North America Genome Editing Market Projected to Increase by 2025May 15, 2019
The North America genome editing market is expected to reach US$ 4,148.1 million in 2025 from US$ 1,234.5 million in 2017. The market is estimated to grow with a compound annual rate of 17.2% from 2018-2025. These are according to the latest forecast released by Research and Markets.
The rise of the genome editing market is primarily attributed to the increased adoption of GM crops and the increasing prevalence of genetic diseases. However, the strict regulations implemented on genome editing may cause a negative effect on market growth. In 2017, the CRISPR segment held the 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 17.1% during the forecast period, 2018 to 2025 owing to the properties provided by TALENs, expecting the market to rise in the near future.
It was also mentioned in the report that the genetic engineering segment of the North American market is expected to grow at a significant rate due to the adoption of animal and plant genetic engineering products.
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