Kenneth Research recently added a report on Genome Editing/Genome Engineering Market in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Genome Editing/Genome Engineering Market along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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.
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The global Genome Editing/Genome Engineering Market was valued at USD 2.77 billion in 2016 and is projected to reach USD 9.33 billion by 2025, growing at a CAGR of 14.43% from 2017 to 2025.
Genomic engineering is the synthetic assembly of complete chromosomal DNA that is more or less derived from natural genomic sequences. Rising Funds from Govt. and Private sector combined with High demand of Genetic based drugs are expected to boost the market during the forecast period.
1. Market Drivers
1.1 Rising Government Funding and Growth in the Number of Genomics Projects
1.2 Growing Application Areas of Genomics
1.3 Growing Applications of Genome Editing/Genome Engineering
1.4 High Prevalence of Infectious Diseases and Cancer
1.5 Technological developments
1.6 Growth in production of GM Crops
2. Market Restraints
2.1 Lack of Well-trained professionals
2.2 Lack of acceptance for GM Foods
1. Global Genome Editing/Genome Engineering Market, by Application:
1.1 Cell Line Engineering
1.2 Genetic Engineering
1.2.1 Animal Genetic Engineering
1.2.2 Plant Genetic Engineering
1.3 Other Applications
2. Global Genome Editing/Genome Engineering Market, by Technology:
2.5 Other Technologies
3. Global Genome Editing/Genome Engineering Market, by End User:
3.1 Biotechnology & Pharmaceutical Companies
3.2 Academic & Government Research Institutes
3.3 Contract Research Organizations
4. Global Genome Editing/Genome Engineering Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Thermo Fisher Scientific
3. Horizon Discovery Group
5. Sangamo Biosciences
6. Integrated Dna Technologies
8. New England Biolabs
9. Origene Technologies
10. Transposagen Biopharmaceuticals
11. Editas Medicine
12. Crispr Therapeutics
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Genome Editing/Genome EngineeringMarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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