Genome Editing/Genome Engineering Market

Thermo Fisher Scientific (US) and Merck (Germany) are leading players in Genome Editing/Genome Engineering Market

The global genome editing/genome engineering market is projected to reach USD 11.2 billion in 2025 from USD 5.1 billion in 2020, at a CAGR of 17.0% during the forecast period. Market growth is largely driven by factors such as the rise in government funding, 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. However, the high cost of genomic equipment will restrain the growth of this market.

Major companies in the market include Thermo Fisher Scientific (US), Merck (Germany), Horizon Discovery Limited (UK), Lonza (Switzerland), GenScript (US), Eurofins Scientific (Luxembourg), and Sangamo Therapeutics (US).

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Thermo Fisher Scientific (US) is the leading player in this market. Under its life sciences segment, the company offers a variety of instruments and reagents used for the analysis of DNA that have applications in research and clinical purposes. Moreover, the company invests in R&D activities to increase its capabilities. It primarily focuses on inorganic growth strategies such as agreements, collaborations, and partnerships for increasing its share in the market. The company has succeeded in creating a strong foothold in the market owing to its diversified product portfolio, wide geographic reach, and focus on inorganic growth.

Merck (Germany) held the second-largest share in the market. Its prominence in the market can be attributed to its diversified product portfolio, widespread geographical presence, and focus on strategies such as expansions. Merck manufactures and sells organic chemicals & biochemical products, assay kits, and services under the Sigma-Aldrich Corporation division. The company focuses on R&D activities to develop technologically advanced products for this market. Merck is a leading company that offers a broad range of genome editing tools. The company primarily pursues expansions to strengthen its business.

Related Reports:

Genome Editing/Genome Engineering Market by Technology (CRISPR, TALEN, ZFN, Antisense), Product & Service, Application (Cell Line Engineering, Genetic Engineering, Diagnostics, Drug Discovery & Development), End-User and Region - Global Forecast to 2025

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Report Code
BT 3380
RI Published ON
6/9/2020
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