Gene Editing Market Overview
The growing use of gene editing in medicines and the agricultural sector, the advancement of CRISPR-based testing equipment, and fast technological advances in genetic editing are likely to fuel market revenue growth throughout the forecast period.
Global Market is driven by the Increased RD expenditure and growth of biotechnology and pharmaceutical industries, increased funding for genomics research, increasing demand for synthetic genes, global rise in production of genetically modified crops and technological advancements. The restraints of the Gene Editing Market is strict regulatory policies and adverse public perception related to genetic research.
The Global Gene Editing Market is growing with the rapid pace; mainly due to the technological advancement in the healthcare sector. According to a recent study report published by the Market Research Future, The global market of Gene Editing Market is booming and expected to gain prominence over the forecast period. The gene editing market value is expected to grow at a CAGR (Compound Annual Growth Rate) of about 14.7% to reach USD 19.4 billion over the forecast 2022-2030.
Gene Editing or Genome editing is a type of genetic engineering where a DNA is inserted, deleted or replaced in the genome of an organism to treat a particular disease. Genes control heredity and provide the basic biological code to determine the specific function of a cell. It is a synthetic modification of chromosomal DNA by using molecular scissors. Cells have a unique mechanism to protect themselves from attack from viruses, fungi and bacteria. Inside each cell lies a group of special proteins, called restriction enzymes. Restriction enzymes cut the DNA of a foreign organism into pieces before it has a chance to damage the cell. These enzymes are just like scissors or termed as molecular scissors.Gene Editing has generated a lot of excitement in academia and drug development. Its promises are two-fold: the unique ability to correct genetic mutations that may cause disease; and its utility in creating and controlling genetic information within patient cells. Emerging science suggests that permanently fixing or “editing” mutated cells, or creating safer and more potent cell-based products with this technology could provide curative, one-time treatments for patients suffering from a broad range of diseases.
Regional Analysis
The regional analysis comprises of North America, Europe, Asia Pacific, Middle East and rest of the world. The Gene Editing market is dominated by North America due to the strong growth trend in the pharmaceuticals and biotechnology industries and is followed by Europe. The North American meat industry is among the largest in the world followed by European and Asia Pacific region. The crop and cattle industry forms the largest consumer of genome engineering services in the region, followed by equine, and canine breeding industry.
The Asian region is showing good opportunities in market due to the expansion of leading genome editing companies and increased RD spending. Emerging economies of Asia Pacific and Latin America are expected to show significant growth in the market due to an increase in the number of laboratories in these regions and development of existing ones for automation of various instrumentation systems. Also the pharmaceutical industries are also rapidly increasing which is also driving market in Asia region.
Competitive Analysis:
Gene Editing Market Players are Integrated DNA Technologies, Inc. (U.S.), GenScript USA Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Lonza Group Ltd. (Switzerland), New England Biolabs, Inc. (U.S.), Horizon Discovery Group plc (U.K.), Sangamo Biosciences, Inc. (U.S.), OriGene Technologies, Inc. (U.S.), Sigma-Aldrich Corporation (U.S.), and Transposagen Biopharmaceuticals, Inc. (U.S.)
Market Segmentation
To give the insight information on Global Gene Editing Market report, MRFR has segment the report in to 4 key dynamics –
Segmentation By Methods : Comprises Crispr, Talen, ZFN, Antisense technology and other.
Segmentation By End-Users : Comprises biotechnology and pharmaceutical companies, academic and government research institutes, and contract research organizations (CROs).
Segmentation By Applications: Comprises Plant genetic engineering, cell line engineering, animal genetic engineering, plant genetic engineering and other.
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
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