Genetic Engineering Market Research Report Insight and Industry Analysis Product (Biochemical, Genetic Markers), Devices (PCR, Gene Gun, Gel Assemblies), Techniques (Artificial Selection, Gene Splicing), Application (Agriculture, Medical Industry), End-User – Global Forecast to 2027
Genetic Engineering Market Synopsis:
Genetic engineering is a relatively newer concept in medical science being researched upon for discovery of treatments and drugs. Market Research Future (MRFR) has assessed in its latest report that the global genetic engineering market is expected to mark a robust CAGR of 14.5% over the projection period 2018 to 2027. Pharmaceutical and biotechnology companies are investing in genetic manipulation which is anticipated to accelerate revenue growth for the market participants. In addition, the extensive use of gene therapy for clinical trials is projected to support the expansion of the global genetic engineering market in the forthcoming years.
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Technological innovations are likely to unleash strong developmental opportunities to the market. The developments and increasing use of technologies such as CRISPR/Cas9, TALEN, and ZNF are poised to dictate the growth pattern of the genetic engineering market over the next couple of years. Also, increasing burden of diseases such as cancer is expected to accelerate demand for genetic engineering in the years to come.
Genetic Engineering Market Competitive Dashboard:
The prominent players of the global genetic engineering market profiled in this MRFR report are
- Thermo Fisher Scientific Inc. (US)
- Horizon Discovery Group Plc. (UK)
- Genscript Biotech Corporation (US)
- Transposagen Biopharmaceuticals Inc. (US).
- Merck KGaA (Germany)
- New England Biolabs (U.S)
- Lonza Group Ltd. (Switzerland)
- Origene Technologies Inc. (US)
- Integrated DNA Technologies Inc. (US)
- Genentech, Inc. (US)
- Amgen Inc.(US)
- Sangamo Therapeutics Inc. (US)
Genetic Engineering Industry News:
In June 2019, Bluebird Bio, a biotechnology company, has received approval in Europe for its one-time gene therapy – Zynteglo, for treating beta thalassemia.
In May 2019, the U.S. Food and Drug Administration (FDA) innovative gene therapy for pediatric patients, Zolgensma (onasemnogene abeparvovec-xioi), for treating spinal muscular atrophy (SMA), one of the leading causes of infant mortality.
In May 2019, researchers at the University of Maryland have genetically modified fungus to kill mosquitoes that are responsible for spreading malaria.
Genetic Engineering Market Segmentation:
Global Genetic Engineering Market, by Product
- Restriction Enzymes
- Micrococcal Nuclease
- RNase A
- RNase H
- RNase III
- Genetic Markers
- RFLP (Restriction Fragment Length Polymorphism)
- AFLP (Amplified Fragment Length Polymorphism)
- SSLP (Simple Sequence Length Polymorphism)
Global Genetic Engineering Market, by Devices
- Real-Time PCR
- Reverse Transcription PCR
- Quantitative PCR
- Gene Gun
- Gel Assemblies
Global Genetic Engineering Market, by Techniques
- Artificial Selection
- Gene Splicing
Global Genetic Engineering Market, by Application
- Bt- Cotton
- Golden Rice
- Medical Industry
- Recombinant Proteins
- Recombinant Antibodies
- Forensic Science
Global Genetic Engineering Market, by End-User
- Research Institutes
- Academic Institutes
- Pharmaceutical Industries
By region, the global genetic engineering market has been segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa (MEA). Americas is expected to dominate the global market place owing to advancements in the healthcare sector in the region. Europe is anticipated to trail Americas closely and exhibit substantial growth over the next few years. The region is poised to witness an upsurge in demand for genetically modified organisms during the assessment period. Asia Pacific is also an important growth pocket and is expected to project steady growth in the upcoming years. The growth in the Middle East & Africa is likely to remain slow owing to socio-economic issues.
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