As per the analysts at Zion Market Research, the global gene editing market was capitalized at around $4.02 billion in 2019 and is projected to reach about $7 billion by 2026, expanding at around 14.6% CAGR during the forecast period. The prominent players active in the — global genome editing market include New England Biolabs, Thermo Fisher Scientific, CRISPR Therapeutics, Merck KgaA, GenScript Corporation, Sangamo Therapeutics, Inc., Editas Medicine, Integrated DNA Technologies, Lonza Group, Horizon Discovery Group, and OriGene Technologies.
Rising Range Of Application To Surge The Demand For Gene Editing In Coming Period
The global gene editing market is expanding swiftly owing to its rising application in a huge range of domains, like therapeutics, agriculture biotechnology, and mutation. Gene editing methods present bigger avenues in crop improvement. Nevertheless, the actual prospective of homologous recombination for crop enhancement is yet to be recognized in targeted gene replacement therapy. Homologous recombination is anticipated to be utilized as an efficient technique for crop enhancement, which is impracticable via transgene addition. Further, the increase in the count of applications along with rising disease incidences is projected to bring up new opportunities for the global gene editing market in the coming period. On the other hand, for years, the debate on genetic modification of the human germline for therapeutic reason has continued. Ethical concerns, including worries for animal welfare, can occur at every stage of life span and generation of the genetically engineered animal. These factors are likely to hamper the growth of the global gene editing market.
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North America To Continue Its Dominance Over The Global Market During The Forecast Period
The global genome editing market is categorized on the basis of application, technology, end-user, and region. The gene editing market, based on technology, is classified into TALEN, CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), and other technologies. Based on application, the market is segmented into animal genetic engineering, cell line engineering, plant genetic engineering, and others. The genome editing market, on the basis of end-user, is classified into contract research organization (CRO), biotech & pharma companies, and research institutes.
Regionally, North America is anticipated to carry on its supremacy over the global gene editing market on account of the elevated government financial support for study genetic modification. Increasing drug development and discovery activities, together with increasing government plans to sponsor startups and small firms in the life sciences and biotechnology industry is the key factor anticipated to fuel the North American gene editing market during the forecast period. Further, Asia Pacific is also expected to witness swift market growth in the coming period as a result of the increased spending by this region’s prominent players.
The global gene editing market is segmented as follows:
Animal Genetic Engineering
Cell Line Engineering
Plant Genetic Engineering
Contract Research Organization (CRO)
Biotech & Pharma Companies
Zinc Finger Nucleases (ZFNs)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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