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DNA Synthesis Market Trends

Report ID: GMI6000
Published Date: Aug 2024
Report Format: PDF

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DNA Synthesis Market Trends

Growing investments in biotechnology and life sciences research, propelled by government grants, private funding, and venture capital, has led to a surge in demand for DNA synthesis services and products.
In addition, companies and academic institutions are increasingly allocating resources to R&D activities aimed at advancing DNA synthesis technologies and applications, buoyed by the recognition of DNA synthesis as a fundamental tool across various fields further propelling the market growth.
For instance, in 2021, Molecular Assemblies received USD 25.8 million funding from Casdin Capital to enhance enzymatic DNA synthesis technology. Similarly, In March 2021, Twist Bioscience announced a USD 100 million private placement investment from several investors, including Casdin Capital, Fidelity Management & Research Company, and Viking Global Investors to advance their DNA synthesis platform.
Thus, the expansion of R&D investment is anticipated to continue driving the growth of the market, fostering innovation and addressing emerging challenges in diverse industries.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The DNA synthesis market was valued at USD 4 billion in 2023 and is projected to witness a 18.9% CAGR between 2024 to 2032, attributed to the advancements in synthetic biology and gene editing technologies.

Oligonucleotide synthesis service segment held 58% share of DNA synthesis in 2023 and will grow rapidly through 2032, due to its crucial role in various applications, including genetic testing, molecular diagnostics, synthetic biology, and gene editing.

North America DNA synthesis market held a revenue share of 36.5% in 2023 and is anticipated to record 18.4% CAGR through 2032, owing to the region

BIOMATIK, Bioneer Corporation, Eton Bioscience, Inc, Eurofins Scientific, GenScript Biotech Corporation, IBA Lifesciences GmbH, Integrated DNA Technologies, Inc. among others.