Selbyville, Delaware, Aug. 17, 2020 (GLOBE NEWSWIRE) -- According to credible estimates, global genome editing /genome engineering market generated revenues worth USD 4.4 billion in the year 2019 and to reach USD 15.30 billion at a growth rate of 17% between 2020 and 2027. The growth is majorly attributed to easy availability of federal funding and increasing number of genomics projects.
The research document also evaluates different segments and their individual impact on the overall industry remuneration. Apart from this, the study measures the regional and the competitive scope of the market, which further allows for improved decision-making during investment assessment.
Citing an instance, University of Genome Canada Bioinformatics & Computational Biology, University of Guelph and other eligible sources allotted around USD 12 million funding for various genome-centric research projects in the year 2017.
For those uninitiated, genome engineering procedure involves insertion, deletion and modification of genome of a microorganism. The technique is widely adopted in biotechnology and biopharmaceutical industries to change the genome of microorganism in order to conduct processes including fermentation to achieve desired product. Genome editing is also used for analyzing DNA cells of organisms in an effort to understand their respective biology as well as to treat autoimmune and infectious diseases.
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Favorable government initiatives have augmented the demand for genome engineering, which in turn is stimulating the industry outlook. In fact, Japan Agency of Medical Research & Development Organization stated that the Japanese government launched numerous initiatives including Tohoku Medical Megabank Project in 2017 to offer adequate genome research infrastructure.
The major companies operating in this industry vertical are focusing on various business-centric strategies such as innovative product launches, technological investments & advancements, and others in order to gain a competitive edge. However, high equipment cost may act as a restraining factor to the growth of global genome engineering/genome editing market.
Summarizing the market segmentations
The technology landscape of global genome editing/ genome engineering market comprises of ANTISENSE, ZFN, TALEN, CRISPR. and others. Moving on to product & services type, the industry is bifurcated into services, software & systems, and reagents & consumables.
The application scope of the market consists of drug discovery & development, diagnostics applications, genetic engineering, cell line engineering, and others. Citing the end-user spectrum, worldwide genome engineering/genome editing market is segmented into academic & government research institute, biotechnology companies, and pharmaceutical companies.
Highlighting the regional scope
The report divides global genome engineering/genome editing market into North America, Europe, Asia-Pacific, Latin America and rest of the world, while focusing on U.S., Canada, Italy, Spain, France, Germany, U.K., India, China, Japan, Australia, South Korea, Brazil, and Mexico among others.
Estimates cite that North America accounted for a significant market share in the recent past and is anticipated to witness consistent growth during the forecast period. Increasing development of gene therapy technologies in the U.S. coupled with high occurrence of cancer and other infectious diseases are augmenting the regional demand. Additionally, inflowing research funding & grants and rising adoption of genetically modified crops are facilitating the business scenario in North America.
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Elaborating on the competitive scenario
Precision Biosciences Inc., Eurofins Scientific, CRISPR Therapeutics, Editas Medicine, Lonza Group AG, Sangamo Therapeutics Inc., Genscript Corp., Horizon Discovery Group plc, Merck & Co. Inc., and Thermo Fisher Scientific Inc. are the major contenders in worldwide genome engineering/genome editing market.
Global Genome Editing/Genome Engineering Market by Technology Type (Revenue, USD Billion, 2017-2027)
- ANTISENSE
- ZFN
- TALEN
- CRISPR
- Other Technologies
Global Genome Editing/Genome Engineering Market by Product & Services Analysis (Revenue, USD Billion, 2017-2027)
- Services
- Software & Systems
- Reagents and Consumables
Global Genome Editing/Genome Engineering Market by Application Landscape (Revenue, USD Billion, 2017-2027)
- Drug Discovery & Development
- Diagnostics Applications
- Genetic Engineering
- Cell Line Engineering
- Others
Global Genome Editing/Genome Engineering Market by End-user Scope (Revenue, USD Billion, 2017-2027)
- Academic & Government Research Institute
- Biotechnology Companies
- Pharmaceutical Companies
Global Genome Editing/Genome Engineering Market by Regional Reference (Revenue, USD Billion, 2018-2027)
North America
- Canada
- U.S.
Europe
- Italy
- Spain
- France
- Germany
- U.K.
- Rest of Europe
Asia-Pacific
- Australia
- South Korea
- Japan
- India
- China
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
Rest of the World
Global Genome Editing/Genome Engineering Market by Competitive Hierarchy (Revenue, USD Billion, 2018-2027)
- Precision Biosciences Inc.
- Eurofins Scientific
- CRISPR Therapeutics
- Editas Medicine
- Lonza Group AG
- Sangamo Therapeutics Inc.
- Genscript Corp.
- Horizon Discovery Group plc
- Merck & Co. Inc.
- Thermo Fisher Scientific Inc.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Genome Editing/Genome Engineering Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Genome Editing/Genome Engineering Market Dynamics
3.1. Genome Editing/Genome Engineering Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Genome Editing/Genome Engineering Market Industry Analysis
4.1. Porter’s 5 Force Model
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Genome Editing/Genome Engineering Market, by Technology
5.1. Market Snapshot
5.2. Global Genome Editing/Genome Engineering Market by Technology, Performance - Potential Analysis
5.3. Global Genome Editing/Genome Engineering Market Estimates & Forecasts by Technology 2017-2027 (USD Billion)
5.4. Genome Editing/Genome Engineering Market, Sub Segment Analysis
5.4.1. CRISPR
5.4.2. TALEN
5.4.3. ZFN
5.4.4. ANTISENSE
5.4.5. Other technologies
Chapter 6. Global Genome Editing/Genome Engineering Market, by Application
6.1. Market Snapshot
6.2. Global Genome Editing/Genome Engineering Market by Application, Performance - Potential Analysis
6.3. Global Genome Editing/Genome Engineering Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Genome Editing/Genome Engineering Market, Sub Segment Analysis
6.4.1. Cell line Engineering
6.4.2. Genetic Engineering
6.4.3. Diagnostics Applications
6.4.4. Drug discovery and development
6.4.5. Others
Chapter 7. Global Genome Editing/Genome Engineering Market, by Product and Services
7.1. Market Snapshot
7.2. Global Genome Editing/Genome Engineering Market by Product and Services, Performance - Potential Analysis
7.3. Global Genome Editing/Genome Engineering Market Estimates & Forecasts by Product & services 2017-2027 (USD Billion)
7.4. Genome Editing/Genome Engineering Market, Sub Segment Analysis
Chapter 8. Global Genome Editing/Genome Engineering Market, by End-user
8.1. Market Snapshot
8.2. Global Genome Editing/Genome Engineering Market by End-user, Performance - Potential Analysis
8.3. Global Genome Editing/Genome Engineering Market Estimates & Forecasts by End-Users 2017-2027 (USD Billion)
8.4. Genome Editing/Genome Engineering Market, Sub Segment Analysis
Chapter 9. Global Genome Editing/Genome Engineering Market, Regional Analysis
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