Factors such as the availability of government funding and the increase in the number of genomic studies are driving the expansion of the market. However, the high cost of genomic equipment would limit the expansion of the market.
JERSEY CITY, NJ, August 9, 2021 / PRNewswire / – Verified Market Research recently published a report, “Genome Editing Market“By technology (CRISPR, TALEN, ZFN), by application (cell line engineering, plant genetic engineering), by delivery method (ex-vivo, in-vivo), by end user (pharmaceutical companies, biotechnology companies) and by Geography According to verified market research, the global genome editing market size was estimated to be $ 4.71 billion in 2020 and should reach $ 13.83 billion by 2028, with a CAGR of 14.53% from 2021 to 2028.
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202 – Slips
126 – Tables
37 – Figures
Overview of the Global Genome Editing Market
The genome editing market is expected to grow shortly due to a major element driving the market, namely increased funding. Governments in many regions are increasing their funding and grants to support research on genome editing. Because of the benefits of genome editing, various governments are sponsoring public and commercial research, as well as academic institutes, to increase research efforts for genome editing and genetic engineering.
Cancer and other genetic diseases are more and more common, and there is a growing preference for individualized medicine. Increased R&D spending and the expansion of the biotechnology and pharmaceutical industries have increased private and public sector investment, as well as rapid developments in genome sequencing and editing technologies. The non-labeling of genetically modified products such as GMOs, along with the uses in various drug development procedures, are some of the driving forces behind the growth of the genome editing market.
Genome editing has shown promise in the treatment of genetic abnormalities, infectious diseases and cancer. Along with the benefits, there are growing concerns about the risks and ethical difficulties associated with genome editing, which are impacting the market.
Key developments in Genome Editing Market
In January 2020, New England Biolabs and ERS Genomics have cooperated to create and commercialize CRISPR gene editing technologies and reagents.
In March 2019, Brammer Bio was acquired by Thermo Fisher Scientific to gain access to Brammer’s biographies expertise in manufacturing vectors for gene and cell processing.
The main market players are Thermo Fisher Scientific (United States), Merck (Germany), Horizon Discovery Limited (UK), Lonza (Swiss), GenScript (United States), Eurofins Scientific (Luxembourg), Sangamo Therapeutics (United States), Editas Medicine (United States), CRISPR Therapeutics (Swiss), Precision Biosciences (United States).
Verified market research segmented the global genome editing market on the basis of technology, application, method of delivery, end user, and geography ”.
Genome Editing Market, By Technology
Genome Editing Market, By Application
Genome Editing Market, By Delivery Method
Genome Editing Market, By End User
Genome Editing Market By Geography
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Top 10 Next Generation Sequencing Companies Changing Lives Through Genome Research
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