North America Genome Editing Market Projected to Reach US$ 4,000 Mn by 2025October 23, 2019
"The growth of the genome editing market is primarily attributed to the rise in the production of genetically modified crops and rising prevalence of the genetic diseases," according to the latest Genome Editing Market Growth Analysis Report. Overall, the market is expected to have a compound annual growth rate (CAGR) of 17.2% from 2018 to 2025. Despite rigid biosafety regulations on genome editing in the region, the emergence of markets centered on precision and regenerative medicines provides more growth opportunities for the North American genome editing market in the next couple of years.
The CRISPR segment, which dominated the genome editing market in 2017 with a share of 53.6%, is still expected to take up a significant portion of the market in 2025. Based on application, the cell line engineering segment is likewise foreseen to propel at a CAGR of 18.0%. Similarly, the genetic engineering segment will likely see a a substantial increase due to extensive researches being done on its subsegments, particularly on animal and plant genetic engineering. With the advent of CRISPR, the biotechnology and pharmaceutical companies segment is also anticipated to dominate the market in 2025 as companies benefit from drug discoveries and enhanced research and development.
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