Global Genome Editing Market Report 2022 In-Depth Market Analysis and Future Prospects Till 2031
Kenneth Research, in its repository of market research reports, have recently added a report on Global Genome Editing Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global Genome Editing Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Genome Editing Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Genome Editing Market – Drivers, Restraints, Opportunities, Trends, and Forecast, 2019–2025
[98 pages report] This market research report includes a detailed segmentation of the global genome editing market – by technology (CRISPR, TALEN, ZFN, and Others), by application (Cell Line Engineering, Genetic Engineering, and Others), By end-user (Research Institutes, Biotechnology and Pharmaceutical Companies, and Contract Research Organizations), by regions (North America, Europe, Asia Pacific, and Rest of the World).
Overview of the Global Genome Editing Market
Infoholic’s market research report predicts that the “Global Genome Editing Market” will grow at a CAGR of 14.4% during the forecast period. The market has witnessed steady growth in the past few years with the development in technology and the introduction of highly sensitive, robust, and reliable systems in the market. The market is fueled due to increase in genetic disorders, increasing investment and funds, and technological advancements in genome editing.
The market continues to grow and is one of the increasingly accepted market in many countries worldwide. Vendors are focusing towards obtaining funds and collaborating with universities to enlarge their research and development capabilities. The majority of the revenue is generated from the leading players in the market with dominating sales of ThermoFisher Scientific, GenScript Corp., Sangamo Therapeutics, Lonza Group, and Horizon Discovery Group plc.
According to Infoholic Research analysis, North America accounted for the largest share of the global genome editing market in 2018. US dominates the market with majority of genome editing companies being located in this region. However, China has not been too far behind and has great government support for the research in genome editing field.
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By Technology:
• CRISPR
• TALEN
• ZFN
• Others
In 2018, the CRISPR segment occupied the largest share due to specific, effective, and cost-effective nature of the technology. Many companies are focusing on providing genome editing services. For instance, in January 2019, Horizon Discovery extended CRISPR screening service to primary human T cells.
By Applications:
• Cell Line Engineering
• Genetic Engineering
• Others
In 2018, the cell line engineering accounted the maximum share followed by genetic engineering. Increase in the number of people suffering with genetic disorders has driven the growth of the genome editing market.
By End Users:
• Research Institutes
• Biotechnology and Pharmaceutical Companies
• Contract Research Organizations
In 2018, the biotechnology and pharmaceutical companies gained the highest market share for genome editing market due to increased pervasiveness of cancer and infectious diseases are driving research goings-on in biotechnology & pharmaceutical companies segment.
By Regions:
• North America
• Europe
• APAC
• ROW
The market is dominated by North America, followed by Asia Pacific and Europe. The major share of the North America market is from the US due to quick adoption of new and advanced technologies.
Genome Editing Market Research Competitive Analysis – The market is extremely fragmented with several smaller companies struggling for market share. Big pharmaceutical establishments have also united with venture capitalists to provide funding to the start-ups. In 2015, Bayer financed 335 million and in the very same year, Celgene combined with Abingworth invested 64 million in CRISPR Therapeutics. The NIH recently granted 21 somatic cell genome editing grants of almost 86 million over the next half a decade. These endowments are the foremost to be granted through the Somatic Cell Genome Editing (SCGE) program that was initiated in January 2018 with NIH Common Fund.
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The companies are collaborating and licensing to increase their capabilities in the market. CRISPR, TALEN, ZFN, Meganuclease, ARCUS, and RTDS are some of the key technology areas concentrated by key players in the market. Since 2015, the deals on the CRISPR technology has drastically increased.
Key vendors:
• ThermoFisher Scientific
• GenScript Corp.
• Sangamo Therapeutics
• Lonza Group
• Horizon Discovery Group plc
• Merck KGaA
• Transposagen Biopharmaceutical
• CRISPR Therapeutics
• Editas Medicine
• Integrated DNA Technologies
• New England Biolabs
• Origene Technologies, Inc.
Key competitive facts –
• Genetic editing technologies are intensely evolving from previous two decades and has facilitated in the variation of genome further rapidly and in a less expensive technique.
• The US is the leader in the CRISPR technology, while the market for TALEN genome editing technology is dominated by China.
Benefits – The report provides complete details about the usage and adoption rate of genome editing market. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives towards the healthcare segment in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.
Key Takeaways:
• Understanding the potential market opportunity with precise market size and forecast data
• Detailed market analysis focusing on the growth of genome editing industry
• Factors influencing the growth of genome editing market
• In-depth competitive analysis of dominant and pureplay vendors
• Prediction analysis of genome editing market in both developed and developing regions
• Key insights related to major segments of the genome editing market
• Latest market trend analysis impacting the buying behavior of the consumers
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