Artificial Intelligence
Global Synthetic Biology Market Is Projected to Grow at a CAGR of 25.52% by 2032: Visiongain Reports Ltd
Visiongain has published a new report entitled Synthetic Biology 2022-2032. It includes profiles of Synthetic Biology and Forecasts Market Segment by Product Type (Application Product Type, Technology Product Type), Market Segment by Technology (Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Cloning, Site-Directed Mutagenesis, Measurement & Modeling, Microfluidics, Nanotechnology and Other Technologies), Market Segment by (Medical & Pharmaceutical Applications (Drug Discovery and Therapeutics (Cancer Detection & Diagnostics and Other Drug Discovery and Therapeutic Applications),Artificial Tissue & Tissue Regeneration (Bio-Synthesis, Stem Cell Regulation, and Other Artificial Tissue and Tissue Regeneration Applications)), Industrial Applications (Biofuel and Renewable Energy, Industrial Enzymes (Textile Industry, Paper Industry, and Other Industries), and Biomaterials & Green Chemicals), Food & Agriculture, Environmental Applications (Bioremediation and Biosensing), and Other Applications), plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The global synthetic biology market was valued at US$13.8 billion in 2021 and is projected to grow at a CAGR of 25.52% during the forecast period 2022-2032.
Increasing Biofuel Demand Expected to Boost Revenue Growth of Synthetic Biology Market
The rise of the synthetic biology sector will be driven by increasing demand for biofuel as a result of the global energy crisis, depletion of fossil resources, and growing pollution. Recent advancements in synthetic biology are paving the way for the production of fourth-generation biofuels, which will utilise microorganisms/crops that have been deliberately created as feedstock. Increased worldwide per capita energy consumption due to rapid industrialization, combined with an increase in global population, is predicted to drive synthetic biology applications in the energy sector.
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How has COVID-19 Pandemic Impacted the Global Synthetic Biology Market?
During the COVID-19 pandemic, the market saw a slight slowdown in growth due to reduced manufacturing, which was followed by a lockdown and a labour scarcity. Prices were higher than usual. The synthetic biology market, on the other hand, has a positive impact on the market due to rising demand for vaccine, therapeutic, and diagnostic innovation. This has a substantial impact on the income of the market under consideration. The continuing research into COVID vaccines and medications propels market growth. Pharmaceutical and biopharmaceutical organizations, as well as synthetic biology industry participants, have stepped up to support global research efforts by developing synthetic biology for the production of coronavirus test kits, treatments, and immunizations. Synthetic biology is mentioned in a European Parliament report as one of the emerging technologies. It is capable of combating the COVID-19 pandemic. The National Institute of Health in the United States has also proposed synthetic biology as a method for accelerating vaccine development. Synthetic biology technologies have the potential to change the research and manufacturing of vaccines, medications, and diagnostics by utilising engineering approaches based on a variety of data. Vaccine technologies based on DNA and mRNA, for example, can simplify vaccine development and production. These vaccines are composed of synthetic nucleotide strands that enable proteins to grow in the individual’s own cells, thereby eliciting an immune response. Vaccination candidates can be created fast as a result of the availability of viral sequencing data. As a result, businesses such as Moderna and Inovio have been able to move fast into clinical development. These factors have positively influenced the synthetic biology market.
How Will This Report Benefit you?
Visiongain’s 985-page report provides 355 tables and 710 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global synthetic biology market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Synthetic Biology. Get financial analysis of the overall market and different segments including type, process, upstream, downstream, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing synthetic biology market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Rising Demand for Enzymes from Numerous End-Use Sectors
Enzymes have several applications in research and biotechnology, and they are employed in a wide range of end-use industries such as food and beverage, industrial, pharmaceutical, and so on. While performing quick chemical processes, enzymes such as dismutase, anhydrase, protease, elastase, catalase, and tyrosinase are extensively used in cell biology. Furthermore, growing paper usage in the packaging industry due to multiple environmental concerns, paired with its ease of use and lightweight, is expected to drive product demand in paper and pulp manufacturing. Rising pharmaceutical demand, significant research efforts, and strong financing initiatives are expected to drive demand for synthetic biology in the future years.
Increase in Research Activities for Synthetic Materials and Products
Shifting production trends toward materials derived from natural plants such as essential oils, rubber, culinary flavors, and fragrances, will aid in the growth of the biology research & development firms. Furthermore, increasing research activities for these products using synthetic biology technologies and engineering tools in order to build, generate, redesign, or transform live beings, genetic materials, and biological systems. In turn, increasing research activities are expected boost the business growth opportunities for this market.
Where are the Market Opportunities?
Surging demand for synthetic biology due increasing drug discovery and therapy.
The constant application of synthetic biology in the disciplines of drug discovery, pharmaceuticals, and therapies is advancing biomedicine progress by allowing for improved manufacturing capacity of various treatments while reducing waste levels. This is an important factor that will boost prospects for future industry growth in the global synthetic biology market. Furthermore, various industries, including healthcare, food and beverage, and others, are increasingly embracing synthetic biology for a wide range of applications aimed at improving goods and processes. This surge in demand is also predicted to drive revenue growth in the worldwide synthetic biology industry over the next ten years.
Shifting Adoption Trends Toward Alternative Fuels Expected to Fuel Market Growth
Biofuels are becoming more essential as fuel usage grows and rising concerns towards energy security are increasing. Nearly more than 130 billion tonnes of biomass are produced globally each year. Currently, biofuels are produced from food commodities such as corn, vegetable oils, and sugarcane. As a result, synthetic biology techniques are being increasingly commonly applied in the creation of renewable energy.
Competitive Landscape
The major players operating in the synthetic biology market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Merck KGaA, Genscript Biotech Corporation, Precigen Inc., Synthetic Genomics (Viridos), Ginkgo Bioworks, New England Biolabs, Danaher Corporation, Twist Bioscience Corp., Codexis, Inc., Amyris Inc., GRO Biosciences, Synlogic and ElevateBio. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- On April 2022, Thermo Fisher Scientific has introduced the new Gibco CTS TrueCut Cas9 Protein, which is made in accordance with GMP standards. TrueCut Cas9 proteins are produced in accordance with US Pharmacopeia standards, including traceability documentation, aseptic manufacturing, and safety testing.
- In January 2021, Novozymes introduced Frontia GlutenEx. It would assist wheat processors in increasing gluten protein recovery while reducing energy usage..
- In January 2021, Merck acquired AmpTec (Germany). As a result of this acquisition, the company expanded its product portfolio by creating and manufacturing mRNA for use in immunizations, treatments, and diagnostics.
- In February 2021, Merck collaborated with BioNTech (Germany) to supply lipids for the Pfizer-BioNTech COVID-19 Vaccine (BNT162b2).
To find more Visiongain research reports on the Pharma sector, click on the following links:
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About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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Artificial Intelligence
Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website
LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.
“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.
By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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Artificial Intelligence
IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility
BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.
Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com.
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