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According to a new report from BCC Research, the global synthetic biology market is expected to grow to nearly $11.9 billion in 2018, with a five-year compound annual growth rate (CAGR) of 34.4%. Enabled products account for the fastest growing segment, with anticipated $9.7 billion in 2018 and 36.7% CAGR.
Wellesley, Mass. (PRWEB) July 14, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, SYNTHETIC BIOLOGY: GLOBAL MARKETS, the global synthetic biology market is expected to grow to nearly $11.9 billion in 2018, with a five-year compound annual growth rate (CAGR) of 34.4%. Enabled products account for the fastest growing segment, with anticipated $9.7 billion in 2018 and 36.7% CAGR. Synthetic biology-enabled products in the pharmaceutical/diagnostics, chemical, energy, and agricultural industries compose the bulk of this market segment.
Synthetic biology is an emerging biotechnology discipline with a wide range of applications. While there is enormous potential for future applications, it has a significant number of near-term commercial opportunities, and the list of new products and applications is continuously growing.
Enabling products play a key role in the synthetic biology industry. Enabled products, the largest market segment, accounted for a value of $2.0 billion in 2013 and is expected to grow at a CAGR of 36.7% to reach a forecasted value of nearly $9.7 billion in 2018. Synthetic biology enabled products in the pharmaceutical/diagnostics, chemical, energy, and agricultural industries compose the bulk of this market segment. Enabling technologies and products are the engine that drives the development of the synthetic biology industry.
The recent use of microfluidics to synthesize DNA in a massively parallel fashion will significantly improve the ability to manufacture biologic parts in the future, says BCC Research analyst John Bergin. Products enabled by synthetic biology tools pharmaceuticals, diagnostics, chemicals, biofuels, and agricultural have large downstream market potential. Each of these downstream markets is worth tens of billions of dollars annually.
SYNTHETIC BIOLOGY: GLOBAL MARKETS examines the dynamic synthetic biology industry, including its technologies and global markets, and the leading companies in each of the market segments. Key synthetic biology technologies and products are used to determine present and future market status, and forecasted growth from 2013 through 2018.
In addition, discussion on strategic alliances, industry structures, competitive dynamics, patents, and market driving forces are also included, along with markets as per end-user segment (R&D, diagnostics and pharmaceuticals, energy, chemicals, and agriculture) and product type (enabling products, biologic components, integrated systems, and enabled products).
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven(dot)cumming(at)bccresearch(dot)com.
About BCC Research:
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years, we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world, as well as universities, business schools, start-ups, consulting firms, and investment companies. BCC Research is a unit of Eli Research LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern time), or email information(at)bccresearch(dot)com.
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC
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