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Asia Pacific Synthetic Biology Market is bound to Exhibit Comprehensive Growth - Market Data Forecast

The growth for Asia-Pacific Synthetic Biology Market is driven due to factors like increasing investments for R&D activities ......
Zain Ahmed | 15.10.2018
Market Data Forecast © Zain Ahmed
Overview:

In the year 2018, Asia-Pacific Synthetic Biology Market was valued at USD 1.17 Billion. By the year 2023, it is expected to reach USD 3.95 Billion at pace of 26.8% CAGR.

Synthetic biology is a combination of various disciplines, such as biotechnology, molecular biology, biophysics, genetic engineering and biotechnology. This technology is mainly used in the medical and pharmaceutical industries for the manufacture of drugs and biological systems. Synthetic biology offers many possibilities in the healthcare sector, such as DNA sequences, natural biological systems and reconstruction of highly complex pathways. This technology is also used in a variety of applications, such as biological-based chemicals, synthetic biology, research in the biological sciences, vaccine and antibody production, and industrial enzymes.

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Underlying Causes

The growth for Asia-Pacific Synthetic Biology Market is driven due to factors like increasing investments for R&D activities by pharmaceutical and biotechnology companies, growing demand for genetically modified crops, increasing focus on creating clusters of genes, and rising popularity for biofuels and protein therapeutics. In addition, advancement of technologies, and introduction of innovative medical therapeutics is expected to drive the market growth. However, ethical concerns regarding the biosafety and biosecurity and stringent regulations are expected to hinder the growth rate for Asia-Pacific Synthetic Biology Market during the forecast period.

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Geographic Segmentation:

Based on geography the Asia-Pacific Synthetic Biology Market has been primarily divided into China, India, South Korea, Japan and Australia. Asia-Pacific is the fast growing market due to increasing collaborations with western companies in China, growing awareness about Synthetic Biology, and increasing investments for R&D activities are expected contribute high growth rate for Asia-pacific Synthetic Biology Market during the forecast period.

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Key Players:

Leading companies for Asia-Pacific Synthetic Biology Market are Dupont, Intrexon Corporation, Amyris, Inc., Genscript USA, Inc., Integrated Dna Technologies (IDT), Inc., Novozymes, Royal DSM N.V, New England Biolabs, Inc., Synthetic Genomics, Inc. and Thermo Fisher Scientific, Inc.

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