Australia is poised for a $30 billion economic opportunity, leveraging its synthetic biology research excellence, entrepreneurial culture, and abundant agricultural resources for industrial biotechnology.
AUSTRALIAN PROJECTIONS
* https://www.csiro.au/en/work-with-us/services/consultancy-strategic-advice-services/csiro-futures/future-industries/synthetic-biology-roadmap
GLOBAL PROJECTIONS
† https://www.mckinsey.com/industries/life-sciences/our-insights/the-bio-revolution-innovations-transforming-economies-societies-and-our-lives
‡ https://royalsociety.org/news/2024/05/chemical-industry-must-defossilise-to-reduce-carbon-emissions/#:~:text=Demand%20for%20embedded%20carbon%20in,product%20incineration%2C%20says%20the%20report.
https://www.synbiobeta.com/read/building-a-durable-bioeconomy-demands-new-mindsets-and-approaches
§ https://www.precedenceresearch.com/synthetic-biology-market
¶ https://foodinstitute.com/focus/whats-next-in-precision-fermentation/
“Synthetic biology is a platform technology with very broad applications in areas such as the circular economy, bioeconomy and decarbonisation. It’s important that these applications flourish right here in Australia.”
Useful articles and resources
Decarbonising the World Economy with Synthetic Biology
‘The production pathway of extraction, manufacture, single-use and long-lived waste once made sense. However, an economy based on non-renewable resources cannot infinitely grow. If developed successfully, next-generation biotechnology will literally boost renewable advanced manufacturing.’
Read MoreThe Australian Bioeconomy Market is More Than Medicine
‘Synthetic biology is high on Australia’s critical technology list. Yet one suspects it’s potential is pigeonholed in the medical applications queue while the wider opportunities lie unrecognised….But imagine if the power of synthetic biology was recognised for its full capabilities. The ability to address critical supply chain issues, mitigate climate change, create jobs in regional Australia from agricultural and municipal waste and create a mature 21st century bioeconomy.’
Read More
Australia’s Synthetic Biology Roadmap
This Roadmap provides a commercially focused and strategic view of how synthetic biology could underpin a thriving Australian bioeconomy worth up to $30 billion in annual revenue by 2040.
Read MoreBuilding a synthetic biology future in the Land Down Under
Government policy support for domestic manufacturing and sustainability is fuelling Australia’s synthetic biology ecosystem.
Read More