Gene cloning has a critical role in the precision medicine approach, as it confirms the safe and effective application of targeted therapeutics.
The global gene cloning services market was valued at $1,983.6 million in 2020 and is expected to reach $11,524.4 million by 2031, growing at a CAGR of 17.29% during the forecast period 2021-2031.
Factors fueling the growth of the market include a favorable funding scenario for gene synthesis and cloning services, technological advancement in cloning and subcloning services, and a rise in synergistic activities in the market.Despite rapid advancement in the industry, several key issues need to be addressed to facilitate future growth. Complications associated with large-scale production of cloning vectors and lower transfection efficiency are hampering market growth. Further, some opportunities, such as the rise in demand for gene and cloning services, the limitation of vectors or plasmids, and the development of new economic technologies and services, provide growth to the market.