NEWARK, Del, Sept. 30, 2022 (GLOBE NEWSWIRE) — The global is expected to reach a valuation of US$ 592.1 Mn by 2032, with the market growing at a healthy CAGR of 7.7% from 2022 to 2032. Predicted to reach an estimated US$ 261.9 Mn in 2022, the DNA synthesis market is fueled by the growing application of the same in different end-use industries like agricultural science, food science, immunology, antibody discovery, cancer research, infectious diseases, and synthetic biology. Hence, the DNA synthesis market looks forward to robust prospects during the forecast period.
The natural creation of nucleic acid strands through DNA replication is referred to as DNA synthesis. They are synthesized artificially using genetic engineering and enzyme chemistry in a laboratory environment. The synthesized version is then used for various purposes and applications like therapeutic, diagnostics, and academic and industrial research. With a surge in the popularity of DNA synthesis, these applications have also increased in the past few years.
The growing adoption of gene therapy has contributed to the rise in the need for rapid gene synthesis products. These products provide accurate gene sequences in a short period of time. It enhances the body’s ability to fight against infection and diseases. The utilization of DNA synthesis is increasingly becoming important so as to avoid any alteration to DNA which may result in oncological diseases. In addition to this, the demand for DNA synthesis is also escalating due to its ability to repair the disease of premature ageing.
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The synthetic biology segment is a primary growth driver of the DNA synthesis market and accounts for a major share. Again, growing research and development associated with along with constant advancements made in the technological processes such as molecular separation and protein purification technology which assist in developing reliable, fast, and cost-effective solutions also contribute to the target market growth over the projected period.
“Rising application of DNA synthesis in areas like therapeutic, diagnostics, and academic and industrial research will drive the market growth of the same over the forecast period,” says an FMI analyst.
- Advancements in technological processes will strengthen the future possibilities of the DNA synthesis market.
- Extended wait for approvals of gene synthesizers and products may stunt the market growth.
- North America accounts for 30.2% of the global market share.
- The DNA synthesis market in Europe will likely hold 27.9% of the overall market share.
Brooks Automation, Inc. (GENEWIZ), Boster Biological Technology, ProteoGenix, Biomatik, ProMab Biotechnologies, Inc, Thermo Fisher Scientific, Inc, Integrated DNA Technologies, Inc, and OriGene Technologies, Inc., among others are some of the major players in the DNA synthesis market profiled in the full version of the report.
Leading market players are focusing on utilizing innovative marketing plans to achieve the highest profits. These enterprises are also keen on mergers, partnerships, and collaboration to strengthen their market presence.
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More Insights into DNA Synthesis Market Report
In its latest report, FMI offers an unbiased analysis of the global DNA synthesis market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of service type (oligonucleotide DNA synthesis, universal oligonucleotide DNA synthesis, custom oligonucleotide DNA synthesis, gene DNA synthesis, custom gene DNA synthesis, gene library DNA synthesis), application (DNA synthesis for research & development, DNA synthesis for academic application, DNA synthesis for industrial application, DNA synthesis for diagnosis, DNA synthesis for therapeutics), end user (biopharmaceutical companies, academic and research institutes, contract research organizations), and region.
According to the latest FMI reports, based on region, the DNA synthesis market in North America is predicted to display impressive growth over the forecast period. The region is expected to hold about 30.2% of the global market. Due to rising demand for gene therapy-based medication, the target market in this region will witness steady growth over the forecast period.
In Europe, the DNA synthesis market is expected to acquire about 27.9% of the global market share. The growing research and development activities on gene synthesis for vaccination programs drive the market growth in this region during 2022-2032.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
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