Genetic Engineering Market Synopsis
Genetic Engineering Market Size Was Valued at USD 1.36 Billion in 2023 and is Projected to Reach USD 7.84 Billion by 2032, Growing at a CAGR of 21% From 2024-2032.
Genetic engineering on the other hand is a process whereby an organism is deliberately altered through biotechnology techniques with regards to its genetic information. It is a process of changing the hereditary makeup of a cell or organism either by adding, removing or changing the DNA or RNA sequence with an aim of getting desirable phenotypes. This can be achieved in two ways, which is through directly adding, deleting or changing for specific genes within the DNA of an organism. Genetic engineering is practiced in a wide range of areas that borders on agriculture, medicine, and industries, by enhancing the crop yield, producing drugs, disease resistant animals, and many others. It has brought drastic change in genetics field and provided us with excellent opportunity and scope to enhance our knowledge in this filed.
- The professional genetics market has emerged as an exciting, rapidly growing global industry, which is at the cutting edge of biotechnology. Technological reconstruction of an organs/tissue’s genetic makeup is referred to as genetic engineering or genetically modification/genetic manipulation. Consequently, this field raises significant impact and relevance in numerous fields like agriculture, healthcare, pharmaceutical industries, and environmental conservation.
- In agriculture application, genetic engineering has significantly transformed the ways of crop production by developing traits like pest-resistant crops or crops with tolerance to herbicides and improved nutritional qualities. Organic agriculture practices such as the application of GM crops allow farmers to produce better yields with minimum usage of pesticide hence solving the food security and sustainable agriculture challenges. Organizations in this sector spend substantial funds in injection of funds in research and development aimed at improving crops traits as well as meeting future problems like climate change and food deficit.
- Genetic engineering is best understood in healthcare and pharmaceutical industries as the prospects of new therapies and treatments hinges on it. New discoveries in Gene therapy:It brings cures for diseases which are inherited as genes for these diseases whether lost or mutated can be replaced. An example, almost all the biotechnology companies serve their client by combining the genetic profile of the personnel or patients to ensure that the result has a better impact of the drug with less side effects. The market for genetic testing and diagnostics is also growing steadily, given increased concern with primary disease diagnosis and assessment of individual risk factors.
- Genetic engineering is another key industry that is used by the pharmaceutical industry to manufacture biopharmaceuticals which include insulin, vaccines, and monoclonal antibodies among others. These products are derived from transgenically altered organisms or isolated cell cultures genetically programmed to synthesize particular proteins, thus providing a more potent and efficient process of manufacture than conventional processes.
- Other than agriculture Genetic engineering has social implications in environmental conservation and it applies in industrial biotechnology. Scientists are working on the possibilities of bioremediation applying genetically modified microorganisms and their ability to break down toxic wastes and work for the remedial action on contaminated sites. Industrial biotechnology uses genetic engineering to produce biofuels, biopolymers as well as other biochemicals from renewable feedstock in an attempt to cut increased dependence on fossil fuel and environmental pollution.
- There is cut throat competition in the genetic engineering market and the genetically modified organism market are stringently regulated because of the many ethical issues that come with the process and possible effects of GMOs on the environment. Managers have to wrestle with multilayered regulations that have considerable impact upon the operations of an organization since consumers remain worried about safety and demand more transparency. Another is the protection of knowledge assets also common among firms, which patent genetic constructs and technological advancements in an effort to safeguard their inventions and access exclusive markets.
- Existing research and development of genetic engineering is stimulated by technological development of such products and equipment, strategic partnerships and increased need in environmentally friendly technologies across various sectors. National and international investors continue to invest in the development of genetic engineering research and development to generate practical applications for solving social problems including those to do with health, nutrition, and the provision of nutritious foods and environmental conservation.
- With such future progress and developments on, the genetic engineering market is expected to expand and advance more significantly with the help of novel genome editing tools, Synthetic Biology, and the growing demand for biotechnological solutions across the globe. Genetic Engineering is still a fast-growing field of study as the process of scientific advancement continues and is on course to revolutionize various industries while enhancing the wellbeing of human beings and facilitating the creation of a better world. Therefore, further communication and sustainable management of the genetic engineering technologies are key toward a better society in this aspect.
Genetic Engineering Market Trend Analysis
CRISPR-Cas9 Revolutionizes Genetic Engineering
- Indeed, this particular method has proved to remarkably transform the current genetic engineering market since it provides the highest precision, speed and flexibility compared to other methods such as TA cloning. Different from other earlier methods, CRISPR-Cas9 allows researchers to introduce and remove piece of a DNA strand that is of interest at an extremely high efficiency due to its targeting capabilities across a broad spectrum of organisms ranging from bacteria to county plants and animals. This technological advancement in science has opened avenues in fields like agriculture, medicine, and biotechnology; it has helped scientists produce GMOs with desired characteristics, it has enable them to build models that are closer representations to diseases and it has led to prospects of gene therapy to reverse faulty genes.
- The team has found that the relatively safe and cheap CRISPR-Cas9 is allowing more groups globally and across industries to engage in genetic engineering. Consequently, the demand for genetic engineering or genetic modification services has surged in the market with more investments and developments in the field mainly because of the innovative CRISPR-Cas9 technology to solve multi-faceted biomolecular problems and provide fresh approaches to long-standing issues in the fields of health, food, and environmental protection.
Advancements in Therapeutic Applications
- Therapeutic applications of Genetic Engineering have brought revolutionary changes in the health sector and have proved to be quite useful in suggesting ways and means to treat disease which were once untreatable in the past. Modern biotechnology tools like the CRISPR-Cas9 have made genetic engineering techniques powerful and enabling precise manipulation of genes and genomes clearly at the molecular level. This has led to the rise of targeted therapies and the possibility of putting the right treatment to the right patient due to molecular differences that influence response to treatment and possibility of toxicity. When it comes to the gene therapy, which refers to the procedures aimed to modify or replace faulty genes resulting from inherited diseases, advances have been achieved in the field of curing such diseases as cystic fibrosis, muscular dystrophy, and some sorts of cancer.
- Besides, it has also opened up new approaches in the formulation of therapeutic interventions including the use of viruses for gene transduction to improve the efficiency of transfection. However, ethical and regulatory concerns that mark this market do not seem to deter it from growing as more players invest in researching and developing genetic engineering products while more universities, biotech firms, and pharma majors partner up for advancement. Over time, several possibilities are believed to have possibilities for suggesting some of the current health care issues of the modern humanity, thereby creating a new age of medical advancements and individualized treatments.
Genetic Engineering Market Segment Analysis:
Genetic Engineering Market Segmented based on Product Type, Device, Techniques , and Application.
By Product Type, Genetic Markers segment is expected to dominate the market during the forecast period
- Modern respectable expressed gene therapy has thrust a significant and positive change in the medical field by creating new prospects for chronic disease cure and enhancing patients’ quality of life. Techniques like CRISPR-Cas9 have added the most advanced possibilities for intentional regulation of genetic material, providing the highest level of educational modifications at the molecular level. This has led to development of individualized treatment of diseases because it has enabled the doctor to deliver treatment based on the patient’s genetic makeup thus increasing the chances of a proper treatment and decreasing the negative impacts of the treatment on the patient’s body. More specifically in gene therapy in which damaged genes that are localized in areas of an individual’s body or the entire genome can be erased or altered for treatment of certain diseases, advancements have been achieved in treatment of diseases such as cystic fibrosis, muscular dystrophy, and certain types of cancer.
- Furthermore, new synthetic biology has come up with an enhanced form of therapy through engineered viruses that can transport genetic materials to further enhance the functionality of cells. However, due to the ethical and regulatory issues that are likely to arise; the genetic engineering market is steadily rising mainly because of the increased research and development funds, more so the collaborations between the universities, genetic engineering organizations and the giant phar-ma organizations. These technologies serve for great potential once advanced to be valuable solutions for some of the current pressing issues in the healthcare sector thus leading to an age of enhanced medical revolutions and development of personalized treatments.
By Device , Gene Gun segment held the largest share in 2023
- The application of genetic engineering for therapeutic purpose has brought tremendous changes within the healthcare system today given that they have presented new techniques of handling diseases that earlier were declared non-curable and therefore have enhanced patient care. Advanced molecular tools like the CRISPR-Cas9 technology has enabled practitioners to make very fine adjustments depending on the tasks at hand. This has led to the introduction of what is known as the personalized medicine where the kind of medication can be decreed too by the genetic makeup of the individuals involved. Neural therapy and gene therapy that involves switching or repairing defective genes to cure inherited diseases has shown success in treating diseases such as cystic fibrosis, muscular dystrophy, and certain types of cancer.
- Furthermore, analytical improvements within synthetic biology have led to the emergence of new therapeutic products for instance engineered-viruses for a better and effective delivery of genetic material into the cells. Despite these ethical and regulatory impediments the global market for genetic engineering is reportedly on the rise because of increased investors’ capital on R & D together with augmentation of strategic partnerships between universities and research institutions, biotech firms and giants in the pharma manufacturing business. The aforementioned technologies are on the rise, and when developed, will revolutionize the future of medical treatment and healthcare systems in combating the existing health challenges and ignorance. .
Genetic Engineering Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast period
- The genetic engineering market is also expected to grow at a steady rate over the gross forecast period, and the Asia Pacific region is forecast to hold a dominant market influence. These factors consist of elements enabling the further advancement of the region as a whole and enhancing its direction. To begin with, Asia Pacific has an exploding market in biotechnology and an expanding pharmaceutical market due to increasing research and development. Some of the leading countries include China, Japan and India, having strong and developing base for biotech that provides substantial foundation for applying innovative changes in genetic engineering technologies. In addition, political conditions in the form of policies and campaigns supporting both biotechnology and healthcare enhance the exigent regulation of genetic engineering and its related works.
- Also, the increasing costs of healthcare and increased focus on individualized medicine which is driving the need for genetic engineering answers in the stated region. Consequently, Asia Pacific has prospects to take the position of one of the key stakeholders in the shift of the global Genetic Engineering Market into the future, as it hosts both developed and burgeoning technological industries, wise investments and favorable regulatory backgrounds that facilitate the market’s rapid growth and new development.
Active Key Players in the Genetic Engineering Market
- Thermo Fisher Scientific Inc. (USA)
- Lonza (Switzerland)
- Cibus (USA)
- Recombinetics Inc. (USA)
- Sangamo (USA)
- Merck KGaA (Germany)
- Precision Biosciences (USA)
- OriGene Technologies Inc. (USA)
- Intellia Therapeutics Inc. (USA)
- Caribou Biosciences Inc. (USA) and Other Major Players
Key Industry Developments in the Genetic Engineering Market
- In April 2023, Ginkgo Bioworks, which is developing the leading platform for cell programming and biosecurity, announced the acquisition of StrideBio's adeno-associated virus (AAV) capsid discovery and engineering platform assets, with a secondary close scheduled upon the transfer to Ginkgo of certain additional in-license agreements. Ginkgo will combine these skills and intellectual property into its end-to-end AAV gene therapy development platform, enabling Ginkgo's customers to make use of new tools to target a wide range of tissue types effectively.
- In October 2021, Merck Life Science licensed its proprietary CRISPR-Cas9 technology to Cellecta to develop next-generation medicines. The technology's licensing enables researchers and scientists to develop remedies for hereditary blood problems, malignancies, and ophthalmological ailments.
Global Genetic Engineering Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.36 Bn. |
Forecast Period 2024-32 CAGR: |
21% |
Market Size in 2032: |
USD 7.84 Bn. |
Segments Covered: |
By Product Type |
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By Device |
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By Technique |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Genetic Engineering Market by Product
4.1 Genetic Engineering Market Snapshot and Growth Engine
4.2 Genetic Engineering Market Overview
4.3 Biochemical
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Biochemical: Geographic Segmentation Analysis
4.4 Genetic Markers
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Genetic Markers: Geographic Segmentation Analysis
Chapter 5: Genetic Engineering Market by Devices
5.1 Genetic Engineering Market Snapshot and Growth Engine
5.2 Genetic Engineering Market Overview
5.3 PCR
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 PCR: Geographic Segmentation Analysis
5.4 Gene Gun
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Gene Gun: Geographic Segmentation Analysis
5.5 Gel Assemblies
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Gel Assemblies: Geographic Segmentation Analysis
Chapter 6: Genetic Engineering Market by Techniques
6.1 Genetic Engineering Market Snapshot and Growth Engine
6.2 Genetic Engineering Market Overview
6.3 Artificial Selection and Gene Splicing
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Artificial Selection and Gene Splicing: Geographic Segmentation Analysis
Chapter 7: Genetic Engineering Market by Application
7.1 Genetic Engineering Market Snapshot and Growth Engine
7.2 Genetic Engineering Market Overview
7.3 Agriculture
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Agriculture: Geographic Segmentation Analysis
7.4 Medical Industry
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Medical Industry: Geographic Segmentation Analysis
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Benchmarking
8.1.2 Genetic Engineering Market Share by Manufacturer (2023)
8.1.3 Industry BCG Matrix
8.1.4 Heat Map Analysis
8.1.5 Mergers and Acquisitions
8.2 THERMO FISHER SCIENTIFIC INC. (USA)
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Role of the Company in the Market
8.2.5 Sustainability and Social Responsibility
8.2.6 Operating Business Segments
8.2.7 Product Portfolio
8.2.8 Business Performance
8.2.9 Key Strategic Moves and Recent Developments
8.2.10 SWOT Analysis
8.3 LONZA (SWITZERLAND)
8.4 CIBUS (USA)
8.5 RECOMBINETICS INC. (USA)
8.6 SANGAMO (USA)
8.7 MERCK KGAA (GERMANY)
8.8 PRECISION BIOSCIENCES (USA)
8.9 ORIGENE TECHNOLOGIES INC. (USA)
8.10 INTELLIA THERAPEUTICS INC. (USA)
8.11 CARIBOU BIOSCIENCES INC. (USA)
8.12 OTHER MAJOR PLAYERS
Chapter 9: Global Genetic Engineering Market By Region
9.1 Overview
9.2. North America Genetic Engineering Market
9.2.1 Key Market Trends, Growth Factors and Opportunities
9.2.2 Top Key Companies
9.2.3 Historic and Forecasted Market Size by Segments
9.2.4 Historic and Forecasted Market Size By Product
9.2.4.1 Biochemical
9.2.4.2 Genetic Markers
9.2.5 Historic and Forecasted Market Size By Devices
9.2.5.1 PCR
9.2.5.2 Gene Gun
9.2.5.3 Gel Assemblies
9.2.6 Historic and Forecasted Market Size By Techniques
9.2.6.1 Artificial Selection and Gene Splicing
9.2.7 Historic and Forecasted Market Size By Application
9.2.7.1 Agriculture
9.2.7.2 Medical Industry
9.2.8 Historic and Forecast Market Size by Country
9.2.8.1 US
9.2.8.2 Canada
9.2.8.3 Mexico
9.3. Eastern Europe Genetic Engineering Market
9.3.1 Key Market Trends, Growth Factors and Opportunities
9.3.2 Top Key Companies
9.3.3 Historic and Forecasted Market Size by Segments
9.3.4 Historic and Forecasted Market Size By Product
9.3.4.1 Biochemical
9.3.4.2 Genetic Markers
9.3.5 Historic and Forecasted Market Size By Devices
9.3.5.1 PCR
9.3.5.2 Gene Gun
9.3.5.3 Gel Assemblies
9.3.6 Historic and Forecasted Market Size By Techniques
9.3.6.1 Artificial Selection and Gene Splicing
9.3.7 Historic and Forecasted Market Size By Application
9.3.7.1 Agriculture
9.3.7.2 Medical Industry
9.3.8 Historic and Forecast Market Size by Country
9.3.8.1 Bulgaria
9.3.8.2 The Czech Republic
9.3.8.3 Hungary
9.3.8.4 Poland
9.3.8.5 Romania
9.3.8.6 Rest of Eastern Europe
9.4. Western Europe Genetic Engineering Market
9.4.1 Key Market Trends, Growth Factors and Opportunities
9.4.2 Top Key Companies
9.4.3 Historic and Forecasted Market Size by Segments
9.4.4 Historic and Forecasted Market Size By Product
9.4.4.1 Biochemical
9.4.4.2 Genetic Markers
9.4.5 Historic and Forecasted Market Size By Devices
9.4.5.1 PCR
9.4.5.2 Gene Gun
9.4.5.3 Gel Assemblies
9.4.6 Historic and Forecasted Market Size By Techniques
9.4.6.1 Artificial Selection and Gene Splicing
9.4.7 Historic and Forecasted Market Size By Application
9.4.7.1 Agriculture
9.4.7.2 Medical Industry
9.4.8 Historic and Forecast Market Size by Country
9.4.8.1 Germany
9.4.8.2 UK
9.4.8.3 France
9.4.8.4 Netherlands
9.4.8.5 Italy
9.4.8.6 Russia
9.4.8.7 Spain
9.4.8.8 Rest of Western Europe
9.5. Asia Pacific Genetic Engineering Market
9.5.1 Key Market Trends, Growth Factors and Opportunities
9.5.2 Top Key Companies
9.5.3 Historic and Forecasted Market Size by Segments
9.5.4 Historic and Forecasted Market Size By Product
9.5.4.1 Biochemical
9.5.4.2 Genetic Markers
9.5.5 Historic and Forecasted Market Size By Devices
9.5.5.1 PCR
9.5.5.2 Gene Gun
9.5.5.3 Gel Assemblies
9.5.6 Historic and Forecasted Market Size By Techniques
9.5.6.1 Artificial Selection and Gene Splicing
9.5.7 Historic and Forecasted Market Size By Application
9.5.7.1 Agriculture
9.5.7.2 Medical Industry
9.5.8 Historic and Forecast Market Size by Country
9.5.8.1 China
9.5.8.2 India
9.5.8.3 Japan
9.5.8.4 South Korea
9.5.8.5 Malaysia
9.5.8.6 Thailand
9.5.8.7 Vietnam
9.5.8.8 The Philippines
9.5.8.9 Australia
9.5.8.10 New Zealand
9.5.8.11 Rest of APAC
9.6. Middle East & Africa Genetic Engineering Market
9.6.1 Key Market Trends, Growth Factors and Opportunities
9.6.2 Top Key Companies
9.6.3 Historic and Forecasted Market Size by Segments
9.6.4 Historic and Forecasted Market Size By Product
9.6.4.1 Biochemical
9.6.4.2 Genetic Markers
9.6.5 Historic and Forecasted Market Size By Devices
9.6.5.1 PCR
9.6.5.2 Gene Gun
9.6.5.3 Gel Assemblies
9.6.6 Historic and Forecasted Market Size By Techniques
9.6.6.1 Artificial Selection and Gene Splicing
9.6.7 Historic and Forecasted Market Size By Application
9.6.7.1 Agriculture
9.6.7.2 Medical Industry
9.6.8 Historic and Forecast Market Size by Country
9.6.8.1 Turkey
9.6.8.2 Bahrain
9.6.8.3 Kuwait
9.6.8.4 Saudi Arabia
9.6.8.5 Qatar
9.6.8.6 UAE
9.6.8.7 Israel
9.6.8.8 South Africa
9.7. South America Genetic Engineering Market
9.7.1 Key Market Trends, Growth Factors and Opportunities
9.7.2 Top Key Companies
9.7.3 Historic and Forecasted Market Size by Segments
9.7.4 Historic and Forecasted Market Size By Product
9.7.4.1 Biochemical
9.7.4.2 Genetic Markers
9.7.5 Historic and Forecasted Market Size By Devices
9.7.5.1 PCR
9.7.5.2 Gene Gun
9.7.5.3 Gel Assemblies
9.7.6 Historic and Forecasted Market Size By Techniques
9.7.6.1 Artificial Selection and Gene Splicing
9.7.7 Historic and Forecasted Market Size By Application
9.7.7.1 Agriculture
9.7.7.2 Medical Industry
9.7.8 Historic and Forecast Market Size by Country
9.7.8.1 Brazil
9.7.8.2 Argentina
9.7.8.3 Rest of SA
Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies
Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research
Global Genetic Engineering Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.36 Bn. |
Forecast Period 2024-32 CAGR: |
21% |
Market Size in 2032: |
USD 7.84 Bn. |
Segments Covered: |
By Product Type |
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By Device |
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By Technique |
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By Application |
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By Region |
|
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Key Market Drivers: |
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Key Market Restraints: |
|
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Key Opportunities: |
|
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Genetic Engineering Market research report is 2024-2032.
Thermo Fisher Scientific Inc. (USA), Lonza (Switzerland), Cibus (USA), Recombinetics Inc. (USA), Sangamo (USA), Merck KGaA (Germany), Precision Biosciences (USA), OriGene Technologies Inc. (USA),and Other Major Players.
The Genetic Engineering Market is segmented into Product Type, Device, Techniques , Application and Region. By Product Type , the market is categorized into Biochemical and Genetic Markers. By Devices , the market is categorized into PCR, Gene Gun, and Gel Assemblies. By Techniques , the market is categorized into Artificial Selection and Gene Splicing. By Application , the market is categorized into Agriculture and Medical Industry. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Genetic engineering on the other hand is a process whereby an organism is deliberately altered through biotechnology techniques with regards to its genetic information. It is a process of changing the hereditary makeup of a cell or organism either by adding, removing or changing the DNA or RNA sequence with an aim of getting desirable phenotypes. This can be achieved in two ways, which is through directly adding, deleting or changing for specific genes within the DNA of an organism. Genetic engineering is practiced in a wide range of areas that borders on agriculture, medicine, and industries, by enhancing the crop yield, producing drugs, disease resistant animals, and many others. It has brought drastic change in genetics field and provided us with excellent opportunity and scope to enhance our knowledge in this filed.
Genetic Engineering Market Size Was Valued at USD 1.36 Billion in 2023, and is Projected to Reach USD 7.84 Billion by 2032, Growing at a CAGR of 21% From 2024-2032.