Synthetic biology market to rise at a 25.6% CAGR until 2027

The global market is expected to grow by $28.25m within the forecast period.

The global synthetic biology market is projected to grow by $28.25m at a compound annual growth rate of more than 25.6% until 2027.

A report by Technavio revealed that the market is driven by the growing application of synthetic biology, along with the rising demand for synthetic genes and cells.

However, the complexity of biological systems and the lack of comprehensive understanding serve as challenges inhibiting the market’s growth.

ALSO READ: Injectable drug delivery market poised for 8.6% CAGR growth until 2029

In the Asia-Pacific (APAC) region, most countries lack clear regulations to define synthetic biology, its applications, and its uses.

The report mentioned that this evolving regulatory landscape is critical for the global market to foster investment, innovation, and product safety.