In recent years, gene synthesis services have attracted huge attention from researchers on the account of customer service offerings with cost-efficient quality and pricing. Custom services aid in reducing errors and unwanted genes, which eventually save the researcher’s time.
Key service providers operating in the gene synthesis market provide an exclusive scope of service offerings such as express gene synthesis (offer gene synthesis service in 3-4 business days), standard gene synthesis, complex gene services (offer service for project requirement), and custom gene services. With a range of applications, gene synthesis services also provide several therapeutics, diagnostics, and R&D activities.
Future Market Insights (FMI), in its recently published study, forecasts that the gene synthesis market will experience a major upturn post-2025, crossing a valuation of US$ 1 Bn in the same year.
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“Increased requirement for biopharmaceutical and genomic research company’s focus on the manufacturing of genomic medicine have directed key market players to provide customized and efficient gene synthesis service provisions,” says the FMI analyst.
Key Takeaways of Gene Synthesis Market Study
- Gene synthesis services continue to witness higher adoption than gene fragment services and GMO gene synthesis, accounting for over 45% of the total revenue.
- On account of low service demand and cost, standard gene synthesis is highly preferred among end-users.
- Research & development activities remain a key application area, as researchers majorly prefer gene synthesis services over other services for their projects.
- Academic & research institutes emerge as top end users and are anticipated to contribute over 50% to the total market value during the forecast period (2019-2029).
- North America is the biggest revenue generating market, in the view of sophisticated and well-established service laboratories.
- East Asia is likely to provide more lucrative prospects for market players, owing to rising healthcare plans which fund genomic research.
Acquisition Remains Key Strategy for Leading Market Players
Leading stakeholders in the gene synthesis market are centering on the acquisition of regional market players to heighten their product portfolio and increase their regional existence. For example, in August 2019, Eurofins Scientific elaborated its gene synthesis capacities with the acquisition of Blue Heron Biotech. In addition, in January 2018, Eurofins amplified its footprint in Asia with the acquisition of Tsing Hua in Taiwan.
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Market Players to Address Molecular Services for Competitive Edge
While the gene synthesis market comprises of various small- and large-scale players, there are restricted companies entirely concentrated on offering molecular services. Continuing the only center on molecular services amends the quality of service, customer loyalty, in addition to an established distribution network that ensures product availability, worldwide. Research & development expenditure on life sciences has been soaring and is likely to expand stably in the forthcoming years. Participants investing in delivering molecular diagnostics services to provide to research prerequisites would be well placed for outsized returns.
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