Genes control heredity and provide the basic biological code that determines the specific function of the cell. Gene Editing is defined as a bimolecular method for targeted modification of DNA that includes genetic materials of animals, humans, and plants. Market Research Future (MRFR) has published a research report about the global gene editing market that anticipates enormous expansion for this market with 18.30% CAGR (Compound Annual Growth Rate) for this market between 2017 and 2023.
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Analyzing the market structure, this report offers insights about factors affecting the market growth. Providing historical and forecast revenue, it evaluates market size. Profiling the key players in the market, this report covers and observes their competitive developments that include joint ventures, mergers and acquisitions, new product developments, research and developments (R & D), and strategic alliances.
The key factor driving the global gene editing market is the ability to change the disease-causing genetic mutations. This method helps to create and control genetic information within patient cells. Therefore, now gene editing is important for both drug discovery as well as diagnostics. The precision medicines based on gene editing-based diagnostics are driving the growth of the market. However, the adverse public perception related to genetic research and strict regulatory policies by the government can hamper market growth.
The global gene editing market has been segmented on the basis of applications, end user, methods, and lastly, region. Based on the applications, this market has been segmented into animal genetic engineering, gene therapy, microorganism’s genetic engineering, and plant genetic engineering. In the context of the end user, the market has been segmented into biotechnology, pharmaceuticals and contract research organizations. The method-based segmentation segments the market into Antisense technology, clustered regularly interspaced short palindromic repeats (CRISPR), transcription activator-like effector nucleases (TALEN), zinc finger nuclease (ZFN).
The regional segmentation of the global gene editing market segments the market into the continent-based regional markets namely The Americas (North America & South America), Asia Pacific, Europe, and Middle East & Africa (MEA). In the Americas, North America is a bigger market than South America due to advanced technology and better healthcare facilities. The Americas is the largest regional market as North America alone holds the potential to be the largest market due to its strong economies namely the United States of America (USA) and Canada. North America is a powerful market due to the presence of many major market players in this region, especially in the USA. In North America, the reasons for market growth include the development of the biotechnology sector, a huge development in drug discovery research, and an increase in the number of research studies.
Europe is another important market because here, investment in the advancement of technology for better treatment solutions has always been regular. After North America, Europe has the most advanced medical facilities. Due to the reasons same as The Americas, Western Europe as a market is bigger than Eastern Europe. In Europe, the most important country-specific markets are France, Germany, Spain, Italy, and the United Kingdom (UK), followed by the rest of Western Europe.
According to the report, the Asia Pacific is expected to witness the highest growth rate for the life science market. Increasing government support can boost biotechnology sector for better treatment of diseases. The primary country-specific markets in this region are Australia, China, India, Japan, and South Korea, followed by the rest of Asia Pacific. The MEA region is a small market due to lack of awareness, lack of education, lack of technological development, political instability, poor healthcare facilities, and healthcare not considered a priority by most governments.
Key Players
The key players in the global gene editing market include GenScript USA Inc. (USA), Horizon Discovery Group PLC (UK), Integrated DNA Technologies Inc. (USA), Lonza Group Ltd. (Switzerland), New England Biolabs Inc. (USA), OriGene Technologies, Inc. (the USA), Sangamo Biosciences, Inc. (the USA), Sigma-Aldrich Corporation (USA), Thermo Fisher Scientific, Inc. (the USA), and Transposagen Biopharmaceuticals, Inc. (USA).
Latest Industry News
Japan is set to approve a controversial gene editing of human embryos. 7 OCT 2018
ERS Genomics Limited and DefiniGEN Ltd has signed a license agreement to provide DefiniGEN with access to ERS Genomic’s CRISPR/Cas9 genome editing technology patents. 1 NOV 2018
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