The Global Genome Editing Market was valued at USD 4.9 Bn in 2020 and is expected to reach USD 15.8 Bn by 2027, with a growing CAGR of 18.3 % during the forecast period.
Genome Editing Market Definition
Genome editing is also known as gene editing that is group of technologies used to commute the genetic makeup of the DNA. This technology allows the alteration of gene expression in the genome. Genome editing play's important role in identification, diagnose, treat, and prevention of human vulnerable diseases such as infectious diseases, cancer. Researchers and scientist are working for the development of safe and effective genome editing techniques for disease treatments.
Genome Editing Market Dynamics
The driving factors influencing the global genome editing market include growing demand for gene–based therapies for cancer & immune diseases and growing number of clinical trials based on genome. Moreover, rising use of genome editing for addition and exclusion of DNA sequence in cells, and increasing application in understanding the nature of gene variants in mammalian diseases are expected to leverage the growth of genome editing demand across the globe. Besides, growing collaboration of laboratories/research centers with biotechnology/pharmaceutical companies and rising degree of precision for therapeutic approaches using genome editing is expected to boost the genome editing demand across the globe. Increasing genetic medicine and product launches leverage the growth of genome editing market. For instance, in October 2020, Scribe Therapeutics (USA) launched a platform designed to engineer and develop CRISPR based new therapeutics that would address specific diseases such as Huntington’s and could provide permanent treatment in patients. Such invention in genomic editing technology is expected to enhance the growth of genome editing market across the globe during the forecast period.
Global Genome Editing Market Segmentation:
By Product & Services
By End Users
Company Profiles and Competitive Intelligence
The key players operating in the genome editing market are:
Based on applications, cell line engineering segment is expected to contribute highest to the genome editing demand during forecast period due to growing its use in development of novel drug moieties for target diseases such as haematological malignancies
Based on application, genomic market is segmented into genetic engineering, cell line engineering, diagnostic applications, and drug discovery & development. Cell line engineering segment is expected to dominate the market during forecast period owing to increase in its application in research on cell biology, therapeutic sensitivity, and disease progression. Moreover, in cell line engineering, T-cell editing contribute highest in the rising demand of the segment in the market. Cell line engineering hold its application in stem cell, more precisely in Induced Pluripotent Stem Cells (iPSCs) to treat cancer. Rise in the utilization of cell line engineering is expected to boost the growth of the segment in genome editing demand during the forecast period.
Based on technology, CRISPR segment is expected to dominate the market during forecast period due to rising application of CRISPR in gene mutated diseases such as colour blindness, down syndrome
Based on technology, genome editing market is segmented into CRISPR, ZFN, TALEN, and Antisense. CRISPR segmented held the largest market share in 2020 due to increase in application of CRISPR in gene modification and is expected to increase more during the forecast period. This is due to increasing advantages in specific patient’s mutations for diseases such as cystic fibrosis. Moreover, increasing applications in epigenetic editing, therapeutic, and DNA sequencing is expected to uplift the growth of the genome demand across the globe. For instance, in October 2021, Merck KGaA (Germany) signed an agreement for licensing its patented invention CRISPR-Cas9 to Cellecta for the development of therapy for diseases such as genetic blood disorders, cancers, and other diseases. Through this agreement, Merck is expected to pave the way for scientists to diagnose and treat next generation treatments. Such ongoing inventions are expected to leverage the growth of segment in genome editing demand during forecast period. Genomic editing led to the development of most exhaustive CRISPR portfolio that is expected to impact drug development for therapeutic drug delivery. This escalates the genome editing demand in the market during forecast period.
Based on end users, pharmaceutical & biotechnology companies are expected to hold largest market share during forecast period due to growing collaboration of research labs with companies
Based on end users, genome editing market is segmented into pharmaceutical & biotechnology companies, and academic & government research institutes. Pharmaceutical and biotechnology companies is expected to contribute highest in the growth of genome editing demand during forecast period owing to rising number of research activities for the development of novel therapeutic molecule. Moreover, increasing government support in terms of grant & funds for research and rising interest of investors in the new drug development process is expected to uplift the growth of the segment in genome editing demand during forecast period.
Based on region, North America is expected to hold largest market share during forecast period owing to increase in research activities and presence of research infrastructure
Based on region, North America held the largest market share in 2020 and is expected to increase more during forecast period due to rising number of clinical trials being conducted for stem cell and gene therapies. Moreover, growing government support for R&D, rising number of chronic diseases, and penetration of new companies entrant in the U.S are expected to uplift the growth of genome editing demand. For instance, in May 2020, Merck KGaA (Germany) announced the approval of two patents of the company in the U.S. for CRISPR gene-editing technologies. This provided opportunity to the Merck to support the U.S. researchers and scientists in their gene therapy development programs. Rising companies' interests for the product launching in the U.S is expected to boost the growth of genome editing market in the near future.
The report also provides an in-depth analysis of genome editing market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Genome Editing Market Analysis
Covid-19 has positively impacted the growth of genome editing market due to rising use of gene therapy for the development of covid diagnostics tests. For instance, in March 2021, researchers from the Nanyang Technology University (Singapore) designed and developed a diagnostic test named as VaNGuard which is based on CRISPR technology for the detection of SARS-CoV-2 strains. Rising adoption of gene editing technology in covid-19 diagnostics boomed the growth of genome editing market during pandemic. Biotechnology companies diverted their attention towards the development and identification of the nature of virus and its treatment using gene editing technology. Moreover, Innovative Genomic Institute (US) researchers are currently focusing on developing of CRISPR-based DNA-vaccine enhancer for coronavirus that would help to reduce the timeline for vaccine against future viral threats. This invention is expected to hold promising effect for excluding destructive impact of pandemic in the near future. Such ongoing research for development of therapy against covid-19 virus are expected to boost the growth of genomic market during the forecast period.
The report also provides an in-depth analysis of key trends in genome editing market
|1||Ongoing research on gene regulation in brain to treat different brain disorders such as dementia, brain tumor||Positive|
|2||Rising application of genome editing in plants is expected to boom the revenue of the market||Positive|
The report also provides an in-depth analysis of recent news developments and investments
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