Synthetic Biology Market: Growth, Size, Share, and Trends

The research study involved the wide use of secondary sources, directories, and databases to identify and collect valuable information for the analysis of the global synthetic biology market. Extensive interviews were conducted with various primary participants, including key industry members, subject-matter experts (SMEs), C-level managers of leading market players, and industry consultants, to obtain and verify qualitative and quantitative information and evaluate the growth scenarios of the market. The global market size is estimated through secondary research (top-down and bottom-up) followed by data triangulation with inputs from industry experts to arrive at the final market size.

Secondary Research

Secondary research was used mainly to identify and collect information for the technical, market-oriented, and commercial study of the synthetic biology market. The secondary sources used for this study include World Health Organization (WHO), Organisation for Economic Co-operation and Development (OECD), Lens.org, National Center for Biotechnology Information (NCBI), Imperial College Centre for Synthetic Biology, Institute of Systems & Synthetic Biology (iSSB), University of California San Francisco (UCSF), Center for Systems and Synthetic Biology, Synthetic Biology Leadership Council (SBLC), Engineering Biology Advisory Committee, Synthetic Biology Engineering Research Center (SynBERC), Biotechnology and Biological Sciences Research Council (BBSRC), Helmholtz Association of German Research Centres, Asian Synthetic Biology Association, World Bank, Academic Journals and Company Websites, corporate & regulatory filings, such as annual reports, SEC filings, investor presentations, and financial statements; business magazines & research journals; press releases; and trade, business, and professional associations among others. These secondary sources were also used to obtain major information about key market players, and market segmentation corresponding to industry trends, regional/country-level markets, market developments, and technology prospects. Secondary data was collected and analysed to arrive at the market size of the global synthetic biology market, which was further validated through primary research.

Primary Research

Extensive primary research was conducted after acquiring basic knowledge about the global synthetic biology market scenario through secondary research. Several primary interviews were conducted with market experts from the demand side, such as pharmaceutical & biopharmaceutical industries from the supply side, such as C-level and D-level executives, product managers, marketing & sales managers of key manufacturers, distributors, and channel partners. The primary interviews were conducted across six major regions, including the North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Approximately 70% and 30% of the primary interviews were conducted with supply-side and demand-side participants, respectively. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.

The following is a breakdown of the primary respondents:

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Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the synthetic biology market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

Data Triangulation

After arriving at the market size from the market size estimation process explained above, the total market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.