Genome Engineering Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024
The forecast Genome Engineering Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Genome Engineering on a global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to the report the global genome engineering market is projected to grow at a CAGR of 11.80% over the forecast period of 2018-2024.
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Genome engineering market was worth XX million in 2017 and is projected to reach XX million by 2024. A genome is the genetic material of an organism. Genome engineering or genome editing is a type of genetic engineering in which DNA is inserted, modified, deleted or replaced in the genome of the living organism. Several approaches to genome editing have been developed. A recent one is known as CRISPR-Cas9, which is short for clustered regularly interspaced short palindromic repeats and CRISPR-associated protein 9. Genome editing is of huge interest in the prevention and treatment of human diseases. Currently, most research on genome engineering is done to understand diseases using cells and animal models.
Rising prevalence of infectious diseases and cancer and availability of research grants & funding from the government are the primary factors responsible for driving the genome engineering market. Genome engineering is widely used in biotechnology and pharmaceutical companies, these companies are constantly indulged in research and development activities to prepare an antidote for the various infectious disease and cancer that helps to augment market growth. However, lack of trained professionals and adverse public perception of genetic research is likely to be the restraint for the market growth.
The use of genetic engineering to treat increasingly prevalent chronic diseases and in preparing specialized or personalized medicine can create huge growth opportunities in the near future for genome engineering market.
Geographically, North America is in the leading position among the other regions with a significant market share. The U.S drives the North America genome engineering market, on account of factors such as the development of gene therapy, increasing the use of genetically modified crops and huge government funding for genome engineering research. Europe is expected to grow at the highest CAGR during the forecast period, 2018-2024.
Market Segmentation by Technology, Application, and End-User
The report on global genome engineering market covers segments such as technology, application, and end-user. On the basis of technology the global genome engineering market is categorized into clustered regularly interspaced short palindromic repeats (CRISPR), transcription activator-like effector nuclease (TALEN), zinc finger nuclease (ZFN) and other technologies. On the basis of application, the global genome engineering market is categorized into cell line engineering, animal genetic engineering, plant genome engineering, and other applications. On the basis of end-user, the global genome engineering market is categorized into biotechnology & pharmaceutical companies, academic & government research institutes, and contract research organizations.
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The report provides profiles of the companies in the global genome engineering market such as Thermo Fisher Scientific, Merck, Horizon Discovery Group, Genscript, Sangamo Biosciences, Integrated DNA Technologies, Lonza, New England Biolabs, Origene Technologies and Transposagen Biopharmaceuticals.
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