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North America gene editing market to surge at a promising CAGR of 14.7% between 2020 and 2026

Author : Ronak Bora | Published Date : 2021-01-16 

The soaring growth pace of the North America gene editing market is rather evident with the invention of a new CRISPR gene editing technology that enables the detection of the Sars-CoV-2 or COVID-19. Gene editing has been drawing in a vast degree of worldwide attention, thanks to the innovative technology’s innumerable potential applications across medicine and agriculture.

In 2019, the North America gene editing market held a valuation of $1.4 billion and is anticipated to surge at a promising CAGR of 14.7% between 2020 and 2026, thanks to the escalating demand for synthetic genes across North American countries. By 2026, the North America gene editing market is likely to surpass $3.6 billion.

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The following top three trends have been marking the growth of the North America gene editing market:

CRISPR-based technology to promise growth due to convenience of use

In 2019, the CRISPR-based technology segment contributed more than $ 683 million, which is likely to be a good omen for the future growth of the North America gene editing market over the next few years. Not only does CRISPR require simple instrumentation, it is also relatively easy to use, with a vast potential for diagnosis.

Moreover, the introduction of CRISPR-based testing for COVID-19 will also leave a positive mark on the North America gene editing market. The broadening horizons of the CRISPR/Cas technology become manifest as research activities in the area of DNA are being conducted. Moreover, the technology also holds the potential to treat sickle cell disease, for which there is presently no cure. These factors are likely to uplift the overall growth of the North America gene editing market.

Cell line engineering to gain momentum as advancements in technology shoot up

The North America gene editing market has been bifurcated into animal genetic engineering, plant genetic engineering, and cell line engineering, in terms of the application landscape. In 2019, the cell line engineering segment accounted for approximately 44% of the North America gene editing market share and is projected to witness further expansion at a considerable pace. The high demand from increasing applications across stem cell research initiatives is responsible for the growth of this segment.

Cell line engineering enables researchers and scientists to delve deep into crucial areas including the mechanisms in cell biology, therapeutic sensitivity, and disease progression. As new breakthroughs emerge in gene editing technique including CRISPR/Cas, Zinc Finger Nucleases (NFNs), and TALENs that have rendered cell engineering easier to implement at reasonable costs, the North America gene editing market is set for promising growth.

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Canada to favor growth backed by demand from plant breeders

Canada has been displaying an upsurge in the number of research activities and technological breakthroughs in the area of gene editing since past few years. for instance, in October 2020, the results of a petri dish study revealed that CRISPR/ Cas9 can potentially be used for altering a particular gene in nerve cells in the human brain, thereby slowing down the production of beta-amyloid protein which is responsible for triggering the Alzheimer’s disease. Government-supported research initiatives have also led down a smooth path for the progression of the North America gene editing market. However, certain government regulations have also been limiting the market growth. Despite these restrictions pertaining to the utilization of genome editing tools, the region is likely to grow at a 14% CAGR between 2020 and 2026.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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