Global Genome Engineering Market: Snapshot
The rising use of genome engineering in personalized medicine has been supporting the growth of the global market in the last few years. The innovations and developments in this field and the rising opportunities in the developing economies are projected to enhance the growth of the global genome engineering market in the next few years.
As per the market research study by Transparency Market Research, in 2015, the global market for genome engineering was worth US$2.30 bn and is estimated to reach a value of US$7.21 bn by the end of 2023. The market is likely to register a promising 14.20% CAGR between 2015 and 2023.
Technological Developments to Drive Global Genome Engineering Market
The increasing government funding and the rise in the number of genome projects are considered as the major factors that are projected to encourage the growth of the global genome engineering market in the next few years. The rising number of applications of genomics and technological advancements are estimated to accelerate the growth of the market in the near future. In addition to this, the rising prevalence of cancer and other infectious diseases is projected to boost the demand for genome engineering in the near future.
On the flip side, the lack of trained professionals and the adverse public perception regarding genome engineering are projected to hamper the growth of the overall market in the coming few years. Nonetheless, the rising production of genetically modified crops and the increasing opportunities in several developing economies are estimated to encourage the growth of the global genome engineering market in the next few years.
North America to Hold Major Share of the Global Genome Engineering Market
The global genome engineering market has been categorized on the basis of geography into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these, North America is projected to lead the global genome engineering market, accounting for a large share of the market. The rising adoption of the advanced techniques in the research institutes, especially in the U.S. are some of the key factors that are projected to accelerate the growth of the overall market in the next few years. In addition to this, the rising incidence of monogenic diseases is another factor that is likely to enhance the growth of the market in the near future. On the other hand, the rising research activities in the field of personalized medicine and biotechnology is projected to encourage the growth of the Asia Pacific market for genome engineering in the next few years.
The global market for genome engineering is highly competitive in nature with a presence of several players operating worldwide. With the rising number of players that are likely to enter the market is expected to strengthen the competitive scenario of the overall market in the next few years. The leading market players are focusing on the research and development activities in order to maintain their position in the market. In addition to this, the expansion of the product portfolio and innovations are estimated to enhance the growth of the market in the near future. Some of the key players operating in the genome engineering market across the globe are Horizon Discovery, Integrated DNA Technologies, Lonza Group, Sigma-Aldrich Corporation, Transposagen Biopharmaceuticals, Thermo Fisher Scientific, GenScript USA, New England Biolabs, and Sangamo Biosciences.
Genome engineering is the synthetic modification of chromosomal DNA by using molecular scissors. Current advances in genome engineering are based on the programmable nucleases that can modify eukaryotic genomes. The global genome engineering market report includes the current and future prospects of the market with an elaborate executive summary, including a market snapshot on various segments and sub-segments. This section also provides the overall information and data analysis of the global genome engineering market with respect to the leading market segments based on type of technology, application, end-user and geography.
The market overview section of the report includes qualitative analysis of the overall genome engineering market including the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s five forces analysis. In addition, various analyses such as market attractiveness analysis by geography and competitive landscape by key players has also been provided. The market attractiveness analysis explains the intensity of competition in the market in different geographies. The competitive scenario between different market players is evaluated through market share analysis. These factors would help the market players to take strategic decisions in order to strengthen their positions and expand their share in the global market.
The global genome engineering market has been segmented on the basis of technology, application, end-user and geography. Based on technology, the genome engineering market has been categorized into two major segments: Clustered regularly-interspaced short palindromic repeats (CRISPR), Transcription activator-like effector nuclease (TALEN), Zinc finger nuclease (ZFN) and other technologies, while the other technologies include antisense technology and recombinant AAV mediated genome engineering. Based on application, market has been segmented into Cell-line Engineering, Animal Genome Engineering, Plant genome engineering and Other Application. Based on end-user, the market is segmented into Pharmaceutical and Biotechnology Companies, Academics and Clinical Research Organizations. Market revenue in terms of USD million for the period between 2013 and 2023 along with the compound annual growth rate (CAGR %) from 2015 to 2023 are provided for all the segments, considering 2014 as the base year.
Geographically, the genome engineering market has been categorized into four regions: North America, Europe, Asia Pacific and Rest of the World (RoW). North America comprises the U.S. and Canada. Europe comprises Germany, the U.K., and Rest of Europe. Asia Pacific comprises China, India, and Rest of Asia Pacific. Rest of World comprises of Latin America, Middle-East & Africa. The recommendations section included in the report would assist existing players to expand their market share and new companies to establish their presence in the genome engineering market. The report also profiles major players in the genome engineering market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Major players profiled in this report include Thermo Fisher Scientific, Inc., Sigma-Aldrich Corporation, Sangamo Biosciences, Inc., Lonza Group Ltd., Horizon Discovery Group Plc, and Integrated DNA Technologies, Inc.
Global Genome Engineering Market, by Technology
- Clustered regularly interspaced short palindromic repeats (CRISPR)
- Transcription activator-like effector nuclease (TALEN)
- Zinc Finger Nuclease (ZFN)
- Other Technologies
Global Genome Engineering Market, by Application
- Cell Line Engineering
- Animal Genome Engineering
- Plant Genome Engineering
- Other Application
Global Genome Engineering Market, by End-User
- Pharmaceutical and Biotechnology Companies
- Clinical Research Organizations
Global Genome Engineering Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle-East & Africa