Genetic Engineering Market to Reach USD 2.45 Billion by 2032

According to analysts at Vantage Market Research, the Global Genetic Engineering Market size is worth USD 1.33 Billion in 2023 and is projected to reach USD 2.45 Billion by 2032, growing at a CAGR (Compound Annual Growth Rate) of 7.06% from 2024 to 2032. The market is driven by rising demand for personalized therapies, growing investment in research and development, and expanding agricultural biotechnology.

Market Overview

The global genetic engineering market is experiencing robust growth, fueled by technological advancements and increasing applications across biotechnology, medicine, and agriculture. As demand for personalized medicine and targeted therapies rises, genetic engineering plays a crucial role in developing new treatments for genetic disorders and chronic diseases. Additionally, the application of genetic engineering in agriculture, including genetically modified crops and livestock, is enhancing food security and productivity. 

Advances in gene editing technologies, especially CRISPR-Cas9, have significantly impacted the global market. CRISPR-Cas9 offers a highly efficient and precise method for modifying DNA, allowing scientists to make targeted changes with ease. Its simplicity and versatility have accelerated Genetic engineering research & expanded its applications. Additionally, investments in biotechnology, including CRISPR-Cas9 and other genome editing technologies, have boosted research & development in plant genomics. Both public and private sectors are investing heavily in these technologies, which drives innovation and market expansion.

Beam Therapeutics Reports Significant Progress in Hematology, Immuno-Oncology, and Genetic Disease Portfolios with Base Editing Advances

• Beam Therapeutics Inc., a biotechnology firm specializing in precision genetic medicines via base editing, has reported advancements across its hematology, immunology-oncology, and genetic disease portfolios, and has provided updates on expected upcoming milestones

Key Takeaways from the Report

• In 2023, North America dominated the market with 40.2% share, driven by substantial investments in genetic technologies, the growing popularity of stem cell therapies, and a favorable regulatory environment
• By Product, the Genetic Markers segment dominated the market with a 61.5% share due to its crucial role in identifying genetic variations for disease diagnosis, personalized medicine, and targeted therapies
• By Devices, the PCR segment dominated the market with 53.2% share, driven by its critical role in amplifying DNA sequences for genetic analysis and research

Top Companies

• Thermo Fisher Scientific Inc.
• CRISPR Therapeutics AG
• Merck KGaA
• Agilent Technologies
• GenScript
• Editas Medicine
• Intellia Therapeutics
• Lonza
• Sangamo Therapeutics
• PerkinElmer Inc.
• Cellectis S.A.
• Beam Therapeutics Inc.
• Precision BioSciences
• Caribou Biosciences Inc.
• Tecan Life Sciences
• Bluebird Bio Inc.
• Regeneron Pharmaceuticals
• AMSBIO
• Creative Biogene
• Synthego Corporation 

Report Coverage

Our market research reports provide comprehensive insights that are essential for strategic decision-making. We cover all key aspects of the market, including dynamics such as drivers, restraints, opportunities, and challenges, alongside the latest industry trends. Our analysis includes an in-depth technology roadmap, product life cycle evaluation, and PESTLE analysis, ensuring a thorough understanding of the market environment. We also assess GDP growth outlooks, examine regional market landscapes, and evaluate the impact of major events like the COVID-19 pandemic. Additionally, our reports feature a detailed competitive landscape, including company market shares and profiles, providing actionable intelligence to empower your business strategies.

Latest News

Intellia Therapeutics Unveils Groundbreaking Data on Redosing Potential of In Vivo CRISPR/Cas9 Therapy

• Intellia Therapeutics, Inc., a leading clinical-stage gene editing company at the forefront of CRISPR-based therapies, has revealed groundbreaking data demonstrating, for the first time, the potential for redosing with an investigational in vivo CRISPR/Cas9 genome editing therapy. The data, from the ongoing Phase 1 study of NTLA-2001—a single-dose treatment in development for transthyretin (ATTR) amyloidosis—was presented at the Peripheral Nerve Society Annual Meeting, held from June 22–25 in Montreal, Canada