Gene Synthesis Market Expected to Reach $5,979 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Gene Synthesis Market," The gene synthesis market was valued at $1,110 million in 2021, and is estimated to reach $5,979 million by 2031, growing at a CAGR of 18.4% from 2022 to 2031.

The advanced developed technologies in gene synthesis with biological synthetic processes are widely accepted in the market in the DNA created technology which helps to boost the gene synthesis market. Increased research and development for gene synthesis and utilisation of genes for new drug or therapy development along with enhanced innovation and long-term therapy production such as targeted therapy is projected to drive the market growth in the forecast time period. Immunotherapy has become a popular treatment option for people suffering from increasing chronic disorders as these therapies provide a ray of hope of treatment of chronic diseases such as cancer and tumors. This helps to boost the gene synthesis market size over the forecast period.    

However, some of the disadvantages of gene synthesis include the lack of skilled personnel. Rapid advancement of gene therapy technology necessitates skilled and experienced individuals for the insertion of genes or the implementation of gene therapy procedures in patients. Lack of skill among the workers and incapacity to carry out therapy are factors that may restrict the gene synthesis market growth throughout the projected period. 

The use of several genes in gene therapy is a complex process that aims to avoid a specific illness type. The procedure entails injecting genes into patient cells rather than using drugs and surgery. Due to the growing desire for distinctive and long-lasting therapeutic effects, gene therapy is becoming more widely used. Synthetic gene constructs are needed, along with other gene products, to hasten the development of gene therapy. The prevalence of genetic illnesses has increased the need for a suitable treatment, and gene therapy can treat a particular disease type. Due to growing demands, leaders are continuously concentrated on producing gene therapy medications, securing approval, and acquiring marketing authorizations. Moreover, growth in research and development activities in next-generation genome sequencing and increasing government support for genomics are projected to provide lucrative opportunities for the gene synthesis market growth. 

The global gene synthesis market share is segmented based on method, end user, and region. As per method, it is classified into solid phase synthesis, PCR based enzyme synthesis, and chip based DNA synthesis. By end user, it is classified into academic and research institutes, biotech and pharmaceutical companies, diagnostic laboratories, and other. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The key players profiled in the gene synthesis market report include Genscript Biotech Corporation, Thermo Fisher Scientific, Inc., Brooks Automation, Inc., Boster Biological Technology, Twist Bioscience Corporation, Danaher Corporation, Biomatik Corporation, ProteoGenix, ProMab Biotechnologies, Inc., and OriGene Technologies, Inc. 

The report offers a comprehensive analysis of the global gene synthesis market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market. 

Impact of Covid-19 on the Global Gene Synthesis Industry 

• The novel coronavirus pandemic had a major impact on a number of industries. During this time, there was a significant increasing trend in the international market for gene synthesis. Utilizing gene synthesis in scientific research has contributed to the market's rapid rise and increased income. 

• COVID-19 impacted almost all industries and the companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, shortage of skill; the fear of contracting the novel coronavirus led to sluggish demand in the market.  

• Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market.  

Key Findings of the Study 

• Based on method, the solid phase synthesis sub-segment emerged as the global leader in 2021 and PCR based enzyme synthesis sub-segment is anticipated to be the fastest growing sub-segment during the forecast period. 

• Based on end user, the academic and research institutes sub-segment emerged as the global leader in 2021 and it is predicted to show the fastest growth in the upcoming years. 

• Based on region, the North America market registered the highest market share in 2021 and Asia-Pacific is projected to maintain the position during the forecast period.