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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.
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.
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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), and Sangamo Therapeutics, Inc. (US).
Genetic Engineering Market Segmentation:
On the basis of product, the global genetic engineering market has been segmented into genetic markers, biochemicals, and others. The biochemicals segment is further sub-segmented into restriction enzymes (DNAase, metazoans, micrococcal nuclease, and others), RNAase (metazoans, RNase A, RNase H, RNase III, and others), and others. The Genetic markers segment has been sub-segmented into RFLP (Restriction Fragment Length Polymorphism), AFLP (Amplified Fragment Length Polymorphism), SSLP (Simple sequence length polymorphism), and others.
By device, the genetic engineering market has been segmented into PCR, gel assemblies, gene gun, and others. The PCR segment has been further sub-segmented into Reverse Transcription PCR, Real-Time PCR, Quantitative PCR, and others.
The global genetic engineering market, by technique, has been segmented into cloning, artificial selection, gene splicing, and others.
Based on application, the genetic engineering market is segmented into the medical industry, agriculture, forensic science, and others. The agriculture segment is sub-segmented into golden rice, Bt- cotton, and others. The medical industry segment has been sub-segmented into recombinant antibodies, recombinant proteins, and others.
On the basis of end-user, the global genetic engineering market has been segmented into academic institutes, research institutes, pharmaceutical industries, and others.
Genetic Engineering Market Regional Analysis:
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.
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.
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