Booming Geriatric Population Pushing Up Demand for Synthetic Biology Technology

1. Why is Global Demand for Synthetic Biology Solutions Skyrocketing? 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

2. The surging geriatric population in several countries is one of the major factors fueling the global demand for synthetic biology. As per the 2019 World Population Ageing report published by the United Nations Department of Economic and Social Affairs (UNDESA), the global population of people in the age group- 65 years or above will rise from 703 million in 2019 to 1.5 billion by 2050. This will create a huge demand for synthetic biology solutions in the future. Receive Sample Pages of this Report: https://www.psmarketresearch.com/market-analysis/synthetic- biology-market/report-sample Apart from the aforementioned factor, the increasing number of initiatives being implemented by various government organizations around the world are also fueling the demand for synthetic biology solutions. The National Science Foundation (NSF), the Centre for Chemical and Synthetic Biology (CCSB), the National Aeronautics and Space Administration (NASA), the International Association Synthetic Biology (IASB), and the Synthetic Biology Engineering Research Center (SynBERC) are some of the major government organizations allocating funds for the development of synthetic biology solutions. The surging investments being made in various research and development (R&D) projects for faster drug discovery and development are also propelling the demand for synthetic biology solutions across the world. Because of these factors, the global synthetic biology market is set for lucrative growth in the coming years. Between the synthetic biology technologies and tools, the demand for the former was found to be higher in the past years and this trend is likely to continue in the upcoming years. Make an Enquiry before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry- url=synthetic-biology-market When application is taken into consideration, the synthetic biology market is classified into pharmaceutical and diagnostic, chemical, energy, R&D, and agriculture. Out of these, the pharmaceutical and diagnostic category recorded the highest growth in the market during the past few years and it is predicted to exhibit huge market expansion in the upcoming years as well. However, in the forthcoming years, the energy category is predicted to demonstrate the fastest growth in the market. Globally, the synthetic biology market will exhibit rapid advancement in North America in the upcoming years, as per the forecast of the market research company, P&S Intelligence. This will be because of the rising incidence of chronic 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

3. diseases and the soaring population of geriatric people in the regional countries. In this region, the market is registering huge expansion in the U.S. currently and this trend is likely to continue in the upcoming years. The Asian market is also predicted to demonstrate rapid advancement in the years to come. One of the major trends currently being witnessed in the synthetic biology market is the increasing number of acquisitions and mergers being announced by the players operating in the market. Organizations are adopting these business strategies for several purposes such as expanding their operations and developing innovative and advanced products that will enhance their product range. Hence, it can be said with full confidence that the demand for synthetic biology technology will rise tremendously across the world in the future years, primarily because of the increasing geriatric population in several countries. Browse report overview and detailed TOC at Synthetic Biology Market: Industry Analysis and Growth 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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