Global Genetic Engineering Market size was valued at USD 1,491.6 Million in 2024 and is expected to reach USD 2,917.2 Million by 2033, at a CAGR of 6.74% during the forecast period 2024 – 2033.
Genetic Engineering Market: Overview
The Global Genetic Engineering Market is experiencing robust growth driven by advancements in biopharmaceuticals, gene editing technologies, and expanding applications in agriculture and personalized medicine. Genetic engineering involves manipulating an organism’s genes to create desired traits, such as pest resistance in crops or targeted therapies for diseases.
The market dynamics are primarily influenced by key drivers, including the rising demand for biopharmaceuticals. Genetic engineering enables the production of complex proteins and antibodies used in treating diseases like cancer and diabetes. The market is also bolstered by technological advancements in gene editing tools like CRISPR-Cas9, which offer precise and efficient modifications to genetic sequences.
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However, the market faces challenges such as ethical and regulatory concerns associated with altering genetic material. Stringent regulations can slow down product approvals, impacting market growth. Additionally, the high cost of research and development in genetic engineering presents a barrier to entry for many companies.
Despite these challenges, the market presents significant opportunities, especially in agriculture and personalized medicine. Genetically modified crops are increasingly adopted for improving yield and sustainability, while personalized medicine based on genetic makeup is poised to transform disease treatment.
CMI has comprehensively analyzed the Genetic Engineering market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Genetic Engineering industry.
The competitive landscape includes key innovators, after market service providers, market giants as well and niche players which were studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, the Report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.
List of the prominent players in the Genetic Engineering Market:
- Merck KGaA (Germany)
- Thermo Fisher Scientific Inc. (US)
- GenScript (China)
- Agilent Technologies (US)
- PerkinElmer (US)
- Lonza (Switzerland)
- Tecan Life Sciences (Switzerland)
- Sangamo Therapeutics (US)
- Editas Medicine (US)
- CRISPR Therapeutics AG (Switzerland)
- Precision Biosciences (US)
- Cellectis S.A. (France)
- Intellia Therapeutics (US)
- Bluebird Bio Inc. (US)
- Regeneron Pharmaceuticals (US)
- AMSBIO (England)
- Creative Biogene (US)
- Synthego Corporation (US)
- Beam Therapeutics Inc. (US)
- Caribou Biosciences Inc. (US)
- Others
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