Genetic Engineering Market Size, Trends and Insights By Product (Biochemical, Genetic Markers), By Devices (PCR, Gene Gun, Gel Assemblies), By Techniques (Gene Splicing, Artificial Selection, Recombinant DNA Technology, Synthesizing DNA, Gene Editing, Other), By Application (Agriculture, Medical Industrial), By End-User (Biotechnology Companies, Pharmaceutical Manufacturers, Academic and Research Institutions, Other), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Reports Description
Global Genetic Engineering Market was valued at USD 1,491.6 Million in 2024 and is expected to reach USD 2,917.2 Million by 2033, at a CAGR of 6.74% during the forecast period 2024 – 2033.
Genetic engineering is the process of directly manipulating an organism’s genes. Scientists can insert new genes, remove unwanted ones, or change existing ones. This allows for the creation of organisms with desired traits, like pest-resistant crops or bacteria that produce medicine.
The genetic engineering market focuses on the tools and techniques used in this manipulation. This includes things like enzymes for cutting DNA, genetic material like plasmids, and even software for designing genetic modifications. The market is expected to grow significantly in the coming years, driven by factors like increasing demand for personalized medicine and advancements in gene editing techniques like CRISPR.
Genetic Engineering Market: Growth Factors
Increasing Demand for Biopharmaceuticals
The global genetic engineering market is driven by the rising demand for biopharmaceuticals, which are developed using genetically engineered processes. Genetic engineering allows for the production of complex proteins and antibodies used in treating various diseases like cancer, diabetes, and autoimmune disorders.
According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), the global pharmaceutical market was valued at $1.2 trillion in 2023, and biopharmaceuticals accounted for a significant portion of this market. The demand for genetically engineered drugs is expected to grow further due to their effectiveness and specificity in treating diseases.
Technological Advancements in Gene Editing Tools
Advancements in gene editing technologies like CRISPR-Cas9 have significantly propelled the genetic engineering market. CRISPR-Cas9 allows precise and efficient modification of genes, making genetic engineering more accessible and cost-effective.
According to the National Institutes of Health (NIH), the global gene editing market is projected to reach $10.7 billion by 2025. The development of novel gene editing techniques is expected to further drive market growth, enabling researchers to target specific genes with higher accuracy and speed.
Genetic Engineering Market: Restraints
Ethical and Regulatory Concerns
One of the significant restraints in the global genetic engineering market is the ethical and regulatory challenges associated with altering genetic material. The debate over gene editing in humans and its potential implications has led to stringent regulations in many countries.
The European Union (EU), for instance, has strict guidelines governing the use of genetically modified organisms (GMOs) in agriculture and research. These regulations can slow down the approval process for genetically engineered products, thereby restraining market growth.
High Cost of Development and Research
The high cost of research and development (R&D) in genetic engineering poses a challenge to market expansion. Developing new gene therapies and biopharmaceuticals requires substantial investment in equipment, personnel, and clinical trials.
According to the Organization for Economic Co-operation and Development (OECD), R&D expenditure in the pharmaceutical industry was over $200 billion in 2022, with a significant portion dedicated to genetic engineering. The high costs associated with bringing genetically engineered products to market can limit investment and hinder market growth.
Genetic Engineering Market: Opportunities
Growing Applications in Agriculture
The global genetic engineering market presents significant opportunities in agriculture, particularly in crop improvement and pest resistance. Genetically modified (GM) crops have gained traction in several regions due to their ability to enhance yield, reduce pesticide use, and withstand environmental stress.
The Food and Agriculture Organization (FAO) estimates that over 190 million hectares of land worldwide were planted with GM crops in 2023. The adoption of genetic engineering in agriculture is expected to increase further as farmers seek innovative solutions to improve productivity and sustainability.
Expansion in Personalized Medicine
The trend towards personalized medicine offers promising opportunities for genetic engineering. Personalized therapies, tailored to an individual’s genetic makeup, hold immense potential in treating genetic disorders and chronic diseases.
According to the World Health Organization (WHO), the global personalized medicine market is projected to reach $3.2 trillion by 2025. Genetic engineering plays a crucial role in developing personalized treatments, such as gene therapies and cell-based therapies, which can address specific genetic mutations. This growing focus on personalized medicine is likely to drive demand for genetic engineering technologies and products.
Genetic Engineering Market: Segmentation Analysis
The Global Genetic Engineering market is segmented by Product, Devices, techniques, applications and end users.
Based on Product, the Global Genetic Engineering Market is segmented into Biochemical and genetic Markers. Among all these segments Genetic Markers held the highest market share in 2023. Genetic markers play a crucial role in various genetic engineering applications such as identifying genes responsible for diseases or desirable traits.
They are fundamental in research and diagnostic applications. Advances in genomics and personalized medicine are driving the growth of genetic marker technologies for precision medicine and targeted therapies.
Based on Devices, Global Genetic Engineering Market is segmented into PCR, Gene Gun, Gel Assemblies. Among all these segments PCR (Polymerase Chain Reaction) held highest market share in 2023.
PCR is a widely used technique in genetic engineering for amplifying DNA, critical for various applications including diagnostics, forensics, and research. Gene editing tools like CRISPR-Cas9 have seen remarkable growth due to their potential in targeted genome modifications for therapeutic and agricultural purposes.
Based on Techniques, the Global Genetic Engineering Market is segmented into Gene Splicing, Artificial Selection, Recombinant DNA Technology, Synthesizing DNA, Gene Editing, and others. Among all these segments Gene Editing held the highest market share in 2023.
Gene editing technologies (e.g., CRISPR-Cas9) are at the forefront due to their precision and versatility in altering genetic sequences. Gene editing is experiencing rapid growth across various sectors including healthcare (for gene therapy) and agriculture (for crop improvement).
Based on Application, Global Genetic Engineering Market is segmented into Agriculture and medical industries. Among all these segments Agriculture held the highest market share in 2023. Genetic engineering in agriculture is widely adopted for improving crop traits, pest resistance, and overall yield.
Applications in medical industrial sectors, especially in gene therapy and personalized medicine, are rapidly expanding due to advancements in genetic technologies.
Based on End-User, the Global Genetic Engineering Market is segmented into Biotechnology Companies, Pharmaceutical Manufacturers, Academic and Research Institutions, and others. Among all these segments Biotechnology Companies held the highest market share in 2023.
Biotech firms are heavily invested in genetic engineering for drug development, diagnostics, and agricultural biotechnology. With increased research funding and collaborations, academic and research institutions are driving innovation in genetic engineering techniques and applications.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 1,491.6 Million |
| Projected Market Size in 2033 | USD 2,917.2 Million |
| Market Size in 2023 | USD 1,400 Million |
| CAGR Growth Rate | 6.74% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product, Devices, Techniques, Application, End-User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Genetic Engineering Market: Regional Analysis
North America is the leading region in the global genetic engineering market. This is primarily due to several factors. Firstly, North America, particularly the United States, houses some of the world’s largest biotechnology and pharmaceutical companies that heavily invest in genetic engineering research and development.
The region benefits from a robust ecosystem of academic institutions, research centers, and venture capital funding, fostering innovation in genetic technologies. Additionally, favorable regulatory frameworks and strong intellectual property protection encourage industry growth and investment.
The presence of sophisticated healthcare infrastructure and high adoption rates of advanced medical technologies further drive the genetic engineering market in North America.
Asia Pacific is emerging as the fastest-growing region in the global genetic engineering market. Countries like China, India, Japan, and South Korea are witnessing rapid growth in the biotechnology and genetic engineering sectors.
The Asia Pacific region offers significant growth opportunities due to its large population base, increasing healthcare expenditure, and rising awareness about personalized medicine and genetic therapies. Furthermore, government initiatives supporting biotechnology research and development, coupled with a growing focus on precision medicine and genomics, are propelling the genetic engineering market in this region.
Lower operating costs and a growing pool of skilled scientific talent also contribute to the attractiveness of Asia Pacific for genetic engineering companies.
In conclusion, while North America remains the leading region in the global genetic engineering market due to its established industry ecosystem and technological advancements, the Asia Pacific region is experiencing rapid growth fueled by favorable demographics, increasing investments, and supportive government policies.
Both regions offer distinct advantages and opportunities for genetic engineering companies, with North America leading in terms of market size and maturity, and Asia Pacific leading in terms of growth potential and emerging market dynamics.
Genetic Engineering Market: Recent Developments
- In April 2024, Intellia Therapeutics Announced Positive Phase 1 clinical trial results for their next-generation ATTR amyloidosis treatment using CRISPR technology. The treatment showed a significant reduction in target protein levels with minimal side effects. This development highlights the progress of CRISPR-based therapies in human trials.
- In March 2024, Merck KGaA Partnered with Inari Agriculture to develop next-generation disease-resistant crops using gene editing. This collaboration leverages Merck’s expertise in gene editing tools with Inari’s computational breeding platform. This development showcases the growing application of gene editing in agriculture.
- In February 2024, Beam Therapeutics Received FDA approval to initiate clinical trials for their base editing therapy targeting sickle cell disease. This marks a significant milestone for base editing, a precise gene editing technique with potentially fewer off-target effects. This development signifies advancement in a more precise gene editing technology.
- In January 2024, CRISPR Therapeutics Announced a strategic collaboration with Roche to develop and commercialize their CRISPR-based CAR-T cell therapies for cancer treatment. This partnership provides CRISPR Therapeutics with significant resources and expertise for clinical development and commercialization. This development emphasizes the growing importance of strategic alliances in the field.
- In December 2023, Thermo Fisher Scientific Launched a new suite of gene editing tools specifically designed for high-throughput applications. These tools aim to accelerate research and development efforts in gene editing workflows. This development highlights the focus on improving accessibility and efficiency of gene editing techniques.
List of the prominent players in the Genetic Engineering Market:
- Merck KGaA (Germany)
- Thermo Fisher Scientific Inc. (US)
- GenScript (China)
- Agilent Technologies (US)
- PerkinElmer (US)
- Lonza (Switzerland)
- Tecan Life Sciences (Switzerland)
- Sangamo Therapeutics (US)
- Editas Medicine (US)
- CRISPR Therapeutics AG (Switzerland)
- Precision Biosciences (US)
- Cellectis S.A. (France)
- Intellia Therapeutics (US)
- Bluebird Bio Inc. (US)
- Regeneron Pharmaceuticals (US)
- AMSBIO (England)
- Creative Biogene (US)
- Synthego Corporation (US)
- Beam Therapeutics Inc. (US)
- Caribou Biosciences Inc. (US)
- Others
These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Genetic Engineering Market is segmented as follows:
By Product
- Biochemical
- Genetic Markers
By Devices
- PCR
- Gene Gun
- Gel Assemblies
By Techniques
- Gene Splicing
- Artificial Selection
- Recombinant DNA Technology
- Synthesizing DNA
- Gene Editing
- Other
By Application
- Agriculture
- Medical Industrial
By End-User
- Biotechnology Companies
- Pharmaceutical Manufacturers
- Academic and Research Institutions
- Other
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Genetic Engineering Market, (2024 – 2033) (USD Billion)
- 2.2 Global Genetic Engineering Market: snapshot
- Chapter 3. Global Genetic Engineering Market – Industry Analysis
- 3.1 Genetic Engineering Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increasing Demand for Biopharmaceuticals
- 3.2.2 Technological Advancements in Gene Editing Tools
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Product
- 3.7.2 Market Attractiveness Analysis By Devices
- 3.7.3 Market Attractiveness Analysis By Techniques
- 3.7.4 Market Attractiveness Analysis By Application
- 3.7.5 Market Attractiveness Analysis By End-User
- Chapter 4. Global Genetic Engineering Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Genetic Engineering Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Genetic Engineering Market – Product Analysis
- 5.1 Global Genetic Engineering Market Overview: By Product
- 5.1.1 Global Genetic Engineering Market Share, By Product, 2023 and 2033
- 5.2 Biochemical
- 5.2.1 Global Genetic Engineering Market by Biochemical, 2024 – 2033 (USD Billion)
- 5.3 Genetic Markers
- 5.3.1 Global Genetic Engineering Market by Genetic Markers, 2024 – 2033 (USD Billion)
- 5.1 Global Genetic Engineering Market Overview: By Product
- Chapter 6. Global Genetic Engineering Market – Devices Analysis
- 6.1 Global Genetic Engineering Market Overview: By Devices
- 6.1.1 Global Genetic Engineering Market Share, By Devices, 2023 and 2033
- 6.2 PCR
- 6.2.1 Global Genetic Engineering Market by PCR, 2024 – 2033 (USD Billion)
- 6.3 Gene Gun
- 6.3.1 Global Genetic Engineering Market by Gene Gun, 2024 – 2033 (USD Billion)
- 6.4 Gel Assemblies
- 6.4.1 Global Genetic Engineering Market by Gel Assemblies, 2024 – 2033 (USD Billion)
- 6.1 Global Genetic Engineering Market Overview: By Devices
- Chapter 7. Global Genetic Engineering Market – Techniques Analysis
- 7.1 Global Genetic Engineering Market Overview: By Techniques
- 7.1.1 Global Genetic Engineering Market Share, By Techniques, 2023 and 2033
- 7.2 Gene Splicing
- 7.2.1 Global Genetic Engineering Market by Gene Splicing, 2024 – 2033 (USD Billion)
- 7.3 Artificial Selection
- 7.3.1 Global Genetic Engineering Market by Artificial Selection, 2024 – 2033 (USD Billion)
- 7.4 Recombinant DNA Technology
- 7.4.1 Global Genetic Engineering Market by Recombinant DNA Technology, 2024 – 2033 (USD Billion)
- 7.5 Synthesizing DNA
- 7.5.1 Global Genetic Engineering Market by Synthesizing DNA, 2024 – 2033 (USD Billion)
- 7.6 Gene Editing
- 7.6.1 Global Genetic Engineering Market by Gene Editing, 2024 – 2033 (USD Billion)
- 7.7 Other
- 7.7.1 Global Genetic Engineering Market by Other, 2024 – 2033 (USD Billion)
- 7.1 Global Genetic Engineering Market Overview: By Techniques
- Chapter 8. Global Genetic Engineering Market – Application Analysis
- 8.1 Global Genetic Engineering Market overview: By Application
- 8.1.1 Global Genetic Engineering Market share, By Application, 2023 and 2033
- 8.2 Agriculture
- 8.2.1 Global Genetic Engineering Market by Agriculture, 2024 – 2033 (USD Billion)
- 8.3 Medical Industrial
- 8.3.1 Global Genetic Engineering Market by Medical Industrial, 2024 – 2033 (USD Billion)
- 8.1 Global Genetic Engineering Market overview: By Application
- Chapter 9. Global Genetic Engineering Market – End-User Analysis
- 9.1 Global Genetic Engineering Market Overview: By End-User
- 9.1.1 Global Genetic Engineering Market Share, By End-User, 2023 and 2033
- 9.2 Biotechnology Companies
- 9.2.1 Global Genetic Engineering Market by Biotechnology Companies, 2024 – 2033 (USD Billion)
- 9.3 Pharmaceutical Manufacturers
- 9.3.1 Global Genetic Engineering Market by Pharmaceutical Manufacturers, 2024 – 2033 (USD Billion)
- 9.4 Academic and Research Institutions
- 9.4.1 Global Genetic Engineering Market by Academic and Research Institutions, 2024 – 2033 (USD Billion)
- 9.5 Other
- 9.5.1 Global Genetic Engineering Market by Other, 2024 – 2033 (USD Billion)
- 9.1 Global Genetic Engineering Market Overview: By End-User
- Chapter 10. Genetic Engineerings Market – Regional Analysis
- 10.1 Global Genetic Engineerings Market Regional Overview
- 10.2 Global Genetic Engineerings Market Share, by Region, 2023 & 2033 (USD Billion)
- 10.3. North America
- 10.3.1 North America Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.3.1.1 North America Genetic Engineerings Market, by Country, 2024 – 2033 (USD Billion)
- 10.3.1 North America Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.4 North America Genetic Engineerings Market, by Product, 2024 – 2033
- 10.4.1 North America Genetic Engineerings Market, by Product, 2024 – 2033 (USD Billion)
- 10.5 North America Genetic Engineerings Market, by Devices, 2024 – 2033
- 10.5.1 North America Genetic Engineerings Market, by Devices, 2024 – 2033 (USD Billion)
- 10.6 North America Genetic Engineerings Market, by Techniques, 2024 – 2033
- 10.6.1 North America Genetic Engineerings Market, by Techniques, 2024 – 2033 (USD Billion)
- 10.7 North America Genetic Engineerings Market, by Application, 2024 – 2033
- 10.7.1 North America Genetic Engineerings Market, by Application, 2024 – 2033 (USD Billion)
- 10.8 North America Genetic Engineerings Market, by End-User , 2024 – 2033
- 10.8.1 North America Genetic Engineerings Market, by End-User , 2024 – 2033 (USD Billion)
- 10.9. Europe
- 10.9.1 Europe Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.9.1.1 Europe Genetic Engineerings Market, by Country, 2024 – 2033 (USD Billion)
- 10.9.1 Europe Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.10 Europe Genetic Engineerings Market, by Product, 2024 – 2033
- 10.10.1 Europe Genetic Engineerings Market, by Product, 2024 – 2033 (USD Billion)
- 10.11 Europe Genetic Engineerings Market, by Devices, 2024 – 2033
- 10.11.1 Europe Genetic Engineerings Market, by Devices, 2024 – 2033 (USD Billion)
- 10.12 Europe Genetic Engineerings Market, by Techniques, 2024 – 2033
- 10.12.1 Europe Genetic Engineerings Market, by Techniques, 2024 – 2033 (USD Billion)
- 10.13 Europe Genetic Engineerings Market, by Application, 2024 – 2033
- 10.13.1 Europe Genetic Engineerings Market, by Application, 2024 – 2033 (USD Billion)
- 10.14 Europe Genetic Engineerings Market, by End-User , 2024 – 2033
- 10.14.1 Europe Genetic Engineerings Market, by End-User , 2024 – 2033 (USD Billion)
- 10.15. Asia Pacific
- 10.15.1 Asia Pacific Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.15.1.1 Asia Pacific Genetic Engineerings Market, by Country, 2024 – 2033 (USD Billion)
- 10.15.1 Asia Pacific Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.16 Asia Pacific Genetic Engineerings Market, by Product, 2024 – 2033
- 10.16.1 Asia Pacific Genetic Engineerings Market, by Product, 2024 – 2033 (USD Billion)
- 10.17 Asia Pacific Genetic Engineerings Market, by Devices, 2024 – 2033
- 10.17.1 Asia Pacific Genetic Engineerings Market, by Devices, 2024 – 2033 (USD Billion)
- 10.18 Asia Pacific Genetic Engineerings Market, by Techniques, 2024 – 2033
- 10.18.1 Asia Pacific Genetic Engineerings Market, by Techniques, 2024 – 2033 (USD Billion)
- 10.19 Asia Pacific Genetic Engineerings Market, by Application, 2024 – 2033
- 10.19.1 Asia Pacific Genetic Engineerings Market, by Application, 2024 – 2033 (USD Billion)
- 10.20 Asia Pacific Genetic Engineerings Market, by End-User , 2024 – 2033
- 10.20.1 Asia Pacific Genetic Engineerings Market, by End-User , 2024 – 2033 (USD Billion)
- 10.21. Latin America
- 10.21.1 Latin America Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.21.1.1 Latin America Genetic Engineerings Market, by Country, 2024 – 2033 (USD Billion)
- 10.21.1 Latin America Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.22 Latin America Genetic Engineerings Market, by Product, 2024 – 2033
- 10.22.1 Latin America Genetic Engineerings Market, by Product, 2024 – 2033 (USD Billion)
- 10.23 Latin America Genetic Engineerings Market, by Devices, 2024 – 2033
- 10.23.1 Latin America Genetic Engineerings Market, by Devices, 2024 – 2033 (USD Billion)
- 10.24 Latin America Genetic Engineerings Market, by Techniques, 2024 – 2033
- 10.24.1 Latin America Genetic Engineerings Market, by Techniques, 2024 – 2033 (USD Billion)
- 10.25 Latin America Genetic Engineerings Market, by Application, 2024 – 2033
- 10.25.1 Latin America Genetic Engineerings Market, by Application, 2024 – 2033 (USD Billion)
- 10.26 Latin America Genetic Engineerings Market, by End-User , 2024 – 2033
- 10.26.1 Latin America Genetic Engineerings Market, by End-User , 2024 – 2033 (USD Billion)
- 10.27. The Middle-East and Africa
- 10.27.1 The Middle-East and Africa Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.27.1.1 The Middle-East and Africa Genetic Engineerings Market, by Country, 2024 – 2033 (USD Billion)
- 10.27.1 The Middle-East and Africa Genetic Engineerings Market, 2024 – 2033 (USD Billion)
- 10.28 The Middle-East and Africa Genetic Engineerings Market, by Product, 2024 – 2033
- 10.28.1 The Middle-East and Africa Genetic Engineerings Market, by Product, 2024 – 2033 (USD Billion)
- 10.29 The Middle-East and Africa Genetic Engineerings Market, by Devices, 2024 – 2033
- 10.29.1 The Middle-East and Africa Genetic Engineerings Market, by Devices, 2024 – 2033 (USD Billion)
- 10.30 The Middle-East and Africa Genetic Engineerings Market, by Techniques, 2024 – 2033
- 10.30.1 The Middle-East and Africa Genetic Engineerings Market, by Techniques, 2024 – 2033 (USD Billion)
- 10.31 The Middle-East and Africa Genetic Engineerings Market, by Application, 2024 – 2033
- 10.31.1 The Middle-East and Africa Genetic Engineerings Market, by Application, 2024 – 2033 (USD Billion)
- 10.32 The Middle-East and Africa Genetic Engineerings Market, by End-User , 2024 – 2033
- 10.32.1 The Middle-East and Africa Genetic Engineerings Market, by End-User , 2024 – 2033 (USD Billion)
- Chapter 11. Company Profiles
- 11.1 Merck KGaA (Germany)
- 11.1.1 Overview
- 11.1.2 Financials
- 11.1.3 Product Portfolio
- 11.1.4 Business Strategy
- 11.1.5 Recent Developments
- 11.2 Thermo Fisher Scientific Inc. (US)
- 11.2.1 Overview
- 11.2.2 Financials
- 11.2.3 Product Portfolio
- 11.2.4 Business Strategy
- 11.2.5 Recent Developments
- 11.3 GenScript (China)
- 11.3.1 Overview
- 11.3.2 Financials
- 11.3.3 Product Portfolio
- 11.3.4 Business Strategy
- 11.3.5 Recent Developments
- 11.4 Agilent Technologies (US)
- 11.4.1 Overview
- 11.4.2 Financials
- 11.4.3 Product Portfolio
- 11.4.4 Business Strategy
- 11.4.5 Recent Developments
- 11.5 PerkinElmer (US)
- 11.5.1 Overview
- 11.5.2 Financials
- 11.5.3 Product Portfolio
- 11.5.4 Business Strategy
- 11.5.5 Recent Developments
- 11.6 Lonza (Switzerland)
- 11.6.1 Overview
- 11.6.2 Financials
- 11.6.3 Product Portfolio
- 11.6.4 Business Strategy
- 11.6.5 Recent Developments
- 11.7 Tecan Life Sciences (Switzerland)
- 11.7.1 Overview
- 11.7.2 Financials
- 11.7.3 Product Portfolio
- 11.7.4 Business Strategy
- 11.7.5 Recent Developments
- 11.8 Sangamo Therapeutics (US)
- 11.8.1 Overview
- 11.8.2 Financials
- 11.8.3 Product Portfolio
- 11.8.4 Business Strategy
- 11.8.5 Recent Developments
- 11.9 Editas Medicine (US)
- 11.9.1 Overview
- 11.9.2 Financials
- 11.9.3 Product Portfolio
- 11.9.4 Business Strategy
- 11.9.5 Recent Developments
- 11.10 CRISPR Therapeutics AG (Switzerland)
- 11.10.1 Overview
- 11.10.2 Financials
- 11.10.3 Product Portfolio
- 11.10.4 Business Strategy
- 11.10.5 Recent Developments
- 11.11 Precision Biosciences (US)
- 11.11.1 Overview
- 11.11.2 Financials
- 11.11.3 Product Portfolio
- 11.11.4 Business Strategy
- 11.11.5 Recent Developments
- 11.12 Cellectis S.A. (France)
- 11.12.1 Overview
- 11.12.2 Financials
- 11.12.3 Product Portfolio
- 11.12.4 Business Strategy
- 11.12.5 Recent Developments
- 11.13 Intellia Therapeutics (US)
- 11.13.1 Overview
- 11.13.2 Financials
- 11.13.3 Product Portfolio
- 11.13.4 Business Strategy
- 11.13.5 Recent Developments
- 11.14 Bluebird Bio Inc. (US)
- 11.14.1 Overview
- 11.14.2 Financials
- 11.14.3 Product Portfolio
- 11.14.4 Business Strategy
- 11.14.5 Recent Developments
- 11.15 Regeneron Pharmaceuticals (US)
- 11.15.1 Overview
- 11.15.2 Financials
- 11.15.3 Product Portfolio
- 11.15.4 Business Strategy
- 11.15.5 Recent Developments
- 11.16 AMSBIO (England)
- 11.16.1 Overview
- 11.16.2 Financials
- 11.16.3 Product Portfolio
- 11.16.4 Business Strategy
- 11.16.5 Recent Developments
- 11.17 Creative Biogene (US)
- 11.17.1 Overview
- 11.17.2 Financials
- 11.17.3 Product Portfolio
- 11.17.4 Business Strategy
- 11.17.5 Recent Developments
- 11.18 Synthego Corporation (US)
- 11.18.1 Overview
- 11.18.2 Financials
- 11.18.3 Product Portfolio
- 11.18.4 Business Strategy
- 11.18.5 Recent Developments
- 11.19 Beam Therapeutics Inc. (US)
- 11.19.1 Overview
- 11.19.2 Financials
- 11.19.3 Product Portfolio
- 11.19.4 Business Strategy
- 11.19.5 Recent Developments
- 11.20 Caribou Biosciences Inc. (US)
- 11.20.1 Overview
- 11.20.2 Financials
- 11.20.3 Product Portfolio
- 11.20.4 Business Strategy
- 11.20.5 Recent Developments
- 11.21 Others.
- 11.21.1 Overview
- 11.21.2 Financials
- 11.21.3 Product Portfolio
- 11.21.4 Business Strategy
- 11.21.5 Recent Developments
- 11.1 Merck KGaA (Germany)
List Of Figures
Figures No 1 to 37
List Of Tables
Tables No 1 to 127
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2033
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Merck KGaA (Germany)
- Thermo Fisher Scientific Inc. (US)
- GenScript (China)
- Agilent Technologies (US)
- PerkinElmer (US)
- Lonza (Switzerland)
- Tecan Life Sciences (Switzerland)
- Sangamo Therapeutics (US)
- Editas Medicine (US)
- CRISPR Therapeutics AG (Switzerland)
- Precision Biosciences (US)
- Cellectis S.A. (France)
- Intellia Therapeutics (US)
- Bluebird Bio Inc. (US)
- Regeneron Pharmaceuticals (US)
- AMSBIO (England)
- Creative Biogene (US)
- Synthego Corporation (US)
- Beam Therapeutics Inc. (US)
- Caribou Biosciences Inc. (US)
- Others
FAQs
The Increasing Demand for Biopharmaceuticals is major driver in global Genetic Engineering market.
The “Agriculture” had the largest share in the global market for Genetic Engineering.
The “Biochemical” category dominated the market in 2023.
The key players in the market are Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), GenScript (China), Agilent Technologies (US), PerkinElmer (US), Lonza (Switzerland), Tecan Life Sciences (Switzerland), Sangamo Therapeutics (US), Editas Medicine (US), CRISPR Therapeutics AG (Switzerland), Precision Biosciences (US), Cellectis S.A. (France), Intellia Therapeutics (US), Bluebird Bio Inc. (US), Regeneron Pharmaceuticals (US), AMSBIO (England), Creative Biogene (US), Synthego Corporation (US), Beam Therapeutics Inc. (US), Caribou Biosciences Inc. (US), Others.
“North America” had the largest share in the Genetic Engineering Market.
The global market is projected to grow at a CAGR of 6.74% during the forecast period, 2024-2033.
The Genetic Engineering Market size was valued at USD 1,491.6 Million in 2024.