Market Outline: Genetic Engineering Market
Genetic engineering alludes to the set of technologies that directly manipulate on an organism’s genes, change the genetic makeup of cells and add one or more new traits that are not found in that organism. At the core of all life is the thing that we call DNA. It is in charge of the plenitude of life on this Earth and the motivation behind why we are how we are. The hereditary make-up of any creature is characterized by DNA. In nature, the genetic nature never stays settled.
Market Dynamics: Genetic Engineering Market
Increasing prevalence of cancer and other genetic disorders, growing preference for personalized medicine, Increase in R&D expenditure and growth of biotechnology and pharmaceutical industries, increase in private and public sector funding, rapid advancements in sequencing and genetic engineering technologies, applications in various drug discovery processes are some of the factors propelling the growth of the genetic engineering market. Moreover, Global genetic engineering market may be hindered by stringent government regulations for approval to gene mutation projects, ethical issues, unavailability of gene based therapeutics in the market and lack of awareness among people regarding the safety of genetic interventions.
Market Scope: Genetic Engineering Market
The Genetic Engineering Market is classified on the basis of type, technique, end userand geographical regions.
Based on the type, Genetic Engineering Market is segmented into
- Cell Line
- Animal Genome
- Plant Genome
Based on the Technique, Genetic Engineering Market is segmented into
- Artificial Selection
- Gene Splicing
Based on End User, Genetic Engineering Market is segmented into
- Pharmaceutical companies
- Biotechnology Companies
- Clinical Research Organizations
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Market Summary: Genetic Engineering Market
Biotech and pharma sectors dominating the Genetic Engineering industry owing to several applications in drug discovery and therapeutics. With the increase in the use of CRISPR and ZFN, companies are capitalizing on innovative researches focusing on the development of editing techniques. For example, the introduction of an initiative called the Artemisinin Project is planning to use synthetic biology to help treat malaria. Key strategies implemented by industry players include mergers and acquisitions, strategic collaborations for R&D outsourcing or manufacturing activities are driving the market growth of genome editing. For instance, Thermo Fisher acquired Life technologies in 2014, to create unbeatable leadership in life sciences, research, specialty diagnostics and applied markets.
Regional Analysis: Genetic Engineering Market
Geographically Genetic Engineering Market is segmented as Latin America, North America, Asia- Pacific, The Middle East & Africa and Europe. The genetic engineering market is dominated by North America due to the strong growth trend in the pharmaceuticals and biotechnology industries and is followed by Europe. Emerging economies of Asia Pacific and Latin America are expected to show significant growth in the genetic engineering market due to an increase in the number of laboratories in these regions and development of existing ones for automation of various instrumentation systems, the expansion of leading genetic engineering companies and increased R&D spending.
Market participants: Genetic Engineering Market
Some of the players in Genetic Engineering Market
- Applied Stemcell, Inc. (U.S.)
- Cellectis S.A. (France)
- Genscript (U.S.)
- Horizon Discovery Group plc,(U.K.)
- Merck KGaA (Germany)
- Origene Technologies, Inc. (U.S.)
- Sangamo Therapeutics, Inc.(U.S.)
- System Biosciences, Inc. (U.S.)
- Thermo Fisher Scientific (S)
- Transposagen Biopharmaceuticals, Inc.(U.S.).