Portland, OR, July 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global gene editing market was estimated at $3.9 billion in 2021, and is anticipated to hit $7.4 billion by 2031, registering a CAGR of 6.7% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Increased R&D expenditure in gene editing in BRICS countries, growth of the biotechnology and pharmaceutical industries, increase in private and public sector funding for gene editing, rapid advancements in sequencing and genome editing technologies, non-labelling of gene-edited products such as Genetically Modified Organisms (GMOs) and applications of gene editing in various drug discovery processes drive the growth of the global gene editing market. However, the high cost of genomic equipment is a factor that act as a restraint for the market growth. Moreover, the growing demand for synthetic genes for medicine development to cure cancer is expected to provide opportunities for the growth of the gene editing market in future.
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COVID-19 Impact Analysis on Gene Editing Market-
- The Covid-19 outbreak had a positive impact on the gene editing market as it has driven biotechnology firms to invest in the gene editing space to develop rapid molecular diagnostic tests.
- In search for new ways to combat SARS-CoV-2, the novel coronavirus that causes Covid-19, researchers are studying the potential of gene-modification tools such as CRISPR as a potential rapid screening solution for the COVID-19 genome.
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The global gene editing market is analyzed across the segments such as technology, application, end user and region.
Based on technology, the CRISPR-Cas9 gene editing segment accounted for nearly two-fifths of the global market share in 2021 and is anticipated to rule the roost by 2031. The same segment would cite the fastest CAGR of 7.9% in 2031.
Based on application, the gene editing segment captured more than one-fourth of the overall market share in 2021 and is likely to maintain its lead status through 2031. The same segment would grow at the highest CAGR of 8.2% during the forecast period.
By region, North America held the major share in 2021, generating over two-fifths of the global market. The Asia-Pacific region, however, would grow at the fastest CAGR of 7.7% by 2031.
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The key players analyzed in the global gene editing market include Addgene, Allele Biotech, Bio-Rad Laboratories, CRISPR Therapeutics, General Electric, OriGene Technologies, Precision Biosciences, Takara Biotech, Thermofischer Scientific Inc., and Transposagen Biopharma Inc.
We also Offers Regional and Country Reports-
- Japan Gene Editing Market
- South Korea Gene Editing Market
- Singapore Gene Editing Market
- China Gene Editing Market
- Indonesia Gene Editing Market
- Australia Gene Editing Market
- Taiwan Gene Editing Market
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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