Report : Asia Pacific Genome Editing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (CRISPR, TALEN, Antisense, and Other), Application (Cell Line Engineering, Genetic Engineering, Diagnostic Applications, Drug Discovery, and Others), and End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Clinical Research Organizations)
Pharmaceutical and Biotechnology Companies segment to dominate the Asia Pacific Genome Editing Market during 2021–2028
According to a new market research study on “Asia Pacific Genome Editing Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Application, and End User” is expected to reach US$ 3,557.63 million by 2028 from US$ 1,051.58 million in 2021. The market is estimated to grow at a CAGR of 19.0% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific genome editing market along with the drivers and restraints pertaining to the market growth. Increasing technological innovations, prospering biotechnology industry in emerging regions, and growing prevalence of cancer and other genetic disorders are the major factor driving the growth of the Asia Pacific genome editing market. However, heavy cost of genomic equipment hinders the growth of Asia Pacific genome editing market.
In January 2020, after a series of cases of pneumonia in Wuhan, the Chinese health authorities, the capital city of Hubei province (China), announced that a novel coronavirus, officially known as severe acute respiratory syndrome coronavirus (SARS-CoV)-2, was responsible for these cases. COVID-19 has created an extraordinary emergency that is particularly affecting the supply chain. The supply chain disruptions, along with the enormous demand for effective therapies for the treatment of COVID 19 have put the healthcare research industry in a critical situation in the Asia Pacific region. However, many of the market players now realized the importance of gene therapy in the treatment of COVID 19 which is expected to raise demand for genome editing during the forecast period.
The Asia Pacific 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 China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. In 2021, China held the largest share in the market, and Japan is 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 Asia Pacific 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, Integrated DNA Technologies (IDT), a leading comprehensive genomics solutions provider, has launched its rhAmpSeq CRISPR Analysis System, which offers an end-to-end solution for characterizing and quantifying the full array of on- and off-target genome editing events in CRISPR research projects.
Asia Pacific Genome Editing Market, By Country, 2021 and 2028 (%)
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