Report : Europe 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)
Cell Line Engineering segment to dominate the Europe Genome Editing Market during 2021–2028
According to a new market research study on “Europe Genome Editing Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Application, and End User” is expected to reach US$ 4,791.46 million by 2028 from US$ 1,487.30 million in 2021. The market is estimated to grow at a CAGR of 18.2% from 2021 to 2028. The report provides trends prevailing in the Europe genome editing market along with the drivers and restraints pertaining to the market growth. Progressive technological advancements in gene-editing tools, burgeoning prevalence of cancer & other genetic disorders, and growing technical innovation are the major factor driving the growth of the Europe genome editing market. However, expensive cost of genomic equipment hinders the growth of Europe genome editing market.
Countries in the European regions were profoundly affected due to the COVID-19 pandemic. For instance, countries such as Italy, Spain, and France have reported the highest number of positive cases and have registered the maximum number of deaths. The cell therapy instruments supply chain, which is already logistically complicated, has to face new challenges. The cell therapy instrument market has also witness some shortfall at the beginning of COVID 19 crisis owing to factors such as disruption in supply chain and demand due to lock down announced by majority of European countries. For instance, in July 2020 the UK government has allotted 100 million Euros funds to the Cell and Gene Therapy Catapult Manufacturing Innovation Centre to expedite the production of a vaccine for COVID-19 in the UK. Moreover, Stempeutics Research has filed application seeking European Commission Funding to develop cell therapy for COVID 19. The company has also entered into partnership with global consortium of cell therapy companies to gather funding for cell therapy research from European commission. Hence, Europe market is likely to show significant growth prospects during this pandemic and forecasted year.
The Europe 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 Germany, the UK, France, Italy, Spain, and Rest of Europe. In 2021, Germany held the largest share in the market, and the UK 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 Europe 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.
Europe Genome Editing Market, By Country, 2021 and 2028 (%)
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