Bio-manufactured products can cover 70% of chemically-manufactured products and continue to extend the boundaries. The global synthetic biology field is expected to grow rapidly:
The economic impact of synthetic biology and biomanufacturing is expected to reach $100 billion by 2025;
In 2018, the global synthetic biology market has reached $4.96 billion, and it is expected to exceed $40 billion(260 billion RMB) by 2027, with a compound annual growth rate (CAGR) of 26.3%;
By 2027, the synthetic biology market size will reach $30.3 billion, with a compound annual growth rate of 23.6%;
The compound annual growth rate (CAGR) of the synthetic biology industry from 2017 to 2022 is 26.0%.
- Data source McKinsey, Transparency Market Research, Data Bridge Market Research and BCC Research