Pune, India, January, 2018/MRFR Press Release/- Market Research Future published a Half-Cooked research report on “Global Gene editing Market Research Report - Forecast to 2024”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2024.
GenScript USA Inc. (U.S.), Horizon Discovery Group plc (U.K.), Integrated DNA Technologies, Inc. (U.S.), Lonza Group Ltd. (Switzerland), New England Biolabs, Inc. (U.S.), OriGene Technologies, Inc. (U.S.), Sangamo Biosciences, Inc. (U.S.), Sigma-Aldrich Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), and Transposagen Biopharmaceuticals, Inc. (U.S.) are some of the prominent players at the forefront of competition in the Global Gene editing Market and are profiled in MRFR Analysis.
Global Gene editing Market - Overview
Genes control heredity and offers the basic biological code to define the specific function of cell. Cells have unique process to defend themselves from attack from bacteria, viruses and fungi. Gene editing is bimolecular technique for targeted modification of DNA, including genetic materials of animals, plants and humans. In the process of gene editing the DNA is inserted, deleted or replaced in the genome of an organism for the treatment of particular diseases.
Due increasing prevalence of sickle cell anemia, HIV, hemophilia and several forms of cancer the growth of the market is increasing rapidly. Further, rising demand for synthetic genes and increase in the production of genetically modified crops are influencing the growth of growth of the market. The global gene editing market is expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a high growth by 2017. The global gene editing market is expected to grow at a CAGR of 18.30% during assessment period of 2017-2024.
Moreover, the market for gene editing is growing at a robust rate due to growing government support and investment in life science industries. Furthermore, increasing research spending in America and Europe has driven the market in these regions.
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Global Gene editing Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global market of gene editing appears to be highly competitive and fragmented. With well-established market in the North America region major companies like Thermo Fisher Scientific Inc, Sigma-Aldrich Corporation, New England Biolabs, Genscript Biotech Corporation, Integrated DNA Technologies, Inc and various others have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover, the other small and medium scale players are generating revenue from local market.
Thermo Fisher Scientific Inc. an American international biotechnology company founded in 2006 by the merger of Thermo Electronic and Fisher Scientific. In Feb 2014, the company announced the complete acquisition of Life Technology Corp for USD 76.13 Billion. Life Technology Corp is a global leading player in genetic testing and precision laboratory equipment. New instruments in Gene editing technology are Ion S5 sequencing systems, Sanger sequencing, QuantStudio family, QuantiGene Plex Assay, QuantiGene Singleplex Assay and QuantiGene Singleplex HT Assay. This acquisition will help the company create unrivalled control in serving research, life sciences, specialty diagnostics and applied markets.
Global Gene Editing Market - Regional Analysis
Global gene editing market is segmented on the basis of geographies or regions which mainly includes North America, Europe, Asia Pacific, and Middle East & Africa. North America is dominating the global market for gene editing with more than 40% share of the total market in 2016. The major factors influencing the growth of the market include due to increasing use of gene editing in for the use of gene therapy, high incidence of cancer and neurological disorders like Alzheimer’s, dementia. Increasing awareness for the use of stem cells furthermore contribute influence the growth of market in Americas.
Asia-Pacific is expected to be the fastest growing market in coming future due to increasing population and rising development in biotechnology sector. This region is presenting huge opportunities in gene editing market due to the rapid development of major genome editing companies and increased R&D spending. Majorly India and China are the key contributors in this market. Globally, India is among the top 12 biotech nations and ranked third in the Asia Pacific region. India has the second-largest number of the U.S. Food and Drug Administration (USFDA)–approved plants, after the United States. The Indian biotech industry accounted for about 2% market share for the global biotech industry. In India the biotechnology industry has more than 800 companies. India contributes around 8% of total global generics market. This factors are driving to increase growth of the market tremendously in this region.
The Middle East & Africa holds the least share of the global market due to limited availability of biotechnology facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.