Gene editing Market Size, Business Revenue Forecast, Leading Competitors and Growth Trends 2027
Genes control heredity and offers the basic biological code
to define the specific function of cell. Cells have unique process to defend
themselves from attack from bacteria, viruses and fungi. Gene editing is
bimolecular technique for targeted modification of DNA, including genetic
materials of animals, plants and humans. In the process of gene editing the DNA
is inserted, deleted or replaced in the genome of an organism for the treatment
of particular diseases.
The global gene
editing market is expected to grow at a CAGR of 18.30% during assessment
period of 2017-2024.Due increasing prevalence of sickle cell anemia, HIV,
hemophilia and several forms of cancer the growth of the market is increasing
rapidly. Further, rising demand for synthetic genes and increase in the
production of genetically modified crops are influencing the growth of growth
of the market. The global gene editing market is expected to gain prominence
over the forecast period growing rapidly. The market is forecasted to
demonstrate a high growth by 2017.
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Global Gene editing Market - Competitive Analysis
Characterized by the presence of several well-established
and small players, the global market of gene editing appears to be highly
competitive and fragmented. With well-established market in the North America
region major companies like Thermo Fisher Scientific Inc, Sigma-Aldrich
Corporation, New England Biolabs, Genscript Biotech Corporation, Integrated DNA
Technologies, Inc and various others have their home in the region and generate
maximum market share. These companies have expanded their operating unit in
various other emerging regions as well. Moreover, the other small and medium
scale players are generating revenue from local market.
Thermo Fisher Scientific Inc. an American international
biotechnology company founded in 2006 by the merger of Thermo Electronic and
Fisher Scientific. In Feb 2014, the company announced the complete acquisition
of Life Technology Corp for USD 76.13 Billion. Life Technology Corp is a global
leading player in genetic testing and precision laboratory equipment. New
instruments in Gene editing technology are Ion S5 sequencing systems, Sanger sequencing,
QuantStudio family, QuantiGene Plex Assay, QuantiGene Singleplex Assay and
QuantiGene Singleplex HT Assay. This acquisition will help the company create
unrivalled control in serving research, life sciences, specialty diagnostics
and applied markets.
Global Gene Editing Market - Regional Analysis
Global gene editing market is segmented on the basis of
geographies or regions which mainly includes North America, Europe, Asia
Pacific, and Middle East & Africa. North America is dominating the global
market for gene editing with more than 40% share of the total market in 2016.
The major factors influencing the growth of the market include due to
increasing use of gene editing in for the use of gene therapy, high incidence
of cancer and neurological disorders like Alzheimer’s, dementia. Increasing
awareness for the use of stem cells furthermore contribute influence the growth
of market in Americas.
Asia-Pacific is expected to be the fastest growing market in
coming future due to increasing population and rising development in
biotechnology sector. This region is presenting huge opportunities in gene
editing market due to the rapid development of major genome editing companies
and increased R&D spending. Majorly India and China are the key
contributors in this market. Globally, India is among the top 12 biotech
nations and ranked third in the Asia Pacific region. India has the
second-largest number of the U.S. Food and Drug Administration (USFDA)–approved
plants, after the United States. The Indian biotech industry accounted for
about 2% market share for the global biotech industry. In India the
biotechnology industry has more than 800 companies. India contributes around 8%
of total global generics market. This factors are driving to increase growth of
the market tremendously in this region.
The Middle East & Africa holds the least share of the
global market due to limited availability of biotechnology facilities. The UAE,
Saudi Arabia, and Kuwait are expected to drive the Middle East & African
market. Whereas, the African region is expected to witness a moderate growth.
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