GENOME ENGINEERING MARKET ANALYSIS

Ethical and societal concerns surrounding gene editing technologies can hamper the market growth. The lack of consensus around appropriate regulation and governance can hamper the market growth. Companies and researchers are wary of developing applications that could invite public backlash or regulatory issues down the line. The regulatory environment remains ambiguous and complex involving multiple agencies. This policy uncertainty creates hurdles for companies to confidently invest in long-term R&D initiatives.

Market Opportunity – Adoption of CRISPR Technology in Agriculture and Biotechnology Industry

The adoption of CRISPR technology in agriculture and biotechnology industry provides a huge opportunity for growth of genome engineering market. CRISPR is revolutionizing how one modify genomes and has the potential to help feed the billions. CRISPR can help address this issue by enabling more precise and efficient breeding of climate-resilient and nutritious crop varieties. It allows for more targeted introductions of beneficial traits and faster development of new hybrid varieties as compared to conventional breeding methods. This ability to precisely edit plant genomes can help farmers to boost yields while using less water, land and agrochemicals to produce food.