In a recently published report, Genome Editing/Genome Engineering Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Genome Editing/Genome Engineering Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Genome Editing/Genome Engineering Market is valued approximately USD 4.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.00 % over the forecast period 2020-2027. Genome Engineering technique is used for deletion, insertion and modification of genome of a microorganism. The genome editing/genome engineering plays an integral role in modern day biology and is widely used in biopharmaceutical and biotechnology industry to alter the genome of microorganism to perform process such as fermentation which yield desired products. Also, this approach is majorly used for understanding DNA in cells of organism to have a better understanding of their biology, to treat infectious and autoimmune diseases. Availability of government funding and growth in the number of genomics projects are the few factors responsible for growth of the market over the forecast period of 2020-2027.
For Instance: in 2017, in Canada, as per the University of Guelph, University of Genome Canada Bioinformatics and Computational Biology along with other eligible sources provide funding of $12 million for different genomics-based research projects. Similarly, according the Japan Agency for Medical Research and Development Organization, in 2017, government of Japan has introduced various initiatives such as Tohoku Medical Megabank project, Platform Program for promotion of Genome Medicine etc., these projects are inclined to provide research infrastructure. Such government initiatives would increase the need for genome editing and genome engineering. Also, the key players of global Genome Editing/Genome Engineering market have adopted various strategies to gain competitive advantage including product launch, innovation, technological advancements, investment, funding and others. However, high equipment cost is the major factor restraining the growth of global Genome Editing/Genome Engineering market during the forecast period.
The regional analysis of global Genome Editing/Genome Engineering market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share as the region is one of the most significant markets for development of gene therapy in the US, the the rising prevalence of infectious diseases and cancer, increasing use of genetically modified crops, and the availability of research grants and funding. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Thermo Fisher Scientific
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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By Product and Services:
Reagents and Consumables
Software & systems
Cell line Engineering
Drug discovery and development
Academic and Government research institutes
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Genome Editing/Genome Engineering Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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