Synthetic biology is a broad term that carries a few definitions. Generally, it’s considered to be a field of science that involves the construction and use of biological components that do not exist in nature. The process has enormous potential in transforming medicine, food, and materials. As such, the industry is primed for remarkable growth. Valued at $9.5 billion in 2021, BCC Research estimates the market will reach $33.2 billion by 2026, at a CAGR of 28.4%.
There are several key reasons for the market’s expansion. First, many of the applications for synthetic biology have large addressable markets with a modest penetration rate. As these penetration rates accelerate, the industry will experience explosive growth. Second, exciting new technologies are driving high levels of innovation within the industry. Some examples include ultra-high-throughput screening platforms for organism design, enzymatic DNA synthesis and novel gene-editing platforms. Third, the industry is focusing on value-added products, placing less emphasis on cost-sensitive, commodity products.
With a promising future ahead, BCC Research has, in no particular order, broken down the top ten market players in synthetic biology.
The leading companies in synthetic biology
Agilent is a spin-off of Hewlett-Packard, otherwise known as HP, and is a company that manufactures and markets testing and measurement products. With a core focus on providing next-generation sequencing workflow tools, Agilent enjoyed revenues of $5.3 million in 2020.
2. Amyris
Founded in 2003 at the University of California, Amyris is developing and commercializing a synthetic biology platform for the production of specialty chemicals. The company developed its Hyper-integration for rapid yeast strain engineering (Hi-Ryse) platform, which allows it to design, engineer, optimize and scale up synthetic biology-developed organisms for industrial fermentation.
3. Codexis
Codexis is a protein-engineering company involved in multiple industries, including pharmaceuticals, fine chemicals, biotherapeutics, food and beverage, and agriculture. Codexis is focused on a synthetic biology platform that can develop enzymes for specialized purposes. Code Evolver, the company’s platform, creates libraries of gene variants encoding biocatalysts with novel functions.