Genetic Engineering Market Size, Demand, Cost Structures, and Future

Posted by vinit sawant on March 16th, 2021

Several attributable factors to the growth of the global genetic engineering market include various emerging technologies and innovations in the healthcare and medicine sector, proliferated the use of genetic engineering in various countries and upscaling noted in the stem-cell division.

Market segmentation

The global genetic engineering market report by Market Research Future includes a detailed analysis based on devices, product, application, end users, technique, and region. Different devices studied in the global genetic engineering market include biochemicals and genetic markers. Within biochemicals, different products such as restriction enzymes and RNAase are included in the report. Different restriction enzymes analyzed in the report areDNAase, metazoans, and micrococcal nuclease. RNAase is further divided into metazoans, RNase A, RNase H, and RNase III.

Genetic engineering refers to the manipulation of genes in an organism of species to enhance various abilities. This technology is used by biotechnology companies, pharmaceutical companies, and clinical research organizations. In medicine, gene therapy is prominently used for the treatment of cancer and various infectious diseases and disorders. The global genetic engineering market size is anticipated to expand at 14.5% CAGR during the forecast period of 2018-2027.

Within genetic markers, different products studied include RFLP (Restriction Fragment Length Polymorphism), AFLP (Amplified Fragment Length Polymorphism), and SSLP (Simple sequence length polymorphism).

Detailed regional analysis

Global genetic engineering market has been studied for various regions like the Americas, Europe, Asia Pacific, and The Middle East and Africa. Among these regions, the Americas genetic engineering market over the forecast period. Such market dominance can be attributed to the increasing genetic engineering applications in the form of gene therapy, neurological disorders such as Alzheimer's and dementia, and prevalence of cancer. Apart from this, increasing awareness towards the use of stem cells is also fuelling sizable growth interracial genetic engineering market.

Genetic engineering market in Europe is anticipated to upscale due to extensive research and development activities noted in the fields of biotechnology and genetic engineering. The European market is expected to witness consistent growth and trail behind the American market. Additionally, with a rise in demand for genetically modified organisms, Europe is expected to be a future growth pocket for genetic engineering market.