PatSnap, which provides intelligence and trend analysis to the innovation sector, has published its latest report on the synthetic biology market
Synthetic biology is one of the world’s fastest growing fields of science, with applications across chemicals, pharmaceuticals, energy, biotech and agriculture. Looking at the IP data of modern innovators in the Synthetic Biology industry reveals how this market, its players and their technologies are evolving.
With the global market size expected to reach US $38.7 billion by 2020, PatSnap’s report found that Microfluidics is the big trend to watch in this area of scientific innovation, accounting for the largest quantity of patent filings and lawsuits. This indicates that there are numerous opportunities for innovators to commercialise their inventions in adjacent markets, and for innovators in adjacent markets to catalyse progress in synthetic biology with their innovations.
The report also found that HP Inc., which specialises in technology products such as computers and printers, appeared in the top ten companies patenting around enabling technologies i.e. technologies that enable the rapid development of subsequent derivative technologies. The company only recently began accelerating filings in this area, with 2018 showing HP to exceed its filings compared to any other year. HP is an established innovator in printer technologies – a popular application area for microfluidics – and this activity from HP reflects its exploration into life sciences.