DUBLIN--(BUSINESS WIRE )--The "Synthetic Biology - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Synthetic Biology Market to Reach $36 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Synthetic Biology estimated at US$6.4 Billion in the year 2020, is projected to reach a revised size of US$36 Billion by 2027, growing at a CAGR of 28.1% over the analysis period 2020-2027. Oligonucleotides & Synthetic DNA, one of the segments analyzed in the report, is projected to record a 29.5% CAGR and reach US$16.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Enzymes segment is readjusted to a revised 27% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.5 Billion, While China is Forecast to Grow at 32.4% CAGR
The Synthetic Biology market in the U.S. is estimated at US$2.5 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$3.8 Billion by the year 2027 trailing a CAGR of 32.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 26.3% and 27.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 29.3% CAGR.
Cloning Technology Kits Segment to Record 26.8% CAGR
In the global Cloning Technology Kits segment, USA, Canada, Japan, China and Europe will drive the 26.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$939.9 Million in the year 2020 will reach a projected size of US$4.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900