LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global gene synthesis services market to grow at a CAGR of nearly 17% during the period 2018-2022, according to their latest report.
The increasing focus on product and service innovation is one of the major trends being witnessed in the market. The intense competition in the global gene synthesis services market has encouraged vendors to focus on R&D to improve synthesis processes and procedures. Therefore, they are making significant investments in product innovation and development. Several vendors provide free codon optimization services that are clubbed with their product offering.
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In this report, Technavio analysts highlight the growing demand from academic research as a key factor contributing to the growth of the global gene synthesis services market:
Growing demand from academic research
The demand for gene synthesis services is increasing from academic research because of the tedious nature of gene preparation and the relative unimportance of the task in the context of the research study. Academic laboratory experiments involving genes require a steady supply of high-quality gene clones that may be tedious to prepare and use, particularly with limited resources.
According to a senior analyst at Technavio, “Gene synthesis services are a quicker alternative to traditional cloning. They ensure that all types of required constructs can be readily synthesized and sub-cloned into any plasmid vector, which allows researchers to focus on their research objectives. In addition, complementary deoxyribonucleic synthesis can be labor and cost intensive for academic researchers.”
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Global gene synthesis services market segmentation
This market research report segments the global gene synthesis services market into the following end-users (academic and commercial) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the academic segment held the largest market share in 2017, accounting for nearly 51% of the market. The market share for this application is expected to decrease nearly 1% by 2022. However, this segment will dominate the global market throughout the forecast period.
The Americas was the leading region for the global gene synthesis services market in 2017, accounting for a market share of almost 48%. The market share for this region is anticipated to decrease by nearly 2% through 2022. However, the Americas will dominate the global market throughout the period 2018-2022.
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