Genetic Engineering Market: Trends, Growth Drivers, and Future Outlook

Genetic Engineering Market size was valued at USD 1.27 Bn in 2023 and is expected to reach USD 5.64 Bn by 2030, at a CAGR of 23.7%.

Genetic Engineering Market Overview:

This Genetic Engineering market study looks at current and emerging industry trends and dynamics in the global Genetic Engineering market. Genetic Engineering Extensive market forecasting for the major market segments is carried out between 2024 and 2030. Extensive Genetic Engineering market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Genetic Engineering market, key players are profiled and their strategies are thoroughly evaluated.

Market Scope:

The analysis contains a current examination of the present Genetic Engineering market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Genetic Engineering market environment. Increased demand for Genetic Engineering is driving the market. The Genetic Engineering market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.

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Segmentation:

In terms of method, the Genetic Engineering Market share held by gene-splicing accounted for the biggest share in 2023. This process of slicing and reconnecting DNA fragments is called recombinant DNA technology. This method has transformed genetic engineering by enabling researchers to alter an organism’s genetic composition, which has produced important breakthroughs in a wide range of applications. Versatility in research and development, genetic testing and gene therapy, the manufacturing of biopharmaceuticals, and other reasons are driving the expansion of this market. Additionally, continuous developments in DNA synthesis methods, gene sequencing technology, and our understanding of gene regulation should support the segment’s expansion in the worldwide market.

Key Players:

The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market’s major influencing factors, as well as complete company profiles of

1. Thermo Fisher Scientific Inc.
2. Herbert Boyer
3. Merck KGaA (EMD Millipore)
4. Lonza Group Ltd.
5. Horizon Discovery Group plc
6. GenScript Biotech Corporation
7. CRISPR Therapeutics AG
8. Editas Medicine, Inc.
9. Sangamo Therapeutics, Inc.
10. Intellia Therapeutics, Inc.
11. Cellectis S.A.
12. Precision BioSciences Inc.
13. New England Biolabs, Inc.
14. Takara Bio Inc.
15. OriGene Technologies, Inc.
16. Eurofins Scientific SE
17. Transposagen Biopharmaceuticals, Inc.
18. Agilent Technologies, Inc.

Regional Analysis:

Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Genetic Engineering market study. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.

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COVID-19 Impact Analysis on Genetic Engineering Market:

The COVID-19 epidemic has had a significant impact on the global Genetic Engineering industry. Genetic Engineering Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Genetic Engineering market to decelerate in 2020. The negative impact of COVID-19 on the Genetic Engineering market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2023, owing to increased demand for Genetic Engineering.

Key Questions Answered in the Genetic Engineering Market Report are:

• Which segment was responsible for the largest share in the Genetic Engineering market?
• How was the competitive scenario of the Genetic Engineering market in 2023?
• Which are the key factors responsible for the Genetic Engineering market growth?
• Which region held the maximum share in the Genetic Engineering market in 2023?