Genome Editing Market Size to Throw Innovation-Based Surprises
"The genome editing/genome engineering market is projected to grow at a CAGR of 14.5%."
The global genome editing market is projected to grow at a CAGR of 14.5% and reach $6.28 billion by 2033. Key factors driving the growth of this market include increased government funding and the growing number of genomics projects, high prevalence of infectious diseases and cancers, technological advancements, increasing production of GMOs, and growth in genomics applications.
"The CRISPR segment is expected to exhibit the highest growth rate during the forecast period."
By technology, the CRISPR segment is categorized 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 over the forecast period The ease of use associated with CRISPR technology is a major advantage over ZFNs and TALENs, especially when generating large vector sets targeting numerous sites or genome-wide libraries. guide RNAs in parallel, allowing multiple sites to be targeted simultaneously in the same cell. This makes it easier to mutate multiple genes at once or create precise deletions in genomic regions.
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"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 segmented into pharmaceutical and biotechnology companies, academic and government research institutions, and contract research organizations. The pharmaceutical and biotechnology companies segment is estimated to grow at the fastest rate during the forecast period. Rising incidence of infectious diseases and cancer is driving research activities globally, which is expected to fuel the demand for genome editing in biotech and pharmaceutical companies.
"North America is expected to dominate the genome editing/genome engineering market and is projected to grow at the highest CAGR during the forecast period."
The North America region is expected to account for the largest share of the global market in 2017. This regional segment is also projected to grow at the highest CAGR during the forecast period. The region's large share and high growth rate can be attributed to factors such as the development of gene therapy in the U.S., increasing use of GMOs, rising prevalence of infectious diseases and cancer, and increasing research grants and funding.
A breakdown of the major participating companies is as follows
- By company type - Tier 1: 56%, Tier 2: 35%, Tier 3: 9
- By position - C-level: 27%, Director-level: 15%, Other: 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 key companies operating in this market.
The report analyzes the market and aims to estimate the market size and future growth potential of this market based on various segments such as technology, application, end user, and geography. The report also includes detailed regulatory analysis for each region of the world and competitive analysis of key companies in this market, along with company profiles, product offerings, recent developments, and key market strategies.
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This report will help established companies as well as new entrants and smaller companies to gauge the pulse of the market and, in turn, gain a larger market share. Companies purchasing this report may use any or a combination of the following strategies.
This report discusses the following points
- Market Penetration. Comprehensive information on the product portfolios offered by the top players in the global genome editing/genome engineering market
- Product Enhancement/Innovation. Detailed insights into future trends and product launches in the global genome editing/genome engineering market
- Market Development. Comprehensive information on lucrative emerging markets by technology, application, end user, and geography
- Market Diversification. In-depth information on new products and product enhancements, growth regions, 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 key players in the global market
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