The scope of the report includes DNA read, write and edit technologies, applications, industries, initiatives, patents, and companies. The markets for read, write and edit products and services are given for 2017, 2018, 2019 (estimated) and 2024 (forecast).
This report reviews the main read, write and edit technologies and explains why genetic variation is important in clinical testing and disease. It then discusses significant large-scale research initiatives that impact read, write and edit applications. Of particular interest is a discussion of population-scale sequencing projects throughout the world, and their likely impact. The main market driving forces for read, write and edit products and services are listed and discussed.
The report quantifies each of the main market segments. The read (sequencing) market is quantified by delivered format, including sequencing workflow products (sample preparation kits and reagents, sequencing instruments and consumables, and informatics) and sequencing services (clinical diagnostics and sequencing services to applied market customers).
The sequencing workflow products market is quantified by type, that is, DNA isolation and extraction; target enrichment; library preparation; and informatics/ecosystems. The sequencing instruments and consumables market is given by platform (Sanger, NGS, and 3GS).
The sequencing services market is analyzed by end-user application (applied, clinical, and R&D). Within sequencing services, the applied market is analyzed by end-user application (agriculture, biopharma, consumer, microbiology, population-scale genomics, synthetic biology and other).
Also within sequencing services, the clinical market is analyzed and quantified by disease category (cardiovascular, clinical microbiology and infectious diseases, Mendelian disorders, metabolic/immune disorders, neurology, oncology, reproductive health, and transplant medicine).
The DNA write (synthesis) market is quantified by product type (oligonucleotides, synthetic biology parts, genes, and RNA therapeutics). The oligonucleotide market is analyzed by application (gene editing, sequencing, PCR, FISH, microarray, gene synthesis and other). The gene market is quantified by gene type (standardized, value-added). Finally, the RNA therapeutics market is quantified by platform (RNA interference, antisense oligos, micro RNA modulation, and mRNA) and by disease category (cancer, hematology, musculoskeletal, neurology, and rare diseases).
The DNA edit (gene editing) market is quantified by application (agriculture, biopharma, diagnostics, and therapeutics); editing platform (CRISPR, meganuclease, TALEN, ZFN). The gene-editing agriculture market is analyzed by product type (crop/seeds, livestock). The gene-editing biotechnology market is analyzed by product type (kits and reagents, cell line engineering, animal models and services). The gene-editing therapeutics market is analyzed by disease category (eye and rare diseases).
Specific geographic markets discussed include North America, Europe, Asia-Pacific, and the rest of the world (ROW).
Industry sectors analyzed include next-generation sequencing; long-read sequencing; DNA synthesis; RNA therapies; and gene editing.
More than 320 companies in the read, write and edit industry are profiled in this report.
The author also provides a summary of more than 180 of the main industry acquisitions and strategic alliances that took place from January 2018 through June 2019, including key alliance trends.
- 28 data tables and 77 additional tables
- An overview of the global market for DNA read, write and edit technologies, applications, and industries
- Analyses of global market trends, with market data from 2017, 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
- Discussion on sequencing technologies, market applications, industry structure, and important clinical sequencing initiatives
- Information pertaining to several significant large-scale research initiatives that are contributing to sequencing services write synthesis and gene editing technologies’ market development
- A look at the innovations in pharmaceutical and biotechnology companies and research & development programs in stem cell-based therapies and gene therapies
- Coverage of significant patents and their allotments in each category, as well as major industry acquisitions and strategic alliances data
- Company profiles of over 320 major global players within the industry, including 3Billion Inc., 23Andme Inc., Bayer AG, Becton, Dickinson and Co. (BD), Bio-Rad Laboratories, Pacific Biosciences, Qiagen NV, Roche Holding AG, and Thermo Fisher Scientific Inc.
Chapter 1 Introduction
- Study Goals and Objectives
- Reasons for Doing the Study
- Scope of Report
- Information Sources
- Geographical Breakdown
- Analyst's Credentials
- Custom Research
- Related Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Overview
- DNA Read, Write and Edit Technologies and Markets
- Large-Scale Initiatives and Consortia
- Applications of DNA Read, Write and Edit Technologies
- DNA Read, Write and Edit Market Driving Forces
- Global DNA Read, Write and Edit Markets
Chapter 4 Technology Background
- Introduction to Nucleic Acid Technologies
- Genetic Variation and Analysis
- Sequencing Technologies
- Sanger Sequencing
- Next-generation Sequencing
- DNA Write (Synthesis) Technologies
- PCR-Based Approaches
- Solid-Phase-Based Approaches
- Microfluidic Technologies
- Gene Editing Technologies
- CRISPR Enzyme Technologies
- Gene Editing Delivery Technologies
- Viral Delivery Technologies
- Non-Viral Delivery Technologies
Chapter 5 DNA Read, Write and Edit Initiatives
- American Gut Consortium
- Blood Profiling Atlas
- Cancer Moon Shots Program
- China Precision Medicine Initiative
- Clinical Genome Resource
- Epigenetics for Females Personalized Cancer Care
- France Genomic Medicine Plan
- Friends of Cancer Research Project
- Gene Therapy Initiative
- Human Cell Atlas Consortium
- Immunomonitor Consortium
- Integration of Imaging and Fluid-based Tumor Monitoring in Cancer Therapy Program
- Laboratory for Genomics Research
- Liquid Biopsies and Imaging for Improved Cancer Care
- Lung Cancer Master Protocol Project
- Matchmaker Exchange
- Medical Genome Initiative
- Metagenomics and Metadesign of Subways and Urban Biomes
- Million Veteran Program
- Molecular Integration in Neurological Diagnosis
- National Microbiome Initiative
- Next-generation Single Cell Analysis Program
- PreCancer Atlas
- Precision Medicine Initiative
- Prospective Registry of Multiple Testing
- Quality Assurance Initiative Pathology Project
- Somatic Cell Genome Editing Program
- Telomere-to-Telomere Consortium
- Trans Omics for Precision Medicine Initiative
- Population Sequencing Programs
Chapter 6 DNA Read, Write and Edit Applications
- Applications Overview
- Genome Editing Applications
- DNA Sequencing Applications
- R&D Applications
- Applied Applications
- DNA Write (Synthesis) Applications
- Synthetic Genes
- BioBrick (Synbio) Parts
- Genome Editing Applications
- Cell Engineering
- Organism Engineering
- Screening and Tools
Chapter 7 DNA Read, Write and Edit Industries
- Sequencing Industry
- Sequencing Instruments Industry
- Long Read Sequencing Industry
- DNA Write (Synthesis) Industry
- Oligos as Therapeutics
- Gene Synthesis Workflow
- Gene Synthesis Value Chain
- Synthetic Gene Market Segments
- Gene Editing Industry
Chapter 8 Acquisitions and Strategic Alliances
- Strategic Alliances
- Key Trends
- Alliance Summaries
Chapter 9 DNA Read, Write and Edit Markets
- Industry Growth-Driving Forces
- DNA Read, Write and Edit Technologies
- Global DNA Read (Sequencing), Write (Synthesis) and Edit (Gene Edit) Markets
- DNA Read (Sequencing) Markets
- Clinical Diagnostic Sequencing Market
- Cardiology Market
- DNA Write (Synthesis) Markets
- Gene Editing Market
- Market for Gene-edited Crops/Seeds
- Gene-edited Livestock Market
Chapter 10 Patents
- Circulating Tumor Cell Patents
- Exosome Patents
- Cell-free DNA Patents
- Sequencing-related Patent Issues
- Gene Editing-Related Patents
- Gene Editing Patents (Sangamo Case Study)
- RNA Therapy-related Patents
Chapter 11 Nucleic Acid Read, Write and Edit Company Profiles
List of Tables
Summary Table: Global Market for DNA Read, Write and Edit, by Application, Through 2024
Table 1: Report Scope
Table 2: Impact of Large-scale Initiatives on the Read, Write and Edit Industry
Table 3: Life Cycle Status of Applications for Read, Write and Edit Technologies
Table 4: Driving Forces of DNA Read, Write and Edit Industry Growth
Table 5: Global Market for DNA Read, Write and Edit, by End User, Through 2024
Table 6: Chemical Building Blocks of DNA
Table 7: DNA Translation and Transcription
Table 8: Long-range DNA Structure
Table 9: Genetic Variant Types
Table 10: DNA Read, Write and Edit Technology Overview
Table 11: Sequencing Technology Development, 1990-2020
Table 12: Cost to Sequence a Single Human Genome, 2001-2019
Table 13: Sequencing Technology Summary
Table 14: Sanger Sequencing Summary
Table 15: Sanger Sequencing Improvements
Table 16: Advanced Sequencing Technologies
Table 17: Roche Next-generation Sequencing Workflow
Table 18: Illumina Next-generation Sequencing Workflow
Table 19: Thermo Fisher Next-generation Sequencing Workflow
Table 20: Comparison of Gene Synthesis Technologies
Table 21: Importance of Microfluidics Technologies in Read and Write Applications
Table 22: Gene Editing Therapeutic Interventions
Table 23: Gene Editing Technology Approaches
Table 24: Major Gene Editing Technologies
Table 25: Comparison of CRISPR Enzyme Technologies
Table 26: Delivery Vector Technical Hurdles
Table 27: Comparison of Viral Vector Types
Table 28: Non-Viral Delivery Methods
Table 29: DNA Read, Write and Edit: R&D Programs
Table 30: Population Sequencing Projects
Table 31: Summary of Applications for DNA Read, Write and Edit Technologies
Table 32: Role of DNA Read and Write Technologies in a Typical CRISPR Gene Editing Experiment
Table 33: Sequencing Projects in GOLD Database, 2014-2018
Table 34: Percentage Share of All Sequencing Projects in GOLD Database, by Sequencing Strategy, 2018
Table 35: Main Sequencing Applications
Table 36: Comparison of Genetic Analysis Platforms
Table 37: Impact of Sequencing on Agricultural Product Classes
Table 38: Key Applications in Forensics/Human Identity Sequencing
Table 39: Key Applications in Microbial Sequencing
Table 40: Genetic Testing Scope
Table 41: Key Applications for Sequencing-based Diagnostics
Table 42: Cancer Applications
Table 43: Mendelian Disorders Applications
Table 44: Reproductive Health Screening Applications
Table 45: Ethical Issues Associated with Prenatal and Newborn Screening
Table 46: Microbiology and Infectious Disease Applications
Table 47: Complex Disorder Applications
Table 48: Transplant Diagnostics Application
Table 49: Oligonucleotide Applications
Table 50: RNA Therapy Segments
Table 51: Synthetic Gene Applications
Table 52: Gene Editing Applications
Table 53: Advanced Sequencing Industry Company Positioning
Table 54: End-to-End Sequencing Approaches
Table 55: Long-Read Sequencing Industry Players
Table 56: Nucleic Acid Synthesis Key Competitor Strategies
Table 57: RNA Therapy Segments
Table 58: Producers of RNA Therapies
Table 59: Gene Synthesis Workflow
Table 60: Gene Synthesis Market Factors of Differentiation
Table 61: Gene Editing Industry
Table 62: Regulatory Situation of Gene-edited Crops, by Country/Region
Table 63: DNA Read, Write and Edit Industry Acquisitions, January 2018-June 2019
Table 64: DNA Read, Write and Edit Industry Strategic Alliances, January 2018-June 2019
Table 65: Driving Forces for Growth in the DNA Read, Write and Edit Industry
Table 66: Global DNA Read, Write and Edit Market, by Region, Through 2024
Table 67: Global Market for DNA Read Sequencing, by Segment, Through 2024
Table 68: Global Market for DNA Sequencing Instruments and Consumables, by Platform Generation, Through 2024
Table 69: Global Market for DNA Sequencing Workflow Products, by Product Type, Through 2024
Table 70: Global Market for DNA Sequencing Services, by End User, Through 2024
Table 71: Global Market for Applied Sequencing Services, by Application, Through 2024
Table 72: Driving Forces in the Growth of Synthetic Biology
Table 73: Global Market for Clinical Diagnostics Sequencing, by Disease Category, Through 2024
Table 74: Examples of Dilated Cardiomyopathy Test Providers
Table 75: Microbial Sequencing Landscape
Table 76: Multiple Sclerosis Diagnostic Technologies
Table 77: Global Market for DNA Write Synthesis, by Product Type, Through 2024
Table 78: Global Market for Oligonucleotides, by Application, Through 2024
Table 79: Global Market for Synthetic Genes, by Type, Through 2024
Table 80: Global Market for RNA Therapeutics, by Platform, Through 2024
Table 81: GalNAc-conjugated RNA Therapy Pipeline
Table 82: Global Market for RNA Therapeutics, by Disease Category, Through 2024
Table 83: Global Market for Gene Editing, by End User, Through 2024
Table 84: Global Market for Gene Editing, by Editing Platform, Through 2024
Table 85: Global Market for Gene Editing Agriculture, by End Use Application, Through 2024
Table 86: Advantages of Gene Editing for Crop Enhancement
Table 87: Calyxt Market Potential of Gene-edited Crops
Table 88: Commercialization Pathway for Gene-edited Crops
Table 89: Global Market for Gene Editing Biotechnology, by Product Type, Through 2024
Table 90: Global Market for Gene Editing Therapeutics, by Disease Category, Through 2024
Table 91: Gene Editing Clinical Pipeline, 2019
Table 92: CTC-related Patents, by Country/Region, 2008-2018
Table 93: Exosome-related Patents, by Country/Region, 2008-2018
Table 94: cfDNA-related Patents, by Country/Region, 2008-2018
Table 95: Status of Liquid Biopsy and Sequencing-related Patent Disputes
Table 96: CRISPR-Cas9 Patent Groups
Table 97: CRISPR-Cas9 Patent Licensing Fields
Table 98: Sangamo's Collaborative Agreements Related to ZFN Technology
Table 99: Sangamo Therapeutics' Patent Positions
Table 100: RNA Therapy Patents and Patent Applications, by Leading Companies
Table 101: 23andMe: Data Generated by Platforms
Table 102: Ginkgo Bioworks: Engineered-Organism Workflow
Table 103: Homology Medicines: Gene Editing Vs. Gene Therapy Approach
Table 104: PGT: Sensitivity to Detect Drug-resistant Mutations in Viruses
List of Figures
Summary Figure: Global Market for DNA Read, Write and Edit, by Application, 2017-2024
Figure 1: Central Dogma of Molecular Biology
Figure 2: Schematic of Conventional DNA Synthesis Technologies
Figure 3: Microarrays in DNA Synthesis
DNA (and RNA) read, write and editing includes the primary methods in which nucleic acids are analyzed (sequencing), created (synthesis) and modified (gene editing). It is becoming increasingly important in the life sciences industry to be expert in all aspects of nucleic acids in order to exploit significant opportunities within this industry. The end-users for these technologies include any industry that works with biological systems, and even some that don’t (e.g., DNA data storage).
The DNA read, write and edit industry is at the beginning stages of its growth story; penetration of the key markets is still at an early stage. The data indicates that there is a significant future upside for sequencing across research, metagenomics, agriculture, synthetic biology, and clinical applications, among others.
The situation is similar for DNA writing and editing technologies, with clinical therapeutic applications, in particular, providing an enormous total available future market that is yet to be significantly penetrated. Major successes in this industry include the adoption of next-generation sequencing (NGS) for noninvasive prenatal testing; enabling the roles of synthetic DNA oligonucleotides and genes in the rise of the synthetic biology industry; and rapid adoption of CRISPR gene editing by research institutions and biopharma industries.
There is increasing interplay among the three DNA technology platforms, giving rise to innovative corporate strategies. For example, Arbor Biotechnologies employs sequencing, gene synthesis, and artificial intelligence to perform high-throughput discovery of biomolecules, including new CRISPR proteins.
- 10X Genomics Inc.
- 23andMe Inc.
- 3Billion Inc.
- Adaptive Biotechnologies Inc.
- Admera Health
- Adverum Biotechnologies
- Agilent Technologies Inc.
- Ajinomoto Co., Inc.
- Allergan Plc
- Allogene Therapeutics Inc.
- Almac Group Ltd.
- Amarantus Bioscience Holdings Inc.
- Ambry Genetics
- Amfora Inc.
- Anchordx Medical Co., Ltd.
- Anges Inc.
- Annoroad Gene Technology Co., Ltd.
- Ansa Biotechnologies Inc.
- Apeiron Biologics AG
- Aperiomics Inc.
- Arbor Biotechnologies Inc.
- Arcadia Biosciences Inc.
- Archer Dx
- Arcturus Therapeutics Inc.
- Arup Laboratories
- Asia Genomics Pte. Ltd.
- Astrazeneca Plc
- Astridbio Technologies Kft.
- Asuragen Inc.
- Atg Biosynthetics GmbH
- Athena Diagnostics Inc.
- Atreca Inc.
- B-Mogen Biotechnologies Inc.
- Base4 Innovation Ltd.
- Basf AG
- Bayer AG
- Baylor Genetics
- Beam Therapeutics Inc.
- Becton, Dickinson And Co.
- Benson Hill Biosystems Inc.
- Berry Genomics Co., Ltd.
- Bgi Shenzhen
- Bio Basic Inc.
- Bio S&T Inc.
- Bio-Rad Laboratories Inc.
- Bio-Techne Ltd.
- Bioarray S.L.
- Biocept Inc.
- Biodesix Inc.
- Biogen Inc.
- Biomarx Inc.
- Bioneer Corp.
- Blue Heron Biotech Llc
- Bluebird Bio
- Blueprint Genetics
- Bluestar Genomics Inc.
- Boreal Genomics
- Bristol-Myers Squibb Co.
- Brooks Life Sciences
- Calyxt Inc.
- Cambridge Epigenetix Ltd.
- Cancer Genetics
- Caredx Inc.
- Caribou Biosciences Inc.
- Caris Life Sciences
- Casebia Therapeutics
- Catalog Technologies Inc.
- Cegat GmbH
- Celgene Corp.
- Cellectis SA
- Cellmax Life
- Celsee Inc.
- Centogene AG
- Cergentis B.V.
- Chronix Biomedical
- Cibus Inc.
- Circulogene Theranostics
- Circulomics Inc.
- Cofactor Genomics Inc.
- Color Genomics
- Coopersurgical, Inc.
- Coriell Life Sciences Inc.
- Crispr Therapeutics AG
- Cygnus Biosciences Co., Ltd.
- Danaher Corp.
- Darui Biotechnology Co., Ltd.
- Datar Cancer Genetics Ltd.
- Desktop Genetics Ltd.
- Devyser Ab
- Diacarta Inc.
- Direct Genomics Co., Ltd.
- Directed Genomics Llc
- DNA Electronics Ltd.
- DNA Script
- Dnanexus Inc.
- Dovetail Genomics Llc
- Dowdupont Inc.
- Edigene Corp.
- Edigene Inc.
- Editas Medicine Inc.
- Egenesis Inc.
- Electronic Biosciences
- Eligo Bioscience
- Envision Genomics
- Epic Sciences Inc.
- Epoch Life Science Inc.
- Esperite Nv
- Etagen Pharma
- Eurofins Scientific
- Exact Sciences Corp.
- Expedeon AG
- Ezlife Bio Inc.
- Fabric Genomics
- Fluxion Biosciences Inc.
- Freenome Inc.
- Fry Laboratories Llc
- Full Genomes Corp.
- Fusion Genomics Corp.
- G+Flas Life Sciences Inc.
- Genapsys Inc.
- Gencove Inc.
- Gendx Bv
- Gene By Gene Ltd.
- Genedx Inc.
- Genemed Synthesis Inc.
- Generay Biotech Co., Ltd.
- Genetics Research Llc
- Genexosome Technologies Inc.
- Genomatix Software GmbH
- Genome Profiling Llc
- Genome. One Pty Ltd.
- Genomic Expression
- Genomic Health Inc.
- Genomnia Srl
- Genus Plc
- Gigagen Inc.
- Gilead Sciences Inc.
- Ginkgo Bioworks
- Golden Helix
- Grail Inc.
- Grandomics Biosciences Co., Ltd.
- Guardant Health Inc.
- Haplox Biotechnology
- Helix Opco Llc
- Helixworks Technologies Ltd.
- Histogenetics Llc.
- Homology Medicines Inc.
- Horizon Discovery Group Plc
- Htg Molecular Diagnostics Inc.
- Human Longevity Inc.
- Illumina Inc.
- Inex Innovations Exchange Pte. Ltd.
- Inivata Ltd.
- Inscripta Inc.
- Intellia Therapeutics Inc.
- Interpace Diagnostics Llc
- Invivoscribe Inc.
- Irepertoire Inc.
- Kailos Genetics
- Kaneka Eurogentec S.A.
- Karius Inc.
- Kellbenx Inc.
- Kew Inc.
- Kingmed Diagnostics Center Co., Ltd.
- KWS Saat Se
- Labgenius Ltd.
- Laboratory Corp. Of America Inc.
- Laboratory For Molecular Medicine
- LC Sciences
- Leucine Rich Bio Pvt. Ltd.
- Lexent Bio Inc.
- LGC Group
- Locus Biosciences
- Logicbio Therapeutics
- Loop Genomics
- Lunglife Ai, Inc.
- Macrogen Inc.
- Mayo Medical Laboratories
- Mdxhealth Inc.
- Medgenome Labs Pvt. Ltd.
- Menarini Silicon Biosystems Spa
- Merck Kgaa
- Microsoft Corp.
- Mogene Llc
- Molecular Assemblies Inc.
- Molecular Health GmbH
- Molecular Loop Biosolutions Llc
- Molecularmd Corp.
- Myriad Genetics, Inc.
- N-Of-One Inc.
- Nanostring Technologies Inc.
- Natera Inc.
- Naveris Inc.
- Neogenomics Laboratories
- New England Biolabs
- New Oncology GmbH
- Newgene Ltd.
- Ngenebio Co., Ltd.
- Nipd Genetics
- Novartis Pharma AG
- Novogene Co., Ltd.
- Nucelis Llc
- Nuclera Nucleics Ltd.
- Nugen Technologies Inc.
- Nuprobe Inc.
- NX Prenatal Inc.
- Ocunexus Therapeutics Inc.
- Omega Bio-Tek Inc.
- Omniseq Llc
- Oncocyte Corp.
- Oncodna S.A.
- Oneome Inc.
- Othram Inc.
- Oxford Biomedica Plc
- Oxford Genetics Ltd.
- Oxford Nanopore Technologies Ltd.
- Pacific Biosciences Of California, Inc.
- Pairwise Plants Inc.
- Pangaea Oncology
- Paradigm Diagnostics Inc.
- Parseq Lab Co., Ltd.
- Pathway Genomics Corp.
- Perkinelmer Inc.
- Personal Genome Diagnostics Inc.
- Personalis Inc.
- Pfizer Inc.
- Phio Pharmaceuticals Corp.
- Population Genetics Technologies Ltd.
- Portable Genomics Llc
- Poseida Therapeutics Inc.
- Positive Bioscience
- Precipio Inc.
- Precision Biosciences Inc.
- Predicine Inc.
- Preventiongenetics Inc.
- Promega Corp.
- Q-State Biosciences
- Qiagen Nv
- Quantapore Inc.
- Quantum Biosystems Inc.
- Quest Diagnostics Inc.
- Rarecyte Inc.
- Real-Time Genomics Inc.
- Recombinetics, Inc.
- Resolution Bioscience Inc.
- Roche Holding AG
- Sangamo Therapeutics Inc.
- Sarepta Therapeutics Inc.
- Seven Bridges Genomics Inc.
- Sgi-Dna Inc.
- Sherlock Biosciences
- Shinegene Molecular Bio-Technologies Inc.
- Sigma Aldrich Corp.
- Singlera Genomics Inc.
- Sistemas Genómicos Sl
- Softgenetics Llc
- Sophia Genetics
- Spera Medical
- Sta Pharmaceutical Co., Ltd.
- Strand Life Sciences Pvt. Ltd.
- Stratos Genomics Inc.
- Supratech Micropath Laboratory & Research Institute Pvt. Ltd.
- Synbio Technologies Inc.
- Syngenta AG
- Synpromics Ltd.
- Synthego Corp.
- Synthetic Genomics Inc.
- Takara Bio
- Theranosis Life Sciences Pvt. Ltd.
- Thermo Fisher Scientific Inc.
- Thrive Early Detection Corp.
- Trace Genomics Inc.
- Translate Bio
- Tropic Biosciences Uk Ltd.
- Twinstrand Biosciences
- Twist Bioscience
- Ubiquity Genomics Inc.
- Vela Diagnostics
- Veritas Genetics
- Verogen Inc.
- Vir Biotechnology Inc.
- Vortex Biosciences
- Xing Technologies Llc
- Yield10 Biosciences Inc.
- Yikon Genomics Co., Ltd.
- Yourgene Health Plc
- Zhejiang Dian Diagnostics Co., Ltd.