Market Research Report
Asia Pacific Genome Editing Market to 2025 - Regional Analysis and Forecasts by Technology, Application End User, and Country
|Published by||The Insight Partners||Product code||834488|
|Published||Content info||145 Pages
Delivery time: 1-2 business days
|Asia Pacific Genome Editing Market to 2025 - Regional Analysis and Forecasts by Technology, Application End User, and Country|
|Published: April 15, 2019||Content info: 145 Pages||
The Asia Pacific genome editing market is expected to reach US$ 2,349.9 Mn in 2025 from US$ 673.3 Mn in 2017. The market is estimated to grow with a CAGR of 167.7% from 2018-2025.
The growth of the genome editing market is primarily attributed to the increase in funding for the genome editing and medical genetics in developing countries in the region. However, perception of the people for genetic alteration and tighten rules on gene editing are likely to pose a negative impact on the market growth. On the other hand, scopes for the consumer genomics is likely to have a positive impact on the growth of the Asia Pacific genome editing market in the coming years.
The market for the genome editing is expected to grow in the coming near future due to the growth factor that is driving the market majorly is increase in the funding. Owing to the advantages of the genome editing various government are supporting their public and private research and academic institutes for the increasing the research activities for the genome editing and genetic engineering. For instance, in the Asia Pacific region, the countries are also investing more for the development of the genome editing technology since two three years back. For instance, in April 2016, Japan invested approximately US$76million for the five years for the creation of Japanese owned genome editing technologies. The rise in the funding for the genome editing is likely to drive the market for the genome editing in the forecast period. The rise in the funding will enhance the research and development of the gene editing technologies and products for the researchers for efficient and effectively genome editing. The funding will also enable to the biopharmaceutical and pharmaceutical companies to develop technologies for the therapies using gene editing to treat and diagnose the chronic diseases.
In 2017, the CRISPR segment held a largest market share of 53.6% of the genome editing market, by technology. This segment is also expected to dominate the market in 2025 owing to the simple, fast and accurate property of the CRISPR. Moreover, the TALENs segment is anticipated to witness the significant growth rate of 17.7% during the forecast period, 2018 to 2025 owing to the properties provided by the TALENs the market for it is expected to rise in the coming near future.
Asia Pacific genome editing market, based on application was segmented into genetic engineering, cell line engineering and others. The cell line engineering segment is anticipated to grow at a CAGR of 18.6% during the forecast period. Moreover, the genetic engineering segment is expected to grow at the significant rate during the coming years owing to its sub segments such as animal genetic engineering and plant genetic engineering that are being carried out extensively.
In 2017, the biotechnology & pharmaceutical companies segment held a largest market share of 61.2% of the genome editing market, by end user. This segment is also expected to dominate the market in 2025 owing to the increasing in the development activities for the genome editing for the therapies and drug to treat genetic diseases. Hence, the market is likely to propel in the coming years.
Some of the major primary and secondary sources for genome editing included in the report are, Contract Research Organizations (CRO), Genomics R&D Initiative (GRDI), National Institutes of Health (NIH), Ministry of Science and Technology (MST), International Service For The Acquisition Of Agri-Biotech Applications (ISAAA), Food and Drug Administration (FDA), Department of Biotechnology (DBT) and others.