Expanding genetic research is driving the growth in Global Genetic Engineering Tool Market in the forecast period, 2022-2026.
According to TechSci Research report, “Genetic Engineering Tool Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026”, the global genetic engineering tool market has a potential to project an impressive CAGR toward future growth in the period, 2022-2026, on the account of increasing demand for genetically modified organisms. GMOs have extended applications in the agriculture sector too and increasing instances of modified plants to enhance their growth, their resistance from infectious diseases, etc. is further driving the growth of the global genetic engineering tool market in the upcoming five years.
Also, surging demand for the advanced medication, genomic medicine, precision drugs, etc. along with the expanding pharmaceutical industry is supporting the growth of the global genetic engineering tool market in the next five years. Increasing demand for the gene therapy for the treatment of diseases like cancer, etc. is also substantiating the growth of the global genetic engineering tools market in the future five years.
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The global genetic engineering tool market is segmented on the basis of type, therapeutic area, end user, competitional landscape, and regional distribution. Based on type, the market is further fragmented into genome scale editing tools, and genome scale engineering tools. The market further segments genome scale editing tools into CRISPR, MAGE, CRMAGE, CREATE, and others.
Clustered regularly interspaced short palindromic repeats (CRISPR) is a gene editing tool and it is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to its increasing popularity and increased applications in various sectors. Multiplex Automated Genomic Engineering (MAGE) is gaining recent popularity due to its efficiency over other methods.
Developed by Wyss Institute at Harvard Medical School, the procedure is much faster, cheaper, and easier for genetic researchers to create organisms with novel functions that they can use for a variety of purposes, such as making chemicals and medicine, developing biofuels, or further studying and understanding the genes that can cause harmful mutations in humans. Genome scale engineering sub-segment includes promoter engineering, ribosomal binding site (RBS) engineering, synthetic small regulatory RNA, and others.
Some of the market players, dominating the global market are:
- Thermo Fisher Scientific Inc
- CRISPR Therapeutics AG
- Editas Medicine, Inc.
- Intellia Therapeutics, Inc
- Merck KGaA
- Horizon Discovery Ltd
- GeneCopoeia Inc
- Takara Bio Inc
- Sangamo Therapeutics, Inc.
- Genscript Biotech Corporation
These market players along with new market entrants, are focused on extensive research and bringing innovative and advanced products. Technologically advanced manufacturing of the pharmaceutical products and therapeutic processes would aid in decreasing the cost of the production and aid the players in managing their investments. Moreover, initiatives from the government and private fundings would support the global genetic engineering tool market growth indirectly.
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“North America region is anticipated to dominate the global market analysis on the grounds of most of the researches based on cancer and other chronic disease treatment being conducted in the larger economies like the United States, and Canada. Also, the rapidly increasing market players in the region are supporting the growth of the global genetic engineering tool market in the upcoming five years. Additionally, increasing research and development of pharmaceutical products are further supporting the growth of the global genetic engineering tool market in the next five years.
Moreover, private & governmental investments in the genetic engineering are further substantiating the growth of the global genetic engineering tool market in the future five years. Asia Pacific region is also anticipated to register significant growth in the consecutive five years in future on the account of sudden increase in the population accounting for higher demands for high yielding food crops. Technological advancement along with development of innovative methods of genetic engineering support global genetic engineering tool market in the future five years. New market players are advised to conduct extended research and formulate better methods and experiment kits for their brand establishments,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Genetic engineering tool Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Genome Scale Editing Tools {CRISPR, MAGE, CRMAGE, CREATE, Others} v/s Genome Scale Engineering Tools {Promoter Engineering, Ribosomal Binding Site (RBS) Engineering, Synthetic Small Regulatory RNA, Others}), By Therapeutic Area (Sickle Cell Disease, Heart Disease, Diabetes, Alzheimer’s Disease, Obesity, Others), By End User (Biotechnology & Pharmaceutical Companies, Academic & Research Institutions, Others), By Region”, has evaluated the future growth potential of global genetic engineering tool and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global genetic engineering tool market.
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