According to study, “Global Genetic Engineering Market Size study, by Devices (PCR, Gene Gun, Gel Assemblies, Others), by Techniques (Artificial Selection, Gene Splicing, Cloning, Others), by End-User (Research Institutes, Academic Institutes, Pharmaceutical Industries, Others), by Application (Agriculture, Medical Industry, Forensic Science, Others) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global genetic engineering market are Thermo Fisher Scientific Inc., Transposagen Biopharmaceuticals Inc., Merck KGAA, Genentech Inc., New England Biolabs, Horizon Discovery Group Plc, Lonza Group Ltd., Sangamo Therapeutics, Inc., Genscript Biotech Corporation, Integrated DNA Technologies Inc., Origene Technologies Inc., Amgen Inc.
Genetic engineering includes the set of technologies which are used for changing the inherited makeup of cells, transfer of genes within & across species boundaries to generate improved or novel organisms. It is also known as genetic manipulation or genetic modification. It allows use of animals or plants which are to be changed to their maturity or the development which can occur at a faster pace. It can also ease to create resistance at the general forms of organism death. It can also change the traits of animals or plants with the intention that they produce greater yield per plant. In addition, any genetic transformation caused by the environmental mutagens may also be corrected using genetic engineering.
Based on the product type, genetic engineering market is segmented into genetic markers and biochemical. Based on the devices, the market is segmented into gene gun, PCR, gel assemblies and others. PCR is further sub-divided into quantitative PCR, reverse transcription PCR, real time PCR and others. Based on techniques, market is defined as gene splicing, artificial selection, cloning and others. Based on application, market is segmented as a medical industry, agriculture, forensic science and others. In addition, based on end-user, market is segmented into academic institutes, research institutes, pharmaceutical industries and others.
The global genetic engineering market is primarily driven due to rising focus on innovation in gene therapy, followed by growing application areas of genomics, increasing production of genetically modifies crops, rising government funding & growth in number of genomic projects and increasing funding for research and development (R & D) of medical products. However, some important restraining factors are high amount of investment, dearth of trained professionals, secure storage of huge volumes of sequenced data and off-target effect of crispr.
North American region dominated the market owing to high incidence of cancer, increasing use of genetic engineering for use of gene therapy, followed by the growing awareness of the stem cells. The European region is also expected to contribute by being a second major region globally. Additionally, it is expected that the Asia-Pacific region to hold largest share of the revenue in the coming years due to high demand from the developing countries, vendors grabbing new opportunities & extracting their occurrence in the region. In addition, the Middle East & Africa holds the least share of the market on an account of limited availability of the medicinal facilities. In near future, it is expected that the global genetic engineering market to grow at a fast pace owing to the surging utility of technologies such as CRISPR & ZNF.
For more information on the research report, refer to below link:
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