Synthetic Biology Market to Witness the Highest Growth Globally in Coming Years

The increasing support from government organizations and growing geriatric population are playing a pivotal role in the growth of this market. Some of the major organizations include National Science Foundation (NSF), National Aeronautics and Space Administration (NASA), Centre for Chemical and Synthetic Biology (CCSB), Synthetic Biology Engineering Research Center (SynBERC), and International Association Synthetic Biology (IASB). These organizations are providing support in form of funding, and initiatives implemented by them for basic and applied research with their respective goals.

Additionally, the innovative and advanced applications of synthetic biology, increasing research activities, and increasing R&D investments in drug discovery and development are also supporting the growth of this market. However stringent regulatory requirements, expensive research procedures, and harmful effects of synthetic biology act as hindrance in the growth of the global market. The growing number of mergers and acquisitions is one of the latest trends observed in this market.

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