That’s pretty nifty technology if you ask me. Patricia Van Arnum, the blogger for Pharmtech.com finishes off her post by talking about synthetic biology’s market potential.
“The field of synthetic biology is still emerging, but market analysts are optimistic about its commercial potential. The global market for synthetic biology was $233.8 million in 2008, according to a June 2009 report by Business Communications Company (BCC), a Norwalk, Connecticut-based market research firm. This value is expected to increase to $2.4 billion in 2013, for a compound annual growth rate (CAGR) of 59.8%. Chemicals and energy represent the largest market segment for synthetic biology, which was valued at $80.6 million in 2008, and is projected to reach $1.6 billion in 2013, for a CAGR of 81.6%, according to BCC. The biotechnology and pharmaceuticals segment is the second-largest market sector, valued at approximately $80.3 million in 2008. This segment is projected to increase at a CAGR of 49.2% to reach $594 million in 2013, according to BCC.”
What could be a better way to end a blog post, than with hope for the future. That's it for now. See you next week.