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“Rising government funding and increase in the number of genomic projects, especially in the area of rare diseases, and a growing application horizon are all expected to drive the growth of the genome editing/genome engineering market.”
The global genome editing/genome engineering market is projected to reach USD 11.2 billion in 2025 from USD 5.1 billion in 2020, at a CAGR of 17.0 % during the forecast period. Market growth is largely driven by factors such as the rise in government funding, growth in the number of genomics projects, high prevalence of infectious diseases & cancer, technological advancements, increasing production of genetically modified crops, and growing application areas of genomics. However, the high cost of genomic equipment will restrain the growth of this market.
“CRISPR commanded the largest share of the market in 2019.”
Based on technology, the market is segmented into CRISPR, TALEN, ZFN, antisense, and other technologies. CRISPR accounted for the largest share of the genome editing/genome engineering market in 2019. The large share of this segment can be attributed to the ease of use associated with the CRISPR technology and its ability to multiplex.
“Pharmaceutical companies commanded the largest share of the genome editing/genome engineering market in 2019.”
By end user, the genome editing/genome engineering market is segmented into pharmaceutical companies, biotechnology companies, and academic & government research institutes. The pharmaceutical companies segment accounted for the largest share of the market. The pharmaceutical companies segment accounted for the largest share of the genome editing/genome engineering market in 2019. This is due to the increasing prevalence of infectious diseases and cancer, which is driving research in the pharma sector for drug development.
“The Asia Pacific region will register the highest growth in the global genome editing/genome engineering market during the forecast period.”
The Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as the rapid growth in the pharmaceutical and biopharmaceutical industry, the rising number of genomic projects, and the presence of a genetically diverse population have supported the region’s high growth rate.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other directors, and executives from various key organizations operating in the genome editing/genome engineering market.
- By Respondent Type: Supply Side (80%) and Demand Side (20%)
- By Designation: D-level (55%), C-level (20%), and Others (25%)
- By Region: North America (50%), Europe (20%), Asia Pacific (20%), and RoW (10%)
The major companies in the genome editing/genome engineering market include Thermo Fisher Scientific (US), Merck (Germany), Horizon Discovery Limited (UK), Lonza (Switzerland), GenScript (US), Eurofins Scientific (Luxembourg), and Sangamo Therapeutics (US).
The study includes an in-depth competitive analysis of these key players in the genome editing/genome engineering market, along with their company profiles, recent developments, and key market strategies.
The market study covers the genome editing/genome engineering market across various segments. It aims at estimating the market size and the growth potential of this market across different segments, such as products, technology, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- The report will help market leaders/new entrants in this market and provide information on the closest approximations of the revenue numbers for the overall genome editing/genome engineering market and its subsegments.
- This report will help stakeholders to understand the competitive landscape, gain insights to better position their businesses, and plan suitable go-to-market strategies.
- The report will also help stakeholders to understand the pulse of the market and provide information on the key market drivers, restraints, opportunities, and challenges.