Synthetic biology is the process of designing and constructing novel biological systems that are used in various applications. The construction of these chemical is performed through recombinant DNA technology. The global genomics market is the parent market for synthetic biology that was valued at approximately $11.11 billion in 2013. The global synthetics market is growing, as demand for live feedstock of GM (Genetically Modified) food is increasing with increase in population. The consumption of genetically modified food increased to 30,000 GM food products in the U.S. in 2013.
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The growth for synthetic biology market is deterring due to stringent government policies as the final products manufactured by these procedures are facing ethical issues. For Example, Terminator seeds are not utilized from the crop of previous year. This will affect 1.4 billion farmers who relied on previous crops.
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The challenges faced by synthetic biology market are related to genetic modification and monopoly in some markets such as agriculture. Hence, to overcome these challenges, governments are taking initiatives by issuing regulatory guidelines and reimbursement policies. For Example, the Environmental Protection Agency (EPA), The Food and Drug Administration (FDA), and The U.S. Department of Agriculture (USDA).are regulating transgenic crops markets in United States. This report provides market intelligence of regulatory and ethical issues.
Table Of Content
CHAPTER 1 INTRODUCTION
1.1 Report description
1.2 Key Benefits
1.3 Reason for doing the study...