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Gene editing involves the tools and techniques that make extremely definite changes in the DNA sequence of a gene in a living organism, fundamentally modifying its genetic blueprints. In contrast to genetic engineering that haphazardly integrates genetic material into a host genome, gene editing aims to make changes in target specific locations. Growing preference for personalized medicine, an increase in R&D expenditure and growth of biotechnology and pharmaceutical industries, rapid advancements in sequencing and Genome Editing technologies, and escalation in the use of products derived from genetically modified organisms are some of the factors propelling the growth of the genome editing market.
Gene editing has indicated good potential for the treatment of genetic disorders, infectious diseases, and cancer. Moreover, an increase in private and public partnership and technological advancements such as Clustered Regularly Interspace Short Palindromic Repeats (CRISPR/Cas9) are further driving the growth of the market. According to the journal of cellular biochemistry, the CRISPR-Cas9 technique has become an essential technology for targeted genome editing within many diverse organisms including bacteria, yeast, zebrafish, mosquitoes, mouse, and mammals. The overall growth of the market can be attributed to the rise in finance for genomic research both in emerging and industrialized nations, development of ingenious gene rearrangement techniques, rising transmittable diseases, increasing contribution in research and development activities, a generous provision from the governments, escalation in the incidence of genetic disorders and cancer.
However, ethical issues concerning the use of gene editing among people and its acceptance are the significant factors obstructing the growth of the market.
Key Market Driver -
Significant potential of the gene editing for the treatment of genetic disorders, infectious diseases, & cancer and technological advancement are projected to boost the market
Key Market Restraint -
Ethical issues concerning the use of gene editing is likely to hinder the market growth.
The global gene editing market can be segmented on the basis of technologies, products, applications, end-users, and region. Based on the technologies, the market can be segmented into clustered regularly interspaced short palindromic repeats (CRISPR), transcription activator-like effector nuclease (TALEN), zinc finger nuclease (ZFN), and others. Based on the product, the market can be segmented into cell lines, reagents & consumables, and others. Based on the applications, the market can be segmented into drug discovery & development, scientific research, biotechnology, and cell line editing. Based on the end-users, the market can be segmented into pharmaceutical & biotechnology companies, academics & government Research Institutes, and clinical research organizations.
Geographically, the gene-editing market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The major companies in the global gene editing report include New England Biolabs, Lonza, Thermo Fisher Scientific Inc., Twist Bioscience, Integrated DNA Technologies, Inc. Merck KGaA, OriGene Technologies Inc., Sangamo Therapeutics, Horizon Discovery Ltd, Intellia Therapeutics Inc., Caribou Biosciences Inc., Transposagen Biopharmaceuticals Inc., GenScript, CRISPR, and other prominent players.
Geographically, the gene-editing market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is likely to hold the largest share of the market and is anticipated to follow the same thrust over the forecast period owing to the increasing expenditure in research and strong growth in the biotechnology and pharmaceutical industries. The United States is expected to witness the highest growth due to the abundance of world-class research universities and biotechnology industries. Europe is projected to be the second most productive market throughout the forecast period. The technological advancements and partnership activities of pharmaceutical and biotechnology companies are likely to boost the growth of the gene-editing market in this region. However, emerging economies of Asia-Pacific and Latin America possess the high market potential for the growth of the market due to an increase in R&D expenditure, expansion in gene editing companies, and a rising number of laboratories. The Middle East & Africa are expected to show moderate growth during the forecast period.
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