Genetic Engineering Market is Booming with Strong Growth Prospects | Thermo Fisher Scientific, Illumina, CRISPR Therapeutics

HTF MI introduces new research on Genetic Engineering covering the micro level of analysis by competitors and key business segments (2023-2029). The Genetic Engineering explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing.

Some of the major key players profiled in the study are Thermo Fisher Scientific Inc. (United States), Illumina, Inc. (United States), CRISPR Therapeutics AG (Switzerland), Merck KGaA (Germany), Lonza Group Ltd. (Switzerland), Genscript Biotech Corporation (China), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (United States), F. Hoffmann-La Roche Ltd (Switzerland), Novartis International AG (Switzerland). Additionally, other players that are part of this detailed analysis are Editas Medicine, Inc. (United States), Sangamo Therapeutics, Inc. (United States), Bio-Rad Laboratories, Inc. (United States).

The global Genetic Engineering market size is expanding at robust growth of 24.2%, sizing up market trajectory from USD 1.35 Billion in 2023 to USD 5.8 Billion by 2029.

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Definition:
The Genetic Engineering Market, also known as the genetic modification or biotechnology market, refers to the sector of the biotechnology industry that focuses on the manipulation and modification of an organism's genetic material (DNA) to achieve specific goals, such as the development of new biotechnological products, therapies, or advancements in the fields of agriculture, medicine, and industry. This market encompasses a wide range of techniques and applications related to genetic engineering.

On the off chance that you are engaged with the industry or expect to be, at that point this investigation will give you a complete perspective. It's crucial you stay up with the latest sectioned by Applications [Agriculture, Healthcare and Medicine, Industrial Applications, Others], Product Types [Genetically Modified Organisms (GMOs), Genetically Engineered Pharmaceuticals, Genetic Diagnostic Kits, Others] and some significant parts of the business.

Market Trends:
 Rapid advancements in CRISPR technology.

Market Drivers:
 High demand for genetically modified crops for enhanced yield.

Market Opportunities:
 Expansion of gene therapy applications.

Market Restraints:
 Expansion of gene therapy applications.

Market Challenges:
 Expansion of gene therapy applications.

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Genetic Engineering Market by Key Players: Thermo Fisher Scientific Inc. (United States), Illumina, Inc. (United States), CRISPR Therapeutics AG (Switzerland), Merck KGaA (Germany), Lonza Group Ltd. (Switzerland), Genscript Biotech Corporation (China), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (United States), F. Hoffmann-La Roche Ltd (Switzerland), Novartis International AG (Switzerland). Additionally, other players that are part of this detailed analysis are Editas Medicine, Inc. (United States), Sangamo Therapeutics, Inc. (United States), Bio-Rad Laboratories, Inc. (United States)

Genetic Engineering Market by Geographical Analysis:

• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)

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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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This release was published on openPR.