Gene editing market size is expected to reach $3.6 billion market valuation by the year 2026. Modified genes are seeing increased demand among developed countries which has led to increase in demand for gene editing techniques in North America.
Rising awareness among consumers about the benefits and importance of using genetically modified crops and animals has fostered the demand for gene editing techniques in North America. Farmers who are engaged in modern farming are gradually leaning towards scientifically modified seeds as its crops provide more nutritional value and have a longer shelf life.
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For example, according to the statistics released by the United States Department of Agriculture (USDA), more than 90% of the upland cotton, soybeans and corn are produced from seeds that are of the genetically engineered (GE) category.
Gene editing is finding its increased use in the healthcare and pharmaceutical industries as well in North America. This is because modified genes are being increasingly used in manufacturing complex drugs to treat chronic diseases like cancer. This set of genes helps in effectively fighting a variety of severe ailments.
When it comes to analyzing demand on the basis of application of gene editing market in North America, the market is divided into different segments like cell line engineering, plant genetic engineering, animal genetic engineering and many others. Out of these, the cell line engineering segment is expected to gain momentum in its demand during the next few years.
The reasons behind this are being accredited to its increased usage in stem cell research and providing effective observations about how a chronic disease has progressed over a period of time. It even provides insights into cell biology and therapeutic sensitivity. Introduction of various advanced gene editing market techniques has fostered market demand as well.
There are different types of gene editing technologies being used in the field like Zinc Finger Nucleases (ZFNs), TALENs, CRISPR-Cas9 and many others. Out of these, the ZFNs technology is projected to show promising growth in the coming years in North America. This is because it targets a DNA sequence with high precision and accurately identifies problems in the same. It then brings about precise alterations in the sequence in complex organisms.
Research institutes, contract research organizations (CROs), biotech and pharmaceutical companies are some of the end-users of gene editing market. After analyzing the market demand, it was concluded that biotech and pharma companies will continue to dominate the market during the forecast period. This is because they are increasingly focusing on developing advanced gene editing tools to help the field perform better in the future. When these techniques are being used, they even help introduce new medical procedures which help in the effective treatment of complex genetic disorders.
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Rapid rise in the number of chronic and genetic disorders in the U.S. will play an active role in increasing gene editing market share in North America. In fact, a report released by the Rare Genomics Institute states that one in every 10 individuals in the U.S. suffers from one or the other form of a rare disease. The country is increasingly adopting highly advanced gene editing tools and techniques l to combat the alarming rise in the number of rare genetic ailments.
Some of the renowned companies involved in gene editing market in North America are Integrated DNA Technologies, Agilent Technologies, Thermo Fisher Scientific, Caribou Biosciences, Takara Bio, Origene Technologies, among many others.
Table of Contents (ToC) of the report:
Chapter 1 Methodology
1.1 Definition and forecast parameters
1.1.2 Methodology and forecast parameters
1.2 Data sources
1.3 References & sources
Chapter 2 Executive Summary
2.1 North America gene editing market summary, 2015 – 2026
2.1.1 Country trends
2.1.2 Application trends
2.1.3 Technology trends
2.1.4 End-user trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Industry outlook, 2015 – 2026
3.3 Major factor analysis
22.214.171.124 Rising R&D expenditure and growth of biotechnology
126.96.36.199 Increased funding for genetic research in North America
188.8.131.52 Technology advancements in gene editing
184.108.40.206 Increasing demand for synthetic genes in North America
3.3.2 Restraints & challenges
220.127.116.11 Stringent government regulations
3.4 COVID-19 impact analysis
3.5 Porter’s analysis
3.6 Competitive review, 2019
3.7 PEST analysis
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