Global Genetic Engineering Market Size, Share, Forecast Report, 2020-2027

Genetic engineering can be termed as the manipulation of genes of an organism or species for enhancing its abilities. The technology is used by pharmaceutical and biotechnology companies and by clinical research organizations. In medicine, gene therapy is the most widely used application for the treatment of cancer and other infectious diseases. The implementation of genetic engineering technology involves large investments which may not be affordable to a number of medical organizations, thus acting as a restraint for this market.

The extensive use of various technologies such as CRISPR/Cas9, TALEN, and ZNF in gene therapy for different genetic disorders and terminal illnesses is likely to be one of the primary drivers for the growth of this market.

Such emerging innovations in genetic engineering, as well as strategies such as mergers and acquisitions, are likely to result in the growth of this market during the forecast period. For instance, in February 2014, Thermo Fisher Scientific Inc. announced the acquisition of Life Technology Corp, a leading global player in genetic testing and precision laboratory equipment. This acquisition will help the company create an unrivaled control in serving research, life sciences, specialty diagnostics, and applied markets.

Factors such as increasing technologies for gene therapy, widespread use of genetic engineering found in developed countries, special attention towards stem cells, and increasing use of genetic engineering in medicine are driving the global genetic engineering market. However, the dearth of trained professionals and adverse public perception of genetic research are factors that are hampering the growth of the market.

The global market for genetic engineering is expected to grow at a CAGR of approximately 14.5% during the forecast period, 2018–2027.

Company Profiles

Thermo Fisher Scientific Inc.
GenScript
Amgen Inc.
Genentech, Inc.
Merck KGaA
Horizon Discovery Group plc
Sangamo Therapeutics, Inc.
Transposagen Biopharmaceuticals, Inc.
OriGene Technologies, Inc.
Segmentation

The global genetic engineering market is segmented based on product, devices, techniques, application, and end-user.

Based on product, the global genetic engineering market can be segmented into biochemicals, genetic markers, and others.

Biochemicals can be further divided into restriction enzymes, RNAase, and others. Restriction enzymes can be further divided into DNAase, metazoans, micrococcal nuclease, and others. RNAase is further divided into metazoans, RNase A, RNase H, RNase III, and others.

Genetic markers are further divided into RFLP (Restriction Fragment Length Polymorphism), AFLP (Amplified Fragment Length Polymorphism), SSLP (Simple sequence length polymorphism), and others.

Based on devices, the global genetic engineering market can be segmented into PCR, gene gun, gel assemblies, and others.

PCR is divided into Real-Time PCR, Reverse Transcription PCR, Quantitative PCR, and others.

Based on technique, the global genetic engineering market can be segmented into artificial selection, cloning, gene splicing, and others.

Based on application, the global genetic engineering market can be segmented into agriculture, medical industry, forensic science, and others.

Agriculture is divided into Bt- cotton, golden rice, and others. The medical industry is divided into recombinant proteins, recombinant antibodies, and others.

Based on end-user, the global genetic engineering market can be segmented into research institutes, academic institutes, pharmaceutical industries, and others.