Press release
Gene Editing Market Projected To Grow At a Steady CAGR during Forecast Period By 2024
MaketStudyReport.com adds a new Gene Editing Market Research Report for the period of 2016-2024 that shows the growth of the market is rising at a 14% CAGR to 2024.Gene Editing Market size will reach USD 7.5 billion by 2024. Increasing prevalence of cancer and other genetic disorders coupled with growing preference for personalized medicine will stimulate global genome editing market size. Furthermore, improved healthcare infrastructure, introduction of novel treatment alternatives and rising R&D spending by pharma and biotech companies should propel industry growth.
Global gene editing market size may be hindered by stringent government regulations for approval to gene mutation projects and lack of awareness among people regarding the safety of genetic interventions.
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Hematology led the genome editing market share with over USD 807 million in 2015. Infectious diseases will grow at 15.1% CAGR during the forecast period due to growing use of gene editing techniques for detection of infectious diseases such as HIV.
Biotech and pharma sectors dominated the industry with over USD 1,278 million revenue for 2015, owing to several applications in drug discovery and therapeutics. With the increasing use of CRISPR and ZFN, companies are capitalizing on innovative researches focusing on development of engineering techniques. CROs will see strong growth due to the significant trend of outsourcing complex drug discovery processes by pharmaceutical companies.
U.S. gene editing market share led the global industry with USD 518.5 million in 2015 owing to advancement in biotechnology and pharmaceutical industry and rising prevalence of Alzheimer, dementia, cancer and infectious diseases.
China gene editing market size will witness robust growth over forecast period due to rising R&D expenditure and growing number of gene editing companies. China will show significant growth during the forecast period due to various initiatives taken by the Chinese government for promoting life science research in biotechnology sector.
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Global gene editing market size will reach USD 7.5 billion by 2024 growing at 14.9% CAGR from 2016 to 2024, owing to rising demand for synthetic genes and increased production of genetically modified crops and organisms.
Oncology will witness robust 15.9% CAGR over forecast period. Cancer will remain one of the leading causes of death globally. The business segment should exceed USD 874 million by 2024 owing to growing prevalence of various types of cancers.
UK genome editing market share accounted for over 41% of regional revenue size growing at 14.9% to reach USD 744 million by 2024. Increasing geriatric population along with growing prevalence of chronic diseases will fuel business growth.
Key industry players include Agilent Technologies, Allele Biotech, Bio Rad, AstraZeneca, CRISPR Therapeutics, Dharmacon, Cellectis, Editas Medicine, GE Healthcare Lonza, Qiagen, Recombinetics, SIGMA-Aldrich and Thermo Fisher Scientific. Companies are consolidating their industry position by increasing their focus on research activities to develop new cost-effective technologies.
Gene editing market research report includes in-depth coverage of the industry with estimates &forecast in terms of revenue in USD billion from 2013 to 2024, for the following segments:
Global Gene editing market by Application (Revenue, USD Million, 2013 - 2024)
Hematology, Infectious Disease, Oncology, Muscular Disorders, Others.
Global Gene editing market by technology (Revenue, USD Million, 2013 - 2024)
CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), Meganucleases, TALENS, Others.
Global Gene editing market by end users (Revenue, USD Million, 2013 - 2024)
Biotech and Pharma, CRO, Research Institutes.
The above information is provided on a regional and country basis for the following:
Gene editing market regional analysis (Revenue, USD Million, 2013 - 2024)
North America, U.S., Canada, Europe, France, UK, Spain, Russia, Poland, Asia Pacific, China, Japan, India, Australia, Malaysia, Latin America, Brazil.
Related Report:
Digital Genome Market Size By Product (Sequencing & Analyzer Instruments, DNA/RNA Analysis Kits, Sequencing Chips, Sequencing & Analysis Software, Sample Prep Instruments), By Application (Microbiology [Biological, Clinical, Industrial], Reproductive & Genetic, Transplantation, Livestock and Agriculture, Forensics, Research and Development), By End-Use (Diagnostics & Forensic Labs, Academic Research Institutes, Hospitals, Bio-pharmaceutical Companies) Market Share & Forecast, 2016 – 2024
Digital Genome Market size is set to exceed USD 45 billion by 2024.
Increased adoption of personalized medicine aimed at identifying genomic markers of disease and prescribe drugs that specifically target the pathway will drive the digital genome market size. Growing emphasis on sensitivity and specificity of the gene sequencing instruments should also fuel industry growth.
https://www.marketstudyreport.com/reports/digital-genome-market/?utm_source=RR-PSR
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