Global Market for Synthetic Biology to Achieve Bli

Wellesley, Mass, Feb. 21, 2017 (GLOBE NEWSWIRE) -- Continuing advances in enabling technologies such as DNA synthesis and sequencing, specialty media, genome editing and bioinformatics, as well as a need for more efficient microbial production processes, are driving growth in the synthetic-biology global market. BCC Research reveals in its new report that developments in these multidisciplinary fields promise to advance the synthetic-biology industry and create unique market opportunities.

The synthetic-biology industry consists of three main sets of technologies and products: enabling, core and enabled. Enabling technologies and products drive the development of the synthetic-biology industry. Core products and technologies—standardized DNA parts, synthetic genes and chassis organisms—are the key tools by which cellular factories and systems produce enabled products.

The global synthetic-biology market, which reached nearly $3.9 billion in 2016, should total $11.4 billion by 2021, growing at a five-year compound annual growth rate (CAGR) of 24.0% through 2021. Enabled products, the largest segment, should reach over $8.3 billion in 2021, up from $2.8 billion in 2016, demonstrating a five-year CAGR of 24.4%. Core products, which reached $311.5 million in 2016, should grow to $1.1 billion in 2021 at a five-year CAGR of 30.0%.

Synthetic biology has established itself as an important discipline within the life sciences industry. While it has enormous potential for future applications, synthetic biology faces significant near-term commercial opportunities. And, the list of new products and applications is growing. Applications include specialty chemicals, enzymes, synthetic genes and cells, as well as pharmaceuticals, agricultural seeds, vaccines, biofuels and chassis microorganisms.

Enabled products, the largest segment of the market, are expected to achieve high growth, including in the fields of drugs, vaccines, bio-based chemicals, genome-edited crops and renewable fuels. A trend toward higher-value specialty products, such as performance chemicals, flavors and fragrances, drug/therapies and novel crop traits, are driving growth in this segment.

Core products, which owns the highest five-year CAGR (30.0%) among segments, is  growing due to increased demand for synthetic genes, the rise of synthetic-biology foundries and efforts by organizations including the BioBricks Foundation, DIYbio and SynBERC to develop and apply DNA constructs.  Enabling technologies as a segment continues to innovate, for example in the fields of gene synthesis and genome editing. Innovations in enabling technologies support the development of core products and enabled products

"New genome-editing technologies, including cluttered regularly interspaced short palindromic repeats (CRISPR) and transcription activator-like effector nuclease (TALEN) systems, are significantly impacting the industry,” says BCC Research analyst John Bergin. "The agriculture industry is projected as a high user of synthetic-biology products. In particular, genome editing is forecast to become a key tool for creating novel seeds due to its ease of use and non-GMO designation by regulatory authorities."

Synthetic Biology: Global Markets (BIO066D) characterizes and quantifies the synthetic-biology-product market potential by product type and end-use market segments. The report also examines market applications, industry structure, competitive dynamics, and key strategic alliances and acquisitions. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.

About BCC Research BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com . Follow BCC Research on Twitter at @BCCResearch .

Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.