Genome editing is a revolutionary technology in the biotechnology and medical fields. It is changing many related areas that form the genome editing market. The global market for genome editing was estimated at $REDACTED billion in 2017 and is expected to rapidly increase over REDACTED% to reach $REDACTED billion in2018. In the next five years, the global market is forecasted to keep a fast pace, with a compound annual growth rate (CAGR) of REDACTED%, and reach over $REDACTED billion by 2023.While all regional markets will experience fast growth at slightly different rates, the U.S. market, whichaccounted for about REDACTED% of the global genome editing market in 2017, will keep leading theindustry with growth forecasted to reach over $REDACTED billion in 2023 at an estimated CAGR of REDACTED% from 2018 through 2023.
Key Drivers of Market Growth
This report has identified several key drivers for the growth and changes in the genome editing market -
- Development of next-generation genome editing systems with improved characteristics toward therapeutic uses, including the development of the mutants or similarities of Cas9 nuclease with improved specificity and reduced off-target effect.
- Emerging applications of genome editing such as CRISPR-Cas-based in vitro diagnosis of infectious diseases.
- Need of precision medicine.
- Need of improving drug discovery process.
- Increasing demand for synthetic genes in synthetic biology.
- Investments from both public and private sectors.
- Increased R&D expenditures in related industrial sectors.
- High prevalence of genetic birth disorders.
- Concerns about genetically modified crops.
This report identifies key revenue segments for the genome editing market from various aspects. Application-based market segments include academic research, drug development, clinical therapy, non-transgenic breeding and others; product type-based market segments include editing tools, cell lines, animal models, plant breeding and therapies; editing technology-based market segments include CRISPR-Cas, TALEN, ZFN, and others such as meganucleases; and regional-based market segments include the U.S., Europe, Asia-Pacific and the Rest of World.
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Global Genome Editing Market Forecast to 2025
Genome Editing: Technologies and Global Markets
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