According to the new market research report Genome Engineering Market
by Technology (CRISPR, TALEN, ZFN), Application (Cell Line Engineering,
Animal Genetic Engineering, Plant Genetic Engineering), End User
(Biotechnology & Pharmaceutical Companies, CROs) – Global Forecast
2022″, The global genome engineering market is projected to
reach USD 6.28 Billion by 2022 from USD 3.19 Billion in 2017, at a CAGR
of 14.5% during the forecast period.

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The
key factors propelling the growth of this market are rising government
funding and growth in the number of genomics projects, high prevalence
of infectious diseases and cancer, technological advancements,
increasing production of genetically modified crops, and growing
application areas of genomics.

CRISPR to account for the largest technology segment in the genome engineering market in 2017

The
technology segment of the genome engineering market is classified into
CRISPR, TALEN, ZFN, antisense, and other technologies (PiggyBac, Flp-In,
Adenine Base Editor (ADE), and Jump-In). The CRISPR segment is expected
to command the largest share of the global genome engineering market in
2017. The large share of this segment can be attributed to the
potential advantage of CRISPR is its ability to multiplex, that is, to
use multiple guide RNAs in parallel to target multiple sites
simultaneously in the same cell, making it easier to mutate multiple
genes at once or engineer precise deletions in a genomic region.

Cell line engineering to dominate the genome engineering market during the forecast period

By
application, the genome engineering market is segmented into cell line
engineering, genetic engineering, and other applications (diagnostics
and therapeutics). The cell line engineering segment is estimated to
account for the largest share of the global market in 2017. Growing
industry focus on stem cell research, increasing global awareness about
stem cell therapies, and increasing funding from governments and private
organizations are driving the growth of the cell line engineering
segment.

Biotechnology & pharmaceutical companies to dominate the genome engineering market during the forecast period

By
end user, the genome engineering market is segmented into biotechnology
& pharmaceutical companies, academic & government research
institutes, and contract research organizations. The biotechnology &
pharmaceutical companies segment is estimated to account for the
largest share of the global genome engineering market in 2017. The
increasing prevalence of infectious diseases and cancer are driving
research activities worldwide; this is expected to drive the demand for
genome editing in biotechnology & pharmaceutical companies.

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North America to dominate the market in 2017

North
America is expected to dominate the global genome engineering market in
2017. Factors such as increasing use of genetically modified crops, the
development of gene therapy in the US, rising prevalence of infectious
diseases and cancer, and rising availability of research grants and
funding are propelling market growth in North America.