Any organism whose genetic material has been modified using genetic engineering technique in laboratory is referred as genetically modified organism (GMO). Genetic modification of genetic material is practiced for production of specific biological product or for expression of specific physiological traits in an organism. Genetically modified organisms are produced using reproductive cloning and recombinant deoxyribonucleic acid (DNA) technology.
Transfer of entire donor nucleus into enucleated cytoplasm of host egg result in an offspring which is identical to its parent. Reproductive cloning generates offspring. While on the other hand, recombinant deoxyribonucleic acid (DNA) technology involves insertion of multiple genes from an individual of one species into deoxyribonucleic acid (DNA) of another species. The first animal produced using reproductive cloning technique was a sheep named Dolly in 1996. Since then, many animals such as pigs, dogs and horses, have been generated using reproductive cloning technique.
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Genetically modified organisms market involves ethical issues and thus, the market is highly regulated in majority of the countries globally. For instance, labeling of genetically modified food has become a topic of controversy in the U.S. in recent times. In addition, high risk of genetic pollution is another issue surrounding genetically modified food. Thus, ethical issues involved in the production are primarily restraining the growth of global genetically modified organisms market.
Geographically, the global genetically modified organisms (GMO) market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). North America comprises genetically modified organisms (GMO) market for the U.S and Canada. Europe comprises cumulative market of genetically modified organisms (GMO) in Germany, Italy, France, Spain, and Rest of Europe (RoE). Asia Pacific comprises cumulative market of genetically modified organisms (GMO) in China, India, Australia, New Zealand and rest of Asia Pacific (RoAPAC). Rest of the World (RoW) comprises genetically modified organisms (GMO) market in Latin America, Middle East and Russia. Presently, North America and Europe dominates the global genetically modified organisms market. Factors such as highly developed research infrastructure, well defined regulatory framework, availability of skilled scientists and exceptionally developed biotechnology sector are driving the growth of the genetically modified organisms (GMO) market in North America and Europe. Asia Pacific genetically modified organism (GMO) market is anticipated to grow at the highest CAGR during the forecast period from 2014 to 2020.
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Governments of countries such as India and China are investing heavily on biotechnology sector to boost the biotechnology industry in respective countries. In addition, India and China account for the largest population pool in the world leading to increase food in consumption needs. Rising food consumption is anticipated to drive the demand for genetically modified organism market in these countries. Ministry of Agriculture regulates the genetically modified organisms (GMO) market in China. Argentina, Brazil, Mexico, and South Africa, are some of the countries in the rest of the world (RoW) region that are expected to show higher growth in the near future.