The global genome editing market size is expected to reach USD 30.23 billion in 2030 and register a CAGR of 18.2% over the forecast period, according to the latest report by Reports and Data
The global genome editing market size is expected to reach USD 30.23 billion in 2030 and register a CAGR of 18.2% over the forecast period, according to the latest report by Reports and Data. Key factors such as rising application of Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) genome in different fields of biotechnology and increasing investments by governments and private investors in biotechnology & biomedical research are driving market revenue growth. Genome editing, commonly known as gene editing or genome engineering is a process that allows researchers to change or modify gene sequences of living organisms.
Genome editing is widely used by pharmaceutical companies, biotechnology companies, and academic & government research institutes. Pharmaceutical companies segment accounted for majority revenue share in the global market in 2020. Increasing use of gene editing technology in pharmaceutical research & development activities is a major factor driving revenue growth of this segment.
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Based on regional analysis, North America is expected to account for largest revenue share over the forecast period. Major revenue growth contributors in this region are the United States and Canada. Factors such as rapid advancement in genome editing technologies, high demand for genetically modified crops, and increasing focus on R&D activities associated with gene therapy are expected to drive revenue growth of the market in this region.
Europe accounted for second-largest revenue share in the global market in 2020. Increasing investment in genome editing technologies is one of the key factors driving revenue growth of the market in this region.
Some Key Highlights From the Report:
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- In December 2019, Horizon Discovery Group launched its predesigned synthetic Single Guide RNA (sgRNA). It would enable researchers to obtain reliable gene knockouts in difficult-to-edit, complex cell types, and experimental models.
- Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) segment accounted for largest revenue share in the global market in 2020. CRISPR has various advantages such as ease of use, enhanced efficacy, and cost-effectiveness. Therefore, it is extensively used by researchers in gene alteration processes.
- Asia Pacific accounted for a 23.4% revenue share in the global market in 2020 and is expected to register fastest revenue CAGR compared to other regional markets over the forecast period. This can be attributed to rising prevalence of various infectious diseases.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Thermo Fisher Scientific, Merck & Co, Horizon Discovery Limited, Lonza, GenScript, Eurofins Scientific, Precision Biosciences, Oxford Genetics, Intellia Therapeutics, and Sangamo Therapeutics.
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Genome Editing Market Segmentation:
Technology Outlook (Revenue, USD Billion; 2019-2030)
- Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)
- Zinc-finger Nucleases (ZFNs)
- Transcription Activator-like Effector Nucleases (TALEN)
- Antisense
- Others
Product and Service Outlook (Revenue, USD Billion; 2019-2030)
- Software & Systems
- Reagents & Consumables
- Services
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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