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(IT-NEWSWIRE.COM, April 24, 2021 ) According to research report the Genome Editing Market is projected to be valued at USD 3.19 Billion in 2017 and is expected to grow at a CAGR of 14.5% to reach to USD 6.28 Billion by 2022.
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The key factors propelling the growth of this market are rising government funding and growth in the number of genomics projects, high prevalence of infectious diseases and cancer, technological advancements, increasing production of genetically modified crops, and growing application areas of genomics.
By application, the genome engineering market is segmented into cell line engineering, genetic engineering, and other applications (diagnostics and therapeutics). The cell line engineering segment is estimated to account for the largest share of the global market in 2017. Growing industry focus on stem cell research, increasing global awareness about stem cell therapies, and increasing funding from governments and private organizations are driving the growth of the cell line engineering segment.
The technology segment of the genome editing market is classified into CRISPR, TALEN, ZFN, antisense, and other technologies (PiggyBac, Flp-In, Adenine Base Editor (ADE), and Jump-In). The CRISPR segment is expected to command the largest share of the global genome editing market in 2017. The large share of this segment can be attributed to the potential advantage of CRISPR is its ability to multiplex, that is, to use multiple guide RNAs in parallel to target multiple sites simultaneously in the same cell, making it easier to mutate multiple genes at once or engineer precise deletions in a genomic region.
By end user, the genome engineering market is segmented into biotechnology & pharmaceutical companies, academic & government research institutes, and contract research organizations. The biotechnology & pharmaceutical companies segment is estimated to account for the largest share of the global genome editing market in 2017. The increasing prevalence of infectious diseases and cancer are driving research activities worldwide; this is expected to drive the demand for genome editing in biotechnology & pharmaceutical companies.
North America is expected to dominate the global genome engineering market in 2017. Factors such as increasing use of genetically modified crops, rising prevalence of infectious diseases and cancer, the development of gene therapy in the US and rising availability of research grants and funding are propelling market growth in North America.
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Some of the major players in the genome editing market are Thermo Fisher Scientific (US), Merck (Germany), Integrated DNA Technologies (US), Horizon Discovery Group (UK), GenScript (US), Sangamo BioSciences (US), Lonza Group (Switzerland), New England Biolabs (US), OriGene Technologies (US), Transposagen Biopharmaceuticals (US), Editas Medicine (US), and CRISPR Therapeutics (Switzerland).
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