Gene Synthesis Service Market Size, Trends & Growth Forecast
The gene synthesis service market, valued at approximately USD 585 million in 2023, is expected to expand significantly, reaching USD 3,138.64 million by 2034 with a projected compound annual growth rate (CAGR) of 16.5% from 2024 to 2034. Market growth is driven by the rising prevalence of chronic disorders, increasing demand for genomic solutions, and robust research and development initiatives.
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Gene Synthesis Service Market: Genomic Innovations
Gene synthesis is the process of chemically synthesizing a strand of DNA, RNA, and other oligonucleotides base-by-base. A DNA sequence can be synthesized, including sequences that do not exist in nature or generate variants of naturally occurring sequences. Researchers employ synthetic genes to investigate a wide range of biological functions that nucleic acids perform, including mediating cell-cell communications, encoding proteins, controlling gene expression in the nucleus, and forming biofilms from extracellular DNA. Gene synthesis services refer to providing custom-cloned gene sequences for optimal protein expression. The services save researchers time and allow researchers to focus on functional studies.
The rising incidences of chronic disorders like cancer and viral and infectious diseases drive the market. Gene synthesis techniques are used to engineer, detect, and identify genomes of these disorders. Also, newly identified viral genomes can be synthesized for vaccine development. Additionally, the growing research and development activities and increasing investments in biotechnology boost the market.
Gene Synthesis Service Market Trends
- In January 2024, Twist Bioscience Corporation announced the expansion of Twist Express Genes, a new leading gene synthesis service including larger DNA preparations of up to 1 milligram. They offer rapid gene synthesis at all gene prep scales for pharmaceutical, biotechnology, academic, and industrial chemical researchers.
- In December 2023, Evonetix Ltd., the company developing semiconductor scale technology to improve access to gene synthesis, announced the signing of a joint development agreement and commercial supply agreement with Analog Devices, Inc.
- In January 2024, Elegen announced a collaboration and licensing agreement with GSK to use Elegen’s proprietary cell-free DNA manufacturing technology to develop GSK’s vaccines and medicines. The agreement provides Elegen with up to $35 million in near-term financial and development support and fees and a potential equity investment by GSK.