Genome Editing Market size worth $ 13.83 Billion, Globally, by 2028 at 14.53% CAGR: Verified Market Research®
Factors such as the availability of government funding and the increase in the number of genomics studies are driving market expansion. However, the high cost of genomic equipment would limit the market's expansion.
JERSEY CITY, N.J., Aug. 9, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Genome Editing Market" By Technology (CRISPR, TALEN, ZFN), By Application (Cell Line Engineering, Plant Genetic Engineering), By Delivery Method (Ex-vivo, In-vivo), By End-User (Pharmaceutical Companies, Biotechnology Companies), and By Geography. According to Verified Market Research, the Global Genome Editing Market size was valued at USD 4.71 Billion in 2020 and is projected to reach USD 13.83 Billion by 2028, growing at a CAGR of 14.53% from 2021 to 2028.
The market for genome editing is predicted to grow shortly due to a major element driving the market, which is an increase in funding. Governments in many regions are expanding their funding and grants to support genome editing research. Because of the benefits of genome editing, various governments are sponsoring public and commercial research, as well as academic institutes, to increase research efforts for genome editing and genetic engineering.
Cancer and other genetic illnesses are becoming more common, and there is a growing preference for individualized medicine. Increased R&D spending and the expansion of the biotechnology and pharmaceutical industries increased investment from the business and public sectors, as well as rapid developments in sequencing and genome editing technologies. Non-labeling of gene-edited goods such as GMOs, as well as uses in various drug development procedures, are a few of the drivers driving the growth of the genome editing market.
Genome editing has shown promise in the treatment of genetic abnormalities, infectious illnesses, and cancer. Along with the benefits, there are growing worries about the hazards and ethical difficulties involved with genome editing, which have an impact on the market.
Key Developments inGenome Editing Market
In January 2020, New England Biolabs and ERS Genomics cooperated to create and market CRISPR gene editing technologies and reagents.
In March 2019, Brammer Bio was acquired by Thermo Fisher Scientific to have access to Brammer Bio's expertise in manufacturing vectors for gene and cell treatments.
The major players in the market are Thermo Fisher Scientific (US), Merck (Germany), Horizon Discovery Limited (UK), Lonza (Switzerland), GenScript (US), Eurofins Scientific (Luxembourg), Sangamo Therapeutics (US), Editas Medicine (US), CRISPR Therapeutics (Switzerland), Precision Biosciences (US).
Verified Market Research has segmented the Global Genome Editing Market On the basis of Technology, Application, Delivery Method, End-User, and Geography`.
Genome Editing Market, By Technology
Genome Editing Market, By Application
Animal Genetic Engineering
Cell Line Engineering
Plant Genetic Engineering
Genome Editing Market, By Delivery Method
Genome Editing Market, By End-User
Genome Editing Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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