NEW YORK, Oct. 17, 2016 /PRNewswire/ -- The genome editing market is projected to reach USD 5.54 billion by 2021 from USD 2.84 billion in 2016, growing at a CAGR of 14.3% in the next five years (2016 to 2021). The genome editing market is undergoing a significant transformation, with the changing landscapes of healthcare, and manufacturing industries. The growth of this market is majorly influenced by the dynamics of these industries.
Factors such as rising government funding and growth in the number of genomics projects, high prevalence rate of infectious diseases and cancer among patients, technological advancements, increasing demand for synthetic genes, growing awareness about genomics, and increasing new product launches by industry players are expected to drive the genome editing market in the coming years. Rise in the production of genetically modified crops is also expected to increase the demand for genome editing. However, the high cost of genomic equipment, shortage of trained professionals, and adverse public perception related to genetic research are restraining the growth of the market to a certain extent.
Increasing use of genome editing in specialized/personalized medicine and emerging markets in developing countries like Brazil, China, and India are providing various growth opportunities for players in the genome editing market.
In 2016, North America is expected to account for the largest share of the global genome editing market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). North America is also projected to have the highest growth rate in the forecast period. Factors such as the development of gene therapy in the U.S.; increasing use of GM crops; prevalence of Alzheimer's disease, dementia, infectious diseases, and cancer in the U.S.; growing availability of research grants and funding, and genome editing standards workshops and conferences are likely to propel the market in North America.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (expansions; new product launches; marketing and promotion; agreements, collaborations, partnerships, and funding; patent approval to increase their market shares and establish a strong foothold in the global market.
In-depth interviews were conducted with CEOs, Sales and Marketing Directors, other innovation and technology directors, and executives from various key organizations operating in the adaptive security market place.
- By Company Type: Tier 1: 50%, Tier 2: 42%, Tier 3: 8%
- By Designation: Director Level: 58%, C-Level: 25%, Others: 17%
- By Region: North America: 46%, Europe: 31%, APAC: 15%, ROW: 8%
Thermo Fisher Scientific, Inc. (U.S.), Merck KGAA (Germany), and Horizon Discovery Group Plc (U.K.) were prominent players in the global genome editing market in 2015. The other players include, Genscript Biotech Corporation (U.S.), Lonza Group Ltd. (Switzerland), Sangamo Biosciences, Inc. (U.S.), Integrated DNA Technologies, Inc (U.S.), New England Biolabs, Inc. (U.S.), Origene Technologies, Inc. (U.S.), and Transposagen Biopharmaceuticals, Inc. (U.S.).
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The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the products and services offered by top players in the genome editing market. The report analyzes the genome editing market by technology, application, and end user
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the genome editing market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for genome editing across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the genome editing market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and distribution networks of the leading players in the genome editing market
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