The Global Genome Editing Market is expected to reach USD 11.59 Billion by 2027, according to the findings of a new report by Reports and Data. Genome editing refers to a genetic engineering method utilized for insertion, deletion, or modification in the genome of any organism. Genome editing has established its place as a promising tool with wide-ranging application of existing genetic engineering technologies, such as TALEN, while introducing new methods like CRISPR technology.
The market is driven by rising incidences of genetic diseases, increasing investment towards research & development in the field of genetic engineering, technological advancements in genetic engineering, for instance, advancements in CRISPR technology, increasing focus of the food industry on genetically-modified organisms, and rising awareness about the efficiency as well as applications of genetic engineering techniques. Globally, over 175 million hectares of land is being used for GM crop production. However, escalating stringency of the regulatory framework, ethical concerns revolving around gene editing research, applications, and uncertainty among end-users pertaining to the use of gene alteration therapies are expected to curtail market growth during the forecast period.
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Key findings from the report indicate:
- The CRISPR market is rising at a sizable CAGR of 30.9% in Asia Pacific, followed by North America and Europe. Increased application of genetic engineering for therapeutics will boost the demand for the market during the forecast period across all leading geographies.
- The TALEN market was valued at USD 1.81 billion in 2019 and is expected to reach the valuation of USD 2.03 billion by 2027. The benefits that TALEN offers, i.e., high degrees of precision and control will play a key role in the wide-scale adoption of the technology and will subsequently contribute to the future market growth.
- Asia Pacific is expected to record a CAGR of 15.8% in the forecast period. Developing economies of China and Japan are expected to witness substantial growth in the coming years.
- Regulatory policies governing the leading regions are a key factor for the adoption and growth of genetic editing in the regional markets.
- Key participants included in the report are Thermo Fisher Scientific Inc., Merck KGaA, GenScript, Horizon Discovery Group Plc, Integrated DNA Technologies, Inc, Lonza, New England Biolabs, and Sangamo Therapeutics, Inc.
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For this report, Reports and Data segments the Global Genetic Editing Market based on type, application, end-user, and region:
- Type Outlook (Revenue, USD Million, 2017 – 2027)
- Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)
- Transcription Activator-Like Effector Nucleases (TALEN)
- Zinc Finger Nucleases (ZFN)
- Application Outlook (Revenue, USD Million, 2017 – 2027)
- Animal Genetic Engineering
- Therapeutic Application
- Genetically Modified Organisms
- Plant Genetic Engineering
- Cell Line Engineering
- Animal Genetic Engineering
- End User Outlook (Revenue, USD Million, 2017 – 2027)
- Pharma-Biotech Companies
- Academic Institutes & Research Center
- Agrigenomic Companies
- Contract Research Organizations
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/genome-editing-market
- Regional Outlook (Revenue, USD Million, 2017 – 2027)
- North America
- Rest of the Europe
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East & Africa
- North America
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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