European Trends: Genome Editing Market to grow at a CAGR of 16.7% by 2025 – Regional Analysis and Forecasts – iCrowdNewswire
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Apr 17, 2019 3:16 AM ET

European Trends: Genome Editing Market to grow at a CAGR of 16.7% by 2025 – Regional Analysis and Forecasts

European Trends: Genome Editing Market to grow at a CAGR of 16.7% by 2025 - Regional Analysis and Forecasts

iCrowd Newswire - Apr 17, 2019

US is expected to lead the market in the North American region due to the rapid growth of the biopharmaceutical industry. The industry is experiencing the rapid growth due to technological advancements and increasing flexibility and low operational cost are also adding to the growth of the market. In addition, in the country the government has mandate the immunization and vaccination for preventable diseases. The growth of the market is also defined by the rising prevalence of the infectious and parasitic diseases as the diseases are alarming the need of the vaccination in the country. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the North American region during the forecast period.

The North America human vaccines market is expected to reach US$ 24,510.0 Mn in 2027 from US$ 14,566.0 Mn in 2018. The market is estimated to grow with a CAGR of 6.0% from 2019-2027.

The growth of the market is driven by the factors such as compulsion or mandate vaccination and dropping vaccination rates. However, the market is likely to get impacted due to the low awareness about the benefits of vaccines during the forecast period.

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The epidemic of measles in Disneyland in California, US has enforced the dropping of the rates for the vaccination. The instance took place in 2014, the epidemic of the measles has sickened approximately 111 people in California and has also spread to six other states as well as Canada and Mexico. The vaccination has been used safely and effectively for the decades and the rising numbers of the measles has led to more vaccinations. The children are more susceptible to falling prey to the diseases, therefore majority of the parents in US vaccinate their children on schedule.

Additionally, the vaccinations rates are reimbursed by the Medicaid and the reimbursement for Medicaid vaccine administration varies by state however it is as low as US$2 in some states. Also the use of the combination vaccines has been permitted by the Advisory Committee on Immunization Practices (ACIP) at the Centers for Disease Control (CDC). This is a safe and efficacious measure to decrease the number of injections needed to complete the childhood immunization schedule. Hence, the dropping rates of the vaccination rates are likely to raise the market significantly in the forecast period.


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Keywords:    Genome Editing Market, Genome Editing Market 2018, Genome Editing Market 2025, TALENS, CRISPR, Zinc Finger Nucleases (ZFNs), Antisense RNA, Genetic Engineering, Cell Line Engineering, Biotechnology & Pharmaceutical Companies, Contract Research Organizations (CROs), Academic & Government Research Institutes

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