(I-BusinessNews.Com, July 23, 2020 ) The key factors propelling the growth of this market are rising government funding and growth in the number of genomics projects, high prevalence of infectious diseases and cancer, technological advancements, increasing production of genetically modified crops, and growing application areas of genomics.
According to research report the global genome editing market is projected to reach $6.28 billion by 2022 from $3.19 billion in 2017, at a CAGR of 14.5% during the forecast period.
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•Based on technology, the genome editing market is segmented into CRISPR, TALEN, ZFN, antisense, and other technologies (PiggyBac, Flp-In, Adenine Base Editor (ADE), and Jump-In). The CRISPR segment is expected to register the highest growth during the forecast period.
•The global genome editing market, by application, is segmented into cell line engineering, genetic engineering, and other applications (diagnostics and therapeutics). The cell line engineering segment is estimated to register the highest growth rate during the forecast period.
•Based on end user, the global genome engineering market is segmented into biotechnology & pharmaceutical companies, academic & government research institutes, and contract research organizations.
Recent Developments:
> In 2020, New England Biolabs collaborated with ERS Genomics to develop and commercialize CRISPR gene editing tools and reagents
> In 2019, Thermo Fisher Scientific acquired Brammer Bio to access Brammer Bio’s expertise in manufacturing vectors for genes and cell therapies
> In 2019, Horizon Discovery launched predesigned synthetic single-guide RNA (sgRNA) to aid researchers in achieving targeted gene knockouts and conducting DNA-gene free editing
The major companies in the genome editing market include Thermo Fisher Scientific (US), Merck (Germany), Horizon Discovery Limited (UK), Lonza (Switzerland), GenScript (US), Eurofins Scientific (Luxembourg), Sangamo Therapeutics (US), Editas Medicine (US), CRISPR Therapeutics (Switzerland), Precision Biosciences (US), Oxford Genetics (UK), Intellia Therapeutics (US), Synthego (US) & Others
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The Genome Engineering Market is divided into four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share of the global genome editing market. The market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period, primarily due to increasing investments in research and the application of gene synthesis for genetic engineering in cells, tissues, and organisms.
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