Genetic Engineering Market Trends

Global Genetic Engineering Market Overview

Genetic Engineering Market Size was valued at USD 1.36 Billion in 2023. The genetic engineering market is projected to grow from USD 1.68 Billion in 2024 to USD 7.73 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.94% during the forecast period (2024 - 2032). Growing demand for synthetic genes and increased use of CRISPR genome editing technology across various biotechnology industries are the key market drivers enhancing the market growth. In addition, it's projected that increased government financing, a rise in the output of genetically modified crops, and an increase in genomics studies will all contribute to the expansion.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The primary purpose of gene editing or editing the genome is to alter an organism's DNA using various technologies. With this technique, genetic material can be introduced, deleted, or replaced at specific spots in the genome. The main benefits of applying next-generation genetic engineering to crops are increased crop yields, lower costs for producing food or drugs, less reliance on pesticides, and improvements in the composition of nutrients & food quality. Other benefits include greater food security and resilience to pests and diseases that crops are susceptible to. Over the projected period, increased funding for genetic research in developed nations, especially North America, will propel the market for gene editing. Transferring new DNA from the donor to the recipient changes the genetic structure.

The traditional approaches involve breeding plants and crossing plants with the appropriate traits. However, it has been noted that using conventional methods results in poor crops because of the use of wild variation plants. This made genetically altering crops via next-generation genetic engineering more necessary. Additional factors influencing the market's expansion include the advancement of gene therapy, the advancement of CRISPR gene editing technology, and funding from both the public and commercial sectors. In addition, the continued occurrence of infectious and chronic diseases, including malaria, HIV/AIDS, liver hepatitis, TB, and others, has resulted in a surge in the application of genetic engineering in recent years for treating these conditions.

Additionally, this component encourages market expansion. Recently, major investments in genomics have been made by governments all over the world, which has substantially accelerated the development of revolutionary genetic engineering technologies. Additionally, government and academic organizations have been able to do in-depth research on genome engineering thanks to the availability of federal funding. As a result, numerous editing strategies have been created for use in the sector. Human disorders like cancer, HIV infection, sickle cell disease, and cystic fibrosis are also treated and prevented through gene editing.

According to research conducted by Prof Dr. Alexander Probst, Archaea, which are microorganisms that frequently resemble bacteria in many ways, have been shown to employ the CRISPR-Cas system to fight parasites. The researchers discovered this after performing a thorough genomic analysis on more than 7,000 genomes using cutting-edge sequencing technologies. Microorganisms use the CRISPR-Cas system as a defense against viral invasion. This microbial immune system is used for targeted genetic modification in genetic engineering.

Genetic Engineering Market Trends

• Increased incidence of genetic disorders is driving the market growth

Market CAGR for genetic engineering is driven by the rising number of genetic disorders. Market expansion is fueled by the growing application of genome engineering in treating chronic conditions. The use of transcriptome, genomic, or other multi-omics cells in the early, precise, and quick treatment of infectious and chronic diseases propels market expansion. The development of CRISPR gene editing technology, the advancement of gene therapy, and funding from the public and private sectors are further factors driving the market's growth. Aside from that, the continuous prevalence of chronic and infectious diseases, including HIV/AIDS, malaria, hepatitis, TB, and others, has led to an increase in the use of genetic engineering in treating these illnesses in recent years. This element promotes market expansion as well.

Governments worldwide have recently made large investments in the field of genomics, which has greatly aided in the advancement of novel genetic engineering technologies. Additionally, the availability of government financing has made it possible for government and university institutions to do extensive research on genome engineering. For instance, the Ministry of Innovation, Science, and Industry (Science) announced in March 2020 that Genome Canada would receive USD 15 million to support 11 genomic research initiatives in health, agriculture, and the environment. Provincial governments, companies, and research partners will invest USD 29.7 million to assist these research programs. The projects cover ovarian and cervical cancer research. There has been a tremendous increase in genomics research initiatives due to large government investments in the field. In turn, during the forecast period, this is anticipated to assist the expansion of the genetic engineering market. Thus, driving the genetic engineering market revenue.

Genetic Engineering Market Segment Insights

Genetic Engineering Product Insights

The Genetic Engineering Market segmentation, based on product, includes biochemical and genetic markers. The genetic markers segment dominated the market, accounting for 60.4% of market revenue (0.7 Billion). The two main drivers propelling the genetic markers sector are the global population's increasing use of personalized medicine and the focus on molecular biology research activities. Furthermore, in 2022, the biochemical saw considerable growth. The aging population has demonstrated an increasing interest in nutraceutical products, including phytochemicals and plant extract components, particularly in Europe, thus boosting the segment’s growth.

Figure 1: Genetic Engineering Market, by Product, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Genetic Engineering Devices Insights

The Genetic Engineering Market segmentation, based on devices, includes PCR, gene guns, and gel assemblies. In 2022, the PCR segment dominated the market. The desire for personalized and precision medicine, as well as technological breakthroughs and applications in drug development, are the main factors propelling the growth of the polymerase chain reaction sector.

August 2022 GenScript USA has developed a real-time polymerase chain reaction (RT-PCR) monkeypox test for research laboratories. The kit was created in collaboration with Anbio Biotechnology and distributed to diagnostic labs and medical device distributors for use in research to detect the monkeypox virus.

Additionally, in 2022, the gene gun sector witnessed the fastest growth rate. The growing use of gene guns in various industries, including agriculture and medicine, is one of the main factors propelling the worldwide gene gun sector.

Genetic Engineering Technique Insights

The Genetic Engineering Market segmentation, based on technique, includes artificial selection and gene splicing. The gene splicing segment acquired a major market share in 2022. With the help of gene splicing, a single gene can produce several protein isoforms with different structural and functional properties. The artificial selection segment was the fastest-growing segment in the forecast period.  Positive and negative impacts can be attributed to artificial selection. Increased advancements in plants and animals will help our population survive, among other positive benefits. Genetic illness risk is one of the negative outcomes.

Genetic Engineering Application Insights

The Genetic Engineering Market segmentation, based on application, includes agriculture and medical industry. In 2022, the medical industry segment was the prime user of the market. The primary factor influencing income generation is increasing research initiatives for developing innovative therapeutics. Additionally, to create cutting-edge technology, major pharmaceutical corporations worldwide work with up-and-coming businesses. Gene engineering also had a considerable share in the agriculture sector. Genetic engineering could lower production expenses, which could lower the cost of food for consumers. Breeders can also confer new features on animals thanks to genetic engineering.

The US-based bioscience company has submitted an RSR application to USDA-APHIS Biotechnology Regulatory Services (BRS) following the SECURE Rule for its exclusive elite camelina varieties, which contain genes that allow the plant to generate the eicosapentaenoic acid (EPA) part of omega-3 oil. New plants with the same genetic change would not be controlled in the same way after it is determined that a specific plant created through genetic engineering does not require regulation. To start ramping up its seed stock for future plantings and to start producing oil for use in expanding its business operations, Yield10 began growing omega-3 (EPA) Camelina at an acre-scale in the US in the spring of 2023.

Genetic Engineering Regional Insights

The US-based bioscience company has submitted an RSR application to USDA-APHIS Biotechnology Regulatory Services (BRS) following the SECURE Rule for its exclusive elite camelina varieties, which contain genes that allow the plant to generate the eicosapentaenoic acid (EPA) part of omega-3 oil. New plants with the same genetic change would not be controlled in the same way after it is determined that a specific plant created through genetic engineering does not require regulation. To start ramping up its seed stock for future plantings and to start producing oil for use in expanding its business operations, Yield10 began growing omega-3 (EPA) Camelina at an acre-scale in the US in the spring of 2023.

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American genetic engineering market area will dominate this market. The primary factors driving the market's rise in North America consist of the advancement of gene therapy, an increase in the use of GM crops, and an increase in the availability of research grants and financing in the US. Due to several government initiatives and the escalation of genomics research and development (via GAPP) in the nation, the Canadian market is anticipated to expand in the future.

Further, the major countries studied in the market report are US, Canada, France, German, Italy, UK, Spain, Japan, China, Australia, India, South Korea, and Brazil.

Figure 2: GENETIC ENGINEERING MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s genetic engineering market accounts for the second-largest market share. Growing government and private funding, expanded genomic projects, and increased investment will fuel market expansion. Consumer genomics will undoubtedly favor the growth of the European genetic engineering sector in the coming years. Further, the German genetic engineering market held the largest market share, and the UK genetic engineering market was the rapidly growing market in the European region.

The Asia-Pacific Genetic Engineering Market is expected to grow at the fastest CAGR from 2023 to 2032. China is the largest market for genetic engineering technologies in the Asia Pacific due to government initiatives supporting the growth of genomic research. Due to the Chinese government's increased emphasis on precision medicine and the existence of significant players like BGI and Hebei Senlang Biotechnology, the region's genetic engineering market is poised for expansion. Moreover, China’s genetic engineering market held the largest market share, and the Indian genetic engineering market was the rapidly growing market in the Asia-Pacific region.

Genetic Engineering Key Market Players & Competitive Insights

Leading market players are largely investing in research and development to expand their product lines, which will help the genetic engineering market, grow even more. The launch of new products, larger-scale mergers and acquisitions, contractual agreements, and collaboration with other organizations are significant market developments in which market participants engage to increase their global presence. The genetic engineering industry must provide affordable products to expand and thrive in a more competitive and challenging market environment.

One of the major business strategies manufacturers use in the global genetic engineering industry to increase market sector and benefit customers is local manufacturing to lower operational costs. In recent years, the genetic engineering industry has stipulated some of the most important medicinal benefits.  Major players in the genetic engineering industry, including Precision Biosciences, Intellia Therapeutics Inc., Merck KGaA, Sangamo, Thermo Fisher Scientific Inc, and others, are funding operations for research and development to boost market demand.

Caribou Biosciences Inc is a clinical-stage Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) biopharmaceutical business focused on altering the daily lives of patients suffering from devastating diseases by developing next-generation, genome-edited cell therapies based on its novel CRISPR platform, CRISPR hybrid RNA-DNA (chRDNA). The company operates and manages its operations as a single reportable operating segment, which involves the development of an allogeneic CAR-T and CAR-NK cell therapy pipeline. In May 2020, Caribou Science engaged in a commercial and clinical license arrangement with MaxCyte. The agreement sought exclusive use of MaxCyte's flow electroporation technology and the ExPERT platform. Caribou's gene-edited allogeneic T-cell treatment programs progressed due to this strategy, as were its business relationships in the genetic engineering sector.

Thermo Fisher Scientific Inc. is an American manufacturer and distributor of scientific instruments, reagents, consumables, and software services. Thermo Fisher, headquartered in Waltham, Massachusetts, was founded in 2006 by merging Thermo Electron and Fisher Scientific.  Scientific instruments, laboratory equipment, diagnostics consumables, and life science reagents are all available from Thermo Fisher Scientific. In April 2022, Thermo Fisher Scientific released a new Gibco CTS TrueCut Cas9 Protein, as high-quality support material and documents are vital as genome editing researchers progress from fundamental research to therapeutic settings. It is a viable approach for CAR T-cell therapy research employing CRISPR-Cas9 genome editing since it routinely achieves greater than 90% efficacy in human primary T-cells and high editing effectiveness in all cell lines tested.

Key Companies in the genetic engineering market include

• Thermo Fisher Scientific Inc.


• Lonza


• Cibus


• Recombinetics Inc.


• Sangamo


• Merck KGaA


• Precision Biosciences


• OriGene Technologies Inc.


• Intellia Therapeutics Inc.


• Caribou Biosciences Inc.

Genetic Engineering Industry Developments

April 2023 Ginkgo Bioworks, which is developing the leading platform for cell programming and biosecurity, announced the acquisition of StrideBio's adeno-associated virus (AAV) capsid discovery and engineering platform assets, with a secondary close scheduled upon the transfer to Ginkgo of certain additional in-license agreements. Ginkgo will combine these skills and intellectual property into its end-to-end AAV gene therapy development platform, enabling Ginkgo's customers to make use of new tools to target a wide range of tissue types effectively.

October 2021 Merck Life Science has licensed its proprietary CRISPR-Cas9 technology to Cellecta to develop next-generation medicines. The technology's licensing enables researchers and scientists to develop remedies for hereditary blood problems, malignancies, and ophthalmological ailments.

Genetic Engineering Market Segmentation

Genetic Engineering Product Outlook

• Biochemical


• Genetic Markers

Genetic Engineering Devices Outlook

• PCR


• Gene Gun


• Gel Assemblies

Genetic Engineering Technique Outlook

• Artificial Selection


• Gene Splicing

Genetic Engineering Application Outlook

• Agriculture


• Medical Industry

Genetic Engineering Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America