April 23, 2024
Synthetic Spider Silk Market

Synthetic Spider Silk Market Propelled by adoption in Healthcare and Biomedical Applications

The synthetic spider silk market comprises various bio-engineered silk materials that mimic natural spider silk. Synthetic spider silk possesses advantageous mechanical properties such as high tensile strength and elasticity. These properties have enabled their increasing adoption in various healthcare and biomedical applications such as surgical sutures, scaffolds for tissue engineering, and drug delivery carriers. The Global Synthetic Spider Silk Market Size is estimated to be valued at US$ 50 Million in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing adoption of synthetic spider silk in healthcare and biomedical applications has been a key driver of market growth over the recent years. Synthetic spider silk fibers possess high strength and flexibility making them suitable for applications where traditional sutures tend to break or come loose. Their biocompatibility and slow absorption rate in the body without toxic or inflammatory effects has further increased their adoption in surgical sutures and wound closure. Research is also ongoing on the development of synthetic spider silk scaffolds for bone and cartilage tissue engineering applications given their ability to mimic natural extracellular matrices and promote cell attachment and growth. The market is expected to witness lucrative opportunities over the forecast period with ongoing advancements in large-scale manufacturing techniques which can significantly lower production costs and enable more widespread commercialization and adoption of synthetic spider silk.

SWOT Analysis

Strength: Synthetic spider silk offers superior strength and toughness compared to steel and Kevlar. It is produced using bioengineered methods which eliminate harming spiders.
Weakness: High production costs make synthetic spider silk non-competitive against cheap substitutes. Mass production techniques need further refinement and scale-up.
Opportunity: Growing demand for high-performance biomaterials from sectors like defense, automotive and healthcare present a large market potential. Developed nations see it as a strategic material.
Threats: Limited intellectual property protection can enable copycats. Dependence on government funding for R&D poses risks. Natural silk still presents design and performance advantages.

Key Takeaways

The global synthetic spider silk market is expected to witness high growth over the forecast period of 2024 to 2031.

The North American region currently dominates the market owing to presence of key players and high defense spending which is utilizing synthetic spider silk. Europe is the second largest regional market supported by strong research funding and increasing innovations. The Asia Pacific region is anticipated to be the fastest growing market for synthetic spider silk over the coming years led by countries like China, India and Japan.

Key players operating in the synthetic spider silk market are Kraig Biocraft Laboratories, Spiber Inc, AMSilk GmbH and Bolt Threads. Kraig Biocraft Laboratories is a leading developer of genetically engineered spider silk using patented spider silk genes. Spiber Inc is engaged in production of synthetic spider silk fiber called Qmonos using fermentation technology. AMSilk GmbH produces synthetic spider silk under the trade name Epidro in collaboration with color chip manufacturer AMSilk. Bolt Threads is focused on creating synthetic spider silk fibers using precision fermentation.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it