Gene synthesis involves the chemical or enzymatic assembly of long strands of DNA ranging from several hundred to several thousand base pairs in length. It is widely used for various biological studies and engineering applications such as molecular cloning, generating enzyme variants, genomics and drug development. Gene synthesis saves time and cost for research institutions and biotechnology companies as it does not require extraction of DNA from organisms. The global gene synthesis market is estimated to be valued at US$ 2.49 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The growing field of personalized medicine offers a major market opportunity for Global gene synthesis market size. Personalized medicine involves tailoring medical treatment to an individual's characteristics, needs or biomarkers. It helps determine appropriate prevention strategies and therapeutic interventions based on an individual's predicted response or risk of disease. With advancement in technologies such as gene sequencing and synthesis, it is now possible to design customized treatments for specific genetic mutations or variants. Gene synthesis finds application in developing personalized therapies that target unique mutations found in a patient's genome. The demand for gene synthesis from biopharmaceutical companies and research institutes is expected to significantly rise with growing adoption of personalized medicine approach in diagnosis and treatment of various diseases.

Porter's Analysis

Threat of new entrants: Low economies of scale in the production process make entry difficult. Patent protection and contracts with customers increase entry barriers.

Bargaining power of buyers: Large pharmaceutical and biotechnology companies have significant buyer power due to their size and purchasing capabilities.

Bargaining power of suppliers: Suppliers of raw materials and key instruments have some power given their technical expertise required.

Threat of new substitutes: Threat is moderate as gene therapies and other drug discovery methods can substitute gene synthesis services for some applications.

Competitive rivalry: Intense as major players compete on price, innovation, and customer service to gain market share.

SWOT Analysis

Strengths: Growing research in genomics and synthetic biology drives demand. Technology advances lower production costs.

Weaknesses: High capital requirements are a barrier for small players. Regulatory oversight adds complexity and risk.

Opportunities: Emerging markets represent future growth areas. Expansion into gene editing, therapy, and vaccine development provides opportunities.

Threats: Slow regulatory approvals delay product developments. Ethical issues may reduce social acceptance in some fields.

Key Takeaways

The global Gene Synthesis Market is expected to witness high growth over the forecast period. The market is dominated by North America currently due to large research spends and presence of major companies. However, Asia Pacific is poised to grow at the fastest pace led by China, India, and other emerging economies.

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