Global Genetic Engineering Market Insights Forecasts to 2033

• The Global Genetic Engineering Market Size was Valued at USD  1.35 Billion in 2023
• The Market Size is Growing at a CAGR of 20.82% from 2023 to 2033
• The Worldwide Genetic Engineering Market Size is Expected to Reach USD 8.95 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Genetic Engineering Market Size is Anticipated to Exceed USD 8.95 Billion by 2033, Growing at a CAGR of 20.82% from 2023 to 2033.      

Market Overview

Genetic engineering, or genetic modification, is a technique used in lab-based technologies to modify an organism's DNA or introduce a gene from one species to another to achieve a desired characteristic. It involves introducing a new DNA segment, removing a section of DNA, or altering a single base pair. Genetic engineering aims to alter genes to enhance an organism's characteristics beyond is normal. Genetic engineering has been used in research and industry to produce cancer medicines, brewer yeasts, genetically modified plants and livestock, and other things. The primary factors driving the market growth are the rising demand for synthetic genes and the expanding application of CRISPR genome editing technology across various biotechnology sectors. The additional factors driving the market growth include the growing field of gene therapy, the creation of CRISPR gene editing technology, and funding from both the public and commercial sectors.   

For Instance, in June 2024, Intellia Therapeutics announced positive Phase 1 clinical trial findings for their CRISPR-based next-generation ATTR amyloidosis therapy. Target protein levels were significantly lowered by the treatment, and there were hardly any negative effects. The advancement of CRISPR-based treatments in human trials is demonstrated by this development.

Report Coverage

This research report categorizes the global genetic engineering market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global genetic engineering market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global genetic engineering market.

Driving Factors

The growing number of transmissible diseases serves as what drives genetic engineering. The increasing use of genome engineering in the treatment of chronic diseases is driving growth in the market. The quick, accurate, and rapid management of infectious and chronic diseases using transcriptome, genomic, or other multi-omics cells drives market expansion. Genetic engineering is increasingly being used to produce biopharmaceuticals like insulin and vaccines, which has accelerated the speed of the process of developing new drugs and improved the treatment of patients. Moreover, the need for genetic engineering in healthcare will drive market growth throughout the forecast period.  

Restraining Factors

The ethical and legal issues surrounding genetic material modification are a major restriction to the genetic engineering market. Market growth is restricted by the high cost of genetic engineering research and development (R&D). It costs a lot of money to develop novel gene treatments and biopharmaceuticals, including staff, equipment, and clinical trials.             

Market Segmentation

The global genetic engineering market share is classified into product, technique, and application.

• The genetic markers segment is expected to hold the largest share of the global genetic engineering market during the forecast period.   

Based on the product, the global genetic engineering market is divided into biochemical and genetic markers. Among these, the genetic markers segment is expected to hold the largest share of the global genetic engineering market during the forecast period. The aging population indicates a growing interest in plant extract components and phytochemical-containing nutraceutical products, especially in terms of driving the growth of the genetic markers segment.

• The gene splicing segment is expected to hold the largest share of the global genetic engineering market during the forecast period.   

Based on the technique, the global genetic engineering market is divided into artificial selection and gene splicing. Among these, the gene splicing segment is expected to hold the largest share of the global genetic engineering market during the forecast period. A single gene can create many protein transcripts with various structural and functional characteristics with the use of gene splicing. A number of the many beneficial effect of gene splicing, increased progress in plants and animals is crucial to the survival of our population.   

• The medical industry segment is expected to hold the largest share of the global genetic engineering market during the forecast period.   

Based on the application, the global genetic engineering market is divided into agriculture and medical industry. Among these, the medical industry segment is expected to hold the largest share of the global genetic engineering market during the forecast period. Gene therapy, cell therapy, genetic testing, and the manufacturing of pharmaceuticals using genetically modified organisms are all included in the medical industry segment.

Regional Segment Analysis of the Global Genetic Engineering Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global genetic engineering market over the predicted timeframe.

North America is anticipated to hold the largest share of the global genetic engineering market over the predicted timeframe. The main reasons for the market growth in North America include the development of gene therapy, the growing usage of genetically modified crops, and the growth of research funding and grants available in the US. Increased growth in the Canadian industry is expected as a result of many government initiatives and the nation's increasing genomics research and development.  

Asia Pacific is expected to grow at the fastest pace in the global genetic engineering market during the forecast period. China is the Asia-Pacific region largest market for genetic engineering technologies due to government programs that encourage the advancement of genomic research. The genetic engineering market in the region is expected to grow, owing to the growing focus of the Chinese government on precision medicine and the presence of major players such as BGI and Hebei Senlang Biotechnology.

Europe is anticipated to hold a significant share of the global genetic engineering market over the predicted timeframe. Europe is experiencing a rise in both public and private funding, along with larger genomic research and higher investment that will support market growth. The consumer genomics is certain to assist the European genetic engineering industry to flourish in the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global genetic engineering market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Thermo Fisher Scientific Inc.
• Cibus
• Horizon Discovery Group plc
• GenScript Biotech Corporation
• CRISPR Therapeutics AG
• Recombinetics Inc.
• Sangamo
• Merck KGaA
• Precision Biosciences
• OriGene Technologies Inc.
• Intellia Therapeutics Inc.
• Caribou Biosciences Inc.
• Eurofins Scientific SE
• Agilent Technologies, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2024, CRISPR Therapeutics and Roche announced a strategic partnership to advance and market the latter company's CRISPR-based CAR-T cell treatments for the treatment of cancer. CRISPR Therapeutics gains substantial resources and experience from this collaboration for its clinical development and commercialization.

• In December 2023, specifically for high-throughput applications, Thermo Fisher Scientific launched a new line of gene editing instruments. Research and development efforts in gene editing workflows are intended to be accelerated by these technologies. The focus on increasing the effectiveness and accessibility of gene editing methods is highlighted by this advancement.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global genetic engineering market based on the below-mentioned segments: 

Global Genetic Engineering Market, By Product

• Biochemical
• Genetic Markers

Global Genetic Engineering Market, By Technique   

• Artificial Selection
• Gene Splicing

Global Genetic Engineering Market, By Application

• Agriculture
• Medical Industry

Global Genetic Engineering Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa