NEW YORK, Nov. 29, 2021 /PRNewswire/ -- The "Genome Engineering Market by Technology and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the genome engineering market between 2020 and 2025 is USD 3.89 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver
- Market Challenges
The increasing applications of genome engineering in therapeutics and the increase in human genomics research are some of the key market drivers. The prevalence of chronic and infectious diseases such as malaria, tuberculosis, HIV/AIDS, and hepatitis has increased rapidly. The outbreak of COVID-19 has also surged the demand for vaccine development. Researchers are working on new gene-based therapies to reduce morbidity and mortality among HIV-infected patients. Genome engineering can provide therapeutic tools for this disease.
However, factors such as ethical issues and adverse public perception will challenge market growth. The benefits of genetic engineering may be far-reaching, and the impacts are not entirely known. When GMOs are released into the environment, they cannot be removed, and it may take centuries or decades to fully realize the consequences. The impact can affect the entire world and may not be restricted to those that created the organisms.
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The genome engineering market report is segmented by Technology (CRISPR, TALEN, ZFN, and others) and Geography (North America, Europe, Asia, and ROW). CRISPR technology segment led the market share in 2020 and will continue to dominate the market during the forecast period. CRISPR is a segment of prokaryotic DNA that contains short base sequence repetition. It is widely used to efficiently modify genes that are difficult to manipulate genetically in traditional ways. The low cost of this revolutionized technology has made it a perfect option for end-users such as pharmaceutical and biotechnology companies, government and academic research institutes, and contract research organizations.
In terms of geography, North America will be the leading region with 40% of the market's growth during the forecast period. The increase in funding for genomic R&D in precision medicine and personalized therapies drives the demand for genomic analyses in North America. The US is the key market for genome engineering in North America. The country is the first and the largest producer of genetically modified organisms (GMOs) in the world.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
- CRISPR Therapeutics AG
- Danaher Corp.
- GenScript Biotech Corp.
- Hera Biolabs Inc.
- Illumina Inc.
- Intellia Therapeutics Inc.
- Merck KGaA
- PerkinElmer Inc.
- Sangamo Therapeutics Inc.
- Thermo Fisher Scientific Inc.
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Genome Engineering Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 14.45%
Market growth 2021-2025
$ 3.89 billion
YoY growth (%)
North America, Europe, Asia, and ROW
Performing market contribution
North America at 40%
Key consumer countries
US, Germany, Canada, UK, China, and France
Leading companies, competitive strategies, consumer engagement scope
CRISPR Therapeutics AG, Danaher Corp., GenScript Biotech Corp., Hera Biolabs Inc., Illumina Inc., Intellia Therapeutics Inc., Merck KGaA, PerkinElmer Inc., Sangamo Therapeutics Inc., and Thermo Fisher Scientific Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Technology
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
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