Market Size – USD 4.36 billion in 2019, Market Growth – CAGR of 14.8%, Market Trends – Increasing endeavors to introduce advanced genetic engineering technologies
The global genome editing market is expected to be valued at USD 11.59 billion in 2027 from USD 4.36 billion in 2019, registering a CAGR of 14.8% through the forecast period. Genome editing, also called gene editing or genome engineering, is a genetic engineering technique that involves the insertion, modification, deletion, or replacement of DNA in a living organism’s genome. Scientists have been using this method to alter the DNA of various organisms, such as plants, animals, and bacteria. DNA editing generally brings about specific changes in the organism’s physical traits, such as eye color, and helps reduce cell toxicity. Over the past decades, scientists have come up with promising genetic engineering technologies, including the CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) and TALEN (Transcription Activator-Like Effector Nucleases) technologies, which are considered more precise and cost-effective methods of DNA editing.
The leading participants in the global genome editing market include Thermo Fisher Scientific Inc., GenScript, Merck KGaA, Integrated DNA Technologies, Inc., Horizon Discovery Group Plc, New England Biolabs, Lonza, and Sangamo Therapeutics, Inc.
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The global genome editing market is predicted to gain significant revenue over the forecast timeframe. The most fundamental factors driving the market growth include the growing prevalence of infectious diseases, advancements in genetic engineering technologies, rise in production of genetically modified crops, rising applications in genetic mutation and agriculture biotechnology, widespread use in cancer treatment, and increased government funding for genomic research & development programs. The increasing use of synthetic genes in the manufacture of specific biologics is a significant parameter boosting the market growth. Moreover, the COVID-19 pandemic has positively influenced the market growth, with several scientific communities leveraging advanced gene editing tools like CRISPR to disrupt the genome of the SARS-CoV-2 that causes the deadly coronavirus infection. For instance, in June 2020, Stanford University came up with a novel genome editing tool, called PAC-MAN (Prophylactic Antiviral CRISPR in human cells), to effectively destroy the SARS-CoV-2 virus. However, the rising ethical concerns about gene alteration therapies and stringent regulations regarding gene editing applications are poised to challenge the global genome editing market growth over the forecast period.
For the purpose of this report, the global genome editing market has been segmented on the basis of type, application, end-user, and region:
By Type (Revenue, USD Million, 2017-2027)
- Transcription Activator-Like Effector Nucleases (TALEN)
- Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)
- Zinc Finger Nucleases (ZFN)
By Application (Revenue, USD Million, 2017-2027)
- Cell Line Engineering
- Plant Genetic Engineering
- Animal Genetic Engineering
- Therapeutic Application
- Genetically Modified Organisms
By End-user (Revenue, USD Million, 2017-2027)
- Pharma-biotech Companies
- Academic Institutes & Research Center
- Contract Research Organizations (CROs)
- Agrigenomic Companies
By Region (Revenue, USD Million, 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key findings of the report:
- The CRISPR segment is expected to dominate the global genome editing market in terms of market share, exhibiting a robust 30.9% CAGR over the forecast timeline. The growing use of CRISPR technology to develop commercial products like crops and treat patient-specific mutations for various diseases, such as cancer or cystic fibrosis, is projected to drive this segment’s growth.
- The cell line engineering application segment is forecast to account for the largest market revenue over the estimated timeframe. The cell line engineering technology finds profound use in stem cell research. The technology has become more efficient and affordable with the latest developments in several genome editing methods, including CRISPR, TALEN, and ZFN.
- The North American genome editing market is foreseen as the leading regional market, with the highest revenue generated over the forecast period. The surging incidence of rare genetic disorders, escalating demand for avant-garde gene editing technologies for drug discovery and disease treatment, and augmented funding and grants for genomic research, particularly in the U.S., are the key aspects driving the regional market development.
- In December 2020, AnGes Inc., a recognized biopharmaceutical company in Japan, acquired EmendoBio Inc., a leading U.S.-based genome editing company, for a considerable sum of USD 250 million. According to AnGes, the latest acquisition helps the company expand its drug pipeline by capitalizing on the OMNI discovery technology platform of EmendoBio.
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017 – 2027
Chapter 3. Indicative Metrics
3.1. Rising number of research publications related to genetic engineering
3.2. Funding for genomic research
3.3. Rising incidence of target diseases across the globe
3.4. Increasing focus on infrastructure development for genomics and life science research
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