Allied Market Research recently published a report, titled, "Genome Editing Market by Application (Cell Line Engineering, Genetic Engineering, Drug Discovery, Gene-modified Cell Therapy, Diagnostics, and Other Applications), Technology (CRISPR, TALEN, ZFN, and Other Technologies), and End User (Academics & Government Institutes, Biotechnology & Pharma Companies, and Contract Research Organizations): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global genome editing industry accounted for $4.81 billion in 2020, and is expected to reach $36.06 billion in 2030, growing at a CAGR of 22.3% from 2021 to 2030.
Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/12810
Drivers, restraints, and opportunities
Rise in adoption of genome editing applications, increase in prevalence of cancer & other genetic disorders, availability of government funding & growth in genomics projects, and technological advancements in gene-editing tools drive the growth of the global genome editing market. However, ethical issues regarding genome editing hinder the market growth. On the contrary, presence of major market players in developing countries and application in various drug discovery processes are expected to open lucrative opportunities in the future.
Covid-19 scenario:
The covid-19 pandemic disrupted workflow in the healthcare sector. The spread of diseases forced several industries to close their facilities including sub-domains of healthcare.
However, the use of CRISPR was favored during the pandemic and technologies based on naturally occurring bacterial gene-editing systems played a vital role to come up with the best defense against Covid-19.
On the other hand, optimum utilization of the workforce and gene editing for human benefit are some of the challenges that researchers face. Thus, CRISPR-based diagnostic tools to reduce the impact of the Covid-19 gained importance.
The CRISPR segment dominated the market
By technology, the CRISPR segment held the largest share in 2020, accounting for nearly three-fifths of the global genome editing market. Moreover, the segment is expected to showcase the highest CAGR of 24.2% during the forecast period, due to ease of use associated with CRISPR. The report includes an analysis of segments such as TALEN, ZFN, and others.
The biotechnology & pharma companies held the largest share
By end user, the biotechnology & pharma companies dominated the market in terms of revenue in 2020, contributing to nearly two-thirds of the global genome editing market. This is due to rise in prevalence of infectious diseases and cancer. However, the academics and government institutes segment is expected to register the highest CAGR of 22.8% during the forecast period.
Enquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/purchase-enquiry/12810
North America held the lion's share
By region, the global genome editing market across North America held the largest share in 2020, contributing to nearly half of the market. This growth is due to development of gene therapy in the U.S., surge in use of genetically modified crops, and increase in prevalence of infectious diseases coupled with availability of research grants and funding. However, the market across Asia-Pacific is expected to register the highest CAGR of 25.2% during the forecast period, owing to rise in funding for genome editing and medical genetics in developing countries in the region.
Major market players
Agilent Technologies
Danaher
CRISPR Therapeutics
Editas Medicine
Eurofins Scientific
Horizon Discovery Limited
GenScript
Merck
Thermo Fisher Scientific.
Lonza
About Us:
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 domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
