Lab grown diamonds are chemically and structurally identical to their natural counterparts. Using advanced technology that replicates the natural diamond formation process companies are now able to synthesize diamonds. In recent years the technology has become so ubiquitous nearly anyone can buy the equipment to synthesize the lab grown diamonds, which is why their prices have fallen precipitously – in line with other diamond alternatives such as Moissanite and Zircon. The majority of the cost of lab grown diamonds today is rooted in the process to cut and polish the world’s hardest gemstone.