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Synthetic Biology Market Growth Prospects, Key Vendors, and Future Scenario

Posté le: Nov-10-2020 | vue (24) fois | Word Count article: 370 |

Think about a future where synthetic fish roam in rivers and other waterways, searching for germs to kill; where environment-friendly fuels and plastics are produced from yeast vats; where electronic systems repair themselves just like living beings do; and where viruses and other microbes are programmed to kill cancer cells.
According to the forecast of the market research firm, P&S Intelligence, the global synthetic biology market will grow at an explosive pace in the coming years. The factors propelling the advancement of the market are the soaring geriatric population, advanced and innovative applications of synthetic biology, rising support from several government organizations, ballooning research activities, and surging investments being made in research and development (R&D) activities pertaining to drug development and drug discovery all over the world.

Synthetic biology is basically an interdisciplinary domain that deals with the redesigning and fabrication of various biological components and systems that do not exist in the world around us. This interdisciplinary field focusses on the application of several engineering principles to biology. Synthetic biology helps researchers and healthcare professionals majorly in the study and development of advanced bio-products, biofuels, bio-based specialty chemicals, and in various applications of the healthcare industry.

The increasing geriatric population in several countries is pushing up the requirement for medicines which is, in turn, boosting the growth of the market. Additionally, many government organizations are making huge investments in the development of synthetic biology, thereby fueling the expansion of the market. In addition to this, these organizations are implementing various initiatives for promoting applied and basic research and also providing funding for R&D activities required for the development of synthetic biology.

When application is taken into consideration, the synthetic biology market is divided into energy, agriculture, pharmaceutical and diagnostic, R&D, and chemical. Out of these, the pharmaceutical and diagnostic category registered considerably high growth in the market during the past few years. Moreover, the category will exhibit huge advancement in the market in the upcoming years. Under this segment, the energy category will demonstrate rapid growth in the market in the future years.

Hence, it can be said with surety that the market will exhibit explosive growth all around the world in the forthcoming years, mainly because of the growing incidence of chronic diseases, increasing geriatric population, huge investments being made by many private and public organizations in synthetic biology research, and surging research and development (R&D) activities being conducted in synthetic biology across the world.

Source: P&S Intelligence

Source de l'article : Biology Market Growth Prospects, Key Vendors, and Future Scenario_1006.aspx

auteur ressource :
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Mots-clés : Synthetic Biology Market, Size, Share, Demand,

Catégorie : Accueil et Famille : Accueil et Famille

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