The global genome editing market is expected to grow at a CAGR of 14.5% to reach to USD 6.28 billion by 2022
NEW YORK, Nov. 27, 2017 /PRNewswire/ --
"The genome editing/genome engineering market is projected to grow at a CAGR of 14.5%."
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The global genome editing market is expected to grow at a CAGR of 14.5% to reach to USD 6.28 billion by 2022. The key factors propelling the growth of this market are rising government funding and growth in the number of genomics projects, high prevalence of infectious diseases and cancer, technological advancements, increasing production of genetically modified crops, and growing application areas of genomics.
"The CRISPR segment is expected to grow at the highest rate during the forecast period."
By technology, the market is segmented into CRISPR, TALEN, ZFN, antisense, and other technologies (PiggyBac, Flp-In, Adenine Base Editor (ADE), and Jump-In). The CRISPR segment is estimated to grow at the highest CAGR during the forecast period. The ease of use associated with the CRISPR technology is a significant advantage over ZFN and TALEN, especially in generating a large set of vectors to target numerous sites or even genome-wide libraries. Another potential advantage of CRISPR is its ability to multiplex, that is, to use multiple guide RNAs in parallel to target multiple sites simultaneously in the same cell. This makes it easier to mutate multiple genes at once or engineer precise deletions in a genomic region.
"The pharmaceutical and biotechnology companies segment is expected to be the fastest growing end-user segment."
On the basis of end user, the market is classified into pharmaceutical and biotechnology companies, academic & government research institutes, and contract research organizations. The pharmaceutical and biotechnology companies segment is estimated to grow at the fastest rate during the forecast period. The increasing prevalence of infectious diseases and cancer are driving research activities worldwide; this is expected to drive the demand for genome editing in biotechnology & pharmaceutical companies.
"North America to dominate the genome editing/genome engineering market and is projected to grow at the highest CAGR during the forecast period."
The North American region is expected to hold the largest share of the global market in 2017. This regional segment is also expected to grow at the highest CAGR during the forecast period. The large share and high growth rate of this region can be attributed to factors such as the development of gene therapy in the US, increasing use of genetically modified crops, rising prevalence of infectious diseases and cancer, and rising availability of research grants and funding.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1: 56%, Tier 2: 35%, and Tier 3: 9%
• By Designation – C-level: 27%, Director Level: 15%, Others: 58%
• By Region – North America: 37%, Europe: 23%, Asia Pacific: 25%, RoW: 15%
Thermo Fisher Scientific (US), Merck KGaA (Germany), and Horizon Discovery Group (UK) are some of the major players operating in the market.
Research Coverage:
The report analyzes the market and aims at estimating the market size and the future growth potential of this market based on various segments such as technology, application, end user, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global genome editing/genome engineering market
• Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global genome editing/genome engineering market
• Market Development: Comprehensive information about the lucrative emerging markets by technology, application, end user, and region
• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global genome editing/genome engineering market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global market
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