Synthetic Biology Market - Forecast(2020 - 2025)
Synthetic biology is an emerging area of biological research which combines both science and engineering. According to this research report from IndustryARC, the global synthetic biology market size was between $12.80 billion to $13.86 billion in 2018, and the market demand is projected to grow at a phenomenal CAGR of 36% to 38% during the forecast period of 2019 to 2025. North America is identified as the key region, chunking out 41% to 43% of the total demand in 2018 and poised to maintain its dominance. Factors such as increasing investment to harness possibilities with new synthetic biology technologies such as gene synthesis, genome engineering, cloning, sequencing, and nanotechnology, growing R&D funding, and collaborations are driving the growth of the synthetic biology market in this region. Synthetic Biology Market Outlook Analyst of the report says that, bio medicine and health care application is dominating among other diverse applications such as industrial, and env