Asia Pacific Synthetic Biology Market
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Asia Pacific Synthetic Biology Market is expected to reach USD XX Billion by 2026 from USD XX Billion in 2018 at a CAGR of XX% (Detailed analysis of the market CAGR is provided in the report).
Synthetic biology is formed from the convergence between engineering and biology that allows development of genetically modified micro-organisms and plants. It enables to achieve an idea related to a product in a faster and cheaper way having greater precision as well. Synthetic biology as a concept allows the building of new biological systems that are naturally unavailable for uses across different end-use industries. The complex synthesis process can be applied across various levels of biological structures from cells to organisms. Fabrication of biological components with the help of DNA allows researchers to gain knowledge regarding genomics thereby leading them to manufacture cataloged DNA sequences. This can be later assembled into newer genomes by researchers for new development which can even be commercialized. Improvements in both speed, as well as cost for synthesizing modified bacterial chromosomes, are enabling scientists to produce advanced bio-products, biofuels and chemicals.
Synthetic Biology Market
Asia Pacific Synthetic Biology Market has been segmented on the basis of product, technology, application, and geography. Based on products the market has been segmented into enabling products and core products. Enabling products held a major market share with more researchers focused on developing new products using existent data and genomics. Demand has been pretty high for genetically modified products and organisms that may be able to cure present anomalies in healthcare and other industries. Government funding has further helped research organizations to come with more commercially viable projects that may help in the long-term sustainability of the human population. On the basis of technology, the market for synthetic biology has been segmented into genome engineering, DNA sequencing, bioinformatics, biological components and integrated systems among others. Genome engineering formed a dominant segment with factors such as increased emphasis on the development of commercially viable biological systems through modification in labs acting as a major driver for this segment. Considering the application segment healthcare and chemicals both have formed two major segments of this market. Agriculture has also seen high growth rate during the last few years in terms of synthetic biology applications. It is also seen that growing research for the development of commercially viable products has further helped in the commercial application of synthetic biology across different end-use industries.
China, India, and Japan have formed a few major countries in the Asia Pacific that has contributed to the overall growth. The Asia Pacific has seen huge investments in the last few years with large-scale foreign investment focused on developing genetically modifies crops, chemicals, and organisms that may also have the power to treat certain terminal diseases. All these factors along with growth in government funding for boosting research sector especially in the biological sector has helped in the overall growth of the synthetic biology market in the Asia Pacific.
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Target City : Pune
Last Update : Feb 14, 2020
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|Item Owner : Manisha Kashid|
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