CRISPR segment to dominate the North America Genome Editing Market during 2021–2028
According to The Insight Partners market research study on “North America Genome Editing Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Application, and End User” is expected to reach US$ 7,024.71 million by 2028 from US$ 2,136.41 million in 2021. The market is estimated to grow at a CAGR of 18.5% from 2021 to 2028. The report provides trends prevailing in the North America genome editing market along with the drivers and restraints pertaining to the market growth. Ongoing technological advancements in gene-editing tools, surge in prevalence of cancer & other genetic disorders, and raising technological innovation are the major factor driving the growth of the North America genome editing market. However, higher cost of genomic equipment hinders the growth of North America genome editing market.
In the North American region, the US was profoundly affected by the outbreak of the COVID-19 pandemic. The country has marked the highest number of positive patients. Across the nation, various healthcare research centers were working only for research on COVID 19 therapeutics. As the crisis moved forward, healthcare professionals realized that developing novel therapies using innovative technologies is essential to mitigate this unprecedented crisis. In the middle of this situation, governments around the world were not prepared for such a pandemic. The treatment against COVID 19 has been established. Hence, the lack of definitive therapy offers significant opportunities for the genome editing-related market as US FDA has recently approved the use of plasma therapy for critically ill COVID 19 patients. Upcoming stem cell therapies to boost patients' immune systems and eliminate the virus will offer significant growth prospects for the market. For instance, Lattice Biologics, in collaboration with Alumina Partners, has been accelerating phase 1 clinical trials for its stem cell-based AminioBoost therapies of COVID-19. Moreover, the mRNA-based vaccines against the COVID19 have been given emergency use authorization by the regulatory agencies in the region. The active involvement of the government and the associated market players in exploring opportunities for genome editing-related products and services is expected to drive such developments which will add to the future demand for the genome editing market in the North American region.
The North America genome editing market is segmented on the basis of technology, application, end user and country. Based on technology, the market is segmented into CRISPR, TALEN, antisense, and other. In 2021, CRISPR segment held the largest share in the market, it is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into cell line engineering, genetic engineering, diagnostic applications, drug discovery, and others. In 2021, genetic engineering segment held the largest share in the market, and cell line engineering is expected to be the fastest growing segment during the forecast period. Based on end user, the market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and clinical research organizations (CRO's). In 2021, pharmaceutical and biotechnology companies segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into the US, Canada, and Mexico. In 2021, the US held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.
THERMO FISHER SCIENTIFIC INC.; MERCK KGaA; Lonza; Horizon Discovery Group plc.; Integrated DNA Technologies; GenScript; New England Biolabs; Eurofins Scientific; CRISPR Therapeutics; and Editas Medicine are among the leading companies in the North America genome editing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Editas Medicine, Inc., a leading genome editing company, announced that the U.S. Food and Drug Administration (FDA) has cleared the IND for EDIT-301 for the treatment of transfusion-dependent beta thalassemia (TDT), enabling the Company to initiate a Phase 1/2 clinical study of EDIT-301 in TDT patients.
North America Genome Editing Market, By Country, 2021 and 2028 (%)
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