Genome editing market is projected to grow at a CAGR of 12.39% during the forecast period, reaching a total market size of US$6.385 billion in 2024 from US$3.168 billion in 2018. Genome editing or gene editing is a group of technologies that give scientists the ability to change an organism's DNA by adding, removing, or altering genetics. Rising government funding and increasing genomics projects are boosting the growth of the market. The growing prevalence of cancer and other diseases and technological advancements in genome editing is also uplifting market growth. Increase in R&D expenditure and growth of biotechnology and pharmaceutical industries will also propel the market growth. However, the negative perception of people about genome editing coupled with UNESCO scientists advocating for the ban of genome editing can hamper the market growth. Geographically, North America region has a significant market share on account of the increasing use of genetically modified crops and the increasing focus on the development of gene therapies in the region. Early introduction of technology coupled with highly skilled labor and workforce, developed health infrastructure and presence of key market players are driving the market in the region.
The “Genome editing market – Forecasts from 2019 to 2024” is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by technology, application, and geography.
The genome editing market has been segmented based on technology, application and geography. Based on technology the market has been segmented into CRISPR, TALEN, and ZFN. Based on application the market has been segmented into cell line engineering, animal genetic engineering, and plant genetic engineering.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the genome editing market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the genome editing market.