Increase in genomic research across the world coupled with high incidence of target diseases is expected to drive market growth
Market Size – $ 3.8 Billion in 2018, Market Growth – 14.8% CAGR, Market Trends – Partnerships and Research for Advanced Genetic Engineering Technologies
The Global Genome Editing Market The size is expected to grow to $ 15.09 billion by 2028 at a CAGR of 14.8%, according to the latest report from Reports and Data. Genome editing refers to a method of genetic engineering used for insertion, deletion or modification in the genome of any organism. Genome editing has emerged as a promising tool with large-scale application of established genetic engineering technologies such as TALEN and the introduction of new methods such as CRISPR technology.
The market is driven by the increasing incidence of genetic diseases, favorable funding scenario for research and development in the field of genetic engineering, technological advancements in genetic engineering such as developments in CRISPR technology, increasing attention of the food industry on genetically modified organisms and increasing awareness of the efficacy and applications of genetic engineering methods. For example, worldwide, more than 175 million hectares of land are used for the production of GM crops. However, a strict regulatory scenario and ethical concerns for research and gene editing applications and the concerns of end users regarding the use of gene alteration therapies are likely to hamper the market growth during the course of the market. forecast period.
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Other key findings from the report suggest
- The CRISPR market is growing at a high growth rate of 30.9% in Asia-Pacific, followed by North America and Europe. The increasing application of genetic engineering for therapeutic purposes will drive the demand for the market during the forecast period in all regions.
- The TALEN market valuation was $ 1.79 billion in 2018 and is expected to reach $ 2.01 billion by 2026. The benefits associated with the high degrees of precision and control of TALEN are the key factor supporting high adoption. scale of technology and therefore contributing to the growth of the market.
- Asia-Pacific is expected to experience a CAGR of 15.8% during the forecast period. Emerging markets such as China and Japan expected to experience strong growth
- Regional regulatory approval is another key regulatory driver for the adoption and growth of gene editing in the region.
- The main participants are Thermo Fisher Scientific Inc., Merck KGaA, GenScript, Horizon Discovery Group Plc, Integrated DNA Technologies, Inc, Lonza, New England Biolabs and Sangamo Therapeutics, Inc.
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For the purpose of this report, Reports and Data has segmented the Genetic Editing market on the basis of type, application, end user, and region:
Type Outlook (Revenue, Million USD, 2018 – 2028)
- Regularly spaced grouped short palindromic repeats (CRISPR)
- Transcription activator effector nucleases (TALEN)
- Zinc finger nucleases (ZFN)
Application Outlook (Revenue, USD Million, 2018 – 2028)
- Animal genetic engineering
- Therapeutic application
- Genetically modified organism
- Genetic engineering of plants
- Cell line engineering
- Animal genetic engineering
End User Outlook (Revenue, USD Million, 2018 – 2028)
- Pharmaceutical and biotechnology companies
- University institutes and research center
- Agrogenomics companies
- Contract research organizations
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- Regional Outlook (Revenue, USD Million, 2018 – 2028)
- North America
- Rest of europe
- Asia Pacific
- South East Asia
- Latin America
- Middle East and Africa
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Highlights of the report:
- Competitive analysis of major players including aspects such as company overview, product or service specifications, suppliers and buyers.
- Mergers, acquisitions, recent product launches, recent investments and joint ventures
- Regional analysis to provide insight into recent trends and opportunities
- The report encompasses various strategic business approaches and decisions made by the major market players
- Covers insightful data on the Genome Editing market and provides a deeper understanding of the market and its dynamics
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