The gene synthesis market is estimated to account for US$ 20,122.3 Mn by the end of 2025, escalating at a CAGR of 28.7% during the forecast period from 2018 to 2025, rising from US$ 2,866.1 Mn in 2017. The rising numbers of start-up companies and increase in investments & funds for gene synthesis are the few factors that are expected to fuel the growth of global gene synthesis market. However, the lack of skilled professionals and long approval processes can be the restraint for the market in the forecast period. On the other hand, the increasing usage of gene synthesis in personalized medicine act like trend for the global gene synthesis market.
In the gene synthesis market, the services segment is expected to the fastest growing segment in the forecast period, by product & services. The services under gene synthesis such as DNA isolation, library preparation, sequencing, data analysis and biological interpretation of the results in a proper and easily read format. Various companies offer the services such as, Novogene provides the broad range of gene synthesis services for the wide range of sample types. Moreover, Eurofins Genomics is the first service provider in Europe that provides gene synthesis services with the help of Roche/454 GS20.
The academic & research institutes segment held the largest share of the gene synthesis market, by end user. The academic & research institutes are getting funds from the various organizations for betterment of gene synthesis. Additionally, many of the organizations have formed due to the partnerships between various organizations and universities for research in the transformation of scientific technologies to make the life-saving treatments for patients. For instance, TrinSeq, the Trinity Genome Sequencing Laboratory, present in Trinity Translational Medicine Institute (TTMI), Trinity College Dublin. Trinity Genome Sequencing Laboratory has an Illumina MiSeq, the gene synthesis platform for performing the ultra-high throughput genomics solutions.
The gene synthesis market was estimated through extensive primary and secondary sources that included a vast array of government authorized websites such as World Health Organization (WHO), National Institutes of Health (NIH), Research & Development (R&D), United Nations (UN), National Institute of Health (NIH) and others. The primary respondents included chair-holders and representatives of the demand and supply side for healthcare industries as well as medical professionals at various biopharmaceutical companies and research centers.