Gene Cloning Services Market To Generate $10,019.6 Million Revenue by 2030
- Published: January 2024
The global gene cloning services market revenue is expected to reach USD 10,019.6 million by 2030, exhibiting a CAGR of 18.1% during 2024–2030. This growth can be attributed to the surging prevalence of hereditary conditions, increasing awareness among people of early disease diagnosis, beneficial funding policies for cloning services, rising number of companies entering the market, and enhancing genetic engineering technologies.
Technological enhancements in gene cloning and genetic engineering have resulted in the alteration of gene sequences in microbes, which, in turn, has led to the production of chemicals with a wide range of applications in research and therapeutics. Additionally, cloning has significant application in gene therapies for the treatment of several incurable diseases.
Gene cloning has significant applications in the medical field in the production of vitamins, hormones, and antimicrobials. Moreover, researchers are actively focusing on the field of gene cloning, aided by government investments. For instance, in November 2022, scientists in Shanghai cloned a mutant gene in wild maize, which led to a significant increase in the protein content of maize. This study not only showed a way to increase the protein content of maize, by genetically improving it, but also aided in reducing the utilization of fertilizers.
Additionally, there has been a significant increase in the number of service launches, acquisitions, collaborations, as well as agreements between companies to gain a competitive edge. For instance, in January 2020, Quest Diagnostics Inc. announced the acquisition of Blueprint Genetics, a company specializing in genetic testing. With this acquisition, Quest Diagnostics Inc. broadened its access to insights into genetic and rare diseases, to facilitate pharmaceutical drug R&D and improve patient care.
Moreover, in February 2020, Nebula Genomics Inc., a privacy-focused personal genomics company, partnered with BGI Tech Solutions Co. Ltd. to provide 30x whole-genome sequencing for $299 in the direct-to-consumer market segment. With this launch, Nebula Genomics expanded its services to 188 countries.
Pharmaceutical and Biotechnology Firms Lead Market in End User Segment
Pharmaceutical and biotechnology firms dominate the market, accounting for a share of 40% in 2023. This is attributed to the growing public awareness regarding early disease diagnosis, increasing application of gene cloning in drug discovery, and rising demand for personalized medicine.
APAC To Exhibit Highest Growth Rate
APAC is expected to progress with the highest CAGR, of 18.5%, during the forecast period. The growth in the APAC market can be attributed to the increasing research activities in the field of genomics in China, India, and Japan and the rising funding from private and public organizations for advancing genome research. Additionally, there is a large pool of patients suffering from chronic and infectious diseases, which is impelling enhancements in the healthcare infrastructure.
Moreover, China holds a substantial industry share in the Asia-Pacific region. This can be ascribed to the technological breakthroughs in gene therapies and the growing incidence of chronic ailments in the nation.
Furthermore, Japan is significantly contributing to the region’s market growth. This is attributed to Japan’s active involvement in medical research and human genetics since a long time. Additionally, it is one of the six nations that were part of the Human Genome Project, which has consistently driven gene cloning and sequencing activities in the nation.
Key players in the market include Thermo Fisher Scientific Inc., Genscript Biotech Corporation, Eurofins Scientific SE, Charles River Laboratories International Inc., Takara Bio Inc., Creative Biogene, Synbio Technologies, Aragen Life Sciences Ltd., Sino Biological Inc., and Curia Global Inc.