Press release
Genetic Engineering Market Poised for High Growth in the Coming Years | Thermo Fisher Scientific, Cibus, Recombinetics
Genetic Engineering Market
Some of the Top Leading Key Players: Thermo Fisher Scientific Inc. (USA), Lonza (Switzerland), Cibus (USA), Recombinetics Inc. (USA), Sangamo (USA), Merck KGaA (Germany), Precision Biosciences (USA), OriGene Technologies Inc. (USA), Intellia Therapeutics Inc. (USA), Caribou Biosciences Inc. (USA) and Other Major Players
Genetic Engineering Market Size Was Valued at USD 1.36 Billion in 2023 and is Projected to Reach USD 7.84 Billion by 2032, Growing at a CAGR of 21% From 2024-2032.
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The Genetic Engineering Market focuses on technologies and offerings allowing the manipulation of an organism's DNA to regulate genetic trends for programs in healthcare, agriculture, commercial biotechnology, and studies. The market is pushed by using improvements in CRISPR era, synthetic biology, and developing call for for gene remedy and GMO vegetation.
Segmentation Analysis of the Genetic Engineering Market
By Product Type
• Biochemical
• Genetic Markers
By Device
• PCR
• Gene Gun
• Gel Assemblies
By Technique
• Artificial Selection
• Gene Splicing
By Application
• Agriculture
• Medical Industry
Genetic Engineering Market Analysis
Trend Analysis:
• CRISPR-Cas9 Revolutionizes Genetic Engineering
Key Market Drivers:
• Increasing Demand for Personalized Medicine
Key Market Restraints:
• Ethical and Regulatory Challenges
Key Opportunities:
• Advancements in Therapeutic Applications
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Key Industry Developments in the Genetic Engineering Market:
In April 2023, Ginkgo Bioworks, which is developing the leading platform for cell programming and biosecurity, announced the acquisition of StrideBio's adeno-associated virus (AAV) capsid discovery and engineering platform assets, with a secondary close scheduled upon the transfer to Ginkgo of certain additional in-license agreements. Ginkgo will combine these skills and intellectual property into its end-to-end AAV gene therapy development platform, enabling Ginkgo's customers to make use of new tools to target a wide range of tissue types effectively.
In October 2021, Merck Life Science licensed its proprietary CRISPR-Cas9 technology to Cellecta to develop next-generation medicines. The technology's licensing enables researchers and scientists to develop remedies for hereditary blood problems, malignancies, and ophthalmological ailments.
Regional Analysis
Asia Pacific is Expected to Dominate the Market Over the Forecast period
Geographically, the distinctive analysis of consumption, revenue, market share, and growth rate of the subsequent areas:
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
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Conduct Comprehensive Competitor Analysis: Perform in-depth analyses of competitors to understand their market positioning, strategies, and operational strengths and weaknesses.
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Benchmark Against Key Competitors: Use benchmarking to compare your business's performance against leading competitors, identifying areas for improvement and potential competitive advantages.
Formulate Region-Specific Growth Strategies: Develop geographically tailored strategies to capitalize on local market conditions and consumer preferences, driving targeted business growth in key regions.
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Strategic Points Covered in Table of Content of Genetic Engineering Market:
Chapter One: Introduction
Chapter Two: Executive Summary
Chapter Three: Genetic Engineering Market Landscape
Chapter Four: Genetic Engineering Market by Type
Chapter Five: Genetic Engineering Market by Application
Chapter Six: Company Profiles and Competitive Analysis
Chapter Seven: Global Genetic Engineering Market by Region
Chapter Eight: Analyst Viewpoint and Conclusion
Chapter Nine: Research Methodology
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