The Global Genetic Engineering Market is led by some of the fervent key players including Thermo Fisher Scientific Inc. (US), BGene (France), Amgen Inc. (US), and Genentech, Inc. (US). Profiling them in its analysis MRFR finds out their strategies helping them to keep at the forefront of the market competition.

Global Genetic Engineering Market – Synopsis

Genetic Engineering/ Modification/Manipulation refers to the direct manipulation of DNA to alter an organism’s characteristics phenotype using biotechnology. The goal of genetic engineering is to add one or more new traits which are not existing in that particular organism already. The intervention of Genetic Engineering in the sectors such as Agriculture, Medical, Industrial, and Forensic Science among others, has proven to be so useful & profitable. In agriculture, GE is used for higher yield and better varieties of crops, in medicine diagnostics and cures.

Developed in the year 1973 for the first time, Genetic Engineering has undergone several advancements and changes since then. The recent advancement in Gene-editing system – CRISPR is been considered as the most powerful, as it allows researchers to target, edit, or excise any gene they want in an organism. Such phenomenally useful advancements have fuelled the funding & investments in the R&D activities, which in turn, are contributing to increase the market growth of Genetic Engineering.

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Genetic Engineering Market - Competitive Landscape

The market appears to be fiercely competitive and fragmented with many well-established players having the global presence. Mergers & acquisitions, innovation and Brand reinforcement remain the popular trends for the key players in the market. Augmenting government initiatives aimed at enhancing Genetic engineering capabilities is anticipated to present the market with high growth potential. This, in turn, has significantly increased R&D activities & programs, and fund allotment for R&D.

Industry/Innovations/Related News:

March 31, 2018 – Researchers at the Washington State University published the study of a method they found out, to improve the genetics of food-producing cattle through gene modification rather than more traditional methods, like selective breeding. This development will help to improve the health, growth, and well-being of animals.

Genetic Engineering Market - Segmentation

For the convenience of the report and enhanced understanding, MRFR has segmented its analysis into five key dynamics.

By Types: Comprising Plant Gene & Animal Gene among others.

By Techniques: Cloning, Gene Splicing and Artificial Selection among other.

By Applications: Medical, Agriculture, Industrial, and Forensic Science among others.

By End Users: Academic Institute and Research Institute, among other.

By Regions: North America, Europe, APAC and Rest of the World.

Global Genetic Engineering Market – Geographical Analysis

Backed by the presence of well-established players & investments put in by them in the market, North America region is leading the global Genetic Engineering market with the largest market share. The largest contribution from the significantly growing market of the US. attributing to the high expenditure on the health care. Continuing with the same growth trends, the North America market is likely to retain its dominance during the review period.

While Europe market accounts for the second largest market for Genetic Engineering, globally. The market is driven by the higher per capita income and strong healthcare penetration in the region. The strong market growth in the countries like Germany & France drives the regional market growth in the large scale.

Asia-Pacific market, on the other hand, is projected to register the highest CAGR in the years to come owing to the growing market in the countries like China, India & Japan backed by the huge population.

Markets of the Gulf nations, mainly Saudi Arabia and UAE would turn the tables in the MEA (Middle East & Africa) market registering a noteworthy growth. Whereas Genetic Engineering market in Africa would witness a sluggish growth due to unfavourable economic and political conditions.

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