Synthetic Biology Market Booming as Technologies Advance - Exclusive Report by MarketsandMarkets™
Synthetic biology is a rapidly growing field with applications across numerous industries. It is an interdisciplinary branch of biology that combines science and engineering to design and create new biological systems. The global synthetic biology market was valued at $ 11.4 billion in 2022 and is expected to reach $ 35.7 billion by 2027, growing at a compound annual growth rate (CAGR) of 25.6% during the forecast period. The growth of the market is attributed to an increasing demand for synthetic biology-based products, such as vaccines, enzymes, and drugs. Additionally, the rise in research and development activities in the field of synthetic biology and advancements in synthetic biology platforms are expected to drive the market growth. Furthermore, investments by government and venture capitalists in this field are also expected to fuel the market growth. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=889 The market is segmented on the...