Worldwide Gene Editing Market Growing with Advancements in Microbiology
The global gene editing market is anticipated to witness substantial growth on account of advancements of medical science and rising demand for personalized medicine. According to TMR Research, prominent factors such as increasing public and private sector funding coupled with growing pharmaceutical and biotechnology industries will fuel the growth of the gene editing market in the coming years. The report is titled “Gene Editing Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025”.
The increasing investments on research and development activities along with rising demand for synthetic genes are the factors boosting the global gene editing market. Furthermore, modernization of healthcare practices, government initiatives for reducing diseases, and growing geriatric population are the major factors leading the growth of the global gene editing market. The global gene editing market are growing substantially, especially in the developing countries due to improved political environment and increasing expenditure.
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On the other hand, lack of public awareness, patent disputes related to CPISPR technology, unavailability of gene editing based therapeutics, and stringent regulatory framework are some of the factors holding the growth of the global gene editing market. In addition to this, political disputes coupled with the financial crisis in some of the regions hampering the market growth. However, such type of restraints can be managed with the help of proper coordination between government and political power of the respective region.
The global gene editing market can be segmented on the basis of various parameters such as application, end user, technology, and geography. Based on application, the gene editing market can be classified into TALEN, CRISPR, ZFN, and others. In terms of application, market for gene editing can be segmented into plant genetic engineering, cell line engineering, and animal genetic engineering. The global gene editing market can be segmented on the basis of end user into contract research organizations, academic and government institutes, and biotechnology and pharmaceutical companies.
Geographically, the global gene editing market can be divided into different regions such as Latin America, North America, Asia Pacific, the Middle East and Africa, and Europe. In Asia Pacific, developing countries are expected to witness a rapid growth on account of growing number of gene editing companies and rising geriatric population. North America is anticipated to experience significant growth owing to modernization of healthcare practices and technological advancements. The European market is likely to grow substantially due to increasing cases of diseases and growing healthcare infrastructure.
The study presents various factors influencing the global gene editing market such as drivers, restraints, trends, challenges, and opportunities. It also profiles key players operating in the global gene editing market.
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The report foresees AstraZeneca, Editas Medicine, Agilent Technologies, Allele Biotech, SigmaAldrich, Recombinetics, Bio Rad, Thermo Fisher Scientific, Lonza, Qiagen, Cellectis, GE Healthcare, and CRISPR Therapeutics as key players in the gene editing market.
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