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.