Global Genetically Modified Organisms Industry
The global genetic testing industry is expected to be worth $2.2 billion by 2017, according to research from Global Industry Analysts. Market growth is fuelled by awareness regarding the advantages of genetic testing. Developments in the sector are also driven by increasing cases of chronic diseases, rising numbers of patients suffering from cancer and an aging global population. The US dominates the global genetic testing industry.
The genetically modified organism industry involves the creation of new sets of genes for insertion into an organism. These organisms have many applications, including adaption of foods such as is the case with transgenic plants that have been modified to better survive pests and herbicides or to boost shelf-life and nutritional value. Other areas in which genetically modified organisms are used apart from agriculture include gene therapy, medical research and the manufacture of pharmaceuticals.