A prominent research firm, Cognizance Market Research added a cutting-edge industry report on “Genome Engineering Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2021 to 2028.
Genome Engineering Market Analysis
According to cognizance market research the Market was valued at USD 3.1 Billion in 2019 and expected to register a CAGR of 11.2% from 2021 to 2028.
What is Genome Engineering?
Genetic/ Genome engineering is a term that was first introduced into our language in the 1970s to describe the emerging field of recombinant DNA technology and some of the things that were going on.
Genome engineering in human cells is of great value in research, medicine, and biotechnology. In research, one of the best ways to determine the function of a human gene or genetic element is to compare the phenotype of human cells containing a mutation in the gene or element of interest with that of isogenic normal human cells. This process is increasingly important given that a growing number of researchers are using human pluripotent stem cells as disease models to investigate disease pathophysiology and screen therapeutic drugs in vitro.
Genome Engineering Market Outlook
According to our global market study on the basis of extensive primary and secondary research: “One trend is the ability of genome editing/genome engineering to cost-effectively produce Biotherapeutics. This would in turn reduce the cost of existing therapies and make small production runs possible, ultimately enabling personalized medicine to become reality.”
The North American market for genome editing/genome engineering accounted for over 35.25 percent of the overall market in 2018 due to the rapid proliferation of genetically modified crops, the discovery of gene therapies in the US, the prevalence of infectious diseases, and increased funding of research. It would seem that the Asia-Pacific region would benefit from greater economic growth and the increased focus of governments on encouraging genomic research. China, plus Asia’s large genomics institute, Beijing Genomics Institute, is expected to strongly sustain market growth in genome editing/genome engineering. Because of a wealth of funds and companies undertaking research in the field of genomics, Europe’s genome editing market is expected to grow at a substantial rate.
The report offers the revenue of the Genome Engineering market for the period 2018-2028, considering 2018 and 2019 as a historical year, 2020 as the base year and 2021 to 2028 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Genome Engineering Market for the forecast period. The genome engineering market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the genome engineering market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the genome engineering market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the global genome engineering market. Secondary research involved a detailed analysis of significant players’ product portfolio. Literature review, press releases, annual reports, white paper, and relevant documents have been also studied to understand the global genome engineering market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segmented included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Genome Engineering Market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the genome engineering market. The subsequent section of the genome engineering report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Geographically, the following regions together with the listed national/local markets are fully investigated: North America (the U.S., Canada) Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia Pacific (China, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East and Africa. For each aforementioned region and country, detailed analysis and data for annual revenue ($ Mn) are available for 2018-2028. The breakdown of all regional markets by country and split of key national markets by Application, technology and End User over the forecast years are also included.
Genome Engineering Market Competitive Landscape
The “Genome Engineering Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Applied Stem Cell, Inc., GenScript, Horizon Discovery Group plc, Integrated DNA Technologies, Inc., Lonza Group Ltd., New England Biolabs, OriGene Technologies, Inc., Sangamo Biosciences, Inc., Sigma-Aldrich Co. LLC., Thermo Fisher Scientific, Inc., and Transposases Biopharmaceuticals, Inc.
The report explores the competitive scenario of the genome engineering market. Major players operating in the genome engineering market have been identified and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the Genome Engineering market report.
COVID-19 impact on “Genome Engineering Market “
During the forecast period, COVID-19 will likely have a long-term impact on the industry growth since it is an incomparable global public health emergency. Research we are conducting ensures the inclusion of underlying COVID-19 concerns and possible options for the future as part of our research framework. It provides insight into the COVID-19 market by considering whether consumer demand has changed and what behaviour has changed, purchasing patterns, the rerouting of supply chains, governmental and private sector interventions have played a role on the market. With the COVID-19 impact on the market taken into account, this updated study provides insights, analysis, estimates, and forecasts.
Key Questions Answered in Genome Engineering Market Report
- What is the total market size by 2028 and what would be the expected growth rate of market?
- What is the revenue of total market and what would be the expected demand over the forecast period?
- What are the key market trends?
- What are the factors which are driving this market?
- What are the major barriers to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities for the existing and entry level players?
- What are the recent developments and business strategy of the key players?
The Genome Engineering Market has been segmented as below:
Genome Engineering Market, by application
- Cell Line Engineering
- Animal Genetic Engineering
- Plant Genetic Engineering
Genome Engineering Market, by technology
- CRISPR (Clustered Regularly Interspersed Short Palindromic Repeats)
- Other (PiggyBac, Flp-In, Adenine Base Editor (ADE), Antisense and Jump-In)
Genome Engineering Market, by end user
- Biotechnology & Pharmaceutical Companies
Genome Engineering Market, by region
- North America
- Latin America
- Middle East & Africa