Growing Application Areas of Genomics - Gene Editing Market Developments
Market growth influenced due to following factors-
- Rising government funding and growth in the number of genomics projects.
- High prevalence of infectious diseases and cancer.
- Growing application areas of genomics.
Global market size-
According to research report the Gene Editing Market is projected to reach $11.2 billion in 2025 from USD 5.1 billion in 2020, at a CAGR of 17.0 %
The major companies in the genome editing/genome engineering market include Thermo Fisher Scientific (US), Merck (Germany), Horizon Discovery Limited (UK), Lonza (Switzerland), GenScript (US), Eurofins Scientific (Luxembourg), and Sangamo Therapeutics (US).
Top Market Segments-
Based on technology, the genome engineering 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.
Based on application, the genome editing/genome engineering market is segmented into cell line engineering, genetic engineering, diagnostic applications, drug discovery & development, and other applications. A number of factors, such as the increased funding from governments and private organizations, growing industry focus on stem cell research, and global awareness are driving market growth in this segment.
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Geographic Overview -
The 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/genome engineering market, closely followed by Europe. The large share of North America can be attributed to factors such as the development of gene therapy in the US, the increasing use of genetically modified crops, the rising prevalence of infectious diseases and cancer, and the availability of research grants and funding.