The global genetic engineering drug market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). Genetic engineering drugs include hormones, enzymes, growth and coagulation factors, antibodies as well as vaccines and are generated by using recombinant DNA technology. Additionally, they are categorized by high and specific activity in the presence of optimal safety. The major factor driving the demand for the genetic engineering drug is the new drug launches and strategic initiatives from the key players in the market across the globe.
For instance, in December 2021, GlaxoSmithKline plc announced a five-year collaboration with Lyell Immunopharma. The collaboration was aimed to develop new technologies to improve cell therapies for cancer patients and will apply Lyell’s technologies to further strengthen GSK’s cell therapy pipeline which includes GSK3377794. GSK3377794 uses genetically engineered autologous T cells and is currently in Phase 2. Additionally, in January 2022, Pfizer Inc. announced an exclusive four-year research collaboration with Beam Therapeutics Inc. The collaboration is focused on in vivo base editing programs for three targets for rare genetic diseases of the liver, muscle and central nervous system
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Some major players in the market include Pfizer Inc., GlaxoSmithKline plc, and Eli Lilly and Co., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in February 2022, Eli Lilly and Company announced the launch of the Lilly Institute for Genetic Medicine. Additionally, the company announced an investment of approximately $700 million to establish a state-of-the-art facility at a new site in the Boston Seaport.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Product
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Pfizer Inc., GlaxoSmithKline plc, and Eli Lilly and Co., among others.
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Global Genetic Engineering Drug Market Report by Segment
By Product
- Monoclonal Antibody
- Recombinant Human Erythropoietin
- Recombinant Human Interferon
- Recombinant Human Growth Hormone
- Recombinant Human Insulin
By Application
- Less Than 30 Years Old
- 30 Years-60 Years Old
- Above 60 Years
Global Genetic Engineering Drug Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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