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Covid-19 news: Pandemic should drive global health reform, says report
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Covid-19 news: Concern over black fungus in covid-19 patients in India
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Synthetic Biology Market worth $ 11.00 Billion, Globally, by 2028 at 6.60% % CAGR: Verified Market Research
- Numerous applications of Synthetic Biology, a decrease in costs of DNA Sequencing and synthesizing, and elevating demand for synthetic genes and synthetic cells contribute as the primary drivers of the growth of the market
JERSEY CITY, N.J., May 11, 2021 /PRNewswire/ Verified Market Research recently published a report, Synthetic Biology Market By Product (Core Products and Enabling Products), By Technology (Gene Synthesis, Genome Engineering, Cloning, Sequencing, Site-Directed Mutagenesis & Others), By Application (Medical Application, Pharmaceuticals, Drug Discovery and Therapeutics, Artificial Tissue and Tissue Regeneration & Others), and by Geography. According to Verified Market Research, the Global Synthetic Biology Market was valued at USD 6.60 Billion in 2020 and is projected to reach USD 11.00 Billion by 2028, growing at a CAGR of 6.60% from 2021 to 2028.
Global Synthetic Biology Market Overview
Increasing demand of synthetic biology by Biotechnological and Pharmaceutical companies for research and development purposes contributes to the growth of this market. According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), over 149.8 Billion USD is spent on R&D per year by the pharmaceutical research-based industry. The application of Synthetic Biology techniques in drug discovery and development acts as a growth driver for the Global Synthetic Biology market. In 2015 witnessed the launch of 56 new pharmaceuticals products out of more than 7,000 compounds in development which includes the synthesis of new bio-based products. For instance, Cell-free systems were used to design biosynthetic pathways for the antiviral agent valinomycin.
May 8, 2021 Share
African nations have welcomed news that the U.S. supports a proposal to waive intellectual property protections for COVID-19 vaccines. But, they warn, the road ahead is long and full of obstacles.
Health experts and activists say the decision, announced this week by the U.S. trade representative, could save lives in parts of the world where the coronavirus pandemic continues to rage and vaccines are in short supply.
Fatima Hassan is director of the Health Justice Initiative, a South African group that advocates for equitable health care.
While Hassan said she welcomes U.S. support of the so-called “TRIPS” waiver it stands for “Trade-Related Aspects of Intellectual Property” she worries that the process is moving too slowly.
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