Newark, Nov. 01, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global genome editing market is expected to grow from USD 5.89 billion in 2022 to USD 20.47 billion by 2030, at a CAGR of 16.85% during the forecast period 2022-2030.
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The increase in demand for synthetic biology in both developing and developed nations is anticipated to expand the genome editing industry demand during the projection period. Moreover, the high prevalence of infectious disease and cancer, rapid advancements in sequencing & genome editing technologies, and applications of gene editing in multiple drug discovery processes are also helping to propel market growth. However, the stringent regulatory laws, high equipment costs, and negative public perceptions of genetic studies are restraining the market growth. Furthermore, the increasing synthetic gene demand in different biotechnology domains and the ever-increasing use of CRISPR genome editing technology are opportunities for market growth.
Competitive Strategy
To enhance their market position in the global genome editing market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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Market Growth & Trends
The growth of the genome editing market is driven by the growing preference for personalized medicine and the increasing prevalence of cancer and other genetic disorders. Moreover, technological advancement in the biotechnological field is the market growth trend. Also, genome editing technologies can change biological research & significantly affect human health, food security, and environmental sustainability since they are easy to use, precise, relatively inexpensive, and remarkably powerful. Further, the advancements in gene editing technology aid in developing efficient techniques to treat genetic diseases compared to conventional therapies. In addition, a significant rise in the R&D expenditure in the healthcare industry and the growth of the pharmaceutical & biotechnology industries are also the driving factor of the market growth. Further, the rising prevalence of cancer, growing rate of genetic disorders, sufficient funding from private & public bodies alike, and infrastructural superiority are also helping to boost the market growth.
• In 2022, the animal genetic engineering segment dominated the market with the largest market share of 41.21% and market revenue of 2.42 billion.
The application segment is divided into animal genetic engineering, cell line engineering, and plant genetic engineering. In 2022, the animal genetic engineering segment dominated the market with the largest market share of 41.21% and market revenue of 2.42 billion. This growth is attributed to the rapidly growing field of gene and stem cell therapy.
• In 2022, the CRISPR/Cas9 segment dominated the market with the largest market share of 43.09% and market revenue of 2.53 billion.
The technology segment is divided into TALENs, zinc finger nucleases (ZFNs), and CRISPR/Cas9. In 2022, the CRISPR/Cas9 segment dominated the market with the largest market share of 43.09% and market revenue of 2.53 billion. This growth is attributed to the increasing initiatives and funding by the government to develop vaccines, medical technologies, drugs, and devices.
• In 2022, the biotech and pharma companies segment dominated the market with the largest market share of 42.16% and market revenue of 2.48 billion.
The end-user segment is divided into contract research organizations (CROs), biotech and pharma companies, and research institutes. In 2022, the biotech and pharma companies segment dominated the market with the largest market share of 42.16% and market revenue of 2.48 billion. This growth is attributed to pharmaceutical companies' investment in new treatments.
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Regional Segment Analysis of the Genome Editing Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region occurred as the largest market for the global genome editing industry, with a market share of 46.34% and a market value of around 2.72 billion in 2022. North America dominates the genome editing market due to pharmaceutical and biotech investments. Moreover, the raised per capita income, the strong research and commercial base for different gene alteration tools, and better awareness about edges related to sequence pieces of writing are also helping to drive the region's market growth. In addition, the high adoption of molecular scissor tools across research and the rising investment in genome editing technologies are expected to propel the market growth in this region. Further, the Asia Pacific region is expected to show the fastest CAGR of 18.03% over the projection period. This growth is attributed to the increasing government funding for the biotechnology industry to improve illness treatment. In addition, the growing prevalence of various infectious diseases, the rising focus on R&D activities associated with gene therapy, and the high demand for genetically modified crops are also helping to boost the market growth in this region.
Key players operating in the global genome editing market are:
• Merck KGaA
• Thermo Fisher Scientific
• Lonza
• Sangamo Therapeutics
• GenScript
• Editas Medicine
• Tecan Life Sciences
• CRISPR Therapeutics AG
• Cellectis S.A
• Agilent Technologies
• Precision Biosciences
• Creative Biogene
• Bluebird Bio
• PerkinElmer
• Regeneron Pharmaceuticals
• Intellia Therapeutics
• Vigene Biosciences
• Transposagen Biopharmaceuticals
• Synthego
• Beam Therapeutics
• Caribou Biosciences
• Integrated DNA Technologies
• Recombinetics
• OriGene Technologies
• New England Biolabs
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global genome editing market based on below mentioned segments:
Global Genome Editing Market by Application:
• Animal Genetic Engineering
• Cell Line Engineering
• Plant Genetic Engineering
Global Genome Editing Market by Technology:
• TALENs
• Zinc Finger Nucleases (ZFNs)
• CRISPR/Cas9
Global Genome Editing Market by End-User:
• Contract Research Organizations (CROs)
• Biotech and Pharma Companies
• Research Institutes
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About the report:
The global genome editing market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
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