Selbyville, Delaware, May 24, 2022 (GLOBE NEWSWIRE) --
The gene editing market value is expected to reach USD 19.9 billion by 2030, according to a new research report by Global Market Insights Inc. Rising government initiative to support for the better treatment of genetic disorders will drive the overall industry progression.
Surging research and development expenditure by research institutes as well as biotechnological and pharmaceutical companies will positively impact the market expansion. Some of the biopharmaceutical organizations have raised their R&D funding for operations and expenditures that enables availability of advanced technological gene editing tools in a cost-effective manner. Similarly, several countries are investing on CRISPR-Cas9 technology. As, it is one of the most preferred gene editing tools for its efficiency in gene slicing with its simplicity that proves applicable for the development of the industry.
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Gene editing market from TALENs segment is projected to exhibit 15.3% CAGR during the analysis timeframe. TALENs were the first device that were designed and built with relative ease to target any genomic locus with increased precision and high efficiency. TALENs are widely used for genome editing in crops. Recently improved rice seeds have been engineered with TALENs that created various traits such as fragrance and storage tolerance. Hence, increasing adoption of these innovative gene editing tools by researchers for various purposes will positively influence the segment revenue.
Some major findings of the gene editing market report include:
- Growing prevalence of genetic diseases globally will fuel the market revenue.
- Increasing application of gene editing in various industries such as agricultural biotechnology, therapies, mutations, and others will surge the demand for gene editing technology.
- Growing awareness regarding gene editing technology in developing countries along with presence of numerous business players in this industry will accelerate the market progress.
- North America dominated the overall gene editing industry, and the trend will continue to rise in the coming future as well.
- Stringent government regulations may hinder the business expansion to certain extent.
Browse key industry insights spread across 130 pages with 103 market data tables & 14 figures & charts from the report, “Gene Editing Market Analysis By Application (Cell Line Engineering, Animal Genetic Engineering, Plant Genetic Engineering), By Technology (CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), TALENs), By End-user (Biotech and Pharma Companies, Contract Research Organizations (CROs), Research Institutes), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/gene-editing-market
Gene editing market from plant genetic engineering segment accounted for 18.8% business share in 2021 and is set to register a significant CAGR through 2030 owing to rising demand for genetically modified crops. Genetically modified crops are beneficial for use of less pesticides, faster growing plants, medicinal foods, as well as food with desired traits. Also, nutritional content is improved, and genetically modified foods have a longer shelf life. Such factors will boost the market forecasts.
Contract research organizations (CROs) segment surpassed USD 1.2 billion in 2021. Many contract research organizations are focusing to develop advanced gene editing tools such as CRISPR/Cas9 and TALENs. PSI, and ACF Bio, Med pace services are some of the major contract research organizations focusing and working on the development of advanced gene editing tools.
Asia Pacific gene editing market held around USD 1.1 billion in 2021. Rising number of research organizations in the emerging countries will augment the regional industry scenario. Major companies are inclining towards development of gene editing techniques will fuel the regional industry growth. Moreover, increasing research and development activities in Japan, China, and India will propel the regional market trends.
Some of the major industry players in gene editing industry include Integrated DNA Technologies, Inc., Sangamo Therapeutics, Horizon Discovery Ltd., Inc., GenScript, Precision Biosciences, Bearn Therapeutics, Intellia Therapeutics, Inc., Thermo Fisher Scientific Inc., CRISPR Therapeutics, Caribou Biosciences, Inc.
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
