Synthetic Biology Market is Expected to Gain Popularity Across the Globe by 2026

The Global Synthetic Biology Market size is estimated to be valued at US$ 6.09 billion in 2018, and is expected to witness a CAGR of 33.9% during the forecast period (2018–2026).

Increasing concerns regarding depleting natural resources of oil reservoirs is propelling demand for replacement for fossil fuels. Biofuel production is increasing steadily with promising results. Furthermore, rising concerns regarding climate change and energy security makes biofuel an efficient alternative for fossil fuels. In this context, synthetic biology has shown promising result for biofuel production. Synthetic biology approaches can be used in reducing cost of celluloses and, thereby, of biofuels. Moreover, various companies are engaged in collaboration and partnership activities to use their expertise in the synthetic biology to produce cost-efficient biofuels.

Growing adoption of synthetic biology in emerging applications such as genetically modified crops (GMCs) in agriculture, green chemicals, and biofuels in the industrial applications will offer lucrative growth opportunity in the near future.

Market Dynamics

Furthermore, growing research and development (R&D) activities to develop new technologies in synthetic biology by government and private organizations and increasing demand for efficient alternative therapy to design and market active pharmaceutical ingredients (APIs) in drug diagnosis and therapeutics are other growth factors, which will drive the synthetic biology market growth.

Synthetic biology is majorly used in applications such as bioremediation, gene synthesis, industrial enzyme production, drug discovery, therapeutics, and green chemicals, among others. However, utilization of these applications is increasing concern regarding the risk and ethical issues associated with synthetic biology, which include off-target mutation development, environmental misbalance, and various other illegal usage of DNA sequencing.

Among geographical region, Asia Pacific is expected to show conducive environment for growth of the synthetic biology market, owing to expanding healthcare infrastructure, rising concerns related to fuel consumption, growing government support, and engagement of key players in this region.

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For instance, in June 2018, National Research Foundation (NRF) funded an amount of US$ 25 million for five-year national synthetic biology R&D program, under the leadership of Prof Chua Nam Hai: a renowned expert in plant biology and biotechnology; to bring advancement in synthetic biology research in Singapore. In September 2018, Thermo Fisher Scientific initiated to sell its portfolio of Invitrogen GeneArt products and services, including gene synthesis and genome editing products in China.

Key players operating in the global synthetic biology market includes Thermo Fisher Scientific Inc., Twist Bioscience Corporation, Genscript Biotech Corporation, Codexis, Inc., Amyris, Inc., Danaher Corporation (Integrated DNA Technologies, Inc.), EnBiotix, Inc., Evonetix Ltd., Ginkgo Bioworks, Inc., and Prokarium.

Breast Lesion Localization Methods Market: Worldwide Top Players Revenue and Forecasts To 2026

Breast lesion localization methods are invasive or non-invasive techniques used to observe if lesions are palpable or non-palpable, as part of diagnosis of breast cancer. There are various types of breast lesion localization methods used globally to detect the abnormalities in terms of a lump or tumor in the breasts. Rampant increase in number of women opting for preventive screening tests for breast cancer creates a highly conducive environment for growth of the breast lesion localization methods market in the foreseeable future. Click To Read More on Breast Lesion Localization Methods Market

Among various methods under breast lesion localization methods, radio occult localization lesion localization (ROLL) method is one of the fastest growing segments in terms of revenue share, which in turn is expected to underpin growth of the breast lesion localization methods market in the near future. ROLL is a precise method for early detection of breasts lesion, which includes three-dimensional localization of impalpable breast tumor in the body. It provides a unique advantage of high feasibility in connection with sentinel node biopsy in the same setting.

Market Dynamics

Rapid strides made in technology and keen interest of healthcare providers to integrate cutting-edge solutions backed up by supportive government norms is fueling growth of this highly lucrative market, especially in developed regions. Furthermore, rise in prevalence of breast cancer globally, especially in Asia Pacific countries would inadvertently support market growth in the near future. In order to alleviate this spike in incidence rate of the malady, governments are focusing on strengthening the healthcare infrastructure through supportive regulatory norms and investments.

Government and non-government organizations are actively focusing on developing awareness programs regarding breast cancer. Such initiatives are projected to bring about a rapid shift in market dynamics, with Asia Pacific taking on the mantle from North America to emerge as the largest market for breast lesion localization methods. According to The Economist Intelligence Unit Limited, in 2016, China had a comparatively low breast cancer burden by world standards, with 2012 age standardized ratio for incidence and mortality around 22.1 and 5.4 per 100,000 respectively. However, in India breast cancer incidence by global standards in 2012 age standardized ratio was around 25.8 per 100,000. Despite what the statistics tend to suggest, the extent of the disease has surged significantly unlike the steady rise as estimated earlier in 2009.

Favorable reimbursement policies favoring growth of the breast lesion localization methods market in developed regions

Favorable reimbursement scenario in several developed countries, especially North America further favors growth in research related to finding novel technique to detect cancer. According to American Cancer Society, one time screening mammogram every 12 months is covered fully under Medicare for all women aged 40 and older. Also, it pays for clinical breast exam (CBE) in every 24 months once, for women with average risk of breast cancer. This in turn is expected to increase in rate of breast cancer screening with subsequent increase in growth for breast lesion localization methods market in the near future.

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Large potential in untapped emerging economies is expected to fuel the growth in breast lesion localization methods market

Continuous rise in population in emerging economies such as India and increasing focus towards strengthening of the healthcare infrastructure in the region are expected to provide major growth traction for the breast lesion localization methods market in the near future. Furthermore, according to The Pink Initiative and Breast Cancer Statistics in India, in 2014, a significantly large population of patients below the age of 50 years suffered from breast cancer. The exact statistics represents that around 16% were in the age between 20 and 40 and 28% were in age between 40 and 50. Increasing awareness in such regions with high potential is expected to improve the time to market of highly effective and advanced products.

Amazon and Walmart to face a big hit from new e-commerce rules of India

Amazon has been dominating the global market for quite a long period of time. They have been selling goods online for a long time. Walmart is another giant who has been trying to compete with Amazon. Walmart decided to buy e-commerce giant Flipkart so that they are able to compete with Flipkart in the Indian market.

All the e-commerce websites have now started to think that it was a good idea for them to invest and set up their business in India. India has made the rules against all the e-commerce websites much stricter so that they are able to work in a better manner. The taxes of all the e-commerce websites have also been increased which will result in lower profit margins for all the e-commerce websites.

According to all the rules, which are set up by the government of India all the e-commerce websites will run on the decision of the sellers and not on the decision of the platform. All the discounts which are generally forced on the sellers by the platform will have to stop and discounts will only be offered by the sellers according to their wants.

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All these rules have already been passed, but will take time to implement. These laws will all start working from the 1st of February 2019. Walmart and Amazon have come out and announced that they will have to take a big hit because of the new rules and all the sales numbers and growth of the company will go down if everything is left in the hands of the seller.

The government has finally shown a lot of activeness and made the rules strict. The e-commerce industry is growing in a very fast manner in the last couple of years and it was finally time for the government to make the rules strict for a better future.

All the e-commerce websites were things buying in bulk till now and selling it exclusively on a single platform, but the government has announced that this will not happen anymore as none of the brands will be able to sell products exclusively on one website.

The worst hit will be faced by Walmart because, in May 2018, they bought a total of 77 percent of the shares of Flipkart at a price of $16 billion in thoughts of growth in the future.

Also Read: Amazon shares rise 6% after record-breaking sales this holiday season

Amazon shares rise 6% after record-breaking sales this holiday season

Amazon.com Inc. has been able to make a jump of 6% today because of the record sales this holiday season.

Every year, during the time of holidays, Amazon allows a huge amount of discounts to all the customers in the wide range of products all over the website. It was reported that this year Amazon was able to make a record in most numbers of sales generated on holiday seasons.

Amazon always has a good business on the holiday season, but no other holiday season in the past has been able to generate such a big amount of growth in sales. The growth has been so much remarkable for Amazon that they were also been able to grow 6 percent of shares as of today.

According to Amazon, they were able to sell millions of more products this year as compared to last year. This goes on to show that Amazon is one of the most reliable online shopping platforms in the global market and more and more people are getting used to the idea of online shopping all over the world.

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Amazon has also allowed a huge amount of discounts this year on the Amazon Echo series, which comprise of smart speakers. It was understood that Amazon was able to make a lot of sales in the Echo-products which are available in the market. The Echo Dot is now one of the most affordable Christmas gifts for people of all age groups at just $49.99. The Ehco Dot was the most purchased products during the holiday season for 2017.

Amazon also listed its fire stick on discount this year. People have been purchasing both the normal fire stick and the firs stick 4K for their TV. The best thing about this product is that it converts any normal TV into a smart TV. With the help of this firs stick, you can always help your friends and family turn their TV into a smart TV.

Amazon has also come out with the Prime subscription which helps people to get items delivered to them at a faster rate and also enjoy Amazon Prime Videos. The number of people using Amazon Prime has increased drastically in this holiday season. There has been a massive growth in online sales of 19.1 percent for Amazon according to the data collected by Master Card.

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Indian government to tighten up rules for E-retail companies like Amazon and Flipkart

This Wednesday, the government tightened up all the rules and regulations of e-commerce websites like Amazon and Flipkart from selling products of all the companies which they are holding at stakes.

The Ministry of Commerce and Industry announced in a statement that Amazon and Flipkart will not be able to sell any products of companies in which they have invested or have purchased shares. The online e-commerce websites are now prohibited from mandating any other company to sell their products exclusively on one website.

This new rule will be applicable from the 1st of February 2019 according to the FDI in e-commerce. Any entity who has equity participation from an e-commerce marketplace or any group of companies having control of the inventory will not be permitted to sell any kind of products on any platform which is run by marketplace entity.

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The Ministry has also announced that all the online retail firms will not be indirectly or directly responsible for influencing prices of services or goods. This will help all the retail e-commerce websites to maintain the same level of playing in the field.

All the services which will be provided by e-commerce websites or other entities in which e-commerce marketplace has indirect or direct equity or common control to all the vendors of the platform at a very close range and is far more non-discriminatory in nature.

E-commerce websites like Flipkart and Amazon have always been very much into competing with each other and growing their sales numbers. All the companies allow exclusive discounts every year and the websites generally force its sellers to provide discounts. According to the new rule, the companies will not be able to force all the sellers to provide discounts.

These new rules and regulations which are levied by the government are very much strict and with the help of these rules, the seller will have an upper hand over the e-commerce platforms they are selling their products at.

Also Read: Research says Millions of dollars to be put at risk in the cashless society

All the online retail platforms will now have to file a certification on their own, along with a report of their statutory auditor to the Reserve Bank of India on a regular interval. This filing needs to be done by all the companies before the 30th of September every year from now on. It is expected that all the e-commerce giants like Amazon and Flipkart will have to take a big hit.

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Research says Millions of dollars to be put at risk in the cashless society

According to research, millions of dollars will be put at risk in the cashless society project.

It is expected that a lot of groups will be very much vulnerable if notes and coins become absolutely obsolete. It is also expected that a lot of people will have to pay more for different goods and services if everything goes cashless. It is also expected by all the big tech companies that society will keep on transitioning from cash towards a cashless society.

In a lot of reports recently, the risk of moving to a world without cash has been mentioned. It is also mentioned in the report that all the rich countries are all turning away from the cash to a cashless country with the help of technology companies like Apple and Google, which have come up with digital payment modes like Google Pay Tez and Apple Pay.

According to Apple, people will have a balance between credit cards and digital technology in the coming time, which will help people to conveniently live their life. In the United States of America, a projected dip in some cash has come out witnessing a concern in the state level. New Jersey is now making sure that one out of every five payments is made in cash with some laws.

Also Read: Google Assistant beats Amazon Alexa in online shopping

According to Sweden, almost 20 percent of the people do not go to the ATM ever to withdraw any cash from their bank. The United Kingdom is also drifting away into the whole cashless society. This will eventually affect people who are poor or people who are in debt. Another reason why cashless payments are not always safe is that there are hackers who can hack into the account and steal the money.

In a survey of 2,000 people and charities, it was understood that a lot of people are not able to cope up with this growing cashless technology. There are countries which are supporting the cashless movement because, with the help of cashless payments, the government is able to collect taxes very easily and conveniently.

It has also been said by experts that if people start sleepwalking toward a cashless society a lot of people will not be able to survive it. The government needs to work extra hard to make sure everything goes according to plan if they are trying to build a cashless nation.

Also Read: CarMax to look forward to E-commerce for its growth

Google Assistant beats Amazon Alexa in online shopping

According to sources, Amazon Alexa is not the global leader in the shopping category for quite a long period of time. Google Assistant has always been able to outperform Alexa in all the different aspects based on a test which was basically conducted to understand the best smart speaker available in the market now.

Research named Smart Speaker IQ test which was conducted in 2018 by a firm called Loup Ventures, which is known as a research-driven venture capital firm. According to the test, the Google Home Assistance was able to answer about 87.9 percent of the answers correctly.

Last year in this test, Google was only able to answer 81.1 percent of all the answers. In this test last year, Amazon Alexa was able to answer 63.8 percent of all the answers whereas this year it was able to answer 72.5 percent of all the answers. Microsoft Cortana also saw an improvement compared to last year. Last year, it was able to answer 56.4 percent question and this year it was able to answer 63.4 percent answers.

Amazon is now heading the global e-commerce space, but somehow it has not been able to become the leader in the smart speaker shipping category. The reason why Amazon is lagging behind is that of the technology. The software of the Google speakers is much more advanced as compared to the software of the Amazon Alexa.

Also Read: CarMax to look forward to E-commerce for its growth

The Google Assistant is now the only assistant, which was able to understand all the 800 questions which were asked during this test. All the questions were from different categories like commands, general information, navigation, commerce, and local information.

The artificial intelligence and machine learning of Google is very much advanced and this is why people prefer using Google Assistance. Google is known in the global market for its innovation and people all over the world prefer using its browser.

Since the browser and search engine of Google is so much powerful, people are very much inclined to buying its smart speakers. The smart speaker category of India grew at a rate of 43 percent this year and this is the perfect opportunity for all the companies to grow its sales numbers in the country. Amazon with a new range of Eco speakers is now leading the category with 59% market shares.

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CarMax to look forward to E-commerce for its growth

E-Commerce has been able to change the way people shop now a day.

People hardly go out to shop now. All they do is simply go to different online websites and order things from there. The best thing about online shopping and e-commerce is that the goods are generally delivered to the people on their doorstep. People generally order everything today on different -commerce websites.

Car purchasing is an industry where online shopping is not applicable because people generally prefer to take a test ride before they actually decide if they want to buy a car or not. The convenience of using the internet in today’s age is way too high. Since this is an industry which is known for its sales pressure, CarMax is a brand which is now looking for technologies which will help to maximize the use of any kind of technology with the help of which, they are able to reach their customers easily.

In the third quarter of the fiscal year, it has been seen that there has been a growth in the sales number of the CarMax brand. CarMax now allows users to have the option of getting their goods delivered to their doorstep easily. This is a perfect way to attract new age customers into the brand.

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The results of CarMax for the third quarter has come and the numbers are really good. They have been able to see a growth of 4.6 percent to $4.30 billion. The net income of the company has also increased and this is the reason why the share prices of the brand have also gone up drastically. The only growth that this brand depended on till date was growth through the dealers, but now they are able to grow simply with the help of the internet.

The company is seeing a lot of positive results after they launched their business online and they are really happy with the sales numbers. It is expected that there will be a growth in the market in the coming years and Carmax is just ready to grow along with it.

The best thing about CarMax is that all the prices of the vehicles are fixed and therefore people don’t have to think twice or bargain because of it. Buying cars have now become so much easy.

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WAWOOH to launch their own fashion E-commerce platform

WAWOOH, which is basically one of the leading fashion and lifestyle e-commerce platforms will officially be launching in operation this month in Nigeria.

WAWOOH announced their launch in a media party which was organized at Terra Kulture, Victoria Island, and Lagos. The main reason that this platform has been established is to drive the economic growth in the country and also activate new opportunities in the sphere of fashion.

This is also a very good opportunity for fashion designers and consumers all across Africa to meet and collaborate with each other. Trading is also going to become very much easier because of this.

In speaking at the launch of WAWOOH, the chief executing officer Kunle Oladipo said that the fashion market of Africa has been very much committed to driving a new narrative for all the fashion designers all across Africa. This is a perfect opportunity for all the designers from Africa to showcase their talent and reach to the audience. WAWOOH events are designed in such a way that people are able to showcase their talents in a marketplace and generate revenue from there.

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The main goal of WAWOOH is to make sure that they are able to bridge a gap between consumers of Africa and all the fashion designers of Africa and are able to create a platform that contains a huge amount of clothes designed by all the fashion designers of Africa.

This platform also has a very unique feature where people will be able to input all their measurements online and order for a made to fit item and also get delivered it to them at their doorstep.

Escrow systems have been set up by the company so that they are able to ensure the high quality of all the products. Vendors are only paid by the escrow account after the customer confirms that they have received the item.

Bolaji Omitogun, who is the Business Development Manager of WAWOOH said that currently, they are working on creating a database of all the fashion vendors who are ready to work with them in Africa so that they are able to contact them personally and display all their collections.

The events of WAWOOH generally feature a lot of leading influencers of Africa as well as people who are known in the global market.

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Ikea to invest Rs 5000 crore for a store in Noida

Ikea is now planning to open a store in Noida and it is expected to spend about Rs 5,000 crore on it.

The idea of Ikea, the Swedish home furnishing brand, is to set up large as well as small-format stores. This investment from Ikea will be able to create about 8,000 direct as well as indirect jobs in Noida. The unemployment rate of the state is surely going to go down because of this project.

Ikea which is planning to set up a large format store in Noida has successfully signed a MoU also known as the Memorandum of Understanding with the government of Uttar Pradesh so that they are able to open their store in Noida. Ikea is planning now to invest about Rs 5,000 crore in the state in the coming years so that they are able to create employment for 8,000 people.

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Ikea will also be opening a few small stores all across the state along with the big store so that Ikea is accessible to people of Noida. This store will basically be a complement to their e-commerce store said the chief executing officer of Ikea, Peter Betzel.

Ikea has been in India for quite some time. The first store of Ikea was opened in Hyderabad and after the initial success of the store, they have decided that they will be coming up with a new store in Noida. Ikea stores are generally huge and this is why Noida was the perfect place to set up the store. The government of the state is trying to help Ikea to set up their store. According to Ikea, Uttar Pradesh is a great place to open up a new store.

The market of Uttar Pradesh is very much important for their store. Ikea will be helping a lot of people to find employment in the store. In the year 2013, Ikea was able to receive a go-ahead from the government when they decided to invest Rs 10,500 crore in a single store.

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The government of India has been very much open to Ikea opening their stores in different states of India because the government is able to increase the employment rate and opening Ikea stores is also a step towards the growth of the state. Ikea is all excited to start working on their Noida store.

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