The Genome Editing Market size in Europe was worth USD 1.02 billion in 2022 and is estimated to be growing at a CAGR of 14.13% to reach USD 1.97 billion by 2027 during the forecast period.
The European genome editing market is expected to witness significant growth in the region owing to the rising demand for genomic editing during the forecast period. The gene-editing techniques are potential enough to treat medical conditions with a genomic basis, including cystic fibrosis and diabetes. Furthermore, improving agricultural features through genetically modified crops with higher yields is another significant field where scientists utilize gene editing. However, growing awareness of the availability of genetically modified foods and the necessity to meet the large food requirements of the region's enormous population have been some of the market's major growth factors.
Cell-line engineering is used in stem cell research to modify stem cells, resulting in the fast proliferation of pluripotent stem cell (iPSC) lines. The cell-line engineering approach is also used in genetic engineering to produce novel antibodies for various therapeutic purposes, making it suited for mammalian cell engineering. The biotechnological field is defined by the ongoing development of technology aimed at improving the health of all living beings. Technological advancements in genetic engineering and the rise in genomics improvements are expected to impact market growth significantly. The major companies in the region are conducting research and development activities on genomics and producing products for genomic editing. In addition, domestic start-up companies are introducing genomic tools and services, which is expected to propel market growth. CRISPR gene-editing technology is less expensive and easier to utilize than other genetic editing technologies like TALENs. As a result, the CRISPR/Cas9 market will generate significant revenue in the coming years.
Moreover, increasing investment and funding by private organizations and government and growing genomic projects are expected to drive market growth. In the future years, consumer genomics will certainly positively influence expanding the European genome editing market. The recent pandemic COVID-19 has increased the adoption of CRISPR genomics editing technology in the diagnostics arena.
However, the European genome editing market is restricted by the dearth of skilled professionals. Also, the high cost associated with genomic equipment and ethical concerns about DNA modification impede the market growth.
This research report on the Europe Genome Editing Market has been segmented and sub-segmented into the following categories:
Regionally, the European region is currently occupying the second position in the leading majority of the global genome editing market shares. The UK leads the genome editing market of this region as the upgraded technologies are carried out at the biotechnological companies, including the research and development producing products for genome editing. UK-based company; Horizon Discovery has invented cell lines where the industry has used AAVs' potential to increase the cell's fidelity DNA repair.
Germany is witnessed to grow with the highest CAGR during the forecast period as the genome editing market's extent is a growing number of applications and its diseases. Germany has a considerable range in treating different cancers, genetically affected cells, and agents of infectious diseases like parasites, viruses, bacteria, and many more. Favorable government policies include research activities, including discovering new drugs and therapies into the market by specialized key players.
France, Italy, and Spain are likely to showcase promising growth opportunities in the coming years.
KEY MARKET PLAYERS:
Companies playing a pivotal role in the European Genome Editing Market profiled in this report are Thermo Fisher Scientific, Merck KGAA, Horizon Discovery Group Plc, Genscript Biotech Corporation, Sangamo Biosciences, Integrated DNA Technologies, Lonza Group Ltd, New England Biolabs, Origene Technologies, and Transposagen Biopharmaceuticals.
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