Genome Engineering Market : Application Segment of Academics to Demonstrate High Potential for Growth
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Some of the key players in the market are Horizon Discovery, GenScript USA, and Integrated DNA Technologies. Besides these, Lonza Group, Sangamo Biosciences, New England Biolabs, Sigma-Aldrich Corporation, Transposagen Biopharmaceuticals, and Thermo Fisher Scientific are some more important firms leading the market.
According to Transparency Market Research (TMR), the global genome engineering market is anticipated to expand at a steady CAGR of 14.2% CAGR within the forecast period from 2015 to 2023. In 2015, the market was valued at around worth of US$2.30 bn, which is anticipated to rise around the value of US$7.21 bn by the end of 2023. On the basis of application, the global genome engineering market is dominated by academic segment with highest share of revenues in 2014. The segment is expected to continue its lead in coming years as well. Regionally, North America region is likely to dominate the market with the most lucrative scope of development in forthcoming years. This is attributed to notable increase in research and development activities in genetics sector in the region.
Investments by Pharmaceuticals and Biotechnology to Fuel Market Growth
Pharmaceutical and biotechnology organizations over the globe are gradually realizing the need for advanced technology for diagnosing genetic changes. Thus, there has been a rise in research and development activities, contributing in the increased demand for genome engineering in the market. Various firms are stressing towards cell mutation in order to control cell and hereditary infections. The rising speculations by non-government associations and governments in genome advancements together with the investments by pharmaceutical and biotechnology sector are acting as a catalyst to the global market for genome engineering.
Genome Engineering to Be Beneficial in Curing Terminal Illness as Well
The worldwide utilization of different technologies such as ZNF, CRISPR/Cas9, and TALEN in quality treatment for various genetic issue and terminal ailments will be one of the essential drivers for the development of this market. Gene therapy utilizes RNZ guide and gene alteration for repairing DNA and adjust cells to help cure ailments. These progressions in genome engineering can be utilized to cure sicknesses, for example, cancer, genetic diseases, immunodeficiency, and viral infection.
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This analysis is based on a recent market research report by Transparency Market Research, titled, “Genome Engineering Market (Technology – Clustered regularly interspaced short palindromic repeats (CRISPR), Transcription activator-like effector nuclease (TALEN), and Zinc Finger Nuclease (ZFN); Application – Cell Line Engineering, Animal Genome Engineering, and Plant Genome Engineering; End User – Pharmaceutical and Biotechnology Companies, Academics, and Clinical Research Organizations) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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