Global Synthetic Biology Market Is Expected to Reach USD 16.7 Billion Globally in 2018: Transparency Market Research

Online, April 30, 2013 (Newswire.com) - According to a new market report published by Transparency Market Research "Synthetic Biology Market, Global Industry Analysis, Size, Growth, Share and Forecast, 2012 - 2018", global Synthetic biology market was worth USD 1,537.5 million in 2011. The market grew to a value of USD 2,120 million in 2012, and is expected to reach USD 16,745 million by 2018, growing at a CAGR of 41.1% from 2010 to 2018. In the overall global market, Europe holds the maximum market share, and is expected to maintain its lead position in terms of revenue till 2018.

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The global Synthetic biology market is driven by factors such as increasing incidence of oceanic oil spills and other types of pollutions, potential substitute of genetic engineering, increasing demand for cross bred animals, dropping prices of DNA sequencing and DNA synthesis, increasing population is increasing the demand for GM (Genetically Modified) food, increasing demand for alternative energy resources like biofuels, and rising R&D investments in drug development.

Some of the opportunities in the synthetic biology market which would drive the revenue of the industry in the future include rising economies of Asia Pacific regions and the BRICS nations, and increasing investments of WHO and other NGOs in third world countries to fight epidemic diseases such as malaria. Europe holds the maximum market share in the synthetic biology market, owing to high demand of synthetic biology products like biofuels and increasing R&D activities in the field of synthetic biology. The Europe synthetic biology market was valued at USD 619.5 million in the year 2011, and is expected to grow at a CAGR of 39.8% from 2012 to 2018, to reach USD 6,389.5 million by the year 2018.

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The synthetic biology market can be segmented into 4 major categories: synthetic biology market by products, synthetic biology market by enabled product application, synthetic biology technology by enabling technology and synthetic biology by geography. The global synthetic biology market by enabling technology was valued at USD 183.84 million and is expected to grow at a CAGR of 44.7% from 2012 to 2018, to reach an estimated value of USD 1780.40 million by 2018.

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