Due to increasing occurrences of distinctive diseases across the globe, the demand for customized or personalized medicines manufactured with the help of genetic engineering is significantly up surged in past few years. The enhancements and technological innovations in genetic engineering will create numerous opportunities in the emerging economies that will ultimately help in improving the demand for genetic engineering. With the help of genetic engineering it is possible to directly manipulate an organism's genes using biotechnology.This growth is primarily driven by Increasing Adoption in Pharmaceutical Industry and Robust Government Funding on Genetic Engineering.
Globally, a noticeable market trend is evident Increasing Adoption in Agriculture Industry
. The Life Sciences Tools & Services sector in the North America region has been increasing at a strong rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Thermo Fisher Scientific Inc. (United States), Merck KGaA (Germany), Horizon Discovery Group Plc. (United Kingdom), Transposagen Biopharmaceuticals Inc. (United States), New England Biolabs (United States), Genscript Biotech Corporation (United States), Lonza Group Ltd. (Switzerland) Inc. (United States), Origene Technologies, Inc. (United States), Integrated DNA Technologies, Inc. (United States) and CRISPR Therapeutics (Switzerland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On December 14, 2018, Merck, which is also known as MSD outside North America is a privately held Antelliq Group has announced that the companies have signed a definitive agreement under which Merck will acquire Antelliq with a cash payment of approximately 2.1 billion euros to acquire all outstanding shares of Antelliq and will assume Antelliq’s debt of 1.15 billion euros, which it intends to repay shortly after the closing of the acquisition.
According to Genetically Modified Seeds’ Resolution 46/2004 on Genetically Modified Plant Organisms, It is obligatory to complete an additional registration in a specific National Registry of Operators of Genetically Modified Plant Organisms by all those who conduct experiments, import, export, produce, reproduce, or carry out any activity related to genetically modified plants that have not been approved for commercialization in Argentina.
- Increasing Adoption in Pharmaceutical Industry
- Robust Government Funding on Genetic Engineering
- Increasing Adoption in Agriculture Industry
- Robust Technological Advancements
- Less Favorable Amount of Diversity Created by Genetic Engineering
- Unintended Negative Consequences
Rising Prevalence of Distinctive Diseases and Increasing Usage in Developing Economies
Copyrighted Process in Number of Regions including United States
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