Gene Editing Market to hit $7.5bn by 2024

Gene Editing Market size worth over $7.5bn by
2024: Global Market Insights Inc.
Gene Editing Market size is driven by rising number of biotechnology and
pharmaceutical firms that will provide heavy revenue generating opportunities.
Moreover, increasing prevalence of cancer and genetic disorders will further
enhance the scope of the gene editing market. Gene editing market is slated to
register a massive double-digit growth rate over the coming seven years. According
to Global Market Insights, Inc. “Global gene editing market size worth USD 2.17
billion in 2015, is estimated to witness a CAGR of 14% over the period of 2016-
2024.”
The rapid technological advancements in healthcare industry will also build a
profitable roadmap for the gene-editing industry. Precision medicine market, which is
estimated to surpass a revenue of USD 85 billion by 2023, will also promote the
gene-industry market trends. The government support and increasing investments in
R&D to enhance the technological outlook will also boost the gene editing industry
share notably over the coming timeframe. The pharmaceutical industry is also
actively collaborating with the gene editing firms to implement the technology use in
clinical development. In addition to this, the industry will gain wide acceptance on
account of its benefits in the wellbeing of humans, animals, and plant ecosystems.
Gene editing industry finds a varied set of applications across areas such as
oncology, muscular disorders, infectious disease, and hematology. Hematology led
the application landscape with a revenue of USD 807 million in 2015. Rising
prevalence of infectious diseases such as HIV will promote the gene editing industry
size in infectious disease applications, with a revenue estimation of USD 2.5 billion
by 2024. Moreover, oncology applications will also exhibit a decent growth rate over
the coming seven years, with an annual CAGR of 16% over 2016-2024. The
increasing number and types of cancer will primarily contribute towards the
application growth.
CRISPR/Cas9 is the most prominent technology implemented in the gene editing
applications and has been the most buzzed topic among the researchers worldwide.
The ability of CRISPR/Cas9 technology to enable multiple edits at once has made it
a breakthrough in the gene editing technology landscape. Moreover, its simplicity,
specificity, and speed will further promote the technology demand over the coming
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years. CRISPR technology based gene editing market is estimated to exceed a
revenue of USD 3 billion by 2024. Other notable technologies deployed in the gene
editing industry include TALENS, Mega nucleases, and Zinc Finger Nucleases
(ZFNs).
The major end-users participating in the gene editing market include CROs (Contract
Research Organizations), Biotech & Pharma companies, and Research Institutes.
Biotech and Pharma dominated the end user landscape accounting for 58% of the
overall market share in 2015. The growth can be attributed to increasing applications
of gene editing in therapeutics and drug discovery. Moreover, enhancements in the
field of genetic engineering will further expand the scope of gene editing market in
biotech and pharma sector. CROs will also emerge as a prominent revenue
generating sector due to increased outsourcing by the pharmaceutical companies for
complex drug discovery.
U.S. Gene Editing Market Size, by Application, 2013- 2024 (USD Million)
To access sample pages or view this report titled, “Gene 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” in detail along with the table
of contents, please click on the link below:
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https://www.gminsights.com/pressrelease/gene-editing-market
Considering the global trends, US gene editing industry led the global landscape,
with a revenue of USD 518 million in 2015. The trend is likely to continue with the
rapid expansion of biotech and pharma industry coupled with the rising prevalence of
diseases such as Alzheimer, cancer, and other infectious ailments. UK gene editing
market is anticipated to surpass USD 744 million by 2024, driven by the growing
geriatric population base and frequent occurrence of chronic ailments across
Europe. Asia Pacific will also exhibit substantial growth over the coming years.
Improving healthcare infrastructure, technological developments in the medical
space, rising geriatric population base, and favorable government norms will
stimulate the APAC market growth.
Lack of awareness about gene-editing may prove to be a roadblock for the market
growth. However, the government support towards spreading awareness will
undoubtedly improve the future business scenario. The emerging economies will
gain a major traction of the industry players to expand the regional base. Key market
participants include Agilent Technologies, AstraZeneca, Allele Biotech, Cellectis, Bio
Rad, Editas Medicine, CRISPR Therapeutics, Lonza, GE Healthcare Dharmacon,
Recombinetics, Inc., Qiagen, Thermo Fisher Scientific, and Sigma-Aldrich.
Table of Contents of Gene Editing Market:
Chapter 1.
Methodology and Scope
1.1 Research Methodology
1.1.1 Initial data exploration
1.1.2 Statistical modeling and forecast
1.1.3 Industry insights and validation
1.1.4 Research scope and assumptions
1.2 Data Sources
1.2.1 Primary sources
1.2.2 Secondary sources
Chapter 2. Executive Summary
2.1 Gene Editing industry 360 0 synopsis, 2013 - 2024
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2.1.1 Business trends
2.1.2 Application trends
2.1.3 Technology trends
2.1.4 End User trends
2.1.5 Regional trends
Chapter 3. Gene Editing Industry Insights
3.1 Industry segmentation
3.2 Industry Size and forecast, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Industry Impact forces
3.4.1 Growth drivers
3.4.1.1 Increased funding for genetics research
3.4.1.2 Increased R&D expenditure and growth of biotechnology
3.4.1.3 Increasing demand for synthetic genes
3.4.1.4 Growing use of genetically modified technology
3.4.1.5 Technology advancements
3.4.2 Industry pitfalls & challenges
3.4.2.1 Stringent government regulations
3.4.2.2 Dearth of public awareness
3.5 Regulatory trends
3.5.1 U.S.
3.5.2 Europe
3.5.3 China
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3.6 Growth potential analysis
3.7 Company market share analysis, 2015
3.7.1 Strategy dashboard
3.8 Porter’s analysis
3.9 PESTEL analysis
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