Genome Editing Market share to see growth of 14% from 2016 to 2024

As per the medical report "Genome Editing Market Size By Technology (CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), Meganucleases, TALENS), By Application (Hematology, Infectious Disease, Oncology, Muscular Disorders), By End User (Biotech and Pharma, CRO, Research Institutes), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Spain, Russia, Poland, China, Japan, India, Australia, Malaysia, Mexico, Brazil, Argentina, South Africa, Saudi Arabia, Israel), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024", by Global Market Insights, Inc. says, Genome editing industry value, worth USD 2.17 billion in 2015, is set to hit USD 7.5 billion by 2024.

Genome editing market revenue is anticipated to witness a notable surge over the years ahead, driven by the escalating occurrence of cancer and other genetic inherited disorders coupled with mounting demand for personalized medicines. Companies have been spending extensively on R&D activities across the pharma & biotech sectors. In addition, the availability of enhanced healthcare facilities and the introduction of new modes of treatment will offer lucrative avenues for the gene editing market players to expand their business.

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Considering the geographical landscape, U.S. genome editing market, worth USD 518.5 million in 2015, is slated to expand considerably in the future. A strong growth trend displayed by biotechnology and pharmaceutical firms is expected to boost the industry size.

UK genome editing industry is projected to cross a revenue of USD 744 million by 2024, registering a CAGR of 14.9% over 2016-2024. The high occurrence of chronic disorders among the rising old population will propel the industry development. Increasing occurrence of HIV, hemophilia, and sickle cell anemia will spur the growth of South Africa industry.

Japan genome editing market revenue, worth USD 160 million in 2015, is projected to grow at a rate of 15% over the coming timeframe. Improvement in healthcare amenities and favorable government policies to restrict the spread of infectious diseases will push the business expansion.

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https://www.fractovia.org/news/industry-research-report/gene-editing-market

Genome editing finds varied applications in muscular disorders, hematology, oncology, and infectious ailments. Hematology, which contributed USD 807 million towards gene editing industry share in 2015, is expected to make notable contributions towards the industry revenue even in the future. Oncology is set to record a CAGR of 15.9% over the coming seven years, with the mounting occurrence of various kinds of cancers.

Biotech & pharma firms, contract research organizations, and research institutes are the key end-users of genome editing industry. Biotech & pharma sector, which accounted for more than 58% of gene editing market size in 2015, is expected to witness a substantial surge over the next few years. Rising use of the technology in medicines and therapeutics will boost the revenue.

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Genome editing makes use of technologies such as meganucleases, CRISPR/Cas9, TALENS, and zinc finger nucleases. CRISPR technology, which dominated the overall market in 2015, is set to surpass USD 3 billion by 2024. The growth can be ascribed to wider applications of the technology in farming and genetic engineering.

Bio Rad Laboratories Inc., Editas Medicine, Sigma-Aldrich, Thermo Fisher Scientific, and Allele Biotechnology are the major players of gene editing market.

Browse Related Report:

Digital Genome Market Size By Product (Sequencing & Analyzer Instruments, DNA/RNA Analysis Kits, Sequencing Chips, Sequencing & Analysis Software, Sample Prep Instruments), By Application (Microbiology [Biological, Clinical, Industrial], Reproductive & Genetic, Transplantation, Livestock and Agriculture, Forensics, Research and Development), By End-Use (Diagnostics & Forensic Labs, Academic Research Institutes, Hospitals, Bio-pharmaceutical Companies), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, Spain, Russia, France, China, Japan, India, Australia, Argentina, Brazil, Mexico South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

https://www.gminsights.com/industry-analysis/digital-genome-market

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Fractovia.org is one of India's leading in-house and free news portal. It is fully automated, and operates on a constant premise, interfacing with news sites and offering redesigned breaking features to readers across the globe.