharma companies on drug discovery and development expands the potential opportunities.
Social: Public awareness about applications of synthetic genes in developing new treatments and diagnostics for previously untreatable diseases is increasing acceptability of genetic engineering technologies. However, some ethical concerns persist regarding biosafety.
Technological: Advancements in gene design software and DNA assembly techniques enable rapid, large-scale, and cost-effective gene synthesis. Automation of synthesis processes along with adoption of next-generation sequencing aids in improving synthesis speed and quality. Emergence of new gene editing technologies is further expanding the scope.
Geographical concentration
The gene synthesis market in the United States holds the major share, globally, in terms of value. This can be attributed to presence of most number of companies offering gene synthesis services and high research spending on genomics and biotechnology in the country. North America contributes over 40% to the global market revenue.
Fastest growing region
Asia Pacific region is poised to witness the fastest growth in the gene synthesis market during the forecast period. This is driven by increasing research funding, establishment of research institutes and biotech hubs, and growing collaborations between international and domestic players in countries such as China and India.
